Three key trends in Indonesia, Malaysia, the Philippines and Singapore to guide businesses in their quest for customer experience.
Tetra Pak recently released key findings and insights from its annual Trendipedia 2023 report, which monitors changes in consumer behavior, identifying and analyzing interesting consumer trends and opportunities for businesses in the food and beverage industry to take advantage of.
In post-pandemic times, many have seen macro-level changes resulting in supply chain disruptions, pricing increases from inflation, and labor shortages that have caused businesses to scale back services. This has caused consumers to rethink and change their ways.
“These days, consumers are setting new priorities and standards regarding where and when they use their money impacting their spending habits. As a result, companies need to be more creative in attracting consumers to choose their products today,” said Billie Ing, Global Head of Trends and Foresight at Ipsos Strategy3.
Report Highlights
According to the latest report, the main trends in Malaysia, Singapore, the Philippines, and Indonesia are ‘Flexi-shopping’, ‘In Control’, and ‘Eatertainment’.
Flexi-shopping – This trend refers to consumers that are living with a flexible mindset, cutting back where needed but treating themselves occasionally, especially where there are perceived additional benefits around health or sustainability. Despite rising inflation, Southeast Asian consumers say that health benefits and natural ingredients are more important factors than price, in determining if the food or beverage is of good value.
For more details, check out this infographic.
In control – This trend refers to how consumers are using the way they eat and drink to bring a feeling of control to their lives. The choice of whether to indulge or moderate their consumption can help people take their physical health into their own hands. In recent times, consumers have been embracing plant-based options in their diet to support healthy living, and this trend shows no sign of slowing down.
For more details, check out this infographic.
Eatertainment – While connecting with like-minded people, some are looking to be entertained as they dare to try new flavors, recipes, and trends from cyberspace. The food community is filled with Gen Zs, gamified and creative consumers, empowered by social media. In Singapore, 54% of millennials and 53% of gen Z experienced virtual gaming and played immersive open-world video games. To reach new segments of consumers, brands should consider exploring online and entertainment platforms that are growing in popularity.
For more details, check out this infographic.
Other major trends identified under the year’s five themes include ‘Life Hacks’, ‘Replenish and Repair’, ‘Climatarianism’, ‘Green Clarity’, ‘Un-masking Identities’, ‘Evolving Spaces’.
