Long-term economic concerns, short-term inelasticity on the Asian consumer’s mind

Biprorshee Das

The Mobile Marketing Association APAC hosted a webinar with McKinsey on the perspectives on COVID-19 and its implications/learnings for consumer and retail companies.

Why it matters

What began as a health crisis is now also a full-blown global economic catastrophe. Can consumers afford any optimism in these grim times? To chart out a recovery plan as well as to merely tide over, marketers must closely follow the consumer sentiment and react accordingly.

Takeaways

  • Moving towards value, being more health-conscious than ever and ditching brand loyalty are the new normal.
  • A rapid shift towards everything digital is being noticed among consumers.
  • Groceries and home entertainment remain areas that are seeing increased expenditure while dining out and travel are among the categories where the...

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