Asia-Pacific, home to 60% of the global population, has become the most advanced digital economy in the world and three key consumer trends have emerged that are likely to influence the way marketers design, build and promote their products across the region.
This is according to a new report from Google, which partnered with Qualtrics, an experience management firm, to poll more than 7,150 consumers across 12 markets in APAC – China, India, Indonesia, Japan, the Philippines, Vietnam, Thailand, South Korea, Malaysia, Australia, Taiwan and Singapore.
Entitled A peek into your consumer’s future, the study highlights three shifts in consumer behaviour, which it describes as “with me”, “all to gather” and “shared commerce” – that it expects to drive marketing interest and spending in the region, Campaign Asia reported.
As affordable data plans and smartphones make it easier for people to make and watch videos, online communities are becoming a bigger part of consumers’ identities – and this sense of online community underpins the “with me” trend.
For example, in the first half of 2019 alone, YouTube viewers in South Korea watched more than 500 years’ worth of “with me” videos across various categories like “draw with me” and “eat with me”. Meanwhile, watch time for “with me” content grew in Indonesia and Pakistan by 180% and 150% year-on-year respectively.
The second trend that Google believes is emerging strongly in the region is called “all to gather”, which emphasises people’s growing desire for genuinely inclusive products and services that embrace their unique lifestyles.
In other words, APAC consumers are seeking out brands that align with their cultures, identities and personal preferences. Marketers also should be alert to the fact that nowadays consumers are quick to shun brands that claim to be inclusive but leave their needs unmet.
The third factor for marketers in APAC to pay attention to is called “shared commerce”, the growing acceptance of second-hand and rental goods and shared experience.
According to Google, half of all online millennials and Gen Zs in APAC now believe that pre-owned products have better value than new items, especially with digital marketplaces making it easier to rebuy and resell almost anything.
“Thanks to consumers’ growing desire for re-commerce and sustainability, APAC’s booming second-hand market is on track for long-term growth,” the report said.
Sourced from Google, Campaign Asia; additional content by WARC staff