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Business

Sensible beats splashy for 2016 Asian consumer hits

Slowing growth drives shift toward products and services packed with value

Singapore's hawker food stall, Liao Fan Hong Kong Soya Sauce Chicken Rice & Noodle, serves the world's cheapest Michelin-starred dish.

Away from flashy and lavish and toward down-to-earth is a common thread in consumers' spending patterns across Asia, as highlighted in Nikkei Inc.'s 2016 rankings of hit products and services.

The rankings, covering 11 Asian markets, show items with high performance and quality relative to price dominating the landscape. Slowing economic growth and aging populations are thought to be major factors behind the rise of more sensible consumption.

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