There are 3 consumer shifts which showcase key opportunities that could influence the marketing of brands and businesses within the region
By HARIZAH KAMEL / Pic By BLOOMBERG
FOR marketers to succeed in the ever-changing consumer landscape that is Asia Pacific (APAC), it is essential for them to understand the importance of consumer insights and trends.
With 98% of mobile Internet users spending an average of three hours online daily, APAC is a key influencer of consumer shifts with a thriving Internet economy, innovative business models, and a diverse, digitally fluent consumer demographic.
A recent report by Google Asia Pacific Pte Ltd (Google APAC), entitled “A peek into your consumer’s future 2020” highlighted three consumer shifts which showcase key opportunities that could influence the marketing of brands and businesses within the region.
“We believe these are fundamental shifts. We triangulated them in our methodology and we think that they extend across a very broad and diverse range of people,” Google APAC consumer and market insights director Dr Stuart Pike said at the recent Google Roundtable on Consumer Insights Research.
He said the consumer shifts are not isolated as they stand across the board throughout the region.
“We also think they’re going to translate to the rest of the world. We think these will be examples of things that are emerging in the East and will move to the West in time,” Pike added.
1. “With Me”: Consumers want to do more than watch.
“With Me” emphasises the importance of gaining a sense of community via the consumption of interactive and experiential online videos for consumers.
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”, Google APAC said.
Meanwhile, watch time for “With Me” content grew in Indonesia and Pakistan by 180% and 150% year over year respectively.
Brands are realising just how influential and engaged these audiences are as consumers are craving more authenticity and interactivity, Pike said.
“The smartest brains are already working hard at understanding what are the next experiences that are coming as technology is improving and getting cheaper. We are going to see another metamorphosis of this “With Me” content and to take advantage of that,” he added.
2. “All To Gather”: Consumers want genuine inclusivity.
A play on “all together,” it accentuates the buyer’s desire for products and services that are genuinely inclusive and speak to their identity.
“This shift is referring to the practice of using inclusive design. We are really focused on getting greater access to all types of people no matter what gender, age, sexuality, physical ability. Whatever dimension you can think of, it’s important,” Pike said.
Fifty percent of all online APAC consumers agree that the practice of inclusivity is important to them and that prioritising diversity is vital to connecting with a wider audience.
APAC consumers are also seeking out brands that align with their cultures, identities, and personal preferences, pushing brands to become more diverse than ever.
3. “Shared Commerce”: Consumers are redefining ownership.
Shared Commerce highlights the positive shift in perception towards second-hand goods and shared experiences among people in the region.
Making financially sensible investments and participating in a circular economy is more important to people than being the original owner, Google APAC said.
“We found that more than half of all online millennials and Gen Zers in APAC now believe that preowned products have better value than new items,” the report stated.
Digital marketplaces make it easier to rebuy and resell almost anything, including products that are trickier to return like used makeup.
Meanwhile, brands like Alibaba are entering the peer-to-peer (P2P) rental space to keep up with people’s love of rational consumption.
“This is now becoming a socially praised thing to do as it does not add waste to the planet and people are not buying stuff that they’re not going to use. This fits right into re-commerce, rational consumption and sustainability,” Pike said.
People are increasingly looking for more than just convenience and promot ions from brands, so aligning with their values is key to building longterm relationships.
“A lot of business models are going to adapt to this change or risk becoming obsolete,” Pike added.
