SINGAPORE — The retail revolution is happening, and APAC consumers are at the forefront. With this, VML has launched its first deep dive into the region with “APAC’s Future Shopper.” The report provides an unparalleled look into the evolving habits and shopping trends of over 8,500 consumers in six key markets: China, Thailand, India, Indonesia, Australia and New Zealand.
While physical retail experiences a resurgence in the West, APAC sees a true omni-channel experience with digital innovation at its heart. “Global businesses can learn from APAC’s mobile-first mindset, embrace of social commerce, and openness to innovate,” said Aadit Bimbhet, Regional Commerce Director at VML APAC. “To win in APAC, and increasingly globally, brands must prioritize seamless, connected experiences with conversion at the core and lightning-fast fulfillment.”
Key findings from the six-nation deep dive:
- China: Decentralization of ecommerce is underway, with social commerce platforms like Douyin and Pinduoduo challenging established marketplaces by prioritizing personalized experiences. Marketplaces still inspire 63% of consumers, but their overall share of purchases is declining.
- Thailand: Social commerce reigns supreme, fuelled by TikTok’s “Shoppertainment,” influencer marketing, and the growing adoption of “Buy Now, Pay Later” services paired with Thailand’s FOMO. 73% of Thai consumers said they are more likely to spend on bucket list experiences, realizing that life is short.
- Australia & New Zealand: Brands Down Under in Australia and New Zealand are in a unique position of being able to clearly see the future and up their game to be the first of the more Western countries to capitalize. Price is the main point of concern, with 60%+ of ANZ shoppers stating they would buy directly from a brand online if there was a “better price.”
- Indonesia: A hybrid shopping model prevails, with consumers utilizing online channels for research and price comparison while maintaining brick-and-mortar stores, emphasizing the importance of seamless online-to-offline integration. They also lead the region in demanding a rapid path from inspiration to purchase (80%).
- India: Brands targeting India must adapt to a digitally savvy, price-conscious consumer who demands both convenience and connection – 48% of Indian consumers expect delivery in less than two hours. Building trust and understanding local preferences, like the Kirana’s role, is key.
Across APAC, consumers exhibit high expectations for retailers and brands, demanding experiences that differ significantly from those prevalent in Western markets. This report provides market-specific recommendations, empowering brands to develop targeted strategies for success in this complex and rewarding region.
“APAC consumers are writing the playbook for the future of retail,” said Nick Pan, Chief Commerce Officer at VML APAC. “Western brands must learn from their demands if they want to stay competitive.”
Download the full “APAC’s Future Shopper: A Six-Nation Deep Dive” report here: https://www.vml.com/insight/apacs-future-shopper-report
