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Southeast Asia’s centennials prefer to shop online, pay offline: Survey
Southeast Asia’s centennials prefer to research products and shop online, while still choosing to pay with cash on delivery, a recent survey has found.
Global communications network Dentsu Aegis Network, in collaboration research agency Econsultancy, launched at the end of October a survey titled “Here Comes the Centennial: Southeast Asia’s New Generation of Shoppers”, which looks into the online buying behavior of centennials, those who are born between 1995 until now, which are seen as the consumers of the future.
Respondents involved 3,000 online shoppers aged 16 to 23 years old in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
“All eyes are on Southeast Asia as the world’s next consumer powerhouse, with its young population and increasing purchasing power. Close to 280 million centennials – tomorrow’s consumers – call this region home,” Nick Waters, the CEO of Dentsu Aegis Network Asia Pacific, said in a statement.
With 50 percent of centennials spending more than US$30 a month on online shopping and nine percent spending over $100 monthly, the statement further noted that the new generation attracted retailers, as the group presented lucrative potential in online shopping and e-commerce platforms.
While shopping online is prevalent among the generation, the survey found that the concept of a cashless society had yet to fully take off for centennials in six countries surveyed, with 56 percent of respondents still preferring to pay cash on delivery for their purchases.
The next generation of shoppers also enjoy having a variety of payment methods as options, with 43 percent of respondents saying they would readily abandon their purchases if their preferred payment option was not available.
Social media platforms also play a major role in shopping behavior, with the generation having grown up with access to smartphones.
Social media apps such as Facebook and Instagram are the second-most popular place for centennials to shop in, showing it as the preferred choice of 47 percent of respondents.
Close to half, or 49 percent, also turn to social media when researching for information on future purchases, while the second choice is asking friends (45 percent), followed by family (27 percent).
The survey further found that brand name and image is no longer a priority of centennials, with an emphasis on brand experience instead, as only 11 percent cite having a prestigious or famous brand as one of their top three attributes when choosing where to shop.
The generation also expects a seamless online shopping experience, with up to 86 percent of centennials saying they would not use an app or website that took too long to load, the survey showed, while 82 percent would not use an app or website that was difficult to navigate.
“Centennials are coming of age in an era where high-speed internet is always available and they expect technology and brand experiences that are fast, responsive and seamless,” said Jefrey Gomez, managing director at Econsultancy Asia Pacific. (kes)
Source: http://www.thejakartapost.com/life/2018/11/17/southeast-asias-centennials-prefer-to-shop-online-pay-offline-survey.html