Premiumisation in Asia Pacific: Tracking a New Affluent Class

June 2018

The rise of Asia Pacific as the world’s leading consumer market is reshaping the way brands are approaching premiumisation as a strategy. While authenticity, affordable luxury and a durable emotional connection are vital elements in Asia, as they are everywhere, in other respects the region offers a wealth of new insights. In this report, Euromonitor International examines what premium means in the Asian context, distilling key points which can offer real value to any brand.

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The rise of Asia Pacific as the world’s leading consumer market is reshaping the way brands are approaching premiumisation as a strategy. While authenticity, affordable luxury and a durable emotional connection are vital elements in Asia, as they are everywhere, in other respects the region offers a wealth of new insights. In this report, Euromonitor International examines what premium means in the Asian context, distilling key points which can offer real value to any brand. 

Introduction

Key findings
How can we define premiumisation in Asia Pacific?

The Evolving Asian Consumer

Tracking the rise of the Asian consumer
Asian consumers more important than ever to premium brands
Asian affluent class to drive trends and demand for a generation
Asian consumers prioritising health, wellness and connectivity
The mobile-first era marches on in Asia
Japan offers a roadmap for premiumisation in a shifting world

Understanding Premiumisation in Asia

Six key paths to premiumisation in Asia
Asian consumers showing the world the future of premium retail
Xiaohongshu : the power of social shopping
Gentle Monster: Rethinking the store
Nexa: a premium service model for a premium brand
Brands look to local traditions to drive authentic message
Paluto : market-to-table comes to the supermarket
Siroca brings tradition and authenticity to rice cookers
Paper boat: packaging and updating traditional favourites
Culture, fashion and lifestyle as the new Asian export industries
History of Whoo: Korean history, traditions offer region-wide appeal
Roku: seasonal ingredients, Japanese craftsmanship
Chinese travellers drive growing Asian role in global travel
China’s independent travellers driving growth in customised travel
Vistara : bringing premium economy class to India
Foodservice drives indulgent, premium food and drink brands
Baek Mi Dang: craft, tradition and sharing drive sales
J Co Donuts and Coffee: Indonesia’s premium doughnut empire
Demographic shifts create demand for premium children’s brands
Natural Moony: targeting the “six wallets” for Japanese babies
Atopalm: a daily skin care regimen for toddlers

Conclusion

Premiumisation in Asia: what you need to know
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