Meeting the needs of affluent Asian consumers
"Any company that is looking to make a mark or consolidate their business really needs to focus on affluent consumers," said Amrita Banta, managing director of Agility Research & Strategy, at the recent ad:tech Singapore 2013 conference.
When making her case in support of this assertion, Banta cited some impressive numbers. "There are going to be over a billion affluent consumers in Asia over the next decade, so this consumer is probably going to be the most relevant consumer that every brand is going to target at this point of time," she said.
At present, Asia currently has over 900 million affluent consumers, who together comprise the top 40% of the region's population in terms of income. In hinting at the potential ways to reach this audience, Banta reported that Asia also has 844 million smartphone users, adding: "They're connected, they're affluent, and this is a group we just cannot ignore."