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Servitization: Boosting Revenue and Customer Loyalty in Appliances
Tim Chuah
Servitization is a business model that involves companies selling products and providing additional services to customers. The move towards servitization will enable companies to enhance customer interactions through extensive value-added services. For the appliances industry, the potential returns are immense.
Emerging Brands Disrupt Consumer Electronics: Lessons from India for Other Emerging Markets
Loo Wee Teck
New Indian brands like Noise and Fire-Boltt dominate consumer electronics in India with affordable but feature-rich products. This trend of affordable indulgence is reshaping consumer behaviour, with India's TWS earbuds and activity wearables market projected to reach USD8.2 billion by 2029.
Megatrends: Quantifying Digital Living
Tim Chuah
Digital Living is among the largest megatrends driving consumer behaviour, second behind only Convenience. To quantify the impact of Digital Living and other megatrends on consumers, Euromonitor International has created a quantification model to assess the impact of these long-term trends.
Top Three Trends in Households
Euromonitor International
Households are undergoing significant transformations globally, influenced by the shifts in demographics, economics, and technology. With ageing populations and smaller household sizes becoming more prevalent, there is growing demand for personalised products and services that cater to individual needs. Consumers are particularly interested in devices and appliances that enhance connectivity and offer convenience in their daily lives, reflecting a broader trend towards customisation and efficiency in consumer preferences.
Safety Concerns Mount as Chinese Cross-Border E-Commerce Sales Surge in South Korea
Chloe Bang
In South Korea, cross-border e-commerce sales into the country are rapidly increasing across product categories from home care to small appliances. This is due primarily to the growing popularity of Chinese-affiliated e-commerce marketplace platforms, which are winning adherents thanks to their offer of sometimes shockingly low prices.
Top Three Megatrends Shaping Asia Pacific by 2032
Rachel He
Technology breakthrough especially in AI, lifestyle changes after the pandemic, and the rise of Gen Z have been driving Digital Living, Shopper Reinvented and Personalisation in Asia Pacific. Euromonitor has identified these megatrends as the top three influential ones transforming the region’s future towards 2032. Truly engaging, customised and responsible customer relationships and shopping experience should be prioritised by businesses in order to grow.