1、Digital Consumers of Tomorrow, Here Today A SYNC SOUTHEAST ASIA REPORT Table of contents Five years of digital transformation in a single year7 The digital consumer of tomorrow is here 19 Steering the future41 How consumers discover New norms = new purchasing habits The 6 types of digital consumers
2、22 30 37 How can brands adapt The age of enablers 51 56 Introduction SYNC Southeast Asia Southeast Asia digital consumer trends that shape the next normal How have recent events spurred changes for digital consumers and which trends have accelerated or reversed vs last year? 3 READ THE REPORT How So
3、utheast Asias emerging middle class is embracing the digital world of tomorrow. 2018 2019 2020 What the new consumer habits and digital journeys are for the fastest growing population in five Southeast Asian countries, and what this means for brands. READ THE REPORT Riding the digital wave: Southeas
4、t Asias digital consumer in the Discovery Generation What the spending behaviours of Southeast Asias online shoppers are, the challenges brands face in reaching them and the opportunities that lay ahead. READ THE REPORT A thought-leadership series about keeping in tune with the consumers of tomorrow
5、. Through this series, Facebook and Bain clothing, footwear and accessories; personal care and beauty; household, appliances and furnishings saw at least a 1.4x increase in online retail penetration from 2019 to 2020. But the highest growth came from groceries, which achieved a 2.7x growth in online
6、 retail penetration as more people shopped online. Introduction6 Social media, video, and messaging are crowd favourites for Discovery Commerce Reliability and value keep customers returning Promoters make a difference: They spend 2x more than Detractors 5 7 9 Social media, short videos, and messagi
7、ng together are peoples most preferred online channels for discovering new brands and products, with 62% of consumers citing them as top channels for online discovery. Social media is also the top channel for discovering and viewing short and medium-length videos: Among those surveyed, 63% find new
8、short videos primarily through social media, while 54% discover medium-length videos through this platform. In the 6 Southeast Asian countries we surveyed, reliability and value are the top 2 reasons cited for switching brands. They were also the top factors cited for switching between most frequent
9、ly used websites: 42% said they switched due to better pricing, while 34% cited better product quality. Good value and reliability help retain Promoters. Businesses who want to keep Detractors at bay can benefit by addressing reliability issues such as lack of availability, mismatched product expect
10、ations, and poor quality control. More openness towards switching brands Spending gap between Tier 1 and 2 cities is closing Disruptors are coming in full force with tech-enabled payments 6 8 10 Openness to different brands is a trait shared by many Southeast Asians: On average, 54% say they changed
11、 their most-purchased brand in the three months prior to the study. More customers switching brands means businesses will have to be more innovative to retain loyalty. In Southeast Asia as a whole, high spenders now make up at least 52% of consumers in both Tier 1 and Tier 2 cities, the study found.
12、 The population of high spenders also saw a sharp rise this year in both locations. Southeast Asian-based funds hit a record of US$8.7 billion in unspent capital at the end of 2019. This opens doors for internet and technology disruptors to secure more funding, grow profitably, and challenge the pos
13、ition of large brands. Five years of digital transformation in a single year 7 Five years of digital transformation in a single year Digital consumer adoption has exceeded 2025 forecasts 2020 is a pivotal year. Social distancing has paved the way to the home-centric lifestyles as well as commerce wi
14、th minimal physical contact. This meant extensive economic disruption as there were fewer opportunities for people to leave home to spend, shop, travel, work, or even carry out essential tasks. For many businesses, the only way to secure their future was to establish a robust digital presence. This
15、disruption has inadvertently accelerated the growth of Southeast Asias digital economy. In 2019, Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain clothing, footwear and ac
16、cessories; personal care and beauty; household, appliances and furnishings saw at least a 1.4x increase in online retail penetration from 2019 to 2020. But the most dramatic growth came from groceries, which achieved a 2.7x growth in online retail penetration as more people became more receptive to
17、buying them online. Five years of digital transformation in a single year Data compiled and modelled from: Forrester ForecastView, Forrester Analytics: Online Retail Forecast, 2019 to 2024 (Asia-Pacific, China, India, Southeast Asia, USA) by Forrester Research. Passport: Economies and Consumers Annu
18、al Data 2018 to 2025, by Euromonitor. Digital 2019 (Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam) by Hootsuite, Jan 2019. Riding the Digital Wave: Capturing Southeast Asias Digital Consumer in the Discovery Generation” by Bain household appliances and furnishings; clothing,
19、 footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain h
20、ousehold appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceri
21、es and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; persona
22、l care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain on the other, a more receptive audience means brands have more breathing space to be creative and experimental in their offerings, approach, and outreach. There is great variation among countries within the re
23、gion, with consumers in Vietnam, Thailand, and Malaysia more willing to switch things up. In these countries, 51% to 69% of consumers have switched their most purchased brands. The Philippines and Indonesia have shown openness to switching as well. One outlier is Singapore, where switching brands wa
24、s reported by only one-third of respondents.18 18 “Digital consumers of tomorrow, here today” by Facebook and Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household ap
