The Southeast Asia region is quickly becoming strategically important in the evolving global landscape. Lying between the two most populous nations, China and India, Southeast Asia is among the fastest growing economic region in 2023.
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Southeast Asian countries have for the past decade experienced strong economic growth, sustained domestic demand, rapid urbanisation, fast digitalisation, and an incredible middle-class growth. As a result, foreign direct investment is pouring in, and the consumer landscape is fast changing.
For example, after the Covid pandemic consumers in Southeast Asia have become increasingly sensitive to the environment and sustainability. We are starting to see consumers in Southeast Asia being more aware of the negative impact of their actions on the environment. They are making changes in their purchasing habits and demanding that businesses do the same.
This Eurogroup Consulting whitepaper, published in cooperation with the French Trade Advisors as part of the CCE APAC 2023 forum, specifically reviews in detail post-Covid consumer trends affecting how companies need to adapt to capture and defend market share in the key countries comprising ASEAN (Association of South East Asian Nations).
Some key elements of our study covers :
- Factors driving growth in ASEAN
- The New Generation of ASEAN Consumers
- How the Middle Class is Changing Consumerism
- The Importance of Going Local in ASEAN
- How ASEAN Retailers are Adapting to the Digital Age
- The Green ASEAN Revolution
- And recommendations to leverage and integrate these new trends into your Southeast Asia strategy.
The countries of Southeast Asia are undergoing rapid development and are experiencing a rapid rise in consumerism. To gain a better understanding of these opportunities, the French Foreign Trade Advisors, in partnership with Eurogroup Consulting, have conducted a study including some twenty interviews with experts on the subject.