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Resources

Market Updates

Why Targeting Asian Millennial Consumers is Beneficial for Your Business

In a world where businesses are always on the hunt for new opportunities to thrive and flourish, the Asian market presents a plethora of possibilities for growth. But as any savvy entrepreneur knows, it’s not just about tapping into a market — it’s about tapping into the RIGHT market. And when it comes to the Asian region, one consumer group that should not be overlooked are the Asian millennials. This group of consumers is not only known for their strong purchasing power, but also for their openness to foreign products and brands.

By understanding their needs and preferences, businesses can confidently and effectively tap into this exciting market and pave the way for success. But why is it a good idea to target Asian millennials? Here are some reasons why.

They’ve got deep pockets

Asian millennials, unlike any other age group, have a relatively high purchasing power. Some countries where millennials have more disposable income to spend on various consumer goods and services are China, Japan, South Korea, Singapore, and Taiwan. So if you’re looking for a market to penetrate, then you might wanna take note of these Asian countries.

They are tech-smart

Worrying about your digital marketing efforts not reaching your target consumers should not be your thing, especially when targeting the tech-savvy Asian millennials. They are known to be quick adopters of new technology which makes it possible for them to have a high engagement rate with businesses, regardless if it is online or offline.

They are brand-savvy

A lot of Asian millennials know what they want and what they don’t. This is true for a lot of products, especially luxury goods and services. This group has good eyes when it comes to premium products and is ready to pay more for things that would match if not exceed their expectations.

They have the “FOMO”

Asian consumers, especially millennials have a thing for trends. This sense of urgency and fear of missing out can drive them to make a decision to buy something, either to avoid feeling left out or to avoid missing out on a good deal or limited-time offer. This is good news for businesses as it can drive consumer purchasing behavior and lead to increased sales.

Market Updates

Standing Out From The Crowd: 4 Ways to Rise Above Asia’s Competitive Market

As countries such as China, Japan, India, and some Southeast Asian countries have been showing spectacular economic growth, doing business in Asia has become increasingly attractive for entrepreneurs and established companies alike. However, with competition being fierce and the market rapidly changing, standing out in this dynamic market can be a challenge.

But what are some ways to step ahead of the competition?  

Understand the Local Market and its Culture

When doing business within a specific region, or a country, it is important to note that researching and understanding the local market and its culture can be a contributing factor to the success of your business. Showing local customers that you respect and care about their culture and traditions influences their purchasing decisions and overall perception of your brand. Making them choose your brand over others. 

Implement Digital Marketing Strategies

Asia is known for its wide use of digital platforms such as social media, and implementing digital marketing strategies allows a brand to tap into millions of consumers in just a few clicks. But it doesn’t stop there, as digital marketing can also allow businesses to target specific demographics and tailor their marketing efforts to provide what their customers want, and what they need. 

Lean Towards Quality

Product quality is of great importance for Asian consumers because it is seen as a reflection of the brand’s overall reputation and credibility. In Asian cultures, there is a strong emphasis on the value of goods and services, and consumers are willing to pay a premium for products that are well-made and durable.

Keep Up With the Latest Industry Trends

Of course, how can you shine if you are not updated on the latest trends? Keeping up with what is “IN” allows you to anticipate changes in the industry and lets you adapt accordingly. One more thing about knowing the latest trends is that it helps any business discover a new set of opportunities to stay competitive and relevant in the market.

It’s important to note that while these tips can help you stand out in the competitive Asian market, they are not a guarantee of success. Business success still depends on your efforts and abilities as a business owner, so you’ll need to stay vigilant and adapt as needed to stay ahead of the competition.

eCommerce

Exploring the Opportunities: Five Advantages of Doing E-Commerce Business in Japan

Asia is home to some of the largest e-commerce economies in the world, with China leading the list. But if you’re not yet ready to enter the lucrative economy behind the great wall, there are still a lot of countries to consider. Aside from the Chinese market, Asia has more giants in the e-commerce industry, one of which is China’s neighboring country, Japan. But what are some factors that make Japan an attractive destination for businesses looking to establish themselves in the e-commerce industry?

