Malaysia's retail landscape is evolving rapidly. The universe of stores and channels are exploding driven by rapid urbanisation, the rise in connectivity and consumers’ increasing demand for convenience. Add the emergence of online grocery shopping into the mix, and pressure is mounting for FMCG manufacturers and distributors to remain competitive. The key to success is to know where exactly to place your product.
Malaysia’s Generation Z is the generation that grew up with the internet for all of their lives. They make up 26% of Malaysia’s population and have unique characteristics that set them apart from the Millenials and Baby Boomers, particularly in the way they consume content and relate to brands.
In terms of golf’s global appeal, few markets rank higher than South Korea. Insights from Nielsen Sports show that 35% of people in the country are interested in golf, which puts it ahead of markets like the U.S. and Europe as the sport’s most interested population.
What are some of the biggest technological influences that will cause the largest impact to consumers, products, industry and society? Are consumers, retailers and suppliers ready for technology trends that will dominate the way we work, live and play in the next 5 years?
In the first quarter of this year, India (with an index of 134) and Indonesia (117) were bright spots for consumer confidence among growth markets in the Asia-Pacific region, up three and two points, respectively, from the previous quarter.
Nielsen’s first annual Asia Pacific Business Sentiment Survey delves into the inner-most thoughts and concerns of business leaders around the region and reveals how they are preparing to tackle accelerating, complex and challenging change events in the future.
In 1990, 57% of Southeast Asia was in poverty and access to daily necessities one could afford was not to be taken for granted. Today, so much has changed that a new niche at the high end of the affordability spectrum has emerged to fan the aspirations of consumers – premiumization.
While consumer confidence declined in 10 of 14 Asia-Pacific markets, the region still leads all global regions with an index score of 107. Among the four markets that improved from the previous quarter, the Philippines showed the biggest quarterly country-level confidence increase of seven index points, rising to a score of 122—the country’s highest level on record.
Globally, more than six-in-10 respondents (63%) say they like when manufacturers offer new products. But while consumers across the globe are enthusiastic about new products, their purchasing patterns vary widely.
Consumer confidence in Asia-Pacific increased in nine of 14 markets measured by Nielsen in Q1, compared to only three that rose in Q4 2014. Nine markets in the region remained at or above the 100-baseline level of optimism. At 130, India reached its highest level since 2011—up one-point from Q4. Confidence in India has been on the rise for six consecutive quarters.
Starting the year positively, global consumer confidence saw an increase of one point from fourth-quarter 2014, with an index score of 97. After a slight dip at the end of last year, when all regional confidence scores declined, it was a more upbeat start to the year, as confidence increased slightly or remained stable in every region except Latin America.
Female empowerment is growing across Asia as women secure better and more independent incomes, higher education and gender equality. In tandem, women’s spending power has increased exponentially in recent years, which will likely benefit a number of sectors, particularly grocery retailers and FMCG manufacturers.