Eastern Online Consumer Research Group analyzed Taiwanese consumer behavior data from January 2021. They found that about 25% of consumers perceived the economy as poor compared to the previous month, and 31% expected a negative economic outlook over the next 2-3 months. However, 55% expected to increase spending for Lunar New Year. Subscription to streaming services exceeded 20% for the first time, and over 20% of households likely use these services. Podcast listening continues to steadily grow in Taiwan, with the profile of listeners becoming more diverse. The report provides suggestions for marketing, including leveraging popular streaming content and focusing on brand awareness.
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TW Consumer Behavior Snapshot Jan 2021
1. Eastern Online Consumer Research Group / Marketing Department
7F, No. 306, Sec. 4, Xinyi Rd., Daan Dist., Taipei City
Released on Feb. 02, 2021
Snapshot
of TW Consumer Behaviors of Jan. 2021
2. Agenda
1. Analysis and interpretation of TW consumer data of January 2021
• What would be the change in TW economic perception of consumers as the pandemic slightly
rises? The Lunar New Year is around the corner, consumers are a little hesitant about their
expenditures in this month because of the mindset of expected spending in next month...
2. Tracking Survey to Consumer Behaviors
• Monthly tracking surveys, grasps the latest market trends
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8. Suggestions for Marketing of this Month
• The Lunar New Year is around the Corner, and the Expected Expenditures Restrict the Current Consumption
• New Household Cleaning Products are Attracting More Attention: Traditionally, it is the hot season for sales of household
cleaning products prior to the Lunar New Year. TW Consumers in the past preferring cleaning products with time and labor-
saving effects, may NOW pay more attention to products with effective cleaning and antibacterial features due to the impact of
the pandemic. While the consumer demands are shifting, brands which are less familiar to consumers also have the
opportunity to be more exposed to the general public.
• Low Level of Shopping Desire Continues: In addition to the impact of the pandemic, consumers currently have low level of
shopping desire because of the expected higher expenditure in next month (i.e. the Lunar New Year). Hence, even
consumer’s attention to shopping-related information is increasing, the actual CVR of ads may be rather limited.
【Suggestions】
1. Seize long-term (like one Quarter) Market Share of Household Consumption: In order to face the competition from new
brands of household cleaning products and maintain the business operation under the pandemic, brands that are familiar to
the consumers need to introduce products with large/multiple-unit package to cover the subsequent household consumption
needs as well as evading the direct competition with other newly emerging brands.
2. The Sense of Rituals: Because TW consumers would in advance arrange their expenditure contents for the Lunar New Year
period, the products with certain package design (surprise grab bags, lucky goodies, and lucky charms, etc.) triggering the
“festive sense” of TW consumers could be introduced to enrich the festive atmosphere of the Lunar New Year.
3. Brand Awareness Marketing: In addition to Lunar New Year-related products (such as gifts and fresh fruits and vegetables
for ritual worshiping), the advertising budget of other types of products can be directed toward brand awareness and brand
image establishment, or the pre-planning for mid-year anniversary celebrations. However, it is required to pay attention to the
sign of low level of consumer confidence to the economic performance in the future 2-3 months.
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9. Suggestions for Marketing of this Month (cont’d)
• New Peak of Streaming Services Subscription Makes Easier Grasp of Sources Generating Common Topics
• As of Jan. 2021, more than 20% of the respondents have subscribed streaming services, an increase of 7% compared to the same
period of last year. Since there were hot and popular common topics such as “Crash Landing on You” and “Itaewon Class” (Korea
Series published on Netflix) under the subscription level of last year, it is bound to be easier to generate common topics under the
current subscription level.
• 【Suggestion】
Grasp the Topics to Generate Popularity and Relevant Derivative Products: Leverage the hot popular film and series topics to
create greater social media popularity and the possibility of viral marketing. The peak number of video streaming services subscriptions
would assist marketing staff to more easily grasp the main discussions of the current online community, and introduce related products
and marketing terms to generate more business opportunities.
• The Five Major Elements of Podcast Development and the Ideas toward “Overall Marketing Effect” Assessment:
• There are five elements that shall be focused on for the subsequent growth of Podcast demands: 1. Users: The appealers
who can attract new audiences; 2. Content Creators/Owners: The transfer of media budgets to consolidate the viability of content
production in the industrial chain; 3. Platforms: Effective data feedback and profit distribution model; 4. Regulatory Aspects:
Awareness to laws and regulations that may restrict the development of the industry; and 5. Equipment: Market penetration rate of
wireless headsets
• 【Suggestion】
Jump Out of the Box of Stereotypes of New Media: The advertising effectiveness of Podcast is still not easy to be shown comparing
to other new media KPIs of the past. For the communication with brand owners, the assessment to the overall brand effectiveness
improvement before and after the proposed marketing campaign shall be implemented rather than the evaluation to CVR of each single
media.
9
10. Longitudinal Survey to
Consuming Behaviors
Eastern Online Consumer Research Group / Marketing Department
7F, No. 306, Sec. 4, Xinyi Rd., Daan Dist., Taipei City
15. EOL Group is the largest local market research agency in Taiwan, and has EOL iSURVEY, EOLembrain, and EOL
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3
20. Thank You
Do not cite, distribute, reprint, copy, and/or reproduce any and/or all parts of the
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Marketing Manager Joce Yang #816
Deputy Director Ethan Yang #812
【Contacts for Business Cooperation】---------------------------------------------------
VGM Amanda Li #806 Email:amanda@isurvey.com.tw
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Eastern Online Co., Ltd.,7F., No. 306, Sec. 4, Xinyi Rd., Daan Dist., Taipei City, Taiwan