Large and technologically advanced market

Japan is a technology powerhouse, and its consumer market is no exception. With tech-savvy and online-friendly shoppers, it’s the perfect playground for e-commerce businesses to flourish. Imagine the possibilities and opportunities waiting for you in the land of the rising sun, Japan’s e-commerce market is one not to be missed!

Strong logistics and delivery infrastructure

Japan is the ultimate delivery dreamland for e-commerce businesses. The country’s logistics and delivery infrastructure are second to none, ensuring that your products reach your customers in a timely and efficient manner. Whether you’re selling physical goods or services, Japan’s delivery capabilities will make sure your customers stay happy and satisfied.

High levels of trust and security

Japanese consumers have a high level of trust in e-commerce businesses, which makes it easier for businesses to operate in the country. This is partly due to the strong emphasis on security and privacy in Japan, which creates a sense of trust among consumers when they make online purchases.

Growing market

The e-commerce market in Japan is growing rapidly, with many consumers turning to online shopping as a convenient and cost-effective way to purchase goods and services. This creates a lot of opportunities for businesses to expand and grow in the Japanese market.

Low levels of competition

While e-commerce is growing in popularity in Japan, there is still relatively low levels of competition compared to other major e-commerce markets such as the US and China. This means that there is still a lot of room for businesses to establish themselves and gain market share in Japan.

DTC

5 Myths About DTC That May Have Fooled You

In today’s time, direct-to-consumer (DTC) brands have become the talk of the town. It is molding its shape in the industry as consumers choose to go straight toward the selling company rather than the retailers and other intermediaries. The DTC strategy may have brought benefits on both sides — companies and consumers, but it also led to provoking some misconceptions and false beliefs.

Here are 5 myths about DTC that may have fooled you

Myth: DTC Brands Are All About E-commerce

While many DTC brands can be found online such as through websites or e-commerce platforms, this is not always true since it is not only the way to sell their products. Some DTC brands also have physical retail stores in which they can sell their products through traditional retail channels like department stores or other physical storefronts. In this way, they are able to reach a wider customer base and expand their brand presence.

Myth: DTC brands are all startups

It is a common misconception that all DTC brands are start-ups, but this is not the case. While the DTC model has become increasingly popular in recent years and has given rise to many new and innovative start-up brands, there are also established brands that have embraced the DTC model.

Myth: DTC brands only sell products

While many DTC brands do indeed focus on selling physical goods, such as clothing, beauty products, home goods, and more, there are also DTC brands that offer services or subscription-based models. These services may include things like online courses, coaching or consulting services, or subscription-based access to a particular service or product. 

Myth: DTC brands are cheaper

People often perceive DTC brands as a cheaper option, but it isn’t always true. Many DTC brands offer premium, high-quality products that come at premium prices. These brands may target consumers who are willing to pay a higher price for a superior product or shopping experience.

Myth: DTC brands are not as reliable as traditional brands 

While it is true that some DTC brands may be relatively new and still establish their reputation, others have been around for a long time and have built a solid track record of reliability. These established DTC brands may have a loyal customer base and a proven track record of delivering high-quality products and services.

Research

The Getting to Know Stage: Five Types of Asian Consumers

Asian consumers are known for being diverse. They have distinct preferences, behaviors, and needs, which means failing to understand these differences can lead to missed opportunities and lost sales. Upon knowing these groups of consumers, foreign brands can tailor their products and marketing strategies to better meet the needs of this diverse market, increasing their chances of success. 

The Digital Natives

Consists of young, educated consumers that are comfortable using technology for things such as searching, gaming, and of course, shopping. They are likely to use their smartphones and laptops to shop online and are interested in the latest trends and innovations

The Comparison Shopper

This group of consumers is those who are looking for the best deal possible and are willing to spend time researching products and comparing prices before making a purchase. They may be more likely to shop on marketplaces or use coupons, and vouchers and avail discounts to save money.