25、pliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain for healthier and tastier foods, to suit changing consumer behaviours and also towards a more sustainable future. Within the ecommerce spac
26、e, we aim to ensure strong digital content, product availability online and a robust supply chain. Our online selection prioritises delivering convenience, bulk purchases, and limited editions.” Phee Chat Chow Executive Director Marketing, Communications and Innovation Nestl Malaysia and Singapore N
27、ew norms = new purchasing habits Unique products and good deals inspire interest in new online stores 19 “Digital consumers of tomorrow, here today” by Facebook and Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries
28、 and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal
29、care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings;
30、clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed
31、by Bain Survey questions: Q24. Which statement would best describe your purchasing journey for the following categories online? (excluding food delivery both discover products via social media, short videos, and messaging; both have switched brands in the past 3 months; and both have bought 4 to 5 t
32、imes online in the past 3 months.23 Tier 1Tier 2 Dont know what products they want69%66% Discover via social media, short videos, messaging (% of those who are discover-led) 62%62% Average spend per online purchase$46$38 Switched brands in the last 3 months55%54% Frequency of online purchase in the
33、last 3 months 4.74.1 Search via ecommerce (% of those who are search-led) 69%72% Steering the future 41 Steering the future Purchasing from online channels gains traction across all markets Online is no longer just one of many channels. For many businesses, it has become their main channel. The omni
34、channel option is no longer optional. Nowhere is this more stark than in the category of groceries. Across Southeast Asia, the number of grocery shoppers who cite online as their most used channel has gone up by 1.5x, from 21% of consumers in 2019 to 32% in 2020.24 Among the six countries, the most
35、notable changes were in Singapore, where online usage nearly tripled to 30%, and Malaysia, where online usage more than doubled to 40% of consumers.24 42 24 “Digital consumers of tomorrow, here today” by Facebook and Bain household appliances and furnishings; clothing, footwear, and accessories; per
36、sonal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnish
37、ings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data ana
38、lysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and bab
39、y care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and accessories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain household appliances and furnishings; clothing, footwear, and acces
40、sories; personal care and beauty; toys and baby care; groceries and food delivery.) Data analysed by Bain many transactions are, too. It is no longer enough for companies to influence buying decisions online and then move back offline to close a sale. Companies should map the full customer journey o
41、nline by transforming their marketing and channel mix to become omnichannel. Executing a digital commerce strategy means planning for the distinct phases of the consumer journey, as indicated in Bains Digital Commerce Acceleration toolkit: Discover 1 Understand consumer omnichannel shopping behaviou
42、r and activation through brand and customer marketing. These include promoting awareness, generating leads, and delivering superior brand and buying experiences. Search 2 Make it easier for consumers find a product through on-site search. This can be done through strategies that make products more v
43、isible and by showcasing ideal stock-keeping units. Consider 3 Provide the right combination of products and a tailored pricing strategy to boost conversion or shopping cart use. Buy 4 Enhance customer loyalty and relationships by improving the purchasing experience and gain insights from buying beh
44、aviour. 54How can brands adapt54 DiscoverSearchConsiderBuy Awareness/lead generation Maximise marketing investments Consumer touchpoints Deliver superior brand and buying experiences Optimised visibility Ensure products are visible and easy to find on your website or online shop Shopper marketing Lo
45、calised and personalised marketing reach Assortment Provide the right assortment and pack sizing Tailored price positioning Provide the right assortment and pricing Perfect product content Enhance buying experience Flawless customer experience Provide seamless and efficient delivery and services Typ
46、ical modules required to perfectly execute on digital commerce Note: Framework adapted from Bains Digital Commerce Acceleration toolkit How can brands adapt55 “Consumers are moving online now for many categories. So, for all consumer packaged goods, ecommerce is even more important and we devise mor
47、e omnichannel strategies moving ahead. Its the growth lever for us, and not a passive channel at all. We choose our partners accordingly, based on category fit and the drive they have to grow together.” “With the onset of COVID-19, we as a company moved to high agility mode and heavily prioritised d
48、igital. Smartphone penetration is so high in Southeast Asia, even in rural areas. Thats why digital channels are more important for consumers in low socio-economic tiers.” “FairPrice has invested heavily to upgrade its online grocery infrastructure to meet increasing demand, including hiring and tra
49、ining staff. We plan to increase online capacity by another 30%.” Hira Triadi Head of Ecommerce Unilever Indonesia Head of Digital Heineken Vietnam General Manager FairPrice Sailing forward: The age of enablers 56 Sailing forward: The age of enablers More deals for digital disruptors as unspent capital grows Private equity funds and venture capital firms have been accumulating billions of dollars in unspent capital in the past decade, according to data compiled by Bain & Company.29 This record amount of unu
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