Companies need to go beyond the surface to peel back the layers of consumer behaviour as they continue to change, according to Anvaya Sharma, director of Ipsos in Singapore.
“While we are talking about the changing face of Asian consumers, we can tell you that cohorts of people don’t magically, and suddenly transform themselves, and completely transform themselves,” she said at the Ipsos PEEL: Changing Face of the Asian Consumer event recently.
“There are gradual changes that come across.”
From understanding people across generations, to understanding them income classes, it is about “more than just ensuring our marketing strategies and government policies are sound and will work”, she emphatically stated. “The deeper the understanding that we get, the more foolproof we will make the future strategies for brands.”
Drawing from Ipsos research, Sharma singled out three consumer segments in the region undergoing the biggest changes.