Japan is the second-largest retail market globally. For decades Japanese consumer’s preferences and cultural trends have been influential trend setting phenomenona. To understand how global consumer trends are transforming, it is important to look Japanese consumers behavior and attitudes towards consuming. Today we see behavior shifting. The change of Japanese consumers is not only about what people in Tokyo buy, but also how and what they think when they make decisions for purchases.
Future Watch report and analysis of consumer trends and lifestyles in Japan was done in collaboration with Euromonitor International’s Tokyo office researchers.
A recent Future Watch study on consumer trends in South Korea explores and analyzes key consumer trends that are shaping South Korean society and how these trends are likely to evolve over the next three to five years. The study is echoing future consumer trends not only in Asia but also in Europe. It is now clear that mobile and online shopping will become the main retail channel, and technologies like virtual reality (VR), augmented reality (AR), artificial intelligence (AI) and big data are changing the retail landscape.
A recent Future Watch study identifies and describes future consumer trends in Mainland China and Hong Kong over the next 2-10 years. These trends are likely to impact the products and services these consumers buy and the marketing they respond to. It aims to identify significant trends that are specific to China’s unique market.
Central to the forecasting is identifying 12 consumer roles that represent key China trends. Each role has an accompanying case study which explains how brands are starting /planning to tap into these nascent trends.
The document discusses upcoming transformations in healthcare delivery models by 2025. It notes that current systems are straining to meet demands due to aging populations and rising chronic diseases. Healthcare will shift towards preventative, patient-centric models using digital technologies to enable anytime, anywhere access. This will involve moving care locations closer to patients' homes and empowering individuals to take ownership of their health through tools that monitor health and wellness. By 2025, digital health solutions will be more commonplace as reimbursement policies change and technology-savvy generations increase adoption of tools like wearables, telehealth, and mobile health.
Eastern Online Consumer Research Group released a snapshot of Taiwanese consumer behaviors in April 2021. The report found that consumers' shopping desire reached a new peak and there was a revival in desires for a good life. While nearly 30% of consumers were willing to share personal phone numbers or make public posts, only 10% were comfortable making religion or politics public. The report also found that 60% of consumers still have concerns about crowded commercial spaces, and that 60% would only feel safe when 75% of the population is vaccinated. The report provided suggestions for marketers to take advantage of rising consumer spending while addressing safety concerns around COVID-19.
The document summarizes an assessment of growth opportunities for the Finnish bio-bank ecosystem. It conducted interviews with biobanks globally to understand best practices, as well as end-users to understand their needs. Key findings include:
- Oncology clinical development, genome sequencing, and digital pathology were identified as major growth opportunities.
- Interviews found that marketing outreach, defined engagement models, and strategic partnerships are important for customer relationships.
- End-user interviews focused on service alignment, criteria for selecting biobanks, and partnership fit. Understanding end-user needs is critical for growth.
The document summarizes consumer behavior research from Eastern Online Consumer Research Group. It finds that while 50% of consumers implement environmental protection methods, there is still low discussion of corporate social responsibility. Analysis of body wash sales from April 2021 in Taiwan's POYA and Carrefour markets showed fragrance, affordable price, and brands from Korea and Japan were most popular. The document suggests companies strengthen consumer interaction on environmental practices and increase discussion of corporate philanthropy to improve social impact.
Ifm executive summary report jan july 2020 vn covid consumer behavior impactDienPham20
As of July 31, Vietnam had 546 COVID cases and 2 deaths. After over 100 days without domestic infections, 104 new cases emerged in Danang starting July 24. Consumer behavior tracking from January to July found that while confidence increased slightly from May to July, it remains low. Future economic outlook is still negative, with high risk perceptions around COVID's impact on business, unemployment, and infection. Non-essential purchases have significantly decreased, and behaviors like eating at home and working remotely appear permanent shifts. Choice architecture has been rapidly transformed by the pandemic.
Japan is the second-largest retail market globally. For decades Japanese consumer’s preferences and cultural trends have been influential trend setting phenomenona. To understand how global consumer trends are transforming, it is important to look Japanese consumers behavior and attitudes towards consuming. Today we see behavior shifting. The change of Japanese consumers is not only about what people in Tokyo buy, but also how and what they think when they make decisions for purchases.
Future Watch report and analysis of consumer trends and lifestyles in Japan was done in collaboration with Euromonitor International’s Tokyo office researchers.
A recent Future Watch study on consumer trends in South Korea explores and analyzes key consumer trends that are shaping South Korean society and how these trends are likely to evolve over the next three to five years. The study is echoing future consumer trends not only in Asia but also in Europe. It is now clear that mobile and online shopping will become the main retail channel, and technologies like virtual reality (VR), augmented reality (AR), artificial intelligence (AI) and big data are changing the retail landscape.
A recent Future Watch study identifies and describes future consumer trends in Mainland China and Hong Kong over the next 2-10 years. These trends are likely to impact the products and services these consumers buy and the marketing they respond to. It aims to identify significant trends that are specific to China’s unique market.
Central to the forecasting is identifying 12 consumer roles that represent key China trends. Each role has an accompanying case study which explains how brands are starting /planning to tap into these nascent trends.
The document discusses upcoming transformations in healthcare delivery models by 2025. It notes that current systems are straining to meet demands due to aging populations and rising chronic diseases. Healthcare will shift towards preventative, patient-centric models using digital technologies to enable anytime, anywhere access. This will involve moving care locations closer to patients' homes and empowering individuals to take ownership of their health through tools that monitor health and wellness. By 2025, digital health solutions will be more commonplace as reimbursement policies change and technology-savvy generations increase adoption of tools like wearables, telehealth, and mobile health.
Eastern Online Consumer Research Group released a snapshot of Taiwanese consumer behaviors in April 2021. The report found that consumers' shopping desire reached a new peak and there was a revival in desires for a good life. While nearly 30% of consumers were willing to share personal phone numbers or make public posts, only 10% were comfortable making religion or politics public. The report also found that 60% of consumers still have concerns about crowded commercial spaces, and that 60% would only feel safe when 75% of the population is vaccinated. The report provided suggestions for marketers to take advantage of rising consumer spending while addressing safety concerns around COVID-19.
The document summarizes an assessment of growth opportunities for the Finnish bio-bank ecosystem. It conducted interviews with biobanks globally to understand best practices, as well as end-users to understand their needs. Key findings include:
- Oncology clinical development, genome sequencing, and digital pathology were identified as major growth opportunities.
- Interviews found that marketing outreach, defined engagement models, and strategic partnerships are important for customer relationships.
- End-user interviews focused on service alignment, criteria for selecting biobanks, and partnership fit. Understanding end-user needs is critical for growth.
The document summarizes consumer behavior research from Eastern Online Consumer Research Group. It finds that while 50% of consumers implement environmental protection methods, there is still low discussion of corporate social responsibility. Analysis of body wash sales from April 2021 in Taiwan's POYA and Carrefour markets showed fragrance, affordable price, and brands from Korea and Japan were most popular. The document suggests companies strengthen consumer interaction on environmental practices and increase discussion of corporate philanthropy to improve social impact.
Ifm executive summary report jan july 2020 vn covid consumer behavior impactDienPham20
As of July 31, Vietnam had 546 COVID cases and 2 deaths. After over 100 days without domestic infections, 104 new cases emerged in Danang starting July 24. Consumer behavior tracking from January to July found that while confidence increased slightly from May to July, it remains low. Future economic outlook is still negative, with high risk perceptions around COVID's impact on business, unemployment, and infection. Non-essential purchases have significantly decreased, and behaviors like eating at home and working remotely appear permanent shifts. Choice architecture has been rapidly transformed by the pandemic.
This document summarizes the key findings of a survey on Taiwanese consumer behaviors and spending plans related to the government's Quintuple Stimulus Vouchers program:
1. The survey of 1,000 consumers found that around 47% plan to receive digital vouchers, up significantly from last year, reflecting increased comfort with non-cash payments during the pandemic. 35% see the vouchers as extra money to spend.
2. Nearly half of estimated spending is on daily household items and necessities. Popular planned purchases include small durable goods, daily meals, and low-cost consumer goods.
3. Over 3.76 million people had signed up for digital vouchers as of September 28th, exceeding the
Eastern Online Consumer Research Group analyzed Taiwanese consumer behavior data from January 2021. They found that about 25% of consumers perceived the economy as poor compared to the previous month, and 31% expected a negative economic outlook over the next 2-3 months. However, 55% expected to increase spending for Lunar New Year. Subscription to streaming services exceeded 20% for the first time, and over 20% of households likely use these services. Podcast listening continues to steadily grow in Taiwan, with the profile of listeners becoming more diverse. The report provides suggestions for marketing, including leveraging popular streaming content and focusing on brand awareness.
Subscription Services in the Context of Market Trends, presented by Jonathan ...bisg
Subscription Services in the Context of Market Trends, presented by Jonathan Stolper, SVP Nielsen Book Americas, at Making Information Pay 2014, a track of IDPF's Digital Book 2014 at Book Expo America, on May 29, 2014
Impact of COVID-19 on Global Consumers and Emerging OpportunitiesSam Ghosh
COVID-19 is a humanitarian crisis as such the world has not seen for generations. For the consumers, it is a shock of unprecedented proportions. Consumer behavior in many sectors is going to change in the post-COVID era. Evidence shows that consumers have become more home-bound, digitally adopted, health-conscious, and community-driven.
While it is true that many industries suffered great losses and likely to struggle for years, opportunities are also emerging especially for emerging tech.
The pandemic has accelerated the shift to eCommerce and delivery services. Not only existing categories and consumer segments experienced a boost - new products and consumer segments found their way to eCommerce and delivery. As people are likely to continue spending more time at home, these sectors likely to see long-term growth. The retail subscription business also got a boost from the pandemic. The growth is driven by daily essentials. Hyper-local commerce, Social Commerce and Group-Buying are getting a stronghold as consumers are becoming more and more community-oriented.
Subscription Video on Demand (SVoD) services saw accelerated growth in both the number of subscribers and viewing time-span. The idea of entertainment is evolving supporting the SVoD sector for the long term.
The messaging apps saw significant growth due to the pandemic. Techcrunch reports that “WhatsApp has seen a 40% increase in usage that grew from an initial 27% bump in the earlier days of the pandemic to 41% in the mid-phase. For countries already in the later phase of the pandemic, WhatsApp usage has jumped by 51%”. As people were forced to stay at home - entertainment also shifted indoors. COVID worked as a boon to the Video Gaming and Esports industry.
COVID-19 has accelerated digital adoption in healthcare. Indian health platform Practo saw a 600% increase in online consultation between March and August 2020.
