SINGAPORE , Aug. 7, 2024 /PRNewswire/ — The countdown has begun for Franchising and Licensing Asia (FLAsia) 2024 – one of the region’s most anticipated trade events for franchising and licensing. Organised by the Franchising and Licensing Association ( Singapore ) and Constellar, FLAsia 2024 will take place at Sands Expo & Convention Centre from September 12 to 14 .
The trade event offers unparalleled opportunities for entrepreneurs and investors to connect with leading brands looking to expand across the rapidly growing Asia Pacific consumer market. Asia’s Gen Z Driving Future Consumption Demand and Retail Trends As Asia continues to be a key driver of global economic growth, its increasingly affluent millennials , Gen Z consumers and the burgeoning middle class are shaping global consumption patterns and driving demand for quality services and products across various sectors. These include beauty and wellness, education, food and beverages, and technology – which are leading exhibitor profiles at FLAsia 2024.
Gen Zs will account for 23.2 percent of the global population and spending an estimated US$12 trillion by 2030, becoming the highest consumer spending class in many regions. Much of the total spending by this population will also be from non-Western countries [1] .
This makes Asia one of the most lucrative regions with vast opportunities for homegrown and global brands to expand beyond their familiar markets and target Gen Zs through franchising & licensing, .