凯度-疫情后亚洲快消品展望（英文）-2020.5-37页_6mb

Worldpanel Weekly Data May 2020 Summary

Core Content

The Worldpanel Weekly Data May 2020 report provides an in-depth analysis of how the C-19 pandemic and the looming economic recession have reshaped shopper behavior and FMCG category consumption across the Asia-Pacific (APAC) region. It highlights the emergence of new needs, behaviors, and choices that are influencing the way consumers shop and spend. The report emphasizes the importance of adapting brand strategies to the evolving landscape and offers insights on how to navigate these changes effectively.

Main Questions and Insights

• Global vs Local Brands: Local brands are outperforming global brands in many markets due to their agility, wider distribution, and better understanding of local needs. However, in China, global brands are still showing stronger growth.

• Consumer Spending Shifts: Consumers are making fewer shopping trips, opting for larger baskets, and prioritizing essential goods. This shift is impacting categories that rely on impulse buying and frequent purchases.

• E-commerce Growth: E-commerce is expected to play a significant role in FMCG growth, though its impact is still incremental. Brands need to ensure visibility across all channels, including proximity stores and online platforms.

• Proximity Stores: These continue to be a vital part of the shopping experience, especially in markets where consumers are still cautious about going out. Their role is expected to remain important in the post-pandemic landscape.

• Displaced Households: Mid to lower income households are facing financial constraints and are more likely to switch to more affordable brands. These consumers are critical for FMCG growth in the New Normal.

• Promotions: Promotions are still a key driver for attracting and retaining shoppers, especially in a recessionary environment.

Key Trends

• Stay Home Economy: With more time spent at home, consumers are focusing on in-home consumption. This trend is expected to continue, with out-of-home spending returning at a slower pace.

• Unemployment Forecast: The report forecasts an increase in unemployment rates across APAC markets, with Indonesia, Malaysia, and the Philippines being the most affected. This has a significant impact on consumer spending patterns.

• Income Inequality: Markets with larger income gaps, such as India and Indonesia, are experiencing heightened inequality due to the disproportionate impact on informal workers.

• FMCG Resilience: Despite the economic downturn, FMCG categories are expected to grow faster than other sectors. This is due to the continued demand for essential goods and the resilience of the category.

Market Clusters

• Road to Recovery: Markets like Mainland China and South Korea have shown positive growth in FMCG categories post-lockdown.

• Overly Cautious: These markets, such as Japan, have seen continued positive growth in FMCG due to stockpiling before lockdowns.

• Challenged: Markets like the Philippines are still struggling to regain growth but show no signs of deeper decline.

• Undeterred: Markets such as China, South Korea, and Japan continue to shop FMCG as normal with minimal changes.

Brand Strategies

• Small Brands: Focus on disruption and uniqueness to attract new buyers.

• Medium Brands: Broaden their appeal by expanding channels and occasions.

• Big Brands: Lead and defend their category through premiumization and innovation.

Key Consumer Behaviors

• Less Frequent Shopping: Consumers are shopping less often, which affects impulse and promotional categories.

• More Rational Spending: Consumers are making more calculated purchases, prioritizing affordability and necessity.

• Increased Loyalty: While some consumers are loyal to familiar brands, others are making forced choices due to economic constraints.

Personal Care and Health Trends

• Health & Beauty Focus: Personal care brands are adapting to new consumer needs, such as mask-related skincare and hand hygiene products.

• New Occasions: Brands are creating new usage occasions, such as "healthy beauty" and "long-lasting products" to meet evolving consumer preferences.

Conclusion

The report underscores the importance of understanding the unique dynamics of each market and tailoring brand strategies accordingly. It highlights the need for brands to demonstrate value, innovate, and ensure visibility across all channels. The New Normal is here, and brands that adapt quickly and effectively are more likely to thrive in the coming months.