As COVID-19 forced the Gyms and similar facilities to remain closed, people quickly adopted to use fitness apps, streaming services, wearables, and connected devices. As making time for visits to the gym was inconvenient even before the pandemic, this change of behavior i.e. fitness at home likely to stay in the long term.
Social distancing forced people to buy pharmaceuticals online boosting the growth of online pharma. At the same time, sales of supplements increased significantly as people focused on boosting their immunity.
It is expected that small towns and rural areas are likely to lead the recovery creating opportunities for Agritech and Vernacular Tech.
1. Survey of Food Delivery Service Platform
2. Survey on Green Consumption Incentives
3. Why are Cinnamon Rolls So Popular?
4. EOL 2022 Lifestyle Trends Conference - Highlights
5. Tracking Survey to Consuming Behaviors
Utilization survey to new consumer behaviors
Rankings of hot topic types among consumers
Rankings of mindshare of YouTubers
The document analyzes consumer behavior data from March 2021 in Taiwan. Key findings include:
- Discussion of shopping offers is slowly rising as issues of the international situation decline. Brands should focus on consumption-related issues and provide offers before Mother's Day.
- Usage of food delivery platforms has plateaued above 35% after increasing during the pandemic, indicating integration into daily life.
- Usage of TikTok gradually rose above 20% after declining from its peak.
- New lifestyles post-pandemic mainly focus on online shopping and cooking at home, presenting opportunities in these areas.
- Consumers prefer observing vaccination rather than receiving it immediately, with over half waiting until most people are vaccinated.
Survey of Gift-giving Preferences During Pandemic Period
The gift-giving opportunities brought about by the difficulty of seeing each other.
The gift-giving behaviors in physical and online channels.
The online gift-giving preferences.
Ghost Festival 2021 - PX Mart Snack Buying Analysis
2020 Triple Stimulus Vouchers Survey Review (Quintuple Stimulus Vouchers Survey Report will be Released Soon)
Reception rate
Channel preference: Physical channels
The excess consumption scenario
Tracking Survey to Consuming Behaviors
The document provides a summary of a survey on Taiwanese consumer behaviors in July 2021. Some key findings include:
1) Group buying is on the rise, with over 20% of consumers shopping through groups. This trend has increased due to the pandemic.
2) Most consumers (80%) will not feel reassured in crowded places until vaccination rates reach 75%.
3) Consumers prefer companies that offer promotions to stimulate spending and protect jobs, showing corporate social responsibility is important.
The document also analyzes popular discussion topics, new consumer behaviors, and the influence of top YouTubers on consumer mindshare. Recommendations are made on how companies can adjust their marketing in response
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Survey reveals:
1. Facing Double11/department stores’ anniversary sale, there are fewer impulse purchases in 2020 than last year
2. Sense of Happiness : For the first time, more than 50% of respondents are happy with their current life
3. Challenge of new products: In the wake of the COVID-19 pandemic, consumers give fewer opportunities to new products
The fourth wave covid 19 market survey tw consumer behavior in post-epid...Eastern Online-iSURVEY
This document summarizes the results of a survey conducted in Taiwan on consumer behavior in the post-COVID era. Some key findings include: 1) While consumers remain cautious about spending, the percentage worried about their finances and planning to decrease consumption is declining; 2) Activities like entertainment, finance and education have shifted more online; 3) Consumers are focusing on cleanliness and avoiding crowds when shopping in stores; and 4) Domestic travel is increasing, with some seeing it as making up for lost time during quarantines.
This document summarizes consumer behavior surveys conducted in Taiwan in November 2021.
1. 58% of consumers are still worried about pay cuts and 60% plan to reduce spending in the short term, maintaining austerity.
2. Department store and e-commerce anniversary promotions have less impact as more consumers do not shop or spend less during these periods compared to previous years.
3. Online video and learning platform usage increased during the pandemic but growth has slowed as restrictions have eased, indicating demand for digital content is temporarily boosted by lockdowns.
How retailers are preparing for the post-coronavirus recoveryHeather Hanselman
The document summarizes the results of a survey of 98 senior retail executives across five retail segments regarding the impact of COVID-19 on their businesses. Key findings include:
- Over 80% of respondents have closed some stores due to COVID-19, with apparel retailers being most impacted.
- Respondents expect it will take several months for store traffic to return to pre-COVID levels, with apparel/department store executives being the least optimistic.
- Respondents anticipate online sales penetration will remain 6-13 percentage points higher than pre-COVID levels after the crisis ends.
Survey results: Consumer discretionary spending in ChinaHeather Hanselman
The document summarizes survey results from McKinsey & Company on consumer purchase intent and behavior in China for mobile phones and large domestic appliances during the COVID-19 pandemic. For mobile phones, the survey found that 93% of respondents still plan to purchase a phone, though some intend to trade down to cheaper models or spend less. For large appliances, 94% of respondents either purchased recently or still plan to, but 17% spent less and 39% of future buyers will spend less. Income uncertainty and social guilt were cited as reasons for trading down or canceling purchases. Online channels may see increased preference over physical stores long term.
Survey results: Consumer discretionary spending in IndonesiaHeather Hanselman
- A majority of respondents in Indonesia expect to recover lost income and savings from the lockdown within one year. However, many plan to cut back on purchases in various categories due to economic uncertainty.
- For apparel purchases, 19% of those originally planning to buy say they will indefinitely postpone or cancel purchases. Higher-income respondents are less likely to forego certain categories like sportswear.
- While most respondents look forward to returning to physical stores, price sensitivity has increased in the short-term. Long-term spend may rise for higher-income groups but fall for others due to economic concerns.
- 85% of the population in Vietnam's four largest cities purchase goods under promotion each year, with gifted purchases being the most popular promotion type at 58% of promotion value.
- Modern trade channels offer more promotions than traditional grocers and attract 34% of consumers who dedicate about 10% of their shopping basket to promoted items.
- Promotions are most common during the lead-up to Tet, with spending under promotion increasing 50% during the Tet period and 30% in the preceding four weeks compared to normal months. However, promotions have limited impact on brand trial and show no significant positive effect on brand share after the promotion period ends.
This document provides an analysis of Taiwanese consumer behavior data from February 2021. It finds that while concerns about the pandemic remain, consumer confidence is improving with reduced Covid cases and vaccine availability. Consumers are still acting cautiously by limiting unnecessary outdoor activities. The acceptance of "pricing on demand" services reached new highs, indicating this business model will likely grow. Younger consumers see family rituals as represented by things like family photos, while older consumers focus more on shared meals. Overall, the pandemic continues to strongly influence consumer behaviors and confidence.
Researched How customers ' buying behaviors are likely changing due to the Covid-19 situation. You will find detailed insights into consumers' perceptions of this presentation.
1. Tracking Survey: How Omicron outbreak affected consumer’s behaviours?
2. Relationship related topics decrease among lunar new year holidays
3. Big Data Research of E-invoice: Here comes Housework Queen!!
4. Tracking Survey to Consuming Behaviors
//Utilization survey to new consumer behaviours
//Rankings of hot topic types among consumers
//Rankings of mindshare of YouTubers
The health crisis and the unprecedented disruption caused by COVID-19 have had profound impacts on economies, businesses and consumers worldwide, changing the way consumers live, work and shop.
Uncertainty remains high, but what is clear is that economies will not emerge unscathed and the daily routines and lifestyles of consumers will shift to accommodate continued social distancing. Whilst treatment and vaccine options are investigated, and potentially into the longer term, a new normal will emerge, as fears of a pandemic or other destructive events remain palpable.
The document discusses the impact of COVID-19 on various areas including the global and Indian economy, business sectors, society, and education. Some key points:
- The pandemic severely impacted the global and Indian economy through reduced GDP growth, decline in market investments, disruption of supply chains, and job losses.
- Major business sectors like automobile, real estate, healthcare, and services were negatively impacted through shutdowns, reduced demand, cash crunch, and delayed payments.
- The education sector faced challenges like transition to online learning, lack of resources for some students, and pressure on teachers.
- Socially, lockdowns increased domestic violence, revived social discrimination, negatively impacted mental health and living standards,
This document summarizes the key findings of a survey on Taiwanese consumer behaviors and spending plans related to the government's Quintuple Stimulus Vouchers program:
1. The survey of 1,000 consumers found that around 47% plan to receive digital vouchers, up significantly from last year, reflecting increased comfort with non-cash payments during the pandemic. 35% see the vouchers as extra money to spend.
2. Nearly half of estimated spending is on daily household items and necessities. Popular planned purchases include small durable goods, daily meals, and low-cost consumer goods.
3. Over 3.76 million people had signed up for digital vouchers as of September 28th, exceeding the
Eastern Online Consumer Research Group analyzed Taiwanese consumer behavior data from January 2021. They found that about 25% of consumers perceived the economy as poor compared to the previous month, and 31% expected a negative economic outlook over the next 2-3 months. However, 55% expected to increase spending for Lunar New Year. Subscription to streaming services exceeded 20% for the first time, and over 20% of households likely use these services. Podcast listening continues to steadily grow in Taiwan, with the profile of listeners becoming more diverse. The report provides suggestions for marketing, including leveraging popular streaming content and focusing on brand awareness.
Subscription Services in the Context of Market Trends, presented by Jonathan ...bisg
Subscription Services in the Context of Market Trends, presented by Jonathan Stolper, SVP Nielsen Book Americas, at Making Information Pay 2014, a track of IDPF's Digital Book 2014 at Book Expo America, on May 29, 2014
Impact of COVID-19 on Global Consumers and Emerging OpportunitiesSam Ghosh
COVID-19 is a humanitarian crisis as such the world has not seen for generations. For the consumers, it is a shock of unprecedented proportions. Consumer behavior in many sectors is going to change in the post-COVID era. Evidence shows that consumers have become more home-bound, digitally adopted, health-conscious, and community-driven.
While it is true that many industries suffered great losses and likely to struggle for years, opportunities are also emerging especially for emerging tech.
The pandemic has accelerated the shift to eCommerce and delivery services. Not only existing categories and consumer segments experienced a boost - new products and consumer segments found their way to eCommerce and delivery. As people are likely to continue spending more time at home, these sectors likely to see long-term growth. The retail subscription business also got a boost from the pandemic. The growth is driven by daily essentials. Hyper-local commerce, Social Commerce and Group-Buying are getting a stronghold as consumers are becoming more and more community-oriented.
Subscription Video on Demand (SVoD) services saw accelerated growth in both the number of subscribers and viewing time-span. The idea of entertainment is evolving supporting the SVoD sector for the long term.
