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Socio-Economic Trends Drive Consumer Electronics Spending in Asia Pacific

May 2013

This report examines major socio-economic trends like urbanisation and wealth migration, and spending preferences with regards to consumer electronics in households in emerging markets in Asia Pacific. There is a shift in spending priorities away from products for communal content consumption, like televisions, to products like smartphones, designed for individual use

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Urbanisation of societies in emerging markets continues

Urbanisation is likely to continue in all emerging markets, but population migration to the largest cities in these markets will slow compared to the review period, as these large urban centres have grown too rapidly, straining infrastructure and limiting employment opportunities for migrants.

Economic development is concentrated in the largest metropolitan areas

While urban population expansion is likely to be the fastest in smaller cities, large metropolitan areas will be in the best position to take advantage of economic development, resulting in faster income growth rates compared to smaller cities and rural areas.

Household in emerging markets are becoming smaller, with fewer children

Urbanisation and wealth migration, combined with other factors, like rising female employment, will reshape social and household structures in emerging markets in Asia to resemble those of developed Western markets. This means more but smaller households, with fewer children born to older parents.

Spending priorities are shifting towards individual products

With these shifts, spending priorities will continue to shift away from products designed to be used by a group to products geared towards individual use, like smartphones and portable computers, demand for which is expected to grow dynamically over the forecast period.

Impact on in-home electronics varies by country

Conversely, growth in demand for televisions, video players and home audio and cinema will be considerably slower, as spending on group and family-oriented products and content will become less of a priority for a growing number of households in emerging markets in Asia Pacific.

Introduction

Scope
Key findings

Growing Importance of Asia Pacific

Consumer electronics growth slows
Pendulum shift to Asia Pacific

Urbanisation and Wealth Migration

Urbanisation gives way to income migration
Wealth migration in large metropolitan areas
Asian markets edging closer to Western demographics
Asian markets edging closer to Western demographics

Shifting Spending Priorities

Shifting spending priorities
The pace of cross-category shifts highly variable by country
Low cost devices drive growth
Content distribution access: Difference for in-home
Smart TV: Near universal popularity

Impact on Consumer Electronics

Implications for retail value sales
Shifting product mix in home audio and cinema

Conclusion

Irreversible trends with profound impact

Report Definitions

Data parameters and report definitions
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