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.
Beyond in-store clinics and the traditional health care aisle of the store, a handful of departments should be top of mind for drug store retailers where more multicultural dollars are spent in comparison to non-Hispanic whites.
By mid-century, the U.S. will be a “majority minority” nation. By 2060, fewer than five in 10 will be white non-Hispanic. This level of demographic change represents a remarkable challenge for retail real estate investors, developers, advisers and retailers. It’s also a remarkable opportunity.
As the fastest growing multicultural segment in the U.S. with an outsized impact on the consumer marketplace, Asian Americans have emerged as a powerful economic force. The group’s buying behaviors and viewing patterns, however, are different and unique from the total population.
With a current buying power of $1 trillion that is forecasted to reach $1.3 trillion dollars by the year 2017, the importance of connecting with African-American consumers is more important than ever. Importantly, these consumers are distinct from other consumer groups, and understanding them is critical to making lasting connections.
The path to purchase for innovation in Asia is a long one, as consumers are typically wary of new products and services. Given the rise in innovation in Asia and existing consumer tendencies regarding new products, Nielsen has identified five key ways to succeed with innovation in Asia.