The messaging apps saw significant growth due to the pandemic. Techcrunch reports that “WhatsApp has seen a 40% increase in usage that grew from an initial 27% bump in the earlier days of the pandemic to 41% in the mid-phase. For countries already in the later phase of the pandemic, WhatsApp usage has jumped by 51%”. As people were forced to stay at home - entertainment also shifted indoors. COVID worked as a boon to the Video Gaming and Esports industry.
COVID-19 has accelerated digital adoption in healthcare. Indian health platform Practo saw a 600% increase in online consultation between March and August 2020.
As COVID-19 forced the Gyms and similar facilities to remain closed, people quickly adopted to use fitness apps, streaming services, wearables, and connected devices. As making time for visits to the gym was inconvenient even before the pandemic, this change of behavior i.e. fitness at home likely to stay in the long term.
Social distancing forced people to buy pharmaceuticals online boosting the growth of online pharma. At the same time, sales of supplements increased significantly as people focused on boosting their immunity.
It is expected that small towns and rural areas are likely to lead the recovery creating opportunities for Agritech and Vernacular Tech.
1. Survey of Food Delivery Service Platform
2. Survey on Green Consumption Incentives
3. Why are Cinnamon Rolls So Popular?
4. EOL 2022 Lifestyle Trends Conference - Highlights
5. Tracking Survey to Consuming Behaviors
Utilization survey to new consumer behaviors
Rankings of hot topic types among consumers
Rankings of mindshare of YouTubers
The document analyzes consumer behavior data from March 2021 in Taiwan. Key findings include:
- Discussion of shopping offers is slowly rising as issues of the international situation decline. Brands should focus on consumption-related issues and provide offers before Mother's Day.
- Usage of food delivery platforms has plateaued above 35% after increasing during the pandemic, indicating integration into daily life.
- Usage of TikTok gradually rose above 20% after declining from its peak.
- New lifestyles post-pandemic mainly focus on online shopping and cooking at home, presenting opportunities in these areas.
- Consumers prefer observing vaccination rather than receiving it immediately, with over half waiting until most people are vaccinated.
Survey of Gift-giving Preferences During Pandemic Period
The gift-giving opportunities brought about by the difficulty of seeing each other.
The gift-giving behaviors in physical and online channels.
The online gift-giving preferences.
Ghost Festival 2021 - PX Mart Snack Buying Analysis
2020 Triple Stimulus Vouchers Survey Review (Quintuple Stimulus Vouchers Survey Report will be Released Soon)
Reception rate
Channel preference: Physical channels
The excess consumption scenario
Tracking Survey to Consuming Behaviors
The document provides a summary of a survey on Taiwanese consumer behaviors in July 2021. Some key findings include:
1) Group buying is on the rise, with over 20% of consumers shopping through groups. This trend has increased due to the pandemic.
2) Most consumers (80%) will not feel reassured in crowded places until vaccination rates reach 75%.
3) Consumers prefer companies that offer promotions to stimulate spending and protect jobs, showing corporate social responsibility is important.
The document also analyzes popular discussion topics, new consumer behaviors, and the influence of top YouTubers on consumer mindshare. Recommendations are made on how companies can adjust their marketing in response
B2B decision-maker preferences and behaviors have shifted dramatically since the onset of COVID. The GTM revolution is here and B2B sales is forever changed.
Survey reveals:
1. Facing Double11/department stores’ anniversary sale, there are fewer impulse purchases in 2020 than last year
2. Sense of Happiness : For the first time, more than 50% of respondents are happy with their current life
3. Challenge of new products: In the wake of the COVID-19 pandemic, consumers give fewer opportunities to new products
The fourth wave covid 19 market survey tw consumer behavior in post-epid...Eastern Online-iSURVEY
This document summarizes the results of a survey conducted in Taiwan on consumer behavior in the post-COVID era. Some key findings include: 1) While consumers remain cautious about spending, the percentage worried about their finances and planning to decrease consumption is declining; 2) Activities like entertainment, finance and education have shifted more online; 3) Consumers are focusing on cleanliness and avoiding crowds when shopping in stores; and 4) Domestic travel is increasing, with some seeing it as making up for lost time during quarantines.
This document summarizes consumer behavior surveys conducted in Taiwan in November 2021.
1. 58% of consumers are still worried about pay cuts and 60% plan to reduce spending in the short term, maintaining austerity.
2. Department store and e-commerce anniversary promotions have less impact as more consumers do not shop or spend less during these periods compared to previous years.
3. Online video and learning platform usage increased during the pandemic but growth has slowed as restrictions have eased, indicating demand for digital content is temporarily boosted by lockdowns.
How retailers are preparing for the post-coronavirus recoveryHeather Hanselman
The document summarizes the results of a survey of 98 senior retail executives across five retail segments regarding the impact of COVID-19 on their businesses. Key findings include:
- Over 80% of respondents have closed some stores due to COVID-19, with apparel retailers being most impacted.
- Respondents expect it will take several months for store traffic to return to pre-COVID levels, with apparel/department store executives being the least optimistic.
- Respondents anticipate online sales penetration will remain 6-13 percentage points higher than pre-COVID levels after the crisis ends.
Survey results: Consumer discretionary spending in ChinaHeather Hanselman
The document summarizes survey results from McKinsey & Company on consumer purchase intent and behavior in China for mobile phones and large domestic appliances during the COVID-19 pandemic. For mobile phones, the survey found that 93% of respondents still plan to purchase a phone, though some intend to trade down to cheaper models or spend less. For large appliances, 94% of respondents either purchased recently or still plan to, but 17% spent less and 39% of future buyers will spend less. Income uncertainty and social guilt were cited as reasons for trading down or canceling purchases. Online channels may see increased preference over physical stores long term.
Survey results: Consumer discretionary spending in IndonesiaHeather Hanselman
- A majority of respondents in Indonesia expect to recover lost income and savings from the lockdown within one year. However, many plan to cut back on purchases in various categories due to economic uncertainty.
- For apparel purchases, 19% of those originally planning to buy say they will indefinitely postpone or cancel purchases. Higher-income respondents are less likely to forego certain categories like sportswear.
- While most respondents look forward to returning to physical stores, price sensitivity has increased in the short-term. Long-term spend may rise for higher-income groups but fall for others due to economic concerns.
- 85% of the population in Vietnam's four largest cities purchase goods under promotion each year, with gifted purchases being the most popular promotion type at 58% of promotion value.
- Modern trade channels offer more promotions than traditional grocers and attract 34% of consumers who dedicate about 10% of their shopping basket to promoted items.
- Promotions are most common during the lead-up to Tet, with spending under promotion increasing 50% during the Tet period and 30% in the preceding four weeks compared to normal months. However, promotions have limited impact on brand trial and show no significant positive effect on brand share after the promotion period ends.
This document provides an analysis of Taiwanese consumer behavior data from February 2021. It finds that while concerns about the pandemic remain, consumer confidence is improving with reduced Covid cases and vaccine availability. Consumers are still acting cautiously by limiting unnecessary outdoor activities. The acceptance of "pricing on demand" services reached new highs, indicating this business model will likely grow. Younger consumers see family rituals as represented by things like family photos, while older consumers focus more on shared meals. Overall, the pandemic continues to strongly influence consumer behaviors and confidence.
Researched How customers ' buying behaviors are likely changing due to the Covid-19 situation. You will find detailed insights into consumers' perceptions of this presentation.
1. Tracking Survey: How Omicron outbreak affected consumer’s behaviours?
2. Relationship related topics decrease among lunar new year holidays
3. Big Data Research of E-invoice: Here comes Housework Queen!!
4. Tracking Survey to Consuming Behaviors
//Utilization survey to new consumer behaviours
//Rankings of hot topic types among consumers
//Rankings of mindshare of YouTubers
The health crisis and the unprecedented disruption caused by COVID-19 have had profound impacts on economies, businesses and consumers worldwide, changing the way consumers live, work and shop.
Uncertainty remains high, but what is clear is that economies will not emerge unscathed and the daily routines and lifestyles of consumers will shift to accommodate continued social distancing. Whilst treatment and vaccine options are investigated, and potentially into the longer term, a new normal will emerge, as fears of a pandemic or other destructive events remain palpable.
The document discusses the impact of COVID-19 on various areas including the global and Indian economy, business sectors, society, and education. Some key points:
- The pandemic severely impacted the global and Indian economy through reduced GDP growth, decline in market investments, disruption of supply chains, and job losses.
- Major business sectors like automobile, real estate, healthcare, and services were negatively impacted through shutdowns, reduced demand, cash crunch, and delayed payments.
- The education sector faced challenges like transition to online learning, lack of resources for some students, and pressure on teachers.
- Socially, lockdowns increased domestic violence, revived social discrimination, negatively impacted mental health and living standards,
Consumer Behavior During COVID-19: Understanding ConsumerProweaver, Inc
COVID-19 has created shifts in consumer behavior. Find out how your business is affected by these changes and the different ways Proweaver can help.
Originally published at https://www.proweaver.com/consumer-behavior-during-covid19.
The document discusses how consumer goods are being impacted by the COVID-19 pandemic in sub-Saharan Africa. It finds that consumer expenditure has been negatively affected as value seeking consumers prioritize essential products. E-commerce penetration is expected to continue growing as shifts in consumer behavior become permanent. Industries like packaged food, alcoholic drinks, and beauty products will see consumers favor affordable options and value as economic challenges remain.
How can you make a better business decision during COVID-19 outbreak?Siriwan Siriwangsanti
The objective of this report is to gather publicly available information for the purpose of helping marketers make better business decisions in time of a recession.
This is not an opinion piece and therefore does not contain an explicit analysis of the views presented. This presentation is merely consolidated information from Kantar Worldpanel, Nielsen, WARC, attentive, Deloitte, Global Web Index, and articles from publishers
The Coronavirus pandemic : All that you need to knowMehulVerma14
This document provides information about Mehul Verma who is studying B.Sc. Actuarial Science with a batch of 2019-2022. It then goes on to discuss the COVID-19 pandemic and its impacts on various sectors including healthcare, economy, businesses, education, and the environment. It also talks about how various industries like banking, insurance, and IT are adapting to the new normal and increasingly relying on digital technologies. Actuarial science is gaining importance in assessing risks and financial impacts of the pandemic.
TOP 10 GLOBAL CONSUMER TRENDS 2021GINA WESTBROOK ATakishaPeck109
TOP 10
GLOBAL
CONSUMER
TRENDS
2021
GINA WESTBROOK
ALISON ANGUS
Not to be distributed without permission.
The data included in this document is accurate according to
Passport, Euromonitor International’s market research database,
at time of publication: January 2021
IntroductIon 1
THE BIG PICTURE
Every year, Euromonitor International identifies emerging
and fast-moving trends that are expected to gain traction in
the year ahead. These trends provide insight into changing
consumer values, exploring how consumer behaviour is
shifting and causing disruption for businesses globally.
