APAC consumers want help not dreams from brands

While the APAC region has a higher level of trust in governments’ handling of the pandemic, concerns about the state of the economy persists, according to a study from McCann Worldgroup.

Why it matters

The global study, Truth About Culture and Covid-19, shows people in APAC generally trust their governments’ response to the pandemic but are concerned about the economy, with 64% being more cautious about post-crisis spending. The number rises to the highest out of any market surveyed in China, with 60% of people worrying about their jobs/finances, ranges between 35-40% in Southeast Asia and is lowest in Australia at just 26%.

In addition, 54% of people in APAC believe brands should understand their frustrations rather than providing them with dreams, a significant increase from 2018 when only 41% of people said the same.

Other highlights from the study

• One APAC outlier is Japan, where 33% believe the government’s handling of the pandemic was inadequate. Also, only 13% believe their country was prepared to handle the outbreak. 
• In India and the Philippines, three in four people said that they will be more conservative with their finances. 
• In Japan, 55% say they intend to go do/buy what they haven’t been able to, rather than be cautious about spending. And in South Korea, 69% intend to do/purchase what they’ve missed out on as a result of the pandemic. 
• 22% of people in APAC are concerned that people will become more racist, compared to 18% globally. This is most prominent in markets with high Chinese ethnicity, such as Hong Kong (29%), Singapore (29%), and China itself (28%).
• 38% of people in APAC believe COVID has emphasised existing inequalities. 
• 43% of people in APAC believe this crisis will inspire new innovations, compared with 36% globally. This is most strongly seen in Singapore, with 58% believing that the crisis will inspire new innovations, the highest figure globally.
  

The global study covers ten markets in the APAC region: China, India, Japan, Australia, Philippines, Malaysia, Singapore, Hong Kong, Indonesia and South Korea.

Sourced from McCann Worldgroup