Urbanisation is changing the purchasing habits in PNG and is slowly evolving the retail sector from informal markets to retail shops.
With an emerging middle class, purchasing habits are veering away from traditional informal markets and are gearing towards shopping centres and retail stores. Among the factors driving this behaviour change is increased access to vehicles, making visits to shops and malls more convenient. Retail expansion outside the major cities has also started alongside the increase of disposable incomes in the regions.
Sustaining the retail industry needs more than just dependence on the resource-based sector. Although expectations that LNG benefits will trickle down the economy, improved infrastructure and more non-resource based industries are likely to tolerate the growth of the retail industry in the country.
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Managing Partner, PwC Papua New Guinea
Tel: +675 321 1500 | 305 3100
Principal, PwC Papua New Guinea
Tel: +675 472 2644