Each of the 10 trends in this report follows the same format:
• Overview and defining characteristics
• Consumer behaviour and motivation
• Business environment and impact
• Outlook and strategic recommendations
2
The world changed for good, and bad, in 2020. The Coronavirus
(COVID-19) pandemic affected us all, and we acclimatised.
Emerging habits accelerated, and how we now behave,
spend and consume will never be the same. In 2021, we are
adjusting our actions, which can differ amongst consumers and
sometimes conflict.
We want to make the world better — either for our own sake or
for humanity. We want new ways to make life both convenient
and safe, inside and outside. Where we have the ability, we are
balancing our time creatively. Amidst the anxiety and turmoil, we
seek holistic, resilient solutions, more thoughtful consumption
and, in some cases, ways to fight back.
Resilience and adaptability are the driving forces behind the
top global consumer trends in 2021. The pandemic created,
influenced or accelerated each of these 10 trends, forever
altering consumer behaviour. Despite the hardships faced in
2020, consumers have not given up. They continue to find their
voice and push forward to advocate for a better tomorrow.
WHAT
ARE WE
IN 2021?
BuIld Back Better 3
BUILD BACK
BETTER
a Second cHance to create a
Better Future
Consumers demand that companies care beyond revenue, and they
no longer perceive businesses as profit-driven entities. Protecting the
health and interest of society and the planet is the new expectation,
following COVID-19, in order to Build Back Better.
Companies should help reshape the world in a more sustainable way,
leading a shift from a volume- to a value-driven economy and turning
the tide on social inequity and environmental damage.
BuIld Back Better 4
THE GREAT BEHAVIOURAL RESET
Using less plastic was the top priority for consumers
pre-COVID-19, followed by concerns over climate change.
During the pandemic, public attention shifted from
slower-moving environmental threats towards urgent social
priorities. Consumers expected brands to protect the health
and wellbeing of their workforce while also helping local
communities.
The health crisis profoundly impacted people’s needs and
shopping habits. Higher empathy for brands with a strong
sense of social re ...
- Consumer behavior has changed in response to the coronavirus pandemic, with people focusing on essential goods and online activities. Brands should respond by ensuring reliable supply, acting responsibly, and adjusting communications to focus on health, safety, and financial planning.
- Digital marketing strategies like livestreaming can help brands engage with anxious consumers and shift resources from offline to online. Passionation offers livestreaming production capabilities and influencer networks to help brands during this challenging time.
COVID-19: Consumer Insights & Digital Trends innity
The COVID-19 pandemic has shaken many businesses globally. Some brands have allocated their marketing budget to either helping in the efforts to beat the virus and/or shifted their focus on digital strategies. Here we tackle the statistics on the Coronavirus outbreak, how consumers are reacting, and how brands should respond to the situation.
Passionation is a content and influencer marketing company that connects brands and influencers together to create projects that speak to different types of audiences and industries: Automotive, FMCG, Travel and Leisure, Health and Wellness, Banking and Finance, Fashion and Retail, and more.
Learn more: https://passionation.co/ph/
For inquiries and consultations, reach out to us via email at ph.marketing@passionation.co
Handouts on Rapid Analysis of Innovation Response to Covid-19 Pandemic in Nig...KTN
In January 2020, the World Health Organization confirmed that a novel coronavirus was the cause of a respiratory illness in a cluster in Wuhan, China. Since then, the virus has spread all over the world and the year 2020 has become synonymous with this spread and the global response to it.
Africa has not been spared, with the continent recording its first case in February 2020. This global pandemic has continued its devastation in Africa. By the end of June 2020, the situation in our three focus countries were as follows: Kenya (over 6,000 cases and 144 deaths), Nigeria (over 25,000 cases and over 570 deaths) and South Africa (over 150,000 cases and more than 2,650 deaths). This has led to many within the national innovation ecosystems in the three countries to look for ways to address the impacts of the pandemic.
In order to track the impact of the pandemic, AfriLabs and the KTN Global Alliance worked together to deliver a rapid analysis of innovation response to COVID-19 pandemic in Africa, with focus on Kenya, Nigeria and South Africa. The aim of the analysis was to inform the UK’s Department for International Development (DFID) and the KTN Global Alliance on how to render effective support to innovation systems in Africa to respond to the Covid-19 pandemic, as well as to provide lessons and best practices to strengthen the innovation response to future crises.
The reshaping of indian minds citizens consumers & brandsLeapfrogStrategy
We looked beyond the obvious to identify the deeper meanings emerging from brands and communication and their likely effects on consumption. @visit www.leapfrogstrategy.com
Intage india report for covid 19 phase 2 aug2020 IntageIndia
INTAGE India has conducted a survey across India in order to capture the journey of consumers with facts and figures as well as their emotional reactions in this regard - how our society would be changing during the unlock period and the new normal life in the future.
We conducted the 1st phase of our survey in April 2020 (during lockdown) and have conducted the 2nd phase (during unlock) to assess and forecast the situation.
The negative consequences of Covid-19 pandemic from lockdowns of whole countries, travel bans,
and the closure of shops and service points have disrupted the economic and social balance of the whole world.
Consequently, consumer’s buying behavior and their shopping criteria has been negatively affected. In this
research paper we try to find out the changes
Survival of Small Scale Businesses during Covid 19 Pandemic Challenges, Impac...ijtsrd
The study examined the Survival of small scale businesses during covid 19 pandemic challenges, impact and strategies in Anambra State. Relevant literature was reviewed. Descriptive research design was adopted. This study was carried out in Anambra, Nigeria. The population of study comprised 7061 register small scale businesses in. Content Validity of instrument was adopted. The researcher used test retest and Cronbach’s alpha was used to verify the internal consistency of each construct in order to achieve reliability of instrument. Descriptive statistics such as mean and standard deviation was used to present quantitative data in form of tables. The study also employed Multiple Regression Analysis MRA method to evaluate the effect of COVID 19 pandemic and the survival of small scale businesses in Anambra state, Nigeria. Challenges faced by small scale businesses during the covid 19 pandemic has a positive significant effect on the survival of small scale businesses in Anambra state. Lockdown on the revenue of small scale businesses during Covid 19 pandemic has a negative significant effect on the survival of small scale businesses in Anambra state. Strategies taken for the survival of small scale businesses during Covid 19 pandemic has on positive significant effect on the survival of small scale businesses in Anambra State. The study concluded that Covid 19 survival strategies has on positive significant effect on small scale businesses in Anambra State. The study recommended that Anambra State government should drastically reduce the costs of governance and operation and provide strategies for accessing grants and loans from international community in order to enhance SMEs in the state. That the government should provide financial supports for the diversification of various aspects of small and medium enterprises SMEs such as agriculture, manufacturing, beauty cosmetics etc. in order to be responsive to the impact of COVID 19 in the country and government should provide technological equipment for effectiveness and efficiency of small and medium enterprises SMEs especially by promoting digital economy through delivery and payment system. More importantly, the focus should be on integration of the digitization into business operations in order to explore the emerging business opportunities in the country. Nwankwo Ekene Ezinwa | Uchenu Chimezie Adamma | Idemobi Ellis Ifeanyi "Survival of Small-Scale Businesses during Covid-19 Pandemic; Challenges, Impact and Strategies in Anambra State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-2 , April 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd55174.pdf Paper URL: https://www.ijtsrd.com.com/management/business-economics/55174/survival-of-smallscale-businesses-during-covid19-pandemic-challenges-impact-and-strategies-in-anambra-state/nwankwo-ekene-ezinwa
Impact of WFH on Marketing Anomalies, Social, And Economic During the Covid-1...AJHSSR Journal
ABSTRACT : This research is a descriptive qualitative research and takes the object in Surabaya. Data were
collected from theoretical and empirical literature, as well as in-depth interviews with informants, then data analysis
was carried out. The results of the analysis show that the cause of the economic anomaly, namely the low
purchasing power of the people, causes a decline in production in the real sector. The cause of the marketing
anomaly is that some companies do not want to provide products according to consumer needs, outof business, on
the other hand, companies that are good at taking advantage of this pandemic have turned to consumer products so
they can make a profit. People are forced to be technology literate to be able to take part in online marketing. The
causes of social anomalies include: the impact of the PSBB is that employees are laid off either temporarily or
permanently. At the time of being laid off, there were companies that gave full salaries, some gave salaries with
certain deductions, some were not paid at all. One side of the employee wants to get a salary when he comes to
work, the other side threatens his health because of the Corona
The document reports on findings from a Vietnam consumer survey conducted during COVID-19 which show that while consumer spending has shifted towards necessities, sentiment remains optimistic. It examines consumer behavior through the lenses of four personas and explores changes in their heart (sentiment), wallet (spending), and mind (purchasing drivers). Key findings include a boost in digital behavior but continued preference for physical shopping, as well as a desire for better purchasing experiences.
The appearance of coronavirus recently represents the most difficult pandemic that caused a big impact on various economic sectors worldwide. Governments have been enforcing different approaches to minimize the effect of COVID-19 on public health through lockdown procedures, restrictions on the movement of individuals, and practicing social distancing. These actions have affected most of the businesses as the purchase behaviours of consumers changed drastically which caused significant implications on profitability and the effectiveness of marketing practices. The main objective of this paper is to discuss the impact of COVID-19 on marketing strategies and actions of different organizations. In summary, several marketing actions have been influenced by the spread of COVID-19, such as corporate social responsibility (CSR), consumption pattern, advertising, marketing communication program, and supply chain.
Insight & Data Compilation on Covid-19 the NEW NORMALl in indonesiaSeno Pramuadji
This document summarizes the impact of COVID-19 on various industries and consumer behavior in Indonesia. It shows that industries like airlines, retail, hospitality, restaurants, and luxury goods have seen estimated losses of tens to hundreds of billions of dollars. It also outlines trends in Indonesia like increased online searches for health products and a rise in purchases of items like thermometers, masks, vitamins, and hand sanitizers. Consumer behaviors have shifted with more time spent at home, increased online shopping and education, and a focus on preventative health measures.
Similaire à Future Watch: Consumer trends and lifestyles in Japan and South Korea in light of the covid 19 pandemic (20)
Future Watch summary: Future growth opportunities in global biobanks marketTeam Finland Future Watch
This Future Watch report compares the current status of forerunning biobanks in Finland, Denmark, Sweden, UK and USA, analyze the needs and views of key biobank customer segments as well as offer key recommendations for Finnish biobank to gain a larger footprint in the biobank market.
ASEAN is increasingly becoming a vital economic force in Asia and a driver of global growth with a young, abundant workforce. Simultaneously, the region is witnessing significant productivity improvement in sectors such as manufacturing, retail, telecommunications and transportation.
