By Lesley Stevenson
When launching products in the Asian market, perhaps the most important thing to keep in mind is to think locally, because there is no singel Asian consumer. Still, there are of course some common aspects about the Asian consumer to keep in mind, which can help you to get better targeted innovations faster to market.
The largest audience are young adults who are tech-savvy and who also have a strong sense of what constitutes value for money. They have grown up in a connected world and are receptive to Western ideas and aspire to a better life.
Asian consumers are increasingly demanding and expecting better choices. They have a strong appetite for innovation and are prepared to pay a premium for innovative new products. New product trials occur via recommendations from family, friends and the internet. It is also driven by greater affordability, convenience and how well the product is fitting in with their family lifestyles.
Asian consumers have a strong affinity for brands – particularly those brands that are focused on new product development and aligned with consumer needs.
There is an increasing focus on sustainability across the Asia-Pacific region. The importance of caring for the environment is increasing which is driving the demand for sustainable products.
There is growing awareness of the need for healthier food options among Asian consumers. This leads them to seek out products that support a healthy lifestyle made with fresh and natural ingredients. In Asia now, “health is the new wealth”.
HMT’s newest team member Dr Lesley Stevenson is head of our Singapore hub and brings a wealth of experience from the Asia-Pacific region to HMT.
She has worked for industry leaders such as GSK Nutrition, Fonterra and most recently with Abbott Nutrition in the Asia-Pacific region.