The Bluebell Group has recently published its “2022 Asia Lifestyle Consumer Profile” report, providing insights into the Asian market and identifying the main types of consumers on the continent. The report focuses on consumption patterns and the profiles of Asian customers, with data collected from a panel of 2,100 individuals aged 18 to 45 who spent a minimum of 1,200 euros on lifestyle products in March.
According to the report, Asian consumers are increasingly drawn to niche brands that are not widely recognized. This trend is evident across all territories, with China experiencing a 34% year-on-year increase in interest for more confidential brands. Additionally, the second-hand market is expected to grow by 10 to 15% over the next decade. Asian customers are particularly attracted to second-hand products, with a 26% increase in Taiwan and a 22% increase in Japan. To adapt to this trend, brands like Gucci are launching their own online second-hand platforms, allowing them to tap into a new digitally-connected audience. Coty has also strengthened its digital activities in Southeast Asia, where online shopping continues to gain popularity.
The report highlights online channels as the most influential medium for consumption. 44% of respondents stated that social media has the most impact on their purchasing decisions, followed by websites at 31%.
The report also delves into the various profiles of Asian consumers. After analyzing their buying behavior, five main profiles were identified. The “experimenters” are consumers who want to fully immerse themselves in a brand’s culture and experiential offerings. Dior, for example, aimed to reach this audience by enhancing its presence on the metaverse in China. On the other hand, the “traditionalists” seek luxury experiences, such as premium in-store services and the social status associated with renowned luxury houses. In contrast, the “neo-philes” are more interested in niche brands, uniqueness, and second-hand products. The “comfort-me-ists” prioritize natural products and well-being, while the “idealists” pay close attention to a brand’s ethics and values.
In conclusion, the “2022 Asia Lifestyle Consumer Profile” report provides valuable insights into the changing preferences and behaviors of Asian consumers. With their growing interest in niche brands and second-hand products, it’s evident that social media and online platforms play a crucial role in influencing their purchasing decisions. Moving forward, brands will need to adapt to these evolving trends in order to effectively engage and connect with their target audience in the Asian market.
Useful links:
– Bluebell Group
– Coty