The presentation is a summary presentation from a study Situational Awareness Solutions which collects together use cases for situational awareness capabilities and prioritizes these in context of user perception and readiness, availability and accessibility of technology, ease and likelihood of adoption, as well as regulations and competing substitutes. Finally it analyzes the relevance of assessed use cases to United States, Germany and Japan. The application areas discussed cover, amongst other, ecology and environment, disaster management, logistics and transport as well as critical infrastructure management.
Recent technology developments in the information technology space have opened new horizons for the maritime industry. "Digital ports" refers to application of digital technologies of digital technologies such as machine learning, data analytics, visualization, cloud and advanced wireless communications technology to the Port Ecosystem that are driving innovations and enabling business efficiency.
China faces significant challenges in ensuring sufficient food production due to limited arable land. Only 7% of global arable land is in China yet it must feed 25% of the world's population. Urbanization is reducing available farmland while current farming methods are inefficient. Technology is seen as key to addressing this - vertical farming, robotics, AI and big data can boost productivity. However, challenges remain around soil contamination and public acceptance of GMOs. Future opportunities exist in cleantech, new production methods, and innovations that enable more to be grown with fewer resources.
1) Developed countries aim to increase patient accountability and focus on education and awareness programs to promote healthier lifestyles.
2) Developing countries struggle to meet basic healthcare demands of large populations due to limited funding and infrastructure.
3) Examples provided of successful programs in Finland and the US that use incentives and competitions to encourage physical activity and reduce chronic diseases.
- Hong Kong aims to become a world-class smart city and sees smart lamp posts as a key part of this vision, with 50 in use by summer 2019 and a total of 400 planned.
- Smart lamp posts can provide multiple functions like monitoring traffic and air quality, improving mobility and environmental monitoring. They also expand wireless coverage.
- Their widespread sensor networks generate large amounts of data that can enable new smart city applications and services now and in the future.
A new policy on energy transition was commenced in Taiwan to phase out nuclear power and to introduce substantial power generation capacity from renewable sources by 2025. This transition of energy source and structure represents not only great challenges for Taiwan but also immense business opportunities for industrial developed countries.
Russia is making progress in digital transformation but still lags behind developed countries. The government has identified digitalization as a top priority to improve economic growth and productivity. Key initiatives include the Digital Economy Program with a budget of $18 billion over 2019-2024, the National Technology Initiative to create new digital markets, and e-government reforms to provide public services online. Think tanks are also working to advance Russia's digital transformation through projects in areas like blockchain, AR/VR, and robotics.
The document discusses South Africa's ocean economy and efforts to unlock its potential. It provides definitions and an overview of the global ocean economy, highlighting that its value is expected to double from $1.5 trillion in 2010 to $3 trillion by 2030. In South Africa, Operation Phakisa identified six key sectors for development, including marine transport, offshore oil/gas, aquaculture, marine protection services, small harbors, and coastal tourism. The program has already unlocked $2 billion in investments and over 6,500 jobs. Special economic zones like the Atlantis SEZ also aim to boost exports and investment in green industries.
The document discusses cybersecurity trends in South Africa. Some key points:
1. South Africa has a growing cybersecurity market due to increasing digital transformation and cyber attacks targeting sectors like financial services and healthcare.
2. The cybersecurity market in South Africa is expected to grow from $667 million in 2017 to over $1 billion by 2022, as enterprises allocate more of their IT budgets to security.
3. Common causes of data breaches in South Africa include malicious attacks and human errors, with the financial cost estimated to be around $200 million per year.
Both India's Space and Cyber Defence areas contain gaps to keep up with global development. India’s space defence program is guided by policies to counter the capabilities of China and Pakistan. While India has made long strides with cost effective mission to Mars and a successfully launching record number of satellites, there are several gaps in its space defence. While in the space communication arena, at present, India has extremely limited space-based COMINT (Communications Intelligence) capabilities. Cyber security of satellite communications is another arena for potential collaboration between countries. Also, to achieve complete control of satellite communications & intelligence C4ISR, India needs to have a constellation of satellites in the space with extreme communication technology at disposal. In the Space Situational Awareness area India needs radar-independent tracking methods such as lasers, coherent infrared sensors and space systems with a sole purpose of tracking the functional capabilities of suspected/rogue satellites with military connect.
In cyber-security area, according to Gartner, cyber-security in India is growing to be a $1.5 bn market by 2019 & forecasted to grow over 19% during 2018-2023. Average spend on cyber security is currently at ~3% compared to a global average of 10-15% of the IT budget. India would need a trained pool of million professionals in cyber-security by 2025.
India is expected to be one of the key markets where future growth will emerge. The growth will be primarily driven by a favourable population composition and increasing disposable incomes. India is expected to reach USD 2374 GDP per capita by 2023. Consumer spending will increase in food, housing, transport and communication as well as consumer durables. Some interesting future sectors will benefit, such as sports and electric vehicles. The attached material takes a look also in such consumer related trends as cashless payments, data privacy and AI and technology in consumer businesses.
Future Watch report: According to a research report released by the Indian government, India is facing its ‘worst’ water crisis in history and that demand for potable water will outstrip supply by 2030 if steps are not taken. Twenty-one cities, including Delhi, Bengaluru, Chennai and Hyderabad will run out of groundwater by 2020, affecting 100 million people, the study noted. Combined with industrial water pollution, shrinking rivers and inefficient urban water management system, there will be a 6% loss in the country’s Gross Domestic Product (GDP) by 2050.
China is already the world’s second largest ICT market place. By 2020 the market is estimated to reach USD 850 billion. For the Chinese government, digital, ICT an AI market is not only seen as a business, but it is increasingly seen through national security and social stability lenses. Furthermore, policies to ensure security often appear to do so at the expense of foreign companies. The Cyber Security Law from 2017 has increasingly tightened the operational landscape for foreign companies in China.
Japan, like Finland, compared to USA and China has been seen as a bit latecomer in AI. One reason is that Japan has for decades been a top hardware-oriented industrial country which is producing mainly material objects. But today Japanese government is moving rapidly towards AI.
Biomimetics refers to the imitation of nature e.g. when creating new technical solutions. The solutions may for example improve the properties of products or create totally new kinds of products and materials. Background idea is that there is no better or more efficient solution or system than the ones that have been optimized in the nature. Examples of current solutions inspired by biomimetics include Velcro tape, development of non-reflecting, surfaces and self-healing materials. In nature materials can simultaneously be strong, resilient, and light, and they can have for example hydrophobic properties. These properties and the new possibilities they create are important in utilizing renewable materials and by-products in today’s bio and circular economy.
The Natural Resources Centre Finland surveyed the Finnish research landscape in biomimetics and the related commercial possibilities. Europe, the USA and Japan are leading the research and commercialization of biomimetic solutions. The international co-operation forums in Europe and in the USA are summarized in the survey. The report can be downloaded at www.marketopportunities.fi
Future Watch signal: Trade war between the US and China has triggered the foreign companies in China to rethink their China strategies. Other than multinational companies and those without multi-product lines, are impacted the most, sometimes to the extend that the new situation threatens their business survival. Some companies fear that their businesses might enter into a complete standstill because of a small, low-value component that falls under the sanctions somewhere in their supply chain. Sourcing managers are already busy finding alternate sources in countries where the new US import tariffs don’t apply – at least at this moment.
It’s no secret that the marketing landscape is growing increasingly complex, with numerous channels, privacy regulations, signal loss, and more. One of the biggest problems facing marketers today is that they’re experiencing data deluge and data drought simultaneously.
Bliss Point by Tinuti addresses these challenges by providing a single, user-friendly platform for measuring what marketers previously struggled to measure. With Bliss Point, you can move beyond simply validating past actions and instead use measurement to guide real-time decision-making on what should happen next.
Join our product experts for a live demonstration of Bliss Point. Discover how it can empower your brand with the tools and insights needed to optimize each channel, across your entire media mix, and your overall brand performance.
Secrets of a Successful Sale: Optimizing Your Checkout ProcessAggregage
https://www.onlineretailtoday.com/frs/26905197/secrets-of-a-successful-sale--optimizing-your-checkout-process
Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡
Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue. But payments are just one part of a chain. What’s the next touch point? How do you use the data sitting behind a payment to find the next loyal customer?
In this session you’ll learn:
• The integral relationship between payment experience and customer satisfaction
• Proven methods for optimizing the checkout journey
• Leveraging payments data for personalized marketing and enhanced customer loyalty
• Gain invaluable insights into consumer behavior across online and offline channels through data
7. Japan - economic overview amid COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
• Japan has so far avoided the devastating public health crises seen in
many other countries, despite no compulsory lockdown, thanks to the
many precautionary measures taken by residents and businesses.
• The tax rise in October 2019 and the disruption to economic activity
caused by COVID-19 will result in a sharp decline in GDP in 2020. The
economic outlook will depend on the success of the stimulus package
in response to the financial crisis resulting from COVID-19.
• Consumer sentiment is weak due to financial insecurity. The poor
economic situation has affected job security, reducing overall
consumer income in the mid term.
Status: 17 July 2020
Total cases: 23,739
Active: 4,025
Recovered: 18,729
Deaths: 985
Pre-COVID-19: 0.62%
Baseline: -5.84%
9. COVID-19 brings drastic lifestyle changes in various ways in Japan
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
COVID-19 has highlighted the importance of ethical
living to our society, with strong interest in food waste,
supporting local business etc. People have a desire to
share they value businesses and have empathy with
them.
Ethical Living Connected Consumers
Middle Class Retreat
Healthy Living
Loner Lifestyles
1
2
3
4
5
With deteriorated consumer mood amid COVID-19, the
Japanese became further budget minded, which has led
to spending more carefully. On the other hand, the
adoption of working from home is accelerating, which
creates new demand for co-living and work space.
COVID-19 increased health and hygiene awareness in Japan.
Although the Japanese were already health conscious,
preventative health became top of mind. Apart from wearing
mask and washing hands more frequently, many consumers
are relying on digital self-care solutions and attaching more
importance on boosting immunity, which has positively
impacted demand for immune-boosting foods such as
fermented foods etc.
Digitalisation in Japan is accelerating, with a 94%
(Source: Digima-Japan) internet penetration rate in
2019. COVID-19 puts further reliance on digital
technology across all generations, for example
expanding digital payments, working from home and
usage of SNS, e-commerce shopping, online diagnosis
etc.
The solo economy became not only for single
people but there is increasing desire to secure time
alone amid home seclusion with family members.
Since working from home is becoming more
common due to COVID-19, people have started to
seek more comfortable environments for living and
working.
