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Haikal is a Senior Research Analyst at Euromonitor International.
Haikal is part of the research team in Singapore that handles home and tech research and client engagements. His focus is on home and tech industries, connecting with clients to share insights of industries such as home and garden.
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.
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.
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.