预测2022年及以后的亚洲通货膨胀（英）-kantar-2022.4-55页_1mb

Summary of Anticipating Inflation in Asia 2022 & Beyond

Core Content

This document explores how Asian consumers are responding to inflationary pressures in the post-pandemic era, focusing on FMCG (Fast-Moving Consumer Goods) trends, shopper behavior, and brand strategies to maintain growth and relevance. It highlights the evolving dynamics of consumer spending, the role of promotions, the impact of private label, and the importance of adapting to new shopping patterns.

Main Points

1. Consumer Behavior & Sentiment

• Mobility Increase: Shoppers are returning to workplaces and grocery stores, with a relatively lower time spent at home compared to pre-pandemic levels.
• Confidence Levels: Consumer confidence has generally improved compared to a year ago, but some markets show signs of concern over rising prices.
• Shopper Adaptation: Consumers are adapting to new realities, but inflation fears are creeping in, especially in markets with significant low-income populations.

2. Inflation Impact on Shopping Habits

• Price Sensitivity: Shoppers are likely to switch to cheaper products, but different categories face varying price change trajectories.
• Frequency & Basket Size: Shopping frequency is unlikely to return to pre-COVID levels, and shoppers are maximizing each trip. Brands need to focus on heavier baskets and creating new usage occasions.
• Out-of-Home Consumption: There's a shift towards planned shopping trips and reduced on-the-go consumption, which affects category performance.

3. Channel Shifts & Ecommerce Trends

• Ecommerce Growth: Online shopping has seen significant growth and will continue to play a key role, though it may slow in emerging SEA markets as mobility increases.
• Proximity Channels: These remain important for convenience and affordability, especially for lower SEC (Socio-Economic Classification) households.
• Modern Trade (MT): MT is recovering, and brands must optimize pricing and promotions to drive traffic and maintain relevance.

4. Private Label Trends

• Private Label Expansion: Private label is becoming more prominent, especially in high MT and high-trust markets. It is no longer just about being cheaper but also includes premiumization and innovation.
• Performance Monitoring: Brands should track the performance of private label in their category and ensure it remains competitive.

5. Promotions & Incrementality

• Promotion Recovery: Promotions are recovering, with a focus on driving value for shoppers.
• Incrementality Focus: Brands should maximize the "incrementality" of promotions while minimizing "detrimental" effects.
• Promotion Mechanics: Different categories and channels require tailored promotional strategies to effectively drive growth.

6. Affordability & Targeting

• Affordability Importance: Affordability is key, but it is defined by the consumer and their context. For lower SEC households, affordability means accessible price points.
• Targeting Strategies: Brands should identify and target value-seeking consumers, especially in markets where inflationary pressures are high.

7. Emerging Consumer Segments

• Single/Couple Households: These are growing in importance, especially in more developed markets. They tend to prioritize convenience, pampering, and indulgence.
• Product & Pack Optimization: Brands must engage with this segment through appropriate product, pack, and pricing strategies, as they are more sensitive to promotions.

Key Strategies for Brands

• Create New Usage Occasions: Launch products that align with new consumption scenarios, such as convenient meals and breakfast options.
• Drive Heavier Baskets: Introduce larger packs or multi-serve formats to increase basket value.
• Deliver Experiences: Offer unique in-store or online experiences that justify the price, such as virtual concerts.
• Leverage Ecommerce: Differentiate offers on e-commerce platforms to capture incremental growth.
• Focus on Incrementality: Ensure promotions generate new spend and trips rather than just cannibalizing existing ones.
• Innovate: Develop new product benefits and unmet needs to support premium pricing and capture niche markets.
• Optimize Product Mix: Adjust product offerings to include higher-priced items where possible, while maintaining affordability for all segments.
• Reduce Pack Size: Consider smaller pack sizes to manage consumption and potentially increase brand loyalty.

Conclusion

Inflation in Asia is reshaping consumer behavior, with shoppers prioritizing affordability, convenience, and value. Brands that adapt by creating new usage occasions, optimizing basket size, leveraging e-commerce, and focusing on innovation and affordability will be better positioned to win in the evolving market. Understanding the specific needs of different shopper segments, particularly low SEC and single households, is essential for maintaining relevance and driving growth.