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HONG KONG SAR – Media OutReach<\/a> – 13 July 2021 -
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The report on the Millennial Motivations and Buying Behaviours Online across Southeast
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“This research captures a
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This regional research
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Key findings include:<\/p>\n
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“Across all the local market research, what
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“Recommerce has become
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For full access to the local market reports
HONG KONG SAR – Media OutReach – 13 July 2021 -
According to a new report published by Carousell Media Group (CMG) and IAB
Southeast Asia and India (IAB SEA+India), income levels and purchasing patterns
in Hong Kong signalled towards a growing aspirational consumer class. 64% of
Hong Kongers noted that their household income was …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/16233"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=16233"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/16233\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=16233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=16233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=16233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAccording to a new report published by Carousell Media Group (CMG)<\/a> and IAB
\nSoutheast Asia and India (IAB SEA+India), income levels and purchasing patterns
\nin Hong Kong signalled towards a growing aspirational consumer class. 64% of
\nHong Kongers noted that their household income was in the top 50% income tier.\u00a0 <\/b><\/p>\n
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\nAsia and Hong Kong,<\/b> conducted across five Carousell Group’s markets -
\nSingapore, Hong Kong, Philippines, Malaysia (for both Carousell and Mudah.my
\nplatforms) and Vietnam (Cho Tot) with over 3,500 of its respondents, also
\nuncovered that the global trend of recommerce – or the buying and selling of
\npre-owned items – is accelerating in this part of the world. <\/p>\n
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\nhighly engaged millennial audience who are in the browsing and buying mindset,
\nmotivated by a great deal, variety of options, and by their belief that
\npurchasing pre-owned is more sustainable. In addition, when we took a closer
\nlook at the Luxury Category, we found that half of all respondents bought
\nluxury items in the past 12 months. Overall, Singapore, Carousell Malaysia and
\nHong Kong are above the purchasing average; despite being in the midst of a global economic slowdown<\/a>.
\nThis signals the rise of a growing aspirational consumer class, dominated
\nprimarily by under 35s.” JJ Eastwood, Managing Director, CMG shared. <\/p>\n
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\nestablishes the audience profile in each market then explores income and
\nspending habits, how the audience spends their time online, and offline, motivations
\nto use buy-and-sell marketplaces, as well as attitudes towards sustainability
\nin relation to their purchasing habits. <\/p>\n
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\nfelt that purchasing pre-owned items is more sustainable<\/li>\n
\nbought a luxury item in the past 12 months, with over 50% buying Bags &
\nWallets from brands like Gucci, etc. Luxury accessories and\u00a0 belts are significantly more popular in
\nMillennials vs over 35s. <\/li>\n
\nsave to buy luxury items vs over 35s. We see that most of the Millennial
\nhousehold income goes towards savings (27%), which is higher than the regional
\naverage. However, over 35s are significantly more motivated by promotions and
\nsales when it comes to purchasing a luxury item. <\/li>\n
\nmore about social issues such as sustainability, social responsibility and
\nclimate change in comparison to over 35s. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/li>\n
\nthose under 35 and over 35 are equally motivated to use the platform as the
\nenvironmental impact is lesser when purchasing a pre-owned item. <\/li>\n
\ntop category in Electronic Items, followed by Computer Accessories<\/i> and Home
\n& Kitchen Appliances<\/i>; these are all categories that facilitate
\nentertainment, communication, virtual working and cooking as respondents spent
\nmore time at home due to COVID-19. <\/li>\n
\ncompetitor landscape against similar Western platforms such as Amazon<\/li>\n<\/ul>\n
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\nwas consistently obvious is that we are witnessing the explosive growth of
\nrecommerce as it feeds two key needs of consumers today; the demand for
\nsustainability and the hunt for a good deal. This
\njuncture of ethics and eCommerce creates fertile ground for retail media because of the
\ninterplay among customer data, closed-loop reporting, and real-world results
\nthat generate more and better data<\/a>.” Miranda Dimopoulos, Regional
\nCEO, IAB SEA+India said.<\/p>\n
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\nsynonymous with sustainability and this research demonstrates how important
\nthis has become to young people across the region. As we see users spending
\nmore on high-value products like luxury, and cars, we also see them being
\nincreasingly conscious of where they spend their money. This presents a unique
\nopportunity for brands to win the hearts and minds of this core consumer
\nsegment around issues they care deeply about,” said JJ Eastwood.\u00a0 <\/p>\n
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\nand to discuss retail media opportunities with Carousell Media Group in more
\ndetail, email us at mediagroup@thecarousell.com<\/a>.\u00a0 Any research questions or feedback can be
\nsent to hello@iabseaindia.com<\/a>.<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"