Each quarter, the Mintel Trends team identifies the top consumer trends set to impact the Asia Pacific region and discusses them in detail during the ‘Top Trends in Asia-Pacific’ webinar series. Here, we share one of these trends expected to play out over the next three months.

Prepare for the Worst

Moderation and preparation are in as consumers prepare for the worst.

Asia Pacific’s consumption habit, today, has evolved into one that is fear-driven as health and safety are two things consumers are not scrimping on. According to Mintel’s Consumer Spending Priorities China 2017 report, half of Chinese consumers say the health of their family members and of their own will have a great impact on their spending confidence.

Health has become a driving force behind what consumers are now purchasing, and brands are taking notice. For instance, Samsung and Surf Life Saving Australia have teamed up to develop an app that helps raise awareness about beach safety.

But it’s not just physical health consumers are concerned about, it’s also the health of their finances. With the current uncertainty for the future economic outlook across the region, consumers in APAC are looking to avoid big ticket items and maintain better control of their finances. Mintel research reveals as many as three in five metro Thai consumers said that getting household finances in order, is what they hope to achieve in 2016.

As a result, consumers are now looking for ways to reduce their need to own and brands can cater to this desire. For example, targeting consumers who don’t own cars, South Korean convenience store franchise chain CU signed a deal with car-sharing service So Car to provide parking platforms at its branches.

Looking to the future, as digital security continues to receive even more scrutiny, more and more consumers will be looking to equip themselves with the means of financial and personal safety – a space that companies could capitalise on moving forward.

Mintel’s ‘Top Trends in Asia-Pacific’ quarterly webinar series features Mintel Trends analysts sharing the research and evidence behind key consumer trends, providing examples of how leading-edge brands are already responding to trends, and offering recommendations for how companies can plug into the strategy. Sign up to join the next ‘Top Trends in Asia-Pacific’ webinar here.

Delon Wang is Trends Manager, Asia Pacific at Mintel. He oversees Trends content and Trends client servicing for the region.

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