Why APAC CMOs need to understand ‘emotional demand’ spaces | WARC | The Feed
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Why APAC CMOs need to understand ‘emotional demand’ spaces
Shoppertainment is a US$1 trillion opportunity in APAC but to take advantage successfully will require an understanding of ‘emotional demand’ spaces, according to a report from Boston Consulting Group.
What’s an emotional demand space?
The report, published in partnership with TikTok, identifies customers as operating in six key demand spaces across two core groups: functional demand spaces, which encompass convenience (easy for me), improvement (better for me) and validation (confirm for me); and emotional demand spaces, including recommendation (advise me), indulgence (spoil me) and inspiration (inspire me).
Why it matters
Emotional demand spaces will represent 40% of e-commerce GMV in APAC by 2025, the report predicts. Those brands that can deliver the right sort of engaging content in a shoppertainment context can inspire key switching behaviour that engages customers at the “moment of truth”. BCG suggests this can trigger a halo effect that radiates out across consumer journeys, so “allowing brands to transition purchasing behaviour and capture customers in the functional demand spaces”.
- Six high-growth markets – Australia, Indonesia, Japan, South Korea, Thailand, and Vietnam – will drive significant value opportunities.
- Five things for brands to do: tell stories and educate; focus on video-first; don’t force decision-making; be authentic; recommend the trends.
- Four Cs to consider: campaign strategy, customer segmentation, channel management, content playbook.
Sourced from Boston Consulting Group
[Image: Boston Consulting Group]
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