A short and sweet roundup this month. Here’s the best Asia Pacific stats we’ve seen in June 2018.
Topics include basket abandonment, adspend in Ramadan, and trust in media.
Online shoppers in Asia-Pacific most likely to abandon their baskets
SAP’s Consumer Propensity Study was widely covered in trade press in June 2018. The standout finding was that 52% of APAC online shoppers said they would abandon their baskets sometimes or all the time. This compares to 46% in North America and 43% in Europe.
The survey of more than 20,000 online consumers worldwide, included Australia, China, Hong Kong, India, Japan, Korea, Singapore and Thailand.
APAC online shoppers were also more likely to use their basket as a way of comparing prices (46%) than average (39%). 45% also said they would abandon when shipping costs are unexpectedly high.
Bangladesh increases digital spend 1000% over three years
That’s a headline courtesy of Campaign Asia, which reports that share of marketing budget reserved for digital, social and search has gone from 1% to 10%.
Rabeth Khan, CEO of MediaAxis, an affiliate of Carat in Bangladesh highlights that 40% of the Bangladesh population of 166 million are below the age of 30. 70% of visitors to Facebook, Google, Yahoo and YouTube are in this age bracket, explaining the rise in importance of digital advertising tactics.
China powering worldwide luxury goods growth
Bain & Company’s spring luxury update predicts this market will be 6-8% higher this year (reaching €276-281 billion).
Why? Well, a large part due to China. Bains says “Mainland China is expected to account for the lion’s share of growth in 2018. We forecast this market to grow by 20-22 percent (at constant exchange rates). Brands are learning how to cater to local consumers, often young and heavily influenced by social media.”
Growth in Japan is predicted at the global average rate, South Korea will enjoy 9-11% growth.
Asia Pacific region has some of highest- and lowest-trust in media
The Edelman Trust Barometer survey of 33,000 people across 28 international markets shows that public trust in media has dropped significantly. The media is more distrusted that trusted in 22 countries, and is the least trusted industry when compared with government, business and NGOs.
Asia Pacific is home to the only trusting consumers (scored over 60 on Trust Index), led by China, Indonesia, India and UAE. China leads the way, with 74% of the public having trust in the media. This contrasts with the USA at 43%.
Conversely, Japan and Australia are among the most ‘distrusting’ countries (an Index score of less than 50). Year-on-year, China, South Korea and UAE saw the biggest shifts in their Trust Index scores, all upwards.
Interstingly, the Trust Barometer showed an equal number of countries seeing extreme gains and losses in trust. This polarisation is most evident in Asia Pacific, Middle East and Africa.
Singaporeans want to work for tech brands
YouGov’s 2018 Workforce rankings reveals which brands that Singaporeans want to work for. Singapore Airlines is top, but is followed by five big international tech brands.
The top 10 is as follows:
- Singapore Airlines
- Channel News Asia
Samsung is the most improved brand, followed by Lazada.
Ramadan drives adspend in Indonesia
Advertising spend in Indonesia has risen during Ramadan, compared to last year in 2017. Nielsen Advertising Information Services point to a 7% lift in adpsend this year.
This is partly explained by increased TV viewing, with more people watching, and for longer (an extra 26mins, now averaging 5 hours 19 minutes).
Millennial milestones have shifted
Warc reports on a study by BuzzFeed and Publicis research which suggests “millennials aren’t hitting traditional life milestones at the usual ages, and this means marketers need to rethink the concept of life-stage marketing”.
74% of 18-to-24-year-olds apparently define themselves as ‘kidults’, as do a further 64% of people aged 25 to 34.
Edwin Wong, VP of research and insights at BuzzFeed is quoted saying “This notion of growing up is a mess. We need to really think about how content is the key identifier to group people together.”