The Emerging Trend in Consumer

Behavior
 Learning Objectives

1. Understand the trends in consumer behaviour of

Millennials and Generation Z
2. Understand the changes in the consumer journey
3. Discuss personalisation is new way of consumer
behaviour
4. Discuss How big data is increasingly being used
for understanding consumer behaviour
 Today’s consumers
are technologically advanced.
They have
fully connected lifestyles
through multiple
devices, creating a constant
digital footprint.
Millennials and generation Z will drive
consumer behaviour in 2023
 Consumer behaviour of Millennials
and generation Z in 2023
Millennials spend more money online and buy
online more frequently than Gen Z
q Across Southeast Asia (SEA), consumers aged 23 to
37, or Millennials, are more likely to shop online
every week (34%) than consumers aged 16 to 22, or
GenZs (16%).
q Millennials are also more likely to have spent the
equivalent of US$100 online in 2019 for every major
consumer goods category.
 Consumer behaviour of Millennials
and generation Z in 2023 (cont.)
Facebook is millennials’ most popular social network,
and Instagram is for Gens Z. TikTok remains niche

• More SEA (South East Asia) Millennials use Facebook

every day for 30 minutes (63%) than any other digital
media apart from streaming video.
• Instagram is the most popular GenZ social network in
the region, though in many countries Facebook is still
used by a majority of GenZs.
• Fewer than 1 in 5 from either generation currently use
TikTok for more than 30 minutes daily.
Consumer behaviour trends
Millennials and generation Z and
frequency shopping online

How often do you make online purchases?

 Categories of products that Millennials
and generation Z buy

• More than one in four did so in

2023 for every category,
except for games and apps.
• The only categories on which
around one in four GenZs
spent $100 in 2023 were for
items which are relatively
expensive such as electronics,
travel and clothing (28%, 24%
and 22% respectively).
 Increased Demand For Ethical And
Sustainable Product

According to research by IBM 2023,

77% of consumers consider
sustainability and environmental
responsibility to be at least
"moderately important" brand values.
The consumer journey in digital world
Channels
• The two most popular digital
channels, free and paid streaming
video were used by (66%) of
members of each generation.
• Millennials across the region are
significantly more likely to watch
tv (44% Z, 54% M), read
magazines and newspapers (18%
Z, 26% M) and listen to the radio
(18% Z, 30% M) every day for 30
minutes than GenZs.

• GenZs are less likely to spend a

lot of time watching TV or
listening to the radio,
% Who Spend More Than 30 Minutes Per Day
On Facebook By Country And Generation
Consumer attention via social media
influencers
When shopping online, for which products do you find influencers helpful (Vietnam)?
 Information Gathering

• Marketer continue to
invest heavily in Google
and YouTube and ensure
the right product
information is reaching.
• The company’s website
updated with high-quality,
detailed product
information, investing in
SEO and buying Google
search ads for relevant
keywords.
Where do consumers shop online?
 The reasons that consumers prefer to
buy in corporate marketplaces

• Brand websites and marketplaces may satisfy different online consumer

needs.
• Shoppers may visit a brand site for inspiration and then purchase on a
marketplace.
• Brand marketers must ensure a seamless customer experience between the
two, including branding, promotions and product availability.
• Marketers should also repurpose some company websites to highlight brand
social media channels, user-generated content and community-building
special events.
Online Customer Experience
When selecting a platform to buy from,
what do you feel are the most important
things to consider? (in Vietnam)
The factors of consumer concerns
Percentage concerned about fakes
when shopping online
Payment Methods

What payment methods do you use when shopping online? (Vietnam)

Shifting to E-wallet
 Shifting to E-wallet
• GenZs and Millennials in SEA use e-wallets. They find that e-wallets are
faster and easier to use than other payment methods.
• Being easy to use is particularly important as it means that e-wallets can gain
market share in countries that currently use credit cards for online payments
and be adopted quickly by those that do not.
• They can earn discounts, incentives and bonuses when using them. This
feature makes e-wallets more competitive than bank accounts, which
typically do not offer benefits, and some credit cards, which may charge fees.
Receiving a bonus every time a payment is made without having to pay
annual fees is a very attractive incentive, indeed.
 Personalisation

The use of cookies, tracks and analyses each individual click, to

provide more personalisation and tailored marketing efforts.
Amazon uses this browsing data to predict hot trends, then
competes on value rather than price, and improves their overall
customer experience.
 Personalisation

Increasing levels of personalisation in service design

and communication
Hyper-personalisation:
• Involves creating custom and targeted
experiences using data, analytics, AI, and
automation.
• Can be used to send highly contextualised
communications to specific customers at
the right place and time, and through the
right channel.
Retail Insider Media Ltd., 2022, Hyper-personalisation, image,
retrieved 1 July 2022, <https://retailinsider.b-cdn.net/wp-
content/uploads/2020/03/personalization-in-retail.png>.

SAS Institute Inc. 2022, Predictive analytics, SAS Institute Inc., retrieved 1 July 2022, <https://www.sas.com/en_au/insights/analytics/predictive-
analytics.html>.
 Big data
1. Using big data and predictive analytics for business
and marketing decision making

Big data: "The definition of big data is data that

contains greater variety, arriving in increasing
volumes and with more velocity. This is also
known as the three Vs." (Oracle Australia 2022)
Predictive analytics: "Predictive analytics is the
use of data, statistical algorithms and machine
learning techniques to identify the likelihood of Analytics Vidhya, 2022, Big data, image, retrieved 1 July 2022,
<https://miro.medium.com/max/800/1*cDO5wuA0NdevLb45zHRvog.jpeg>.

future outcomes based on historical data." (SAS

Institute Inc. 2022)
Oracle Australia 2022, What is big data?, Oracle, retrieved 1 July 2022, <https://www.oracle.com/au/big-data/what-is-big-data/>.
SAS Institute Inc. 2022, Predictive analytics, SAS Institute Inc., retrieved 1 July 2022, <https://www.sas.com/en_au/insights/analytics/predictive-analytics.html>.
 Big Data

• Big data can be structured (often numeric, easily

formatted, and stored) or unstructured (more free-form,
less quantifiable).
• Nearly every department in a company can utilise
findings from big data analysis but handling its clutter
and volumes can pose problems.
• Using big data well can lead to new revenue
opportunities, more effective marketing, better customer
service, improved operational efficiency and a
competitive advantage.
 Using AI bridges the gap between data and
experience

Personal product Conversational In store

recommendations commerce assistance

Digital financial Identifying

advice Inefficiencies