In-depth consumer trends Which direction should businesses go in 2021? • Thumbsup

A 2020 Riding the Digital Wave study found that consumer behavior went from offline to online faster than expected.

By many factors In keeping with consumers spending higher online across multiple categories, Facebook’s report revealed 10 insights:

1. The changes that will take place in the next five years occur within a single year.

By the end of 2020, digital consumers in Southeast Asia reached 310 million, the number previously anticipated to reach by 2025.

2. Every shop goes online Not even the grocery store

Besides spending more online Consumers can buy from more than one category. In particular, groceries that went online increased by 40%.

3. Online retail in Southeast Asia is growing faster than India, China and the United States.

From 2018 to 2020, the online retail market in Southeast Asia surpassed China, India and the United States. In the same period

4. Online grocery stores have grown almost 3 times.

Products in all categories such as electronics, beauty, furniture, home accessories grow at least 1.4 times in all categories. In particular, grocery stores grew 2.7 times.

5. Most consumers discover online stores on social media.

62% of consumers discover new brands and products on social media. Most of which are found from short videos, text and long videos respectively.

6.The consumer is less loyal If you find the right brand

A 2020 survey found that 54% of consumers are more open than before. Switching to more new brands means that brands have to change their strategies for engaging customers.

7. Reliability and value. Causing customers to come back and buy as many as possible

Reliability and value are the top two reasons why the most repeat customers 42% say they are affordable, 32% say products are of good quality.

8. Secondary city customers have more potential.

The study found that customers in primary and secondary cities had a more similar amount of spending. It is a brand opportunity to reach new consumers.

9. Positive reviews increase sales of products / services more than 2 times.

Positive reviews improve credibility and gain new customers. As opposed to a negative review, for example, the product does not match the cover Poor product quality

10. Good financial technology becomes the key to not throwing away a shopping cart.

One of the factors that make customers leave their shopping carts the most is: Difficult payment system

The origin

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