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Story-telling, value, authenticity & culture: Nirvik Singh’s advice on Asian consumer

17-September-2009
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Story-telling, value, authenticity & culture: Nirvik Singh’s advice on Asian consumer

Grey Group’s APAC Chairman & CEO Nirvik Singh took the stage on the first day of Spikes Asia to give insights from a recent survey that the company had undertaken. Singh was speaking on ‘Understanding and Targeting the Asian Consumer’. The other speaker in this session was Edmond Neo, Director (Group Commercial), Asia Pacific Breweries.

Singh started off his address by saying that the Asian consumer was behaving different in the recessionary times and the behaviour changed between various demographies of the different markets. The only common thread was that the consumers were cutting spends, they were buying smart and re-evaluating their relations with brands.

One of the first points that Singh spoke about was that consumers were looking at brands that had stories to tell. He said, “Rather, the Asian consumers are talking more about the little pleasures of life than luxuries, and they are complaining about more stress and less balance in life. This presents an opportunity for brands.”

The second important point was in regards to the value that the brands were offering. The Asian consumers had not stopped spending, but were more careful and cautious about making smart purchase decisions. Brands had to be mindful of this change to tap on the Asian consumer.

The other important factor that was discussed was transparency. Singh explained that increasingly the consumer wanted knowledge over enigma, and brands had to make the extra effort to demystify themselves if they had to stay in the lives of the consumers. Consumers were eagerly waiting for growth in technology and the ability to do more online.

Another important aspect that stayed close to the Asian consumer was the closeness to culture. Any brand that was re-routing to culture was taking the right step in the consumer’s direction.

Where Singh mentioned some of the points for brands to bear in mind while speaking to the Asian consumers, Edmond Neo presented the case study of Tiger Beer to explain how the brand had followed some of these traits to stay as a relevant brand to its consumers.

Neo’s checklist had points like consistency, innovation and engagement, among others. He took the audience through these points and how Tiger Beer had worked around these in the last several decades.

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