NEW NORMAL TRENDS AND DISCOVERING BUSINESS OPPORTUNITIES

As the business world slowly crawls back to normalcy, it’s the time for companies to rethink their growth strategy. The crisis presents a lot of untapped potentials to proactively innovate and find new ways to add value to your customers.

Discovering opportunities during challenging times

Dattel’s Consumer Intelligence team began 2020 with a study to see how the state of mind and priorities change over the course of the year in Indonesia, Malaysia and Thailand. Then, Dattel conducted a series of parallel longitudinal studies of COVID-19 since April 2020 to understand the “new normal” behaviours of ASEAN consumer by:

• Analysing consumer confidence based on financial and public health concerns
• Identifying the readiness of consumers to do out-of-home activities
• Correlating the activities done at home and willingness to do out-of-home activities
• Monitoring how consumer sentiment shapes up for the next three months

Based on these findings, we now have curated just the webinar that will give you great ideas to recognise opportunities or risk and generate growth by:

• Engaging the right customers
• Exploring short-term partnerships
• Innovating products or services

Join the discussion with Consumer Intelligence experts and drive takeaways that help your business mitigate the situation and discover actionable workarounds.

The abrupt shift in consumers’ behaviour due to COVID-19 outbreak has had a strong influence on the global economy that was already on a downward trend, leaving many consumer-facing businesses uncertain about how, or even if, they should respond to the changes. In the ASEAN region – home to some of the most sought-after emerging markets and highly dependent on global tourism, as well as domestic consumption – businesses are affected severely. In fact, GDP growth forecasts for Malaysia have been slashed by more than 2%, with further cuts expected; Bank of Thailand forecasted a contraction by 5.3%; Indonesia’s outlook has been revised down as well.

With so many shifts happening at an unprecedented rate, businesses simply do not have the necessary data that is up-to-date and comprehensive enough for them to pivot their business or marketing strategy. Moreover, the critical implementation of enforced quarantines has diminished the possibilities of companies conducting market research to collect the latest data on consumer behaviour & trends. To address this, Dattel has launched COVID-19 Insights Circle (CiC). This support group brings together like-minded industry players to discuss ideas collectively for fresh perspectives on how to react to the recent pandemic as we look through the data and insights together.

As the world grapples with COVID-19 outbreak, the business landscape has become extremely volatile. Consumers’ behaviour has become reactive to the intensity of the movement restrictions and the extensiveness of the pandemic, with no evident signs of the “new normal” yet. However, businesses need to know the key factors that are influencing consumers’ purchase decision and shaping the new behavioural trends to ensure sustainability.

Dattel’s Consumer Intelligence team began 2020 with a study to understand the state of mind of consumers across Indonesia, Malaysia and Thailand. Our goal was to see how their state of mind and priorities change over the course of the year. With the pandemic taking place, Dattel is conducting a series of parallel longitudinal studies of COVID-19 between April 2020 till July 2020 to understand the possible “new normal” behaviours of ASEAN consumers.