More Middle Eastern consumers are looking for brands that align with their values, for example local sourcing and sustainability. In an age of social media, consumers are looking beyond pricing when making drink brand choices, and seeking those brands that resonate more with their values.
Travel finance is an important component, impacting overall customer satisfaction across travel verticals. Analysis in this article focuses on embedded finance in travel intermediaries, lodging, shopping, and food and dining, ranked the top four verticals by market value size in 2023.
Mobility brands are looking at novel ways to interact with customers along their journey, as well as enhance consumers’ lifetime value. China’s Electric Vehicle (EV) player NIO is shifting away from a traditional dealership model and embracing the user operations model for client acquisition, building its own strong community of “super fans” to help drive customer loyalty.
Long-term megatrends such as sustainability and wellness were predictably visible at the Inspired Home Show, with rising messaging for durability, recyclability and energy saving. Of more immediate interest were three lifestyle trends directly impacting growth opportunities and product choices in 2024.
The global economic outlook continues to improve, as easing inflation, improved supply conditions and strong labour markets in advanced economies support real income gains, consumer spending and other economic activities in the first quarter of 2024.
Despite slowing growth, EVs are still expected to become more widespread as governments promote sustainable mobility, but this requires financial development throughout the customer journey.
Since its launch in Southeast Asia in 2018, Buy Now Pay Later (BNPL) has experienced a notable surge in popularity, providing consumers with a convenient and accessible alternative to traditional financial services. This service enables consumers to defer payment for their purchases, typically opting for instalment-based repayment options instead of immediate full payment.
In 2023, companies were putting a brighter spotlight on consumers’ needs and wants, in order to compete effectively and grow in the future. Voice of the Industry Survey 2023 (fielded August to November 2023) revealed that over 40% of the respondents identified enhancing consumer experience, fostering consistency in brand interactions, and becoming consumer-centric as pivotal commerce-specific developments.