The Demanding 

Ever seen someone who put a value on the overall shopping experience over anything else? If yes, then they belong to this consumer type. This group of consumers is the ones that are willing to pay more for a personalized or premium shopping experience. They may be more likely to shop at luxury or boutique online retailers or use services like buying online or picking up in-store.

The “I Want It Right Now” 

This group values convenience above all else and is willing to pay a premium for fast shipping and easy returns. They may be more likely to use same-day delivery or subscribe to subscription-based shopping services.

The Traditionalists

The oldest consumer group in this list. They are people who prefer to complete their purchases personally and may be less comfortable with technology. They may be more likely to shop in physical stores or use more traditional shopping methods, such as phone or email orders and more.

eCommerce

Five E-Commerce Trends to Watch Out For This 2023

It was in 1982 when Boston Computer Exchange, the first-ever e-commerce company opened for business. And since then, e-commerce has grown to be one of the most transformative industries on the planet. The industry has been through a lot of trends each and every year, and as we started a new year, let us take a look at some of the trends that will drive e-commerce growth this 2023. 

Omnichannel 

Omnichannel has been a very effective practice to drive sales and achieve success. And while it has been effective for the past years, there is no doubt that this strategy can still be a game changer this 2023. Personalizing customer experience, making sure you have a mobile-friendly website, and offering customer support are just some things to start with.

Mobile Commerce

There are billions of people around the world who use their mobile phones most of the time. And the majority of their time was spent looking for products and services to purchase online. So making sure that your website and its popups are mobile friendly, free of bugs that will make customers lose interest. 

Social Media Platforms

Social media has proven that it is one of the most powerful tools that can help brands gain customers. Platforms like Facebook, Twitter, Instagram, and TikTok are some examples of social media platforms that introduce your brand to a wide audience and reach people that would be interested in buying your product.

Artificial Intelligence

As we head towards a new year, technology also heads to new heights. One of the results of this innovation is the presence of Artificial Intelligence. AI in the past few years has shown so much potential that can help your business with its day-to-day operations. From chatbots that are available 24/7 to coming up with personalized advertising campaigns, this strategy will surely bring your brand to the top of its game. 

Live Selling

Live selling has been a really popular strategy during the pandemic. It made selling possible even in the comfort of your home. And aside from that, it also allowed customers to ask questions and get answers in real-time. This strategy is really helpful when it comes to achieving your entrepreneurial goals, what you need is just confidence, creativity, and hard work to stand out from the crowd. 

Resent Resources

Market Updates

Why Targeting Asian Millennial Consumers is Beneficial for Your Business

In a world where businesses are always on the hunt for new opportunities to thrive and flourish, the Asian market presents a plethora of possibilities for growth. But as any savvy entrepreneur knows, it’s not just about tapping into a market — it’s about tapping into the RIGHT market. And when it comes to the Asian region, one consumer group that should not be overlooked are the Asian millennials. This group of consumers is not only known for their strong purchasing power, but also for their openness to foreign products and brands.

By understanding their needs and preferences, businesses can confidently and effectively tap into this exciting market and pave the way for success. But why is it a good idea to target Asian millennials? Here are some reasons why.

They’ve got deep pockets

Asian millennials, unlike any other age group, have a relatively high purchasing power. Some countries where millennials have more disposable income to spend on various consumer goods and services are China, Japan, South Korea, Singapore, and Taiwan. So if you’re looking for a market to penetrate, then you might wanna take note of these Asian countries.

They are tech-smart

Worrying about your digital marketing efforts not reaching your target consumers should not be your thing, especially when targeting the tech-savvy Asian millennials. They are known to be quick adopters of new technology which makes it possible for them to have a high engagement rate with businesses, regardless if it is online or offline.

They are brand-savvy

A lot of Asian millennials know what they want and what they don’t. This is true for a lot of products, especially luxury goods and services. This group has good eyes when it comes to premium products and is ready to pay more for things that would match if not exceed their expectations.

