C17002 Connects Name Strap Consumption


Our Research team’s analysis suggests that with valuations now more moderate in most cases, superior revenue growth will be a strong predictor of better stock performance. The ASEAN consumption space is one of the more uncontested multi-year growth areas in Asia. With listed equities potentially grabbing a larger share of overall consumption, low double-digit sector-wide top-line growth is easily possible, and many individual stocks should well exceed this.

Our analysts have identified 14 among Nomura’s 79-stock coverage universe in 5 broad consumption categories that they believe fit the key growth themes and could still double from here. A continued upgrading process in F&B/FMCG as well as travel/leisure, preference for CVS formats, increasing technology adoption, structural rises in data consumption and healthcare spending will drive growth.

Key themes and analysis include:

- The shift of consumption patterns with rising incomes, ageing and technology adoption

- Detailed analysis of growth areas in Retail, F&B, FMCG, Telco, Healthcare, Transport, Gaming and Hotel sectors in ASEAN

- Initiating coverage on the Philippine consumer space, SEM and SSG

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