The conscious consumer in APAC, Lunar New Year food and drink and community inclusion. That and more on today’s episode.
Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s Executive Editorial Director Bethan Ryder takes us to Singapore and São Paulo to leverage the local expertise of our teams for your questions.
Watch the full episode below or read on for highlights of this episode:
Q: How is the conscious consumer different in APAC compared to Western markets?
“APAC consumers are just as environmentally minded as their Western counterparts. But unlike those in the West, they are concerned with immediate issues in their day-to-day life, such as food safety as well as air and water pollution. They are also critically minded consumers whose purchases are driven by accurate information. According to Bain & Company, 90% are willing to spend a premium on sustainability products, but don’t buy these goods due to a lack of information or the fact that they don’t trust claims of sustainability.”
– Alison Ho, Analyst, WGSN Insight
Q: With Lunar New Year being celebrated more widely, what are some emerging food and drink trends that will impact celebrations for 2024’s Year of the Dragon?
“In 2024, consumers will lean on convenient shortcuts, such as new frozen formats and meal kits that help streamline cooking. These let celebrants expand their creativity and cook up festive fusion dishes inspired by third-culture cuisine. Symbolic fish dishes will be reimagined with sustainable alternatives, while RTDs will feature layered flavours rooted in Asian heritage.”
– Rachel Tan, Strategist, WGSN Food & Drink
Q: How can brands and businesses be a relevant part of communities?
“Consumers are increasingly driven towards communities to explore new ways of social interaction. Be it connected by technology or IRL, the need of developing more meaningful connections has pushed for mutual and intimate arrangements. Brands and businesses must invest in getting to know their consumers and building trust among them. Being transparent in their intentions and offering safe spaces where those relationships can be built will help them become active community members.”
– Gabriel Tavares, Consultant, WGSN Mindset