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5 September 2012 | Anna Reynolds
Some of the world’s largest importers intend to increase their purchasing spend over the second half of 2012, according to a survey by Global Sources.
The business-to-business company, which helps facilitate trade with countries in Asia, surveyed 26 worldwide importers including retailers El Corte Ingles, Intelbras and OfficeMax. Nearly 66 per cent said they intended to increase purchasing spend in the last six months of this year. They also anticipated a rise in total order volumes compared with 2011.
A further 15 per cent expect purchasing quantities to remain unchanged and the remaining 19 per cent predicted a decrease in sourcing volumes.
Challenges remain in international trade, including higher export prices in mainland China, which was one of the top concerns, cited by 85 per cent. Looking to the months ahead, however, more than 80 per cent said they expected to maintain or increase their import volumes from China. Almost 60 per cent see cautious consumer spending as their biggest challenge, with 38 per cent citing the fast-appreciating Chinese currency (yuan) as a growing concern.
Global Sources CEO Spenser Au, said: “Facing more restricted consumer spending means buyers are eagerly looking for channels to help streamline costs.”
A business development manager from Intelbras, said: “At this point in time, our target market demands more competitively priced goods. Therefore, to maintain our competitiveness, we must be cautious about suppliers’ rising costs.”