Description
In 2020, Southeast Asia’s migration from the offline to the online economy surpassed our initial estimates and took off at an accelerated pace. Changes that were expected to take place over half a decade took place in just a year, partly because of the consumption habits brought about by the pandemic.
This “new normal” resulted in new purchasing habits, new ways to discover, new preferences and new expectations. A new consumer way of life has emerged from these transformations. But which changes are transient and which ones will last? How will consumption patterns change when restaurants, cinemas and borders reopen?
In this year’s report, we hope to give a sense of what this post-pandemic consumption could look like. We can’t tell you what the future holds, but we can tell you that the many business executives we spoke with and the thousands of consumers we surveyed agree that the digital economy, from ecommerce to online groceries to social media to epayments, will continue to play an outsized role in daily life, even after COVID-19. The digital transformation is here to stay, and it is happening right now in Southeast Asia.
Beyond the pandemic, the challenge of an environmental catastrophe is also starting to figure in consumers’ consciousness. Consumers now say environmental, social and governance (ESG) factors can in their eyes make or break a brand.
All these are part of the paradigm shift brands are witnessing in consumer behaviour. It’s manifesting in how people approach life, in how they work, in how they play. Consumers are not just adjusting to a new way of life at home—they are defining it on their own terms. Discover the rise of digital trends starting from home and uncover the new digital expectations set to transform Southeast Asia.
