Page 12 - EM - Export Magazine Perfumery Edition

R E P O R T

that mirror the consumer journey, combining localised INTERVIEW WITh
3. Create seamless, integrated omnichannel experiences

content with frictionless transitions between viewing and MICHEL
purchasing.
4. Plan and strategize for the future of digital commerce,
considering the synergy between store networks BEAUGIER
and digital marketplaces, and integrating emerging
technologies like e-wallets and Buy Now Pay Later EXPORT MAGAZINE: Does the ASEAN consumer exist?
options. Compared to Asia?
5. Prioritise aftersales engagement, customer MICHEL BEAUGIER: The ASEAN consumer exists and is quite
personalisation, and loyalty through targeted promotions, like the Asian consumer. Both groups are emerging consumers
rewards, and exceptional customer experiences both who have experienced rapid evolution in a relatively short time.
online and offline. The Asian consumer has gone from a kart to a Ferrari in just
RECOMMENDATION 2: Rethink Growth Strategies With a 20 years, compared to 60 years in Europe. They are also digital
More Localised Approach – consumers who were born with a mobile phone. Similarly, the
1. Understand each market’s specificities and complexities ASEAN consumers are from the GenZ generation, who were born
by researching and investing resources in local with computers and phones, and are used to playing with digital
partnerships, supply chains, and teams. devices. They prefer consuming products via digital tools, and
2. Leverage global expertise while adapting to local with seven million Indonesians joining the middle class annually,
specificities, focusing on co-design, production, the region will have more than 50% of its population move to
distribution, and financing partnerships with local middle class by 2030. COVID-19 has boosted consumption trends
companies. and given rise to different types of e-commerce, including first
3. Develop a strong brand identity with a local anchor, and second-generation online shopping, with the latter being
utilising localised content and marketing approaches more interactive, showcasing products and requiring more
tailored to each country or city. interaction on social media. However, it is worth noting that
4. Create value through a combination of your brand’s there is a split between ASEAN Muslims and the rest. The aging
strengths and local partnerships to maximise market population trend will vastly shape the consumption behaviour
penetration and consumer engagement. in ASEAN.
5. In certain instances, leverage the power of your global
brand while still localizing products and retail experiences EM: Would you say there is a unit of consumption in ASEAN?
to resonate with the target market. MB: I would say that there is a clear unit of consumption in
RECOMMENDATION 3 : Invest in Sustainability Today to ASEAN. The region has a considerable access rate to media, with
Win the Consumer of Tomorrow Indonesia being particularly exposed. The island phenomenon
1. Invest in sustainable development practices now to be in countries like the Philippines and Indonesia has pushed
well positioned for future demand and standards in the consumption towards the internet and digital platforms. As a
region. result, there is less reliance on brick-and-mortar stores. The
2. Educate consumers about the value and benefits of region’s consumers share similar characteristics, including being
sustainable products, emphasizing longterm cost savings highly digitally engaged and having a strong GenZ population
and environmental impact. that is used to playing with digital devices. These factors have
3. Make sustainable products accessible and affordable contributed to the emergence of a distinct ASEAN consumer unit
for a wider range of consumers through strategies such that is highly receptive to new trends and consumption patterns.
as bulk purchasing, discounts, and partnerships with Therefore, it is safe to say that there is a unit of consumption
retailers or e-commerce platforms. in ASEAN, which is shaped by a unique set of factors that
4. Address price sensitivity by implementing cost-efficient differentiate it from other regions in Asia.
and eco-friendly supply chain and production practices,
from raw materials to final packaging. EM: What would you say are the key consumption trends?
5. Accelerate sustainability efforts in regional and local MB: Consumption trends are rapidly changing in Asia, with
business operations, despite challenges such as low e-commerce accounting for 30-35% of total consumption
customer willingness to pay and short-term financial and projected to reach 50% in the coming years. Brands are
trade-offs. evolving to keep up with this shift and the logistics aspect of

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