They have the “FOMO”

Asian consumers, especially millennials have a thing for trends. This sense of urgency and fear of missing out can drive them to make a decision to buy something, either to avoid feeling left out or to avoid missing out on a good deal or limited-time offer. This is good news for businesses as it can drive consumer purchasing behavior and lead to increased sales.

Market Updates

Standing Out From The Crowd: 4 Ways to Rise Above Asia’s Competitive Market

As countries such as China, Japan, India, and some Southeast Asian countries have been showing spectacular economic growth, doing business in Asia has become increasingly attractive for entrepreneurs and established companies alike. However, with competition being fierce and the market rapidly changing, standing out in this dynamic market can be a challenge.

But what are some ways to step ahead of the competition?  

Understand the Local Market and its Culture

When doing business within a specific region, or a country, it is important to note that researching and understanding the local market and its culture can be a contributing factor to the success of your business. Showing local customers that you respect and care about their culture and traditions influences their purchasing decisions and overall perception of your brand. Making them choose your brand over others. 

Implement Digital Marketing Strategies

Asia is known for its wide use of digital platforms such as social media, and implementing digital marketing strategies allows a brand to tap into millions of consumers in just a few clicks. But it doesn’t stop there, as digital marketing can also allow businesses to target specific demographics and tailor their marketing efforts to provide what their customers want, and what they need. 

Lean Towards Quality

Product quality is of great importance for Asian consumers because it is seen as a reflection of the brand’s overall reputation and credibility. In Asian cultures, there is a strong emphasis on the value of goods and services, and consumers are willing to pay a premium for products that are well-made and durable.

Keep Up With the Latest Industry Trends

Of course, how can you shine if you are not updated on the latest trends? Keeping up with what is “IN” allows you to anticipate changes in the industry and lets you adapt accordingly. One more thing about knowing the latest trends is that it helps any business discover a new set of opportunities to stay competitive and relevant in the market.

It’s important to note that while these tips can help you stand out in the competitive Asian market, they are not a guarantee of success. Business success still depends on your efforts and abilities as a business owner, so you’ll need to stay vigilant and adapt as needed to stay ahead of the competition.

eCommerce

Exploring the Opportunities: Five Advantages of Doing E-Commerce Business in Japan

Asia is home to some of the largest e-commerce economies in the world, with China leading the list. But if you’re not yet ready to enter the lucrative economy behind the great wall, there are still a lot of countries to consider. Aside from the Chinese market, Asia has more giants in the e-commerce industry, one of which is China’s neighboring country, Japan. But what are some factors that make Japan an attractive destination for businesses looking to establish themselves in the e-commerce industry?

Large and technologically advanced market

Japan is a technology powerhouse, and its consumer market is no exception. With tech-savvy and online-friendly shoppers, it’s the perfect playground for e-commerce businesses to flourish. Imagine the possibilities and opportunities waiting for you in the land of the rising sun, Japan’s e-commerce market is one not to be missed!

Strong logistics and delivery infrastructure

Japan is the ultimate delivery dreamland for e-commerce businesses. The country’s logistics and delivery infrastructure are second to none, ensuring that your products reach your customers in a timely and efficient manner. Whether you’re selling physical goods or services, Japan’s delivery capabilities will make sure your customers stay happy and satisfied.

High levels of trust and security

Japanese consumers have a high level of trust in e-commerce businesses, which makes it easier for businesses to operate in the country. This is partly due to the strong emphasis on security and privacy in Japan, which creates a sense of trust among consumers when they make online purchases.

Growing market

The e-commerce market in Japan is growing rapidly, with many consumers turning to online shopping as a convenient and cost-effective way to purchase goods and services. This creates a lot of opportunities for businesses to expand and grow in the Japanese market.

Low levels of competition

While e-commerce is growing in popularity in Japan, there is still relatively low levels of competition compared to other major e-commerce markets such as the US and China. This means that there is still a lot of room for businesses to establish themselves and gain market share in Japan.

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