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Understanding the Connected Southeast Asian Consumer

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Understanding the Connected Southeast Asian Consumer Mobile Marketing Handbook – SEA, 2020 Understanding The Connected Southeast Asian Consumer 2020 Mobile Marketing Handbook Mobile Marketing Handbook – SEA, 2020 Table of 02 03 Contents THE DIGITAL THE PARADIGM LANDSCAPE IN SHIFT WITH THE SEA CONNECTED CONSUMER • Understanding the • Mobile Commerce Connectivity Paradigm • Entertainment • The Booming Internet • Mobile Banking Economy • The Connected Consumer of 2020 04 05 WINNING THE CONNECTED THE 2020 VOICE OF THE CONSUMER: MOBILE 01 MARKETER MOMENTS OF TRUTH INTRODUCTION Mobile Marketing Handbook – SEA, 2020 Mobile Marketing Handbook – SEA, 2020 Foreword Southeast Asia witnessed a transformation like no other in the last decade. Punching above its weight, the region is home to one of the world’s most dynamic internet economies, offering convenience to consumers at an unprecedented scale. The average Southeast Asian user spends more than 74% of their time on their smartphones when compared to their American counterparts, making them a highly connected, highly mobile user base. This transformation led by the internet economy has been most significant in 3 key categories: mCommerce: With an explosion of home grown apps, Southeast’s commerce landscape has been redefined by the app economy. This has been further bolstered by the round the year demand driven by a diverse population. Entertainment: The region is fast emerging as a leader in both OTT Streaming Services and Gaming. Both regional and international heavyweights play a critical role in this ecosystem. mBanking: ASEAN has revolutionized the banking ecosystem, with apps solving for last VASUTA AGARWAL mile connectivity and infrastructure issues bringing on board a critically underbanked Managing Director, population. Asia Pacific As a part of our annual survey of marketers in Southeast Asia, we take a moment to understand not only the key challenges they face in an ever-shifting digital economy, but also the untapped opportunities that come with it. Keeping in mind the all compassing nature of smartphones, we discuss the emergence of a new phenomenon, the Mobile Moments of Truth. MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 Introduction Southeast Asia is one among the fastest growing regions across the globe, with its digital economy poised to achieve USD 300 Billion in the next 5 years. This phenomenal growth can largely be attributed towards the mobile revolution this region has witnessed, making way for multiple growth opportunities, fueling the rise of unique in-app ecosystems. This transformation is particularly prominent in three unique categories: mCommerce, Content, and mBanking. We examine the shift in these three distinct categories which have fundamentally altered consumer behavior in Southeast Asia. As consumer expectations begin to shift, both brands and advertisers understand that it is critical to rethink how they communicate with their customers. We speak to marketers across the region including industry leaders and understand their motivations and concerns as we step into the golden age of the connected Southeast Asian consumer. Disclaimer: This document was produced by and the opinions expressed are those of InMobi and other sources up to the current date of writing and are subject to change. It has been prepared solely for information purposes over a limited time period to provide a perspective on the market. Projected market and financial information, analyses and conclusions contained herein should not be construed as definitive forecasts or guarantees of future performance or results. There is no representation or warranty, either expressed or implied, as to the accuracy or completeness of the information in the report and shall not be liable for any loss arising from the use hereof. InMobi does not provide market analysis or financial projections. MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 Digital Landscape in South east Asia Mobile Marketing Handbook – SEA, 2020 61% GSMA Mobile Connectivity in 65 connectivity index 2018 69% Vietnam Internet Southeast Asia = Mobile penetration 68 Today, 90% of users in Southeast Asia access the internet primarily through their mobile devices. 61% Connectivity in this region has now Thailand become synonymous with mobile phones. 65 Given the fragmented geography of the region, mobile Philippines unites and connects everyone unlike previous 83% Cambodia technologies have. 66% Despite several traditional challenges, today the 67 region enjoys a high internet penetration. This has 61 been made possible primarily due to the fast dipping prices of both smartphones and mobile data. Malaysia Brunei 65% Southeast Asia leads in Internet 62 penetration and mobile connectivity Singapore 85% 65% 86 57 56 65 % 71 % 62 Indonesia Global SEA Source: eMarketer 2019 Mobile Marketing Handbook – SEA, 2020 Size of the 12 Internet Economy It’s a unique, booming (in USD billion) Vietnam Internet economy #5 in m-commerce The Southeast Asian Internet economy has reached 16 an important milestone. Valued at $100 billion in GMV across online travel, e-commerce, online media and ride-hailing sectors, it is expected to triple by 2025. Thailand #1 mobile 65 This growth is powered by the rapid adoption and banking increasing time spent on mobile Internet, and a willingness Cambodia Philippines to pay for online services and products. 