Carousell Media Group and IAB SEA+India Reveal Asian Consumers’ Attitudes Towards Savings, Spending, Shopping and Sustainability
The IAB SEA+India surveyed more than 61,500 respondents who use CMG recommerce platforms in Singapore (carousell.sg), Hong Kong (carousell.com.hk), Vietnam (chotot.com), Malaysia (mudah.my) and the Philippines (carousell.ph).
This year’s regional research establishes the audience profile in each market, explores income, investing and spending habits, how respondents spend time online, streaming services to which they subscribe, their food and grocery shopping habits including use of meal delivery platforms, future purchasing plans, what influences their spending, and how and why they are shopping sustainably.
Miranda Dimopoulos, Regional CEO, IAB SEA+India says there has been a seismic shift to online led by the Southeast Asia and Hong Kong regions, and on a scale never before seen.
“We’re seeing everything from mundane daily tasks to health and self development being enabled from your mobile device. We also see that CMG’s hyper-engaged audiences are prioritising sustainable shopping to protect the planet,” says Ms Dimopoulos.
JJ Eastwood, Managing Director, CMG says that this year’s survey builds upon research from last year, again in partnership with the IAB SEA+India, into Millennials and Sustainable Purchasing. “This year we drilled deeper into respondents’ financial habits which reveals that the largest spending category, both current and future, is local and international travel.
“It is also gratifying to see that our Carousell Group marketplaces are now synonymous with sustainability and social ethics, and we have seen a quantum increase in usage of our recommerce marketing platforms over the past two years.”
Key regional findings include:
- 55% of respondents shop sustainably driven by concerns about climate change and environmental impact rather than financial savings
- 64% of respondents say they are saving more this year than in the previous year
- 47% of respondents plan on travelling locally and abroad over the next year
- Stocks, bonds, and property remain preferred investments; however, there is an increased interest in more high-risk investments such as crypto currencies with one-quarter (26%) of respondents currently investing in crypto, particularly in Malaysia, Philippines and Singapore
- The most time online is spent shopping for meals, food and groceries, streaming content, and in personal development such as online learning, and maintaining or improving their physical fitness and mental wellness
- Respondents said that they are mostly influenced to make a purchase by promotions and advertising campaigns
- All respondents say they shop sustainably; however, this is actioned in different ways whether making fewer new purchases; using Carousell Group’s recommerce marketplaces for buying and selling; taking their own shopping bags in-store, and seeking out brands with sustainability principles and practices.
“We see a significant swing towards shopping sustainably to mitigate climate change and protect the environment, rather than purely to save money,” says JJ Eastwood. “In fact, we see that people are prepared to pay more for sustainably sourced or produced food and products. We have an audience of tens of millions of people using our recommerce platforms. If you extrapolate their contributions to sustainable shopping, you have a significant start to environmental protection at a consumer level.”
You can also view the recording of the webinar detailing some of the top findings from the report here: https://bit.ly/3NSMzhM
To discuss retail media opportunities with Carousell Marketplaces in more detail, email email@example.com.
Any research questions or feedback can be sent to firstname.lastname@example.org.
Visit www.iabseaindia.com to view and download the regional and local market reports
About Carousell Media Group:
The Carousell Media Group is the media arm of the Carousell Group and offers advertising solutions for brands and agencies across all brands – Carousell, Mudah.my, Cho Tot, OneKyat, Ox Street and Refash. With tens of millions of users in 8 different markets across Greater Southeast Asia, Carousell Media Group provides scale and reach to advertisers. Visit here for more information.
About IAB SEA+India:
The IAB SEA+India is the not for profit industry association that unites the digital advertising industry across 7 countries in Southeast Asia and India. It represents its members to governments at all levels across the region. The membership, comprising brands, publishers, agencies and tech platforms, has grown twelvefold in the past eight years. With an active Regional Board and four specialist councils, it publishes industry discussions, white papers, research and guidelines for members as well as providing mentoring and education initiatives. Visit here for more information about becoming a member.