Consumers are looking to create a personal identity with the brands that they use while increasing their sense of community. Also, the lines between the digital and real-world are continually disappearing. However, amidst all this change, marketers must understand that the concept of "knowing your audience" is timeless.
Google's “A Peek Into Your Consumers' Future 2020” report highlights the shift in consumer trends in the APAC region. It gives an overview of future consumers. This is possible through showcasing these trends on a timeline of the present, emerging, and future while foreshadowing its implications.
Listed below are the three trends that was highlighted in the report.
1. With Me
With the rise of “With Me,” consumers have started focusing more on the importance of community. The videos focus on doing day to day things like eating (mukbang), exercising, vlogging, etc. The purpose of these videos is to share the experience and create a community and togetherness. "With Me" content has gained a following with content consumption increasing up to 150% in Malaysia and Pakistan and 180% in Indonesia. At the same time, "Study With Me" videos have reached tremendous heights in Australia.
Participatory content, especially when it comes to gaming, has increased significantly as content creators use these strategies to connect with their consumers. An aspect of revenue increase can emerge in such videos, where the content is featured or where consumers can shop the products that their creators use in the video with just a tap. Furthermore, the future shows haptic technology where individuals can use their sensory skills to transport themselves to the experience.
2. Demand for Genuine Inclusivity
Diversity is an important hot topic in a region with seamless borders connected through digital media. Brands play a huge role in encouraging diversity. Through "All To Gather," which is a play on "All Together," consumers are recognizing the importance of having equal representation, regardless of gender, race, sexuality, or age. With the increase in the consumption of diverse content and inclusive design, marketers need to adjust their brand to the same ideology and make it accessible to everyone.
In recent times, you will see brands like Google Maps, taking steps to be inclusive through providing special features for individuals with disabilities or vision impairments. Accessible fashion for the APAC region is being practiced through brands like Love, Bonito, and governments like that of the Philippines are even giving more thought to left-handed students. Emerging trends in this field include giving importance to cultural food such as veganism or halal. The future focuses on voice-activated devices that focus on local accents, and this implies that individuals are more aware of their culture and its representation among brands.
3. Shared Commerce
Shared commerce is a trend that emerged in APAC due to the acceptance of second-hand products and shared spaces. You can see this trend moving forward with the rise of sites like Alibaba or the popularity of Air BnB and Uber Share. Sustainability and rational consumption are at its highest, and individuals prefer getting similar experiences without being superfluous in their consumption.
Brands like YCloset in China or Mercari’s focus on the concept of e-commerce and have carved a niche in their industries. Emerging trends like subscription economy or rental spaces have denounced the concept of ownership. Shared commerce is considered as the future with crowdfunding technologies. The implications point towards shared spaces like libraries or digital platforms that offer these services as the go-to trend.
Way Forward
The APAC region has a huge influence on a worldwide shift in consumer behavior and a forerunner for change. Keeping these trends in mind would help marketeers know their consumers and optimize strategies. Download Google's “A Peek Into Your Consumers' Future 2020” report here.