Asian consumers showing interest in niche brands, second-hand products: Bluebell study
Bluebell Group’s latest “Asia Lifestyle Consumer Profile” report revealed on Wednesday some of the most important consumer trends in the Asian market in 2022.
According to the report, which covers 2,100 premium lifestyle consumers across six markets — mainland China, Japan, South Korea, Hong Kong, Taiwan and Southeast Asia (Singapore and Malaysia) — consumers are increasingly showing interest in niche brands. The biggest year-on-year increases from 2021 in consumer interest are found in China, up 34 percent, Taiwan, up 31 percent, and Japan up 31 percent.
Second-hand products also registered a year-on-year increase in consumer openness across all markets, led by the largest increase since last year in interest from Japan up 22 percent and Taiwan, up 26 percent.
Meanwhile, demand for brand experiences including events, tech, entertainment, and gaming continues to grow, with the highest year-on-year increases in consumer interest in Japan, up 27 percent and Hong Kong, up 8 percent.
The report, equally recorded interest in home entertainment and home spa, in Japan, up by 7 percent, while that number dipped in South Korea and South-East Asia, down 11 and 8 percent respectively. Finally, interest in products associated with healthy / active lifestyle was down overall, with the biggest year-on-year decreases in interest in South Korea and Taiwan.
Social media remains the most effective channel for brands to engage and inspire consumers to purchase their products, followed by official websites, and recommendations by friends or family.
Still, South Korean consumers are the most likely to feel influenced by social media and online blogs and reviews, 60 percent and 34 percent, respectively. On the other hand, 26 percent of consumers in Southeast Asia are the most likely to feel influenced by the in-store environment, while magazines and newspapers are the most popular channels for engagement among Hong Kong consumers.
“Last year we launched the first edition of the Asia Lifestyle Consumer Profile to understand the differences and commonalities in consumer outlooks across Asia," said Bluebell group president and CEO, Ashley Micklewright.
“With this second volume, keeping in mind the different post- Covid policies in each market, we explore the evolution of these trends and of the main consumer personas in Asia, and dive deeper into some of the biggest opportunities for lifestyle retail, from Instagram preferences to the growing appetite for niche brands, second-hand products and eco-conscious desires.”
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