12. South Korea - economic overview amid COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
• Due to the government's swift action, South Korea was able to contain the
impact of the COVID-19 outbreak. Infected people were quickly identified,
and those who had been in contact with them were recommended to be
tested even if they had no symptoms. As a result, the number of infected
cases declined rapidly, and since the beginning of May, it has stood at
approximately 50 cases a day.
• The economy is expected to shrink in 2020 because of the impact of COVID-
19 on industries and businesses. The total household income is decreasing
due to the higher unemployment rate caused by the pandemic. Many
companies in travel and hotel start to go bankrupt due to the common
infection concerns amongst consumers.
Status: 16 July 2020
Total cases: 13,672
Active: 919
Recovered: 12,640
Deaths: 293
Pre-COVID-19: 2.0%
Baseline: -0.6%
14. Digital lifestyles and more attention to health and wellness are the major changes among
South Korean consumers amid COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
COVID-19 resulted in a significant surge in the
preference for shopping online. Many companies are
putting more resources in expanding product lines to
generate more growth from e-commerce. Competitive
pricing, contactless and timely delivery, and availability
of more options are the major drivers for online sales.
Shopping Reinvented Healthy Living
Loner Lifestyles
Ethical Living
Connected Consumers
1
2
3
4
5
Product innovation to cater to loner consumers has
accelerated. Many food companies are launching
ready-to-eat, easy-to-cook single-serving food
products. Due to COVID-19, loner living, loner
camping and loner trips are expected to grow more. Pre-COVID-19, ethical living was more focused towards
environmental issues. However, after the outbreak of
COVID-19, South Koreans are more concerned about society
and focusing on how to solve social issues together by
prioritising certain actions. Although the environment
remains a priority, at the same time, with social distancing
the sharing economy is not appropriate in this situation.
Thus, it is expected that the question about how to live
responsibly will be the main theme in the near future.
People are paying more attention to their health after
the outbreak of COVID-19. With growing awareness
and concerns, demand for health supplements and
health hygiene products has grown significantly. Due
to COVID-19 preventative health and herbal products
such as red ginseng, which is well known for its
immunity-boosting properties, have become widely
popular among all age groups as health supplements.
The lines between home, work and leisure are
blurring. Due to COVID-19, there is a significant
decline in new physical foodservice outlets opening.
Rather than physical restaurants, consumers prefer
to order their daily food via delivery food apps. As a
result, companies are now focusing more on
delivering greater convenience with digital
development and a better shopping experience
through online platforms.
18. Japan - Megatrends and sub-trends impacted by COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
MEGATRENDS AND SUBTRENDS IDENTIFIED FOR BUSINESS FINLAND
Ethical Living
Middle Class
Retreat
Loner Lifestyles Healthy Living
Sub-trend Sub-trend Sub-trend Sub-trend Sub-trend
Connected
Consumers
• “Mottainai”
• Ethical spending
• Increasing
public
awareness
• Saving money
• Thoughtful
consumption
• Living first
• Spending time
alone
• Solo economy
• Lifestyle change
• Digital life
• Shift to work
from home
• Digital
payment
• Mental
wellbeing
• Boost
immunity
• Digital health
19. Mindful consumption brings happiness to consumers who share the same values
Many manufacturers who relied on global supply chains have suddenly been forced into unprecedented crisis. Given ethical living, the current situation
may provide a valuable opportunity to reset or slow down societies’ excessive consumption. Given the insecure outlook and potential hardships ahead,
there is growing interest in mindful consumption to support and revitalise local economies. Consumers are placing more importance on spending
money on something to share the same value and to show empathy with their vision and the message offered, which gives them a sense of
fulfilment. Amid COVID-19, many businesses facing crisis have been supported by crowd funding, including foodservice, entertainment, arts and cultural
venues, local businesses, etc. The issue of food waste is also highlighted due to supply chain blockages and food often wasted due to cancellation of events,
etc. Many consumers are now happy to support by purchasing products directly via online platforms to maintain domestic businesses.
52.2%
Of survey respondents in Japan reduce plastic
use in 2020
DATA INDICATORS
52.5%Of survey respondents in Japan reduce food
waste in 2020
17.7%Of Japanese consumers make their purchasing
decisions based on brands/companies social
and political beliefs in 2020
COVID-19 IMPACT
• Mutual support: More consumers
started to re-consider the importance of
ethical living to support local society
• Interest in social contribution:
Many local businesses impacted by COVID-
19 are supported by crowd funding
• Concern about food waste:
Increasing interest in reduction of food
waste among business operators and
consumers
WIP
ETHICAL LIVING
20. Ethical spending
There is growing interest in ethical consumption with
consumers spending money to show support for or empathy
with people, services, shops, companies and regions etc
amid the COVID-19 hardship. Many of them are highly
satisfied with their spending due to helping and empathising
with someone/something. For example, total amount of
crowd funding support by Campfire (major crowd funding
company) increased 5.9 times more in May 2020, compared
to May 2019, with over 2,800 projects related to COVID-19.
Mottainai
Amid COVID-19, there is increased food waste stemming
from the cancellation of school lunches, banquets and events
etc and the lockdown period impacting the foodservice
sector etc, which has required emergency measures to
reduce food waste. Many web-based platform apps (e.g.
Savejploss, #sosmapjapan, Wakeari etc) were introduced to
connect producers/food operators with consumers directly,
which helped farmers and local businesses. According to
Consumer affair agency, Japan had over 6 million tonnes of
food waste in 2018. The government has set the target to
reduce food waste to 4.9 million tonnes (half of the amount
of food waste in 2000) by 2030.
Increasing public awareness
Japan faces large-scale natural disasters each year. Ongoing
climate change sees people increase their awareness of
environmental issues. COVID-19 has also highlighted the
importance of life on earth in terms of people’s lives. While
seeking convenience, people/ industries have started to
tackle the issues of food waste and plastic pollution etc. For
example, there will be a charge for plastic bags in stores in
Japan from July 2020.
Supporting together became key to overcome the crisis amid COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
WIP
21. COVID-19 brings more price-conscious mindset and new lifestyles
Since more people are experiencing a decline in income and saving amid COVID-19, consumer confidence has fallen to its lowest level.
While consumers are becoming more careful in their spending, they also seek small indulgences to enjoy at home and make their living
more comfortable, at least, and for relieving stress. For example, sales of luxury food (e.g. high-end confectionery, premium branded beef
etc.) are popular. Demand for functional air cleaners is high. COVID-19 also brings new lifestyles by promoting working from home in
Japan. Many people, especially those who live in urban areas, are struggling to create living and workspaces in small housing units. They
therefore seek more comfortable living and workspaces, which is likely to create new demand in the post-COVID19 period (e.g. house
renovations, functional furniture, moving to more spacious houses in suburban areas, etc).
23.1%
Of Japanese consumers would like to find
bargains in 2020
DATA INDICATORS
17.7%Of Japan consumers prefer to buy fewer, but
higher quality things in 2020, which is
decreased by 3.6% from 2019 (21.3%)
5.5%Of Japanese consumers regularly seek strong
or well-known brands in 2020, which decrease
by 0.3% from 2019 (5.8%)
COVID-19 IMPACT
• Falling household budgets amid
COVID-19: COVID-19 has resulted in job
insecurity and losses, thus reducing
consumer income
• Selecting products carefully: With
low consumer sentiment, consumption
behaviour became more selective and
careful
• Increasing adoption of working
from home: The government is
promoting the adoption of working from
home, resulting in new lifestyles
MIDDLE CLASS RETREAT
22. Thoughtful consumption
Since consumer sentiment has deteriorated amid COVID-19,
consumers are choosing products more carefully. For
example, many consumers are price sensitive and seek value
for money, although they are also happy to spend extra if
they feel it is worth it. Amid COVID-19, they try to make
astute decisions and spend extra for products that offer
small indulgences (e.g. delicious confectionery and premium
branded meat, etc.), which add spice to tedious lives in
quarantine and at least be able to enjoy home life.
Saving money
Japanese consumer sentiment had already hit a low point
due to the tax hike in October 2019. COVID-19 further
affected the dip in consumer mood. More people are trying
to reduce unnecessary expenditure while their spending
increases to purchase food, daily essential items and utilities,
impacted by COVID-19. Many household budgets are
becoming tight and many are saving money as much as
possible given the uncertain future outlook.
Living first
The increasing adoption of working from home encourages
people to consider improving their living and working
environments at home. Many people are struggling to secure
their living and working spaces in small houses in urban
areas during home seclusion with family members. More
people have started to prioritise more space, the surrounding
environment and floor plans to seek more comfortable living
than worrying about the distance to the office. For example,
Nitori (major furniture, household goods retailer) increased
its net profit by 25% in Mar-May 2020 compared to Mar-May
2019.
Middle class consumers are more careful when spending, but find fun in a restricted world
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
23. Solo economy remains active as singles will continue to be a large consumer group in Japan
The COVID-19 pandemic has forced singles to be self-isolated at home. While singles feel further alone due to working from home and avoiding non-
essential outings, many of them appear to feel good about staying at home alone due to lower risk of infection, less stress and secure free time
alone. Many of them try to find enjoyment via digital connection, which offers various forms of hometainment (online games, video streaming services,
SNS etc). The solo economy became not only for single people but there is increasing desire to secure time alone amid home seclusion with family
members. Since working from home is becoming more common due to COVID-19, people have started to seek more comfortable environments for living
and working. For example, there are new developments of residences with shared offices and co-living sharing service platforms across Japan. Post-
COVID-19, single’s lifestyles may become more flexible for living and working.
18.7%Of Japanese survey participants mentioned
that time with partner or spouse is important
for their happiness in 2020
DATA INDICATORS
10.3%Of Japanese survey participants mentioned
that they would like to have a strict boundary
between work and personal life in 2020
38.6%Of Japanese survey participants mentioned
that time for themselves is important for
happiness in 2020
COVID-19 IMPACT
• Home seclusion with quarantine:
People are requested to stay at home to
minimise the risk of infection under the
state of emergency
• Digitalisation: The use of social media,
online games, video streaming services etc
supports their solo lifestyles amid COVID-
19
• Growing single household group:
Products/services for single users continue
to see high demand
LONER LIFESTYLES
24. Solo economy
The solo economy remains active amid COVID-19. Not
only for single people, but products/services for single
use have also received attention due to the desire to
secure free time alone amid home seclusion and
reduce the risk from infection. For example, playing
golf for singles, various kitchen appliances (rice
cookers etc.) for singles by Village Vanguard, Bocchi
indoor home tent (personal workstation tent) by
Bauhutte, meal kit service for single servings by
Yoshikei etc., have gained attention.
