Consumer spending patterns across Asia are shifting away from flashy luxuries and toward down-to-earth deals, as highlighted in Nikkei's rankings of hit products and services for 2016.
The rankings, covering 11 Asian markets, show that value was a high priority among the region's consumers last year. Consider, for instance, the growing popularity of discount stores in Malaysia, and the proliferation of inexpensive but feature-rich smartphones in China, India and Myanmar. Where consumers once splurged on designer brands and other status symbols, many are now making more sensible purchases -- a change likely driven by economic and demographic trends.
