Published on 27 March 2020 in Press Releases
27 March 2020, SINGAPORE: As the World Health Organisation (WHO) had declared the novel coronavirus a global pandemic and enforced quarantines as well as travel restrictions, Dattel has launched COVID-19 Insights Circle (CiC). This support group brings together industry players to discuss ideas collectively for fresh perspectives on how to react to the possible “new normal” behaviours of ASEAN consumers due to the recent coronavirus outbreak that has impacted many lives and businesses around the world.
The abrupt shift in consumers’ behaviour due to the pandemic 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. At the time of release, 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.
Besides that, Dattel aims to harness the engagements from COVID-19 Insights Circle to enrich its research on consumers’ behaviour and sentiment toward COVID-19 impact that will be done in parallel with Dattel’s Holistic Consumer research with curated consumer cohorts in Indonesia, Malaysia & Thailand. The ability to conduct parallel longitudinal studies from single-source is crucial because it allows us to overlay multiple datasets for more in-depth analysis.
The COVID-19 study can be analysed against the Individual Priority datasets and consumer lifestyle data across 10 different verticals to track the behavioural shifts holistically throughout the pandemic. With such actionable data, Dattel hopes to help businesses to discover the “new normal” behaviours of ASEAN consumers to remain relevant and stay ahead of the market.
Moreover, the study will also track the changes in consumer behaviour before, during and after the coronavirus outbreak to identify emerging or disappearing trends while at the same time trying to decipher the consumer psyche and impact on their well-being throughout COVID-19 lifecycle.
As the leading Consumer Intelligence company in ASEAN, we believe in the network of sharing, hence the introduction of “COVID-19 Insights Circle”. It is designed to collectively understand the possible “new normal” so that businesses can ride the wave of recovery in a timely and appropriate manner.Ashran Dato’ Ghazi
Chief Executive Officer, Dattel
With the first report expected to be published in end-April 2020, Dattel hopes these studies will serve as an early warning system and be able to empower companies with the necessary information to better plan their strategies at the speed of business.
Besides access to the reports, members of COVID-19 Insights Circle will also have the first-hand access to key findings, webinars and professional data support. Those interested can join CiC here and be able to discover the “new normal” behaviours of ASEAN consumers post-coronavirus outbreak.