FYI

Text100 releases APAC consumer electronics study

Tech PR agency Text100 has released a study on consumer attitudes towards electronics.

The announcement:

Sydney, 25 November 2013 – Two in every three Asia-Pacific shoppers has already done extensive research and decided which brand of consumer electronics product they will buy before they approach a point-of-sale – regardless of whether it’s online or offline, according to Text100’s Digital Index: APAC Consumer Electronics Study.

Based on more than 2,000 respondents in seven countries, the study specifically looked at three subsectors in the consumer electronics segment: smart devices and new technology; games, software and apps; and traditional electronics and home appliances. The study found that 68 per cent of Asia-Pacific consumers are likely to do all of their research on which product they want to purchase before heading to buy it.

Talk’s more than cheap – it’s priceless

Word-of-mouth remains the most influential source of information for consumers throughout the region – being referenced by one in two potential buyers of smart devices and wearable technologies – along with digital “equivalents” like online reviews and forums. However, retail outlets and the media retain significant sway over decisions at all stages of the buying process: both visits to bricks-and-mortar stores and traditional media sources were consulted by more than 40% of shoppers as they set out to buy traditional electronics and home appliances.

Purchase price, product specifications, and peer reviews ranked as the most sought-after information types across all product subsectors and stages of the buying journey, with almost 3 in every 4 consumers seeking out pricing information when they were intending to buy.

“Asia-Pacific consumers have now truly taken control over the decision-making process, dictating what information they expect from brands as well as where, and when they want it,” said Anne Costello, Text100’s Regional Director – Asia-Pacific.  “At the core, we’re still after the same things: price, facts, and validation from our peers that we’re making the right decision.

“But the age-old ways of getting this information, like word-of-mouth, have been dramatically remediated into a whole range of new channels, from social media sharing to blogs and self-declared experts both online and on the retail High Street. Building awareness of product is critical for today’s brands and they can only do so by mapping out an integrated, omni-channel communications strategy that’s consistent, credible, and relevant in the content that it offers.”

Moreover, the study showed that while people are more likely to give positive rather than negative comments/reviews, they are also much more likely to tell their friends/family about a positive/negative experience than post a link or write a review.

“If you deliver an experience that really recognises the customer for the individual they are, you’re much more likely to inspire positive recognition and advocacy in those all-important word-of-mouth circles,” said Costello. “Consumers want to share good experiences – and brands can provide them more often by taking the effort to talk to their customers, chart different buying personas, and investing in training staff to identify and deliver the most relevant advice for each one’s needs.”

Retail retains a foot in the door

The study also found that despite the dominance of online channels at the start of consumers’ decision-making process, bricks-and-mortar outlets remained a trusted source of information from initial research to purchase and beyond, with their function changing depending on where the consumer was in their buying journey.

Even younger consumers gravitated towards physical stores despite a higher-than-average reliance on online sources: when buying smart devices and wearable technology, for example, 48 per cent of 18-24 year olds consulted retail outlets at each stage of the purchasing process on average, only slightly less than the 53 per cent who referenced social media and other forms of online sharing.

“Brands no longer get to decide which channels they play in – it’s the consumer who’s in the driver’s seat, and their journey inevitably goes down myriad channels on the information highway,” said Costello. “If you want to succeed in this superfast consumer environment, you need to break down the prevailing silos of marketing and communications and weave together a compelling, unique story that completely integrates your paid, owned, earned and