Follow three major needs to gain customers
Cathy Cheng, Group Account Director of Kantar World-panel Division gave a speech on Taiwanese consumer livelihood spending trends at the 2019 "Future 100" event held by J. Walter Thompson on March 27th. As an expert and long-term observer of consumer buying behavior, she put forward the three major needs that Taiwanese consumers require from the products they buy as: "convenience", “captivation" and "health".
"Convenience" is reflected in the purchase of instant noodles, frozen foods, hotpot seasonings to cook at home for a convenient and delicious meal, and in the purchase of a large number of products (such as diapers, toilet paper and laundry detergent) from online stores that can be delivered to consumers’ home directly. In addition, it is also obviously seen through the diversified sales channel situation in Taiwan. After a large number of small stores have been released by various channels, Taiwan’s distribution intensity is the highest in the world, and it has developed a “brick and mortar e-commerce” model that is different from other countries. After orders are placed on the APP, the goods can be picked up from neighboring stores and this improves purchasing efficiency
“Captivation” is referring to the large number of needs created by the Internet era. For example: taking photos to share various new products or special consumer experience, and increasing the exposure of brand channel manufacturers through creating hot topics. The “hidden” demand of consumers is the happiness and healing feeling brought by sharing and the products. Cathy also pointed out that some supermarkets have launched in shops, pop-up shops, Costco offline exclusive products and Black Friday, etc., they are all channel strategies created according to the principal of "captivation."
The various food safety incidents and also fitness trends have drawn consumers’ attention to "health and beauty”, not only to the quality of all kinds of foods and products, but also life style benefits. In this regard, various hypermarkets and convenience stores have added multi-functional rest and coffee areas to enhance customer experience, they are trying to make the store a part of consumers’ community. Department stores are trying to increase the number of visitors with better catering quality. Personal care stores are sponsoring outdoor parties in order to bring brands closer to young people.
Kantar Worldpanel has long been focusing on the buying and using behavior of consumers, and has summarized "convenience", "captivation" and "health" as the three major consumers’ needs in Taiwan. As the competition among products and channels gets fiercer in the marketplace, let’s see how brands and channel providers can work their magic to link these needs to their product advantages, and come up with words that can impress consumers in order to stand out in the ever-changing market.