India’s diamond jewellery market to grow to US$ 17 bn by 2031: Says, De Beers at GJEPC InnovNXT, Forty Under 40 Leadership Summit-TBO TEK LIMITED IPO OPENS ON 8 May, 2024 PRICE BAND SET AT Rs. 875 TO 920 PER EQUITY SHARE-आधार हाउसिंग फाइनैंस लिमिटेड का आईपीओ 8-10 मई तक, 3,000 करोड़ जुटाएगी-Airbnb introduces Icons— Bollywood Star Jahnvi Kapoor opens the door to her legendary, never-before-seen family home in Chennai-AADHAR HOUSING FINANCE LIMITED IPO OPENS ON MAY 8, 2024 PRICE BAND SET AT Rs. 300 TO 315 PER EQUITY SHARE-महाराष्ट्र दिवस पर कालबादेवी में ओशो समारोह 'ओशो के अनुज डॉक्टर स्वामी शैलेंद्र सरस्वती' और 'मां अमृत प्रियाजी' की उपस्थिति में ओशो का ध्यान प्रयोग और प्रवचन होगा-Dr L H Hiranandani Hospital Launches Advanced Robotic System for Knee Replacement Surgeries-OSHO Meditation and Discourse to be hosted on 1st May at Sojat Swarna Bhawan, Kalbadevi, Mumbai In the gracious presence of Dr. Swami Shailendra Saraswati (OSHO’S Anuj) and Maa Amrut Priya-Lilavati Kirtilal Mehta Medical Trust Board Has Exposed A Major Financial Fraud Amounting Around Rs. 500 Crores, Making It A Serious Medical Scam-REC Announces Q4FY24 and 12M FY24 Results Net profit grows 33% to Rs 4,079 crore

Asian consumers optimistic about the future regarding both nation’s economy and their personal financial situation improving over the next 12 months

GFK

Philippines most positive on country’s economy improving within one year at 58 per cent, 23 per cent higher than the regional average of 35 per cent. It is also the most upbeat country in relation to the enhancement of their personal economic situation in the upcoming 12 months with 77 per cent being confident, 17 per cent more than the regional average of 60 per cent     

MUMBAI, AUGUST 16, 2022 (GPN): GfK’s APAC Consumer Trend Study 2022 report studied the issues that concerned consumers in Southeast Asia, India and Taiwan. These topics will be discussed at the “GfK Insight Summit 2022: Winning the new consumerism in APAC” to be held virtually on August 18, 2022.

In the post COVID-19 era, understanding the forces that impact consumer attitudes and decisions and its effect on businesses is essential as the forces of supply chain challenges, conflict, climate change and soaring inflation, energy and oil prices loom ahead. Helping consumers pursue their vision of a better life, involving material products such as nice clothes or intangibles like health and leisure would ease their navigation in an uncertain and volatile world.

“A new world has emerged. Consumers across the Asia Pacific are adapting and recovering to a new consumerism order amidst global unrest and heightened economic pressures alongside newly adopted consumer choices and behaviours. And therefore, to better understand how to succeed in a rapidly changing environment, organisations need to pivot their strategies with agility. The key is to be ‘fluid’ in your market approach. During GfK Insight Summit, industry leaders will take a fresh look at winning the new consumerism in the Asia Pacific.” said Karthik Venkatakrishnan, Marketing & Consumer Intelligence, APAC Lead, GfK.

Confidence shifts vary across markets

According to the GfK Mood of the World Study, people reported feeling happiest in India and Indonesia at 29 per cent and 23 per cent respectively, aligning with their upbeat mood in other aspects. Optimism on the future is more prevalent in developing markets, while in developed markets, people tend to be equally divided in their opinions.

Singapore is the second most optimistic nation concerning the country’s economy improving within one year at 38 per cent, followed by Malaysia at 27 per cent, Taiwan at 17 per cent and Thailand at 15 per cent. Regarding the uplifting of their personal economic situation in the upcoming 12 months, Singapore and Malaysia equalised in second place at 58 per cent, followed by Taiwan at 54 per cent and Thailand at 41 per cent.

Inflation and high prices are a major concern for Asian consumers

Inflation and high prices are the primary concern in Singapore and Taiwan at 70 per cent, Malaysia at 56 per cent and Philippines at 52 per cent, the second highest concern in Thailand at 52 per cent, with the top concern being recession and unemployment at 53 per cent.

Asian consumers emphasise family, authenticity and honesty as their key personal values

Protecting the family deemed most important in Malaysia, Philippines and Thailand, while placed in the second and third highest ranks in Singapore and Taiwan respectively. Authenticity is of third most importance in Philippines and Thailand, fourth in Malaysia and fifth in Singapore and Taiwan, while honesty is the second highest ranking in Malaysia, Philippines and Thailand, and the third highest in Singapore and eighth in Taiwan.

GfK. Growth from Knowledge.

For over 85 years, we have earned the trust of our clients around the world by solving critical business questions in their decision-making process around consumers, markets, brands and media. Our reliable data and insights, together with advanced AI capabilities, have revolutionized access to real-time actionable recommendations that drive marketing, sales and organizational effectiveness of our clients and partners. That’s how we promise and deliver “Growth from Knowledge”.Ends

 

 

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

Be the first to comment on "Asian consumers optimistic about the future regarding both nation’s economy and their personal financial situation improving over the next 12 months"

Leave a comment

Your email address will not be published.


*