Spending time alone
In quarantine under the state of emergency in Japan,
singles spend much time alone watching movies via
video streaming services such as Amazon Prime,
Netflix, Hulu etc. and playing video games. For example,
Animal Crossing: New Horizon video game by
Nintendo recorded the fastest sales growth since its
launch in March 2020, with its popularity underpinned
by the game having a soothing effect and allowing
players to interact with other players.
Lifestyle change
The COVID-19 pandemic is encouraging companies to
adopt working from home practices. A study by
Biglobe reported that 80% think that working from
home will take hold in Japan post-pandemic. Over 50%
are considering moving house due to working from
home to seek more comfortable and wider space.
Single households tend to live in small home units in
urban areas.
Japan offers various solutions for single consumers
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
25. The move towards digitalisation is accelerating in Japan
In order to promote a contactless society amid COVID-19, digital life is accelerating in Japan. Although prior to COVID-19 working from home was not
common in Japan, the government started to encourage many offices to offer working from home, which rapidly changed working and living
environments. With the spread of working from home, many offices managed to leverage digital technology, which increased the usage of web
conferencing, groupware, cloud storage and remote access systems. The government is supporting further penetration of working from home,
especially for small and medium-sized firms by offering subsidies. Cashless payment is also driven by the contactless mindset, despite cash payment
remaining strong in Japan. COVID-19 has further enhanced the move towards digitalisation, which will create new opportunities in Japan.
6.6%Of survey participants in Japan do not own or
have access to any of the consumer appliances
in 2020
DATA INDICATORS
71.1%Of survey participants in Japan browse the
internet almost every day in 2020
17.9%Of survey, respondents use communication or
messaging applications in 2020
COVID-19 IMPACT
• Growing ownership of
smartphones: Smartphone ownership
reached 90% in Japan as of January 2020
• Digitalisation: With government
initiatives, the penetration of working
from home and digital payment is
accelerating
• Hometainment: Home has become the
hub for everything (working, living,
socialising) via online amid COVID-19
Connected Consumers
26. Shift to working from home
In order to reduce the risk of infection from COVID-19, the
government promoted working from home amid the
pandemic. Although working from home was not common in
Japan, the penetration rate has increased from 17% in
November 2019 to 47% in April 2020 based on a survey by
Recruit. The usage rate for web conferencing systems also
increased from 44% in December 2019 to 63% in April
2020. Zoom accounted for 35%, which was the leading
share in web conferencing, according to research by MMRI.
The government is further promoting working from home
by offering subsidies.
Digital life
According to the Digital report in 2019 by We Are Social, the
internet penetration rate in Japan was 94% in 2019. Amid
COVID-19, over 80% of consumers used the internet every
day. Under home seclusion, people rely on digital life, these
digital platforms offer every solution, including work,
drinking occasions, medical diagnosis, lessons for
hobbies, entertainment (games, live streaming of concerts)
etc. On the other hand, despite closures of school, the
penetration rate of online lessons at public schools remains
low due to non- availability of laptops and poor connectivity,
which can be a challenging issue in Japan.
Digital payment
While cash remains the leading payment mode in Japan, the
government has set a target to increase the share of cashless
payment to 40% by 2025, by giving reward points to people
using cashless payment from October 2019. In addition to the
rewards programme, COVID-19 spurred an increase in the
cashless payment share, mainly due to the reduced risk of
infection and increased online shopping. For example, users
of Pay Pay, the QR code payment app, now exceed 30 million,
up from 20 million in October 2019. The number of
payments is 8.6 times higher in Q1 2020, compared to Q1
2019. Digital payment is likely to gain further share in Japan.
COVID-19 forces reliance on digital life
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
27. Self-care solutions gain importance in healthy living
The majority of Japanese consumers are very health conscious with higher life expectancy. Consumers have become more aware of health and
hygiene issues amid COVID-19 by taking precautionary measures such as wearing facial masks, washing hands etc. In the early stages, mask shortages
were evident in Japan. Since then, people have started to make masks themselves. Many manufacturers (non-mask manufacturers) have also started to
make masks, offering more functional masks (e.g. use of swimsuit fabric by Mizuno, AIRism underwear fabric by Uniqlo etc.). Home seclusion has also had
a negative impact on both body and mind. Many consumers are relying on digital self-care solutions, which have gained importance in terms of
preventative health. As part of self-care, consumers have realised the importance of boosting immunity, which has positively impacted demand for
immune-boosting foods such as fermented foods etc.
1.9%
DATA INDICATORS
5.5%
Of survey participants in Japan run or jog
almost every day in 2020
17.9%Of survey participants in Japan do yoga as
stress reduction activity in 2020
COVID-19 IMPACT
• Increased health/hygiene
awareness: People became more
health/hygiene conscious amid COVID-19
• Lack of exercise during home
seclusion: People relied on online home
exercise due to restricted outings
• Growing interest in fermented
food: Fermented food gains more
attention for preventative health benefits
Of survey participants in Japan exercise at the
gym almost every day in 2020
Healthy Living
28. Immune boosting
Boosting immunity is considered important to protect
oneself from infection. It is widely recognised that intestinal
bacteria activate the immune system, so it is important to
maintain good gut microbiome health, which is related to
what we eat. Foods to boost immunity such as mushrooms,
garlic, fermented foods (natto, yoghurt, cheese, miso etc)
have gained attention. In particular, mushrooms, natto and
yoghurt continued to be in short supply and saw increased
sales in Japan amid COVID-19.
Mental wellbeing
With increasing stress levels stemming from anxiety and
depression amid COVID-19, people have tried to overcome
this stress using various methods. Self-care solutions to
relieve stress have gained importance in maintaining mental
health such as digital connection with friends/family and
online lessons (yoga, meditation , stretching etc), and taking
dietary supplements to relieve stress and improve sleep etc.
Digital health
There were increasing numbers of infections found at sports
gyms in the early stages of the pandemic. To avoid infection,
the home has become the health hub, which sees consumers
relying on digital fitness solutions. Hence, online exercise
programmes (fitness, dance, yoga etc) increased in demand
for consumers to maintain their health. For example, the
interactive live streaming fitness service, SOELU, became one
of the largest online fitness services in Japan, with more than
100,000 attendees . The government also eased the
regulation and broadly allows online diagnosis to prevent the
risk of infection at hospitals amid COVID-19.
Preventive health became top of mind amid COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
30. South Korea - Megatrends emerging during COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
MEGATRENDS AND SUBTRENDS IDENTIFIED FOR BUSINESS FINLAND
Shopping
Reinvented
Loner Lifestyles
Connected
Consumers
Healthy Living Ethical Living
• Booming
online
grocery
shopping
• Convenient
dining
• Experiential
shopping
• Popularisation
of single
servings
• Being myself
• Spending time
alone
• “Un-tact”
mental care
• Digital life
• New ways of
working
• Changes in
lifestyles
• Self-
healthcare
• Home
training
• Return to
disposable
products
• Popularisation
of online fairs
• Ethical
consumption
Sub-trend Sub-trend Sub-trend Sub-trend Sub-trend
31. Social distancing and digitalisation have changed South Korean retailing
Digitalisation has changed the way consumers browse and purchase, causing the South Korean retailing industry to experience significant shifts in recent
years. Efforts to constrain the spread of COVID-19 have centred on controlling public gatherings, from encouraging consumers to practice “social
distancing” all the way to non-prioritised businesses being requested to close down for weeks or more. Grocery businesses remained open, as they are
essential, but still suffered from the fact that South Korean consumers were reluctant to visit physical stores due to the virus. Consequently, online
shopping businesses had the opportunity to expand. Online shopping has become the major channel to purchase products across many categories, as
South Korean consumers increasingly appreciate the convenience of e-commerce, along with the quality of the service.
43.7%Of South Korean consumers make orders at
any time from anywhere in 2020
DATA INDICATORS
22.1%Of South Korean consumers think online
shopping is easy and has extensive reach in
2020
27.9%Of South Korean consumers would like to visit
shopping malls, which decreased by 5% from
2019( 32.9%)
COVID-19 IMPACT
• Digitalisation: With high internet and
smartphone penetration, consumers have
a chance to be familiar with online
shopping in this pandemic situation
• Government recommendation: To
prevent the spread of COVID-19, the
government recommends staying at home,
which leads to reduced footfall at offline
shopping malls
• Consumer sentiment: With increased
unemployment, people are more cautious
about their spending
SHOPPING REINVENTED
32. Convenient dining
COVID-19 has contributed to the growth of home
dining, leading to a rapid rise in the use of food
delivery services. Baemin, a food order app company,
stated the cumulative transaction volume of the
company rose by 270% between November 2019 and
March 2020, to two million transactions.
In addition, hotel buffets, such as JW Marriott, Lotte
and Westin Chosun, which did not provide delivery or
lunch-type services previously, have begun to offer a
“to-go” service option, which enables ordered food to
be picked up at the front of the hotel.
Boom in online grocery shopping
Since the outbreak of COVID-19 in the country, sales
for online grocery platforms, such as Coupang and
Market Kurly, have increased by approximately 92.5%
compared to Q1 2019, according to the Ministry of
Trade. Since these companies provide delivery services
from dawn, consumers who make an order by around
22.00-23.00hrs on the previous day will receive their
daily food necessities early in the morning, without
having to visit grocery stores physically.
Korean consumers crave a more convenient and safe life during COVID-19
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
Experiential shopping
South Korean consumers expected product and brand
experiences at physical stores, but due to COVID-19,
this expectation was effectively blocked. However,
thanks to technology, consumers can experience
something similar via virtual reality (VR) or
augmented reality (AR), which shifts the shopping
experience out of a physical location. For example,
according to Lotte Home Shopping recently launched a
‘real fitting’ service that allows users to experience
fashion goods in a virtual condition with a smartphone
application.
33. Due to COVID-19, more South Koreans are leading loner/single lifestyles
In South Korea, the number of people enjoying single lifestyles in their 20s and 40s has increased, which has created a trend to eat and enjoy time alone.
However, following the outbreak of COVID-19, it was essential to self-isolate. In order to reduce the rate of infection, people curtailed unnecessary
appointments and, after spending considerable time at home, started to establish a loner lifestyle. Major South Korean food companies such as Dongwon
and CJ have launched a variety of home meal replacement (HMR) foods to deal with the situation where consumers have to eat all of their meals at
home. Single people spending more time at home has also benefited the mobile games industry, as mobile games can help to relieve stress and boredom.
