The New ASEAN Consumer

Over the last decade, nations in Southeast Asia have experienced notable economic growth, fueled by robust local demand, rapid urbanization, an accelerated pace of digitalization, and the substantial expansion of the middle class. These factors have drawn significant foreign direct investment and are swiftly altering the landscape of the consumer market.

For example, the effects of the Covid pandemic have significantly raised environmental and sustainability consciousness among consumers in Southeast Asia. An increasing awareness of the environmental impact of their consumption has led consumers in the region to modify their purchasing behaviors and demand similar commitments from companies.

This whitepaper by Eurogroup Consulting, created in partnership with the French Trade Advisors for the CCE APAC 2023 forum, explores the post-Covid consumer trends that are influencing corporate strategies for capturing and retaining markets across the ASEAN (Association of Southeast Asian Nations) member states.

Our analysis explores several key areas:

  • The income disparities between developed and emerging markets within ASEAN
  • The key drivers of economic growth in ASEAN
  • The rise of a new generation of consumers in ASEAN
  • The pivotal role of the middle class in shaping consumer markets
  • The benefits of tailoring products and services to local ASEAN markets
  • How ASEAN retailers are adapting to digital changes
  • The growth of environmental movements within the ASEAN community
  • Strategic advice for incorporating these emerging trends into business strategies for Southeast Asia.

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