66% 7 #8 in 11 #3 in ride- mobile hailing wallets Brunei SEA’s Internet Economy Malaysia 12 9x Indonesia Singapore #1 m-commerce #1 ride-hailing 40 Gross economy value (in USD) (in value economy Gross 2015 2019 2020 Source: We are social 2019, Google Temasek Bain & Company's eConomy SEA 2019 Report MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 The consumer force behind the UNITED STATES Internet economy SEA CHINA Smartphone 58.3 56 85 Southeast Asians spend most Penetration of their time on mobile, consuming content and making purchases. It is no surprise then that investors – both local and international, recognize Total App the potential and are eagerly taking Downloads (Bn), 3.5 2.0 3.0 significant steps to harness this Q2 2019 opportunity As consumers get digitally savvy, they Time Spent per day are displaying a higher propensity to try on mobile 4:10 3:19 2:24 new apps across different categories; internet (hh: mm) experimenting and aspiring for better things. With no dearth of options available to them, either at an app or brand level, impulsivity in shopping is Mobile Data Traffic rising while loyalty is on the decline. by Smartphone (GB/ 3:6 7:1 7 month), 2018 Source: Sensor Tower | eMarketer Mobile Marketing Handbook – SEA, 2020 % of population Defining the connected 62% Under 35 years 50% Vietnam % of m-commerce Southeast Asian 71% Internet users consumer 50% 61% Thailand 65 Cambodia Philippines 57% 55% Malaysia Brunei 54% 63 % 65 45% Singapore 58% 52% 76% SEA 52% Indonesia Source: eMarketer 2019, Nielsen – What’s next in SEA Mobile Marketing Handbook – SEA, 2020 Understanding the connected consumer persona MOBILE NATIVES, YOUNGER OMNI CHANNEL More than 60% are under the age of 35 90% come online through their mobile devices ALWAYS - ON ASPIRATIONAL 4 out of 10 high mobile usage countries are 72% of Southeast Asians Southeast Asian feel they can buy beyond their basic needs Mobile Marketing Handbook – SEA, 2020 MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 The Paradigm Shift with the Connected Consumer MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 Understanding the mobile era As the prices of smartphones plunge, and access to mobile data increases, the day to day behavior of the average consumer in Southeast Asia has dramatically shifted. Some of the most significant changes can be observed in the following spaces: M-Commerce Entertainment M-Banking $ Exploring the mobile Understanding new Decoding new age commerce opportunity age entertainment finance MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 Decoding the New-age M-commerce User Mobile Marketing Handbook – SEA, 2020 Exploring the mobile commerce opportunity Mobile commerce has created a definitive impact on how the average Southeast Asian shops today. With apps catering to users’ unique needs be it apparel, peer2peer, groceries, among countless other categories, consumer behavior has seen a dramatic shift, especially in the following areas: Money Transfer 14 68 9 63 Clothes 19 52 28 48 Cosmetics/ Skincare 14 48 Of Internet 17 46 Users in SEA Flights 30 45 63% 42 use M- 16 Commerce Footwear 19 39 23 38 Toys 19 33 15 30 Technology (TV/ Gaming) 26 33 19 30 Furniture 16 29 16 25 Of e-commerce 51% in SEA can be Mobile (%) PC (%) attributed to M- Commerce Source: Mobile Commerce Southeast Asia Twitter Insights 2019 Mobile Marketing Handbook – SEA, 2020 HIGH TRIALIBILITY With several apps on the market, each offering better prices than the other, users are now open to having multiple apps on the phone Defining the HIGH IMPULSIVITY As access to products have dramatically increased with the tap of a button, users are new-age now able to make purchase decisions at an increasingly shrinking speed - driving high m-commerce impulsivity User REDUCED BRAND LOYALTY Due to the availability of a wide variety of options and heightened impulsivity, users are no longer as brand-loyal as they used to be. Brands must now work hard to build brand loyalty by paying close attention the shifting needs of their customers. Mobile Marketing Handbook – SEA, 2020 The rise of the local apps The Southeast Asian mobile app ecosystem is dominated by local apps in categories of shopping, communication, ride-hailing and payments. However, among them all, very few have successfully managed to add more services to truly become Super Apps. The majority continue to offer a single service to their customers. 20 18 Go-Jek 16 Super Apps 14 Conglomerates 12 Niche Players 10 8 6 Tokopedia 4 Touch n Go ewallet 2 Grab SEA limited Lazada 0 OVO Michat 70 0 10 20 30 40 50 60 MAUs in millions MobileMobile Marketing Marketing Handbook Handbook ––SEA,SEA, 2020 Around the year demand, driven by diversity The cultural diversity of SEA creates a unique landscape for marketers and retailers in the region.
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