Warc, 28 August 2013
SINGAPORE: Four distinct Asian consumer profiles have been
identified in a new study that found a strong emphasis on the family,
traditional values and hard work, despite considerable geographic and religious
diversity across the region.
The Pan-Asian Wave Consumer Study: Asian Marketing Trends
and Consumer Insights report was conducted by the Institute on Asian Consumer
Insight (ACI), a joint venture between the Nanyang Technological University and
the Economic Development Board.
Covering 7,000 consumers from ten key economies in the
region, the survey found strong adherence to traditional values, leading the
ACI to advise companies to appeal to these values when building their brands.
Professor Bernd Schmitt, executive director of ACI, advised
multinationals that to build a strong brand in Asia they need to offer
"more than just functional superiority".
He said: "The brands that understand, leverage and
fulfil the emotional and expressive needs of the pan-Asian consumer are those
that will succeed in the Asian marketplace."
Four main consumer segments were identified as
"Inner-Directed Traditionalists", who value religion and tradition;
"Outer-Directed Strivers", who tend to have lower education and
incomes, but who value work success; "Survivor Oriented", who tend to
be older and less financially optimistic; and "Mainstream Asian
Values", who make up 39% of the Asian population.
The first group make up more than half the consumers in
Indonesia, Thailand and the Philippines, where religious values are highly
regarded.
Outer-Directed Strivers make up 59% of India's consumers and
25% of those in China while Survivor-Oriented consumers mostly come from Japan
and South Korea, reflecting their older populations.
Among other findings, interest in foreign cultures and
brands is highest in China, Hong Kong and India and lowest in Indonesia, Japan
and Malaysia.
There is a greater emphasis on fun and leisure time in
Japan, China and South Korea than in India, Malaysia and Thailand while
consumers in China, India, Thailand and the Philippines express greater
willingness to buy quality brands than their counterparts in Indonesia, Japan
and South Korea.
Younger consumers have similar views to those aged over 45
about the benefits of education, hard work and the avoidance of debt, but they
express less emphasis on duty, religion and tradition.
In a surprise finding, younger consumers appear not too
concerned about the environment or societal issues, but place greater value on
work success and recognition.
Data sourced from Nanyang Technological University;
additional content by Warc staff
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