Dentsu Aegis Network, in collaboration with Econsultancy, today launched Here Comes the Centennial: Southeast Asia’s New Generation of Shoppers.
Here Comes the Centennial is a white paper investigating the online buying behaviour of centennials – consumers of the future – in the region.
Launched on the sidelines of FUTR Asia 2018 Summit, the study finds that, despite the surge in online shopping, cash is still king for centennials in the digital age, and shopping on social media platforms is the new norm.
Despite being digital natives, the concept of a cashless society has yet to fully take off for centennials in six countries surveyed, as 56 per cent of survey respondents still prefer paying cash on delivery for their purchases.
The next generation of online shoppers also enjoy having a variety of payment methods, as 43 per cent of centennials will readily abandon their purchases because their preferred payment option is not available.
Having grown up in the smartphone era, centennials are also using social media platforms differently compared to previous generations in their buying journey.
Social media applications (47 per cent) such as Facebook and Instagram are the second most popular place for centennials to shop in.
Close to half of the survey respondents (49 per cent) also turn to social media when they are researching for more information on their future purchases, rather than asking friends (45 per cent) and family (27 per cent).
Dentsu Aegis Network Asia Pacific CEO Nick Waters said: “All eyes are on Southeast Asia as the world’s next consumer powerhouse, with its young population and increasing purchasing power.
“Close to 280 million centennials – tomorrow’s consumers – call this region home.
“Enabled more than ever before by technology and data, we are seeing incredible potential for growth in the region and our latest research ‘Here Comes the Centennial: Southeast Asia’s New Generation of Shoppers’, helps us understand what is important for these consumers of the future and how businesses can adapt and position effectively for Southeast Asia’s future retail landscape.”
Brand name and image is no longer a priority of centennials, making the end-to-end brand experience more important than ever for retailers.
Only 11 per cent cite having a prestigious or famous brand as one of their top three attributes when choosing where to shop.
This means retailers need to work harder to get their brand experience perfect in order to capture the attention of tomorrow’s consumers.
Who are the Centennials & why are they important?
Centennials – also known as Generation Z – are those who are born between now and 1995.
Accounting for about 277 million of Southeast Asia’s population, 50 per cent of centennials spend more than USD30 a month on online shopping, while 9 per cent spend over USD100 monthly.
The size of this new generation alone makes them attractive for retailers, but the behaviours of this group make them lucrative in terms of its online shopping and ecommerce potential.
This new generation will also soon be one of the world’s most demanding consumers who have high standards and expectations of the online shopping experience.
Technology should be an integral part of this experience, as 82 per cent of centennials are excited about futuristic shopping technology such as virtual reality.
Personalisation is key as well, as 76 per cent of respondents are happy to share data with websites, if it makes more relevant recommendations.
Econsultancy Asia Pacific managing director Jefrey Gomez said: “Centennials are coming of age in an era when high speed internet is always available, and they expect technology and brand experiences that are fast, responsive, and seamless.
“The survey showed that 86 per cent of centennials will not use an app or website that takes too long to load and 82 per cent will not use an app or website that is difficult to navigate.
“This means that retailers can therefore no longer just provide well-designed stores or rely solely on brand campaigns to drive sales. Instead they need to focus on the utility of their online offering to make the purchasing journey easy to complete.”
About Here Comes the Centennial: Southeast Asia’s New Generation of Shoppers
The white paper was developed by leading global research agency Econsultancy, in collaboration with Dentsu Aegis Network and surveyed over 3,000 online shoppers aged 16 to 23 years old in Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. The full report is available here.
Woolworths has increased its stake in Quantium to take a majority stake in the data and analytics business. Announcing the move yesterday, Woolies said it had increased its shareholding from 47 per cent to 75 per cent with the purchase price of $233 million. Quantium’s founders and team members will retain the remaining 25 per […]
Less than 24 hours after defending a video that compares sex to milkshakes and puts a woman as the perpetrator to teach high schoolers about consent, the federal government has dumped it. The video formed part of ‘Respect Matters’, a new government campaign that aims to teach children about sexual consent through education resources for […]
The Big Ideas Store, Powered by Nine, will return for its fourth year on Tuesday 11th May – and this year, they’re taking attendees sky high! Taking over the panoramic 22nd floor of Nine’s brand new HQ at 1 Denison St North Sydney, The Big Ideas Store will offer two weeks of big thinkers, big ideas, and dig deep into the big issues challenging marketers right now. More than 8,000 people […]
To demonstrate the power of your voice with Alexa – Pompeii is the latest film in the “A voice is all you need” campaign via Droga5 London. The work shows how Alexa enabled devices can help you do almost anything with your voice and continues to playfully bring this to life by colliding two contrasting […]
A resolution was passed at Coca-Cola’s annual shareholder meeting, held online, calling on the brand to increase their transparency about the role of their products in fuelling health issues among people of colour. Coke, which is headquartered in Atlanta, Georgia, was also criticised for drawing back its initial support for voting rights. Nsé Ufot, Executive […]
Iconic fuel brand Ampol has returned to the nation’s roadside launching ‘Far and Wide’ a wide scale, integrated campaign that celebrates the distance Australians travel, great and small, day-in and day-out. Created by Saatchi & Saatchi Australia and iProspect, the campaign idea centres on Australia’s sheer vastness and how it’s part of our country’s identity […]
Klarna has announced the launch of CO2 insights for all shopping purchases as part of its one per cent pledge, involving the donation of $10 million to initiatives supporting planet health. The new feature aims to democratise access to unbiased climate impact information for consumers at no cost or judgement, as a first step to […]
Nine News came out on top last night with 1,034,000 viewers according to OzTAM’s metro data, as both Lego Masters and Masterchef saw reductions in viewership after their premieres. Lego Masters had a decrease of 56,000 after Monday’s premiere while Masterchef’s audience dropped by 88,000. The shows received 782,000 and 582,000 viewers respectively. Second in the ratings […]
In his latest guest post, B&T regular Robert Strohfeldt skewers marketers’ latest buzzword – purpose… I used to flick through the various newspapers cartoons each day – reckon it would be tough trying to create a cartoon each day, based on a major news story, that is both funny and insightful. Since the PC mob […]
MILO Cereal has launched its first major marketing campaign for its newly launched Protein cereal, via independent creative communications agency Connecting Plots. Building on MILO’s brand message of fuelling active kids, the new campaign platform, ‘Beast Mode – Activated’, evolves the master brand’s focus on team sports. This aims to celebrate how MILO Protein helps […]
Flight Centre has unveiled a new look and a global brand campaign that poses a tongue-in-cheek challenge to Aussie travellers. The launch also marks the brand’s first global campaign across Australia, New Zealand, the UK, Canada and South Africa, highlighting Flight Centre’s collective travel expertise. Created by Flight Centre Australia’s in-house creative team, ‘There’s Nowhere […]