Cimigo - Consumers in Mobile & Digital World
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Cimigo - Consumers in Mobile & Digital World

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Updates on the Macro Retail Environment - The changing digital landscape in Asia

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Cimigo - Consumers in Mobile & Digital World Presentation Transcript

  • 1. Updates on the Macro Retail Environment
  • 2. The Confidence Index remains steady in 2013 – with some softening since Q4 last year J.P. Morgan Investor Confidence Index 200 180 160 140 120 118 110 105 123 118 103 109 117 116 116 100 80 60 40 20 Year 2011 Year 2012 Year 2013 0 Q2 Q3 Q4 Source: Cimigo JP Morgan Survey 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3
  • 3. Concerns of HK consumers… Perceived biggest risks in 2013 1. Cool-down of HK stock market 56% 2. Cool-down of HK property market 38% 3. Slowdown of China economic growth 38% 4. Uncertainties of China economic reform 37% 5. Rising commodity prices 30% 6. European debt crisis 30% … Source: Cimigo JP Morgan Survey 2013 4
  • 4. HK – Smartphone penetration at 64% in 2013, ranked 8th globally, with a steady uplift 2011: 35% 2012: 49% 74 73 % Source: Google Mobile Survey 2013 73 72 68 65 63 63 62 59
  • 5. Can’t live … • without you • 82% use everyday in the past week 77% don’t leave home without their device (!) Smartphone is always on - 96% use mobile internet daily • 95% use at home, 87% on the go, 77% Everything is in real time, easily accessible. It just bogs you down. Now with smartphones you can work wherever and whenever. You can access email everywhere and you have to work even more. (Female, 28, Hong Kong) Source: Google Mobile Survey 2013 Cimigo Digital in Asia 2012 at store
  • 6. 62% HK people search information on smartphone daily
  • 7. 66% 56% 40% 36% Restaurants, bars, pubs food Travels, flights play Job hunting, opportunities work Property information investment Source: Google Mobile Survey 2013
  • 8. 64% of investors are bank app users general account transaction, credit card application, investment product acquirement, non life insurance, stock / FX market information Even banking services are migrating to mobile … Source: Cimigo HKIB Survey 2013
  • 9. Well, even dating 20 top dating apps combined 17 million active users Meet Moi Source: Flurry Survey 2013
  • 10. … as well as raising our children!
  • 11. … going beyond just searching, the mobile device has enabled real actions in life visit shop buy tell 86% take action taken after mobile search … 51% would go for purchase on computer after mobile search 47% would go for visit/ purchase at the store Source: Google Mobile Survey 2013
  • 12. … mobile is also transforming people’s buying experience & shopping journey While shoppers are wandering the store … 43% use mobile to read reviews while in store $$$ 31% use mobile to compare price 38% Source: Campaign 2013 interested in redeeming mobile coupons 31% would like a mobile app to help them navigate around 30% want to receive mobile coupon when passing a product 36% interested in scanning bar code for information
  • 13. Rapid development of innovative retail payment products and services Card payment Mobile payment Internet payment
  • 14. Creating Buzz Results • 6.5 million views on YouTube • 50,000 requests for information about the vehicle, primarily from non-Ford drivers • Some 10,000 cars sold in the first six days
  • 15. … introducing mobile application for highly accessible information – real time queuing time, descriptions of the haunted houses, event maps, show time, social media plug in, and more
  • 16. But wait, is this all what our consumers want?
  • 17. How many apps are on your smartphone? Hong Kong people says, • 39 on average • in which 10 are paid apps (!) Second most after Korea (40 apps) Source: Google Mobile Survey 2013
  • 18. Yet honestly ... how many are active – you say? How long the recent heat of Bitstrips may sustain – you bet?
  • 19. 38% of HK consumers feel overwhelmed by the sheer volume of communication they received from a brand STOP 48% IGNORE 41% Frustrated 23% Source: Experian Survey 2012 stopped engaging with four or more brands as a result of poorly targeted communication Ignore emails or social media messages send by brands Considered not being able to unsubscribe / being bombarded by online materials as No.1 Frustration
  • 20. From digital fascination to fatigue Everyone is on their phones, doing their own thing. It’s like being physically there but not mentally there. (Male, 35, Singapore) I have less time for myself nowadays! (Female, 32, Singapore)
  • 21. Emerging frustrations and resentment I love instant access, convenience, sharing, feeling connected. But I’m lost. I can’t make decisions anymore. I’m getting confused. I feel alone. (Male, 33, Singapore)
  • 22. Greater control It’s also a double-edged notion: especially in emerged Asian markets (Singapore, Hong Kong), people try to re-establish control over chaotic digital lifestyles and information overload. They de-clutter. They use fewer apps or social media. They turn off their devices, and wean themselves off Facebook.
  • 23. It’s an art Balance。 。 Relevancy 。 Creativity