27.6%Of South Koreans want to spend time by
themselves in 2020
DATA INDICATORS
12.5%Of South Koreans want to spend their time
with partner or spouse in 2020, decreased by
3.5% from 2019 (16%)
19.3%Of South Koreans want to spend time for their
favorite activities in 2020, increased by 0.5%
from 2019 (18.8%)
SCENARIO DRIVERS
LONER LIFESTYLES
• Online socialising: To reduce the
chance of infection, people prefer to
connect with their friends and family
members on online platforms
• More time at home: With social
distancing regulations, people are
spending the majority of their time at
home
• Use of streaming platforms: As the
time spent at home has increased, people
are tending to spend free time streaming
video content
34. People are used to spending time alone - from eating meals to entertainment
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
Being myself
As single consumers have more time to develop their
own identities, they are interested in what makes
themselves happier. At the same time, COVID-19
accelerated people to re-consider how to maintain
relationships in a virtual context. By utilising social
media, South Koreans have made a new culture, which
is activity sharing associated with a “challenge”. As
one of the prominent examples, the “Dalgona coffee
challenge” enjoyed a boom in South Korea and spread
to other countries via social media channels.
Popularisation of single servings
Since the outbreak of COVID-19, the burden on those
who cook at the home has increased, as office workers
and students have to stay at home. Therefore, large
domestic food companies, such as CJ Bibigo and
Dongwon, have provided a variety of food products
offering convenient meals at home, ranging from
family packages to single-person packages.
Source: https://blog.cj.net/2242
Spending time alone
Due to social distancing guidance, the phenomenon of
spending time alone and finding enjoyment in this has
become more prominent. In spring, the number of
gaming users typically declines, as outdoor activities
increase; however, in spring 2020, the number of users
playing mobile games increased by 84% compared to
the spring season 2019, according to Unity
Technologies’s corporate report.
35. Digitalisation is essential for South Korean consumers
In order to limit the spread of COVID-19 in South Korea, the government strongly recommended an “un-tact” environment. Un-tact means avoiding
human contact as much as possible. This not only affects individuals, but also companies. Working from home was previously not common in South
Korea, but many companies have started to use it for all employees, which has created a need for a suitable digital environment. Companies have
introduced cloud services to facilitate the process of working from home, and have also enhanced the video/audio conferencing environment, so
multiple users can enter a virtual room at the same time to hold a meeting. This has led the function of a home to extend beyond being a residence to
being a work environment and a school. This change may well have an impact on how dwellings are designed and furnished in the future.
11%Of South Koreans mentioned they use an app
to track their health or fitness in 2020
DATA INDICATORS
10.1%Of South Koreans take part in online video
gaming almost everyday in 2020
21.9%Of South Koreans survey participants said they
bought something via a social media platform
in 2020
SCENARIO DRIVERS
CONNECTED CONSUMERS
• High penetration rate of digital
devices: According to KBS (Korea
Broadcasting System), South Korea is an IT
powerhouse, and more than 95% of its
citizens have smartphones
• Working from home becomes
new normal: As a result of COVID-19,
working from home became far more
common
• Advent of “hometainment”: The
home is now being used as a space for
work and study, as well as a residence
36. Thanks to the digital environment, a house is more than just a residence
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
Digital life
In the wake of COVID-19, the home is no longer just a
residence. It is now an office, a school, a restaurant and a
place where people can relax. For this reason, interest in
interior products has increased significantly, and such
products (desks, chairs, etc) can now be purchased through
mobile apps. Today's House is a platform that provides a
variety of interior products at affordable prices. Also,
through active social media promotions such as hash-
tagging and operating online showroom accounts, the app
increased its awareness.
Source:
https://www.dailian.co.kr/news/view/893689?sc=Naver
“Un-tact” mental care
With the spread of COVID-19, many people lost their jobs,
leading to mental distress and depression. As a way to
overcome depression, Trost - a non-face-to-face
psychological counselling service - proved very appealing to
them. More than 139,000 South Koreans utilise this app for
their mental health, as the service is readily accessible and
affordable.
Source: https://trost.co.kr/
New ways of working
In South Korea, working from home was not common until
COVID-19 arrived; however, due to the government’s strict
recommendations, companies from large enterprises to small
and medium-sized enterprises began to introduce working
from home. To aid working at home, SK Telecom developed
and provided a platform to make simultaneous calls to 100
people, and also offers a cloud system to allow call centre
employees to work from home.
Source: https://zdnet.co.kr/view/?no=20200302105333
37. South Korean consumers reconsider how to maintain healthier lives from a fundamental standpoint
With COVID-19, consumers became more sensitive about health issues, and this influenced their choice of clothes, food and even how to exercise. The
masks used to protect against micro-dust have become the most basic means to protect oneself and others from viruses. Health supplements which
contain ingredients claimed to improve immunity are increasingly being consumed. People who are anxious about exercising at sports centres, such as
gyms, have devised ways to exercise at home. As a result, the number of users who watch exercise videos or use apps related to home training has
increased, and sales of home training products have also risen significantly. Due to COVID-19, the concept of a healthy lifestyle, which was previously often
limited to personal appearance or eating healthy foods, has expanded to encompass considerations of how to achieve a healthy life in terms of clothes,
food and living conditions.
43.9%
Of South Koreans actively monitor what they
eat in order to manage their weight in 2020
DATA INDICATORS
42.5%Of South Koreans look for healthy ingredients
in food and beverages in 2020
45.1%Of South Koreans take health
supplements/vitamins in 2020
SCENARIO DRIVERS
HEALTHY LIVING
• Habitual use of hygiene products:
To reduce the chance of infection, sanitary
products have become a necessity of daily
life
• Boom in home training: As people
were banned from going out, the number
of people exercising at home increased
• Interest in increasing immunity:
Consumers want to protect themselves
from viruses by strengthening their
immune systems
38. With COVID-19, Koreans began to look for ways to protect themselves
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
Self-healthcare
The COVID-19 outbreak highlighted the need to boost
immunity. After the virus began to spread, sales of health
supplements increased rapidly, as consumers sought to
protect themselves from the virus by boosting their immune
systems. Antlers, one of consumer health products, saw its
sales in April 2020 increase by 135% compared to the same
month in 2019 on e-commerce site, G-market.
Changing lifestyles
Facial masks have become an essential item to minimise
infection, and it is now not possible to board any public
transportation without a facial mask. Consequently, mask-
related products that did not exist before COVID-19 are
continuously being released. Filter products that leave less
make-up on disposable masks and functional masks that
focus on ventilation in summer are currently trending.
Soucre:
https://smartstore.naver.com/hanapick/products/4931270010
Home training
Since one of the COVID-19 “super spreader” cases was linked
to a Zumba class, people now rarely go to sports centres for
yoga, Pilates, gym, CrossFit, etc. One of the alternatives is to
turn to home training videos on YouTube or exercise apps.
According to Garmin Connect app From Jan to Mar 2020,
home education app downloads is increased by 80%
compared to the same period in 2019 in South Korea. In
addition, yoga was the most used workout type.
39. Ethical consumption concepts have changed with COVID-19
As part of the trend towards ethical consumption, South Korean consumers have devised ways to reduce the use of disposable products as much as possible.
For example, some companies gave their employees a personal tumbler each to reduce the usage of disposable items. From the individual customer
perspective, personal tumblers are taken to cafés for takeaway beverages to reduce the usage of disposable cups. Due to COVID-19, the fear of sharing
reusable products has increased, causing people to turn to disposable products again. A new perspective has thus emerged that ethical consumption could
actually, in some cases, be harmful. Another aspect of ethical consumption is supporting farmers who have faced challenges due to their sales channels
being blocked by COVID-19. South Korean consumers are buying local goods using drive-throughs in traditional markets to support these farmers.
12.6%Of South Koreans believe they can make a
positive impact on the environment via their
everyday actions in 2020
DATA INDICATORS
64.6%Of South Koreans try to reduce plastic usage in
2020
15.6%Of South Koreans are worried about climate
change in 2020
SCENARIO DRIVERS
ETHICAL LIVING
• Growing preference for digital events:
Events such as fairs were held online due to
reports of high infection rates in crowded areas
• Care for society: The concept of ethical
living is no longer limited to environmentally-
friendly behaviour; it is more about living
happily together
• Mutual support: As the economy
contracted, consumption behaviour began to
develop that helped the local economy
40. COVID-19 has changed the concept of ethical consumption as well as lifestyles
INTRODUCTION / EXECUTIVE SUMMARY / TREND OVERVIEW
Popularisation of online fair
As COVID-19 continues, physical events that attract
many people have been cancelled due to social
distancing measures. As an alternative, eBay Korea G9
held an online pet fair with an event that provided
discounted prices of pet products from LG Life &
Health. In households that have pets, owners could
buy the products that they needed online, while
listening to new product launches, in the comfort of
their own home.
Source: https://www.etnews.com/20200330000223?m=1
Return to disposable products
Many consumers have sought to use fewer disposable
products in order to be more environmentally
responsible. Similarly, many companies have
recommended their employees to use their own
personal tumblers rather than disposable cups.
However, due to COVID-19, there is a trend to increase
the use of disposable products rather than personal
tumblers, as hygiene is an important factor in
preventing the spread of the virus.
Ethical consumption
COVID-19 caused many farms to struggle as exports of
production were halted. In order to assist farmers,
South Korean consumers are purchasing agricultural
products directly from farms. Despite being able to
shop conveniently on the internet, consumers are
choosing to purchase products from traditional
markets as part of an ethical consumption campaign:
highlighting the effects of individual consumption
behaviour on neighbours, society, and even the
environment, through a pick-up service in order to
help farmers in need.
41. CONTACT DETAILS
Vivek Sharma
Senior Consultant
Tel: +65 6429 0590
vivek.kumar@euromonitor.com
Zoe Zhou
Consulting Manager
Tel: +65 6429 0590
zoe.zhou@Euromonitor.com
Suvi Sundquist
Business Finland
Seoul, South Korea
Tel: +358 50 5577 675
suvi.sundquist@businessfinland.fi
Oleg Degtiariov
Senior Business Development, Consulting
Tel: +370 5 243 1577
oleg.degtiariov@euromonitor.com
Mangirdas Ciocys
Senior Account Manager
Tel: +370 5 243 1577
mangirdas.ciocys@euromonitor.com
Laura Kopilow
Business Finland
Tokyo, Japan
Tel: +81 90 5338 6344
laura.kopilow@businessfinland.fi
Notes de l'éditeur
Source: Digital 2019 by we are social: https://www.digima-japan.com/knowhow/world/15167.php
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicators: Data indicated in the slide are sourced from Euromonitor internal survey.Scenario drivers (High penetration rate of digital devices): Data indicated in the slide is sourced from http://mn.kbs.co.kr/news/view.do?ncd=4135732
Data indicated in the slide are sourced from Euromonitor internal survey.
Data indicated in the slide are sourced from Euromonitor internal survey.