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BLOG: Southeast Asian consumer trends

Aneesh Reddy | Nov. 29, 2013
5 Crystal Ball Predictions for 2014

If Google is pushing the widespread internet use in Indonesia, that ought to tell you something.

#4: Female consumers will be more important than ever.
Female shoppers are increasingly empowered and involved throughout Asia. By 2020, India and China's female economies alone are projected to account for US$5 trillion in world spending.

In conjunction with this staggering purchase volume, female shoppers are also purchasing more powerfully, often even unilaterally. 81 per cent of purchases by Asian women are made for the woman making the purchase only, rather than family or friends, adding power and punch to individual Asian female purchases. And 31 per cent of women in Asia are chief income earners and purchase over 60 per cent of traditionally male products!

In other words, to enter the market in Southeast Asia, even male-focused products MUST gain the attention of female shoppers. In 2014 and beyond, women will gain even greater influence in the ASEAN consumer class.

#5: Organic food purchasing will continue to gain steam.
The Southeast Asian consumer audience is leaning now, more than ever toward organic foods. 25 per cent of consumers in India and 18 per cent in South East Asia are willing to pay a little more for organic and green food, beverages and personal care products, and approximately 10 per cent are willing to pay much more. Most significantly, the organic food market in the region has grown 15 to 20 per cent every year for more than a decade, reaching more than US$50 billion.

This trend is not necessarily a sign that Southeast Asian consumers will seek organic clothing and other items. What it does show is a marked shift in how consumers in the region address food purchases. Organic is more popular than ever; that trend shows no sign of slowing down, and smart marketers will learn to take advantage of it.

Aneesh Reddy is the Co-Founder and CEO of Capillary Technologies.

 

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