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Tuesday, October 3, 2023

Product uniqueness and risk free are the most important themes influencing consumer buying behavior in APAC, says GlobalData

Companies are being watchful of various trends that influence consumers’ purchasing behavior to engage with them across several different touch points. Against this back drop, GlobalData, a leading data and analytics company, has identified Health & Wellness, Product Uniqueness, Ethical Products, Digitally Advanced Products, Personalization, Product Aligned with Time and Money Constraints, Trust-worthy/Risk Free and Surrounding Changes as the eight megatrends that influence consumers’ purchasing behavior in the Asia-Pacific (APAC) region.

Shagun Sachdeva, Consumer Insights Analyst at GlobalData, says: “By identifying and understanding the factors that resonate well with customers, brands can develop a strategic plan, unique marketing message and efficient advertising campaigns to boost sales and increase margins.”

According to GlobalData, around 39% consumers in APAC are influenced by the ‘uniqueness’ and how ‘risk free or trustworthy’ a product is, making them the dominant factors while making the end purchase.

Sachdeva concludes: “In a scenario of changing buying behavior in today’s information-driven environment, companies need to focus on key themes to quickly respond to a rapidly evolving consumer behavior and realign their strategies to ride the next wave of growth.”

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