In a bid to delve into the evolving landscape of consumer behavior, TikTok for Business has partnered with Accenture to unveil its latest report, “Shoppertainment 2023: Next-Gen Commerce and Consumer Insights in APAC.” The report, which extensively investigates consumer trends in five key markets in the Asia-Pacific region—Indonesia, Japan, South Korea, Thailand, and Vietnam—provides comprehensive insights into the future of consumer purchasing behavior, preferences, and expectations towards brands.
Image source: TikTok for Business
Contents
Shift from Price to Value in Consumer Decision-Making
The research has brought to light a significant shift in consumer decision-making processes. Notably, 79% of consumers in the Asia-Pacific region are influenced by “content unrelated to discounts,” indicating a departure from the conventional emphasis on “discounts and promotional information.” Only a mere 21% of consumers remain highly sensitive to offers and discounts.
Various content types, including product information, reviews, demonstrations, and visual elements, hold substantial value at different stages of the decision-making process. Consumer interests are increasingly transitioning from a focus on “price and promotions” to a more profound emphasis on “value.”
Market-specific Trends: Social-oriented vs. Product-oriented
Distinct consumer trends have emerged in the APAC markets, categorized into “socially oriented” and “product-oriented.”
- Social-oriented markets such as Thailand, Vietnam, and South Korea witness consumers placing trust in reviews and recommendations from creators. They evaluate content based on emotions and intuition, often making decisions without extensive additional information.
- On the other hand, product-oriented markets like Japan and Indonesia prioritize detailed product information and attractive offers over who recommends or reviews the product.
Seamless and Informed Purchase Decisions
Consumers in the APAC region seek integrated platforms that allow them to discover, browse, and purchase products without switching between devices, platforms, or apps. A staggering 93% of consumers express the desire to continue or increase their use of integrated platforms for product discovery, consideration, and purchase in the next 1-2 years.
The prevalence of content-driven video platforms like TikTok has resulted in a 1.9x increase in consumers regularly searching for products compared to traditional search engines, indicating a growing trend towards dynamic and engaging platforms.
Rising Influence of “Content Communities”
Content communities, defined as networks facilitating the exchange and sharing of information related to brands and products, are gaining significant influence. A notable 48% of consumers are influenced by content communities, while brand influence remains at 22%.
On content-driven video platforms, personalized “recommended viewing” is delivered to consumers through hashtags, trends, and comments rather than actively searching for products. Additionally, 73% of consumers actively participate in content co-creation through trends, hashtags, challenges, and comments, fostering a dynamic interaction between consumers and brands.
Data source: TikTok for Business
