While ASEAN has been enjoying economic recognition in recent years, many businesses approach the region as a single entity and surprisingly, little is known about the many cities and regions that make up the archipelago.
The diversity of its 625 million people represents a multitude of ethnicities, languages and religions spread across 10 coalition nations - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Such a complex landscape calls for a granular approach to understanding market opportunities in ASEAN. Moving beyond national averages to understand regional differences is crucial. Focus should be placed on establishing granular strategies targeting specific customer segments and regions. In some cases, it may make more sense to prioritize middleweight regions above countries.
These and other insights are highlighted in a report by Nielsen/AlphaBeta, Rethinking ASEAN, which dispels common myths about the consumer and marketplace dynamics within the region to reveal the real ASEAN consumer landscape, and forecasts the hotspots for growth out to 2030.
Check out our infographic for deeper insights on the real ASEAN consumer landscape.