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Capitalising on latest and future trends in the Asian consumer arena
Capitalising on latest and future trends in the Asian consumer arena
A case study by StarHub Singapore• Regardless of market conditions, consumer centricity has been the key
to growing your customer base. Now due to decisions having to be made faster, organisations must go beyond “what” consumers are doing and what they would do in the future and what their telling us through their buying patterns.
• Effective trend spotting: What’s hot or not and why has your demand changed?
• Identifying the factors that have resulted in your customer base shifting and
• readjusting accordingly• Anticipating future buying patterns, forecasting the market condition a
year or two from now and ascertaining the future demand for products• Integrating trends into the design and marketing of your products• Gaining foothold as a primary player of the specific trend market and
building prominent brand reputation
StarHub Overview
Singapore's Top Ten Favourite Brands 2009
Source: 2009 survey from Superbrands and The Nielsen Company
1. Colgate2. Google3. StarHub4. NTUC Fairprice5. Sony6. SingTel7. Yahoo8. Straits Times9. 7Eleven10. Nippon Paint
The Customer Satisfaction Index of Singapore (CSISG)
Company • The Ritz-Carlton • Singapore Airlines • Republic Polytechnic • Raffles Hospital • Tan Chong Motor • HSBC • StarHub Mobile • Starbucks
Sector• THAS• Transportation • Education• Healthcare• Retail• Finance • Info-Comms• F&B
Top Performing Companies in each Sector
Awards 2009
• StarHub - the Best Broadband Carrier at 2009 Telecom Asia Awards
• StarHub’s CEO Mr Terry Clontz was voted the “Telecom CEO of the Year” at 2009 Telecom Asia Awards and Chief Executive Officer of the Year” at the Singapore Corporate Awards 2009
StarHubQuadruple Play
StarHub Overview
Hubbing Example: Quadruple Play
Hubbing Example: Bundling Home Solutions
Hubbing Example: Free Fixed Line for Cable Subs
Hubbing Example: Bundling Content with Mobile
Real time News coverage and thrilling live football action on Blackberry Storm
Hubbing Example: 3 Screens Strategy
UEFA EURO 2008 Season Pass
• 'LIVE' telecast in High Definition
and on 4 dedicated TV channels
• 'LIVE' on your mobile phone for free
• 'LIVE' on your computer for free
Trends Watch
What is a Trend?• “A statistically
significant change in performance measure data which is unlikely to be due to random variation in the process.”
Form factor desired
1825
8
34
7
15
15
14
15
3
4
5
3
8
2
3
4
8
10
2233
1217 14
Global Dev Asia Singapore
Nopreference
Touchscreen
Qwerty
Swivel flip
Side slider
Slider
Candy bar orstraight
Flip or clam
Source: TNS GTI 2009 ReportSource: TNS GTI
What’s Hot What’s Not?
Form factor desired
What is a Trend?• “A manifestation of something that has ‘unlocked’ or
newly serviced an existing consumer need, desire, want, value
Key Trends
Instant Digital Gratification
Economic CushioningEconomic
Cushioning
Digital Identity
Two-way Hubbing
Mass Digitalizatio
n
Anytime, anywhere,
anyhow
Technology-in-a-box
Try-sumerism
Keep Learning
Keep Current
Service-Impatient
Bite-size Culture
Keep it simple
Experiential
FMCGisation
Digital ties the bind
ConsumerSupremacy
I am the media
No frills,Got thrills
Reserve but still Deserve
VirtualRealism
VirtualSuperstar
DigitalExpression
Technology is Middle-class Status Symbol
DigitalLaggards
EmpowermentFun with
Technology
I like I buy
Consumer Empathy
Elderly in tandem
I pay what I need
Technology is my toy
FemaleEmpowerment
Constant Upgrading
I pay for the basics
Herdsyndrome
Share my life
User generated
content
Instant gratification
Simplification
Pat-on- the back treats
Self advertising
ConsumerEmpowerment
Customiz-ation
Virtual access
anytime, anywhere,
anyhow
Plug and Use
Trial & Experience
Virtual World = Reality
Renaissance of Self
Expression
CommunityAdvocacyHear my
voice
Popularize fun technology
Small indulgences
Presence in virtual
world
Technology as Social Currency
HeartwareHub
Service at your disposal
Rekindled kinship
Lower entryprice
CoachingLatest for
OldestFemale
Appreciation
Small priceCool image
Bite Size Purchase
Flexi plans
Online Oxygen
Consumer Supremacy
Expect voices to be heard by brands and acknowledgedConsumers looking for empathy from brands with their daily lives
They need to at least acknowledge that they have read my feedback, I
can always choose any provider you know?
• Hear me (please respond) and serve me!
Listen and respond lah!
I am the Media (I am a Hub!)
When I upload something interesting, my colleagues will start asking me for advice e.g. where the place is and how to go?
When I upload something interesting, my colleagues will start asking me for advice e.g. where the place is and how to go?
• I create, I distribute, I opinion-lead, I verify
I take candid video clips with my mobile phone and post it… funny, ugly, cute scenes in Singapore
No need for newspaper, we create our own news!
I take candid video clips with my mobile phone and post it… funny, ugly, cute scenes in Singapore
No need for newspaper, we create our own news!
What is a Trend?• “A manifestation of something that has ‘unlocked’ or
newly serviced an existing consumer need, desire, want, value Marketing to the Swarm (Social) as Well as The Herd (Mass)
• The Herd: the herd is the more traditional consumer base. – You can show them a compelling 30-second spot and they may passively choose to purchase or engage with your product.
The Swarm: The swarm, on the other hand is active. You can’t lead the swarm. The swarm makes determinations on its own. The swarm is a batch of regular folks that are using social media to advocate for or agitate against brands, products or organizations.
Source: The Nature of Marketing by Chuck Brymer DDB
What is a Trend?• “A manifestation of something that has ‘unlocked’ or
newly serviced an existing consumer need, desire, want, value
Hear my Voice
Hear my Voice
Key Trends
Instant Digital Gratification
Economic CushioningEconomic
Cushioning
Digital Identity
Two-way Hubbing
Mass Digitalizatio
n
Anytime, anywhere,
anyhow
Technology-in-a-box
Try-sumerism
Keep Learning
Keep Current
Service-Impatient
Bite-size Culture
Keep it simple
Experiential
FMCGisation
Digital ties the bind
ConsumerSupremacy
I am the media
No frills,Got thrills
Reserve but still Deserve
VirtualRealism
VirtualSuperstar
DigitalExpression
Technology is Middle-class Status Symbol
DigitalLaggards
EmpowermentFun with
Technology
I like I buy
Consumer Empathy
Elderly in tandem
I pay what I need
Technology is my toy
FemaleEmpowerment
Constant Upgrading
I pay for the basics
Herdsyndrome
Share my life
User generated
content
Instant gratification
Simplification
Pat-on- the back treats
Self advertising
ConsumerEmpowerment
Customiz-ation
Virtual access
anytime, anywhere,
anyhow
Plug and Use
Trial & Experience
Virtual World = Reality
Renaissance of Self
Expression
CommunityAdvocacyHear my
voice
Popularize fun technology
Small indulgences
Presence in virtual
world
Technology as Social Currency
HeartwareHub
Service at your disposal
Rekindled kinship
Lower entryprice
CoachingLatest for
OldestFemale
Appreciation
Small priceCool image
Bite Size Purchase
Flexi plans
Online Oxygen
Customer-MadeCo-Creation
Taping the Global Brain
Customer-MadeCo-Creation
Taping the Global Brain
What is a Trend?
• Virtually every trend has its anti-trend.
What is a Trend?
• Beauty is in the eye of the beholder
What is a Trend?
What is a Trend?
• Not all consumer trends will affect or be embraced by ALL consumers.
Looking at Trends to cross the Chasm
• Transumerism• Transumers are consumers
that are driven by experiences instead of the 'fixed', who increasingly live a transient lifestyle, freeing themselves from the bothersome aspects of permanent ownership.
Source: Trends Report
Looking at Trends envisioned by … iN2015, NGN etc• Ultimately it must relate back to
an existing consumer need, desire, want, value
FORC
E
FORC
E
SECURIT
Y
SECURIT
Y SUPERIORITY
SUPERIORITY
HARMONY
HARMONY
FUNFUN
CA
RE
CA
RE
CONTROLCONTROL
STA
TU
SSTA
TU
S
How do people act differently when they
see dark clouds on their financial horizon?
How will this recession affect consumer behavior?
http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html
Anxiety
Seeing otherscut back spending
Seeing others getting retrenched;Worry about losing jobs
Energy & Food prices rising
So expect even those who aren't really feeling a lot of pain to act
as if they are
Property prices falling, reducing individual’s net worth
Stocks - sitting on book losses
http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html
How will this recession affect consumer behavior?
Anxiety Frugality & PragmatismFeeling
Deprived
Escapism
EntertainmentAlternatives
Affordable Pleasures
Seek Solace
Accessible Escapes
Research more, trade down, buy less,
postpone, negotiate harder
http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html
People who are unaffected by the
downturn don't want to rub it in other people's faces
People who are struggling don't want it to show. They will make trade-offs, so they can afford to keep up appearances
Civil servant rapped over cooking holiday Channel NewsAsia - Tuesday, January 20SINGAPORE — A senior Singaporean civil servant has been reprimanded for publicising his family’s vacation at a top French cooking school when his country is suffering from a recession, a minister said Monday.
"It struck a discordant note during the current difficult economic circumstances when it is especially important to show solidarity and empathy for Singaporeans who are facing uncertainties and hardship," Defence Minister Teo Chee Hean said in parliament.
May cut back on non-conspicuous
spending?
May cut back on conspicuous luxury
spending?
http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html
Economic Cushioning and Cocooning
Source: Synovate Censydiam
• When economic hard times loom we tend to retreat to our village.
• Basically, here the consumers retreat and create a cocoon
• We should focus on those tech-related products that allow users to "cocoon" to save money.
In tough times, focus on family values
Source: Marketing Your Way Through A Recession, Harvard Business School, Mar 08
• Look for cozy home family scenes in advertising to replace images of extreme sports, adventure, and rugged individualism.
• Spending on home furnishings and home entertainment will hold up well, as uncertainty prompts us to stay at home but also stay connected with family and friends.
“Freedom” relevant for Economic Cushioning?
Economic Cushioning - Happy Cocooning
39
Economic Crisis Response Clusters
Pessimists
“I turn off the tele whenever there are more reports about the crisis… There’s no point worrying about it because there is
nothing I can do about it”. For now, I just go on with my life as usual and try to
stay in control of my emotion.
These people are slightly older and
there is currently no changes in their
behavior.
Source: Synovate 2009Consumer Behaviour in Times of Crisis
Protectionists
“It is the little people like us
who will suffer the most…”
These are heartlanders and their changes in
Behaviour: Saving more money, cutting down on expenses
in all areas.
Source: Synovate 2009Consumer Behaviour in Times of Crisis
Positive Lifestyle Changers
“The crisis will help me change my life style for
the better.”• Being a little less materialistic will not make me less happy. We should consume
less/different to save the planet. I am going to
save and do good at the same time e.g. recycle furniture, DIY, Clean
energy
These are younger generation.
Source: Synovate 2009Consumer Behaviour in Times of Crisis
Opportunists
I am keeping my eyes open
for smart deals.”
These are younger , richer, more educated generation
and their changes in behaviour•:
Alert for promotions: especially in luxury items .
Source: Synovate 2009Consumer Behaviour in Times of Crisis
Thank You
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