Today’s digital world consumers stand transformed, even as the mega global forces continue to sweep through the business landscape. Organisations not only need to understand how this new world affects all their customer touch points, but also must actively reinvent their growth path to avoid being at the mercy of external events.
We take a closer look at the top retail and consumer trends in South East Asia (SEA), and identify ways for businesses to emerge stronger in the post-COVID-19 new world in this publication.
From our Global Consumer Insights Report 2020, we see the following trends emerging globally and within SEA
Increased price sensitivity with focused spending on basic needs
Increased expectations of e-commerce with accelerated use of digital platforms
Heightened consciousness of sustainability and social impact
Trust and ease of obtaining goods and services are key in driving purchases
Shutdowns during the pandemic have greased the digital runway. As some new consumer habits become ingrained, businesses that build value based on informed and relevant ideas, and have the technology and imagination to create engaging and inspiring experiences, will clearly stand out in the game. This is the underlying premise of the Business-Experience-Technology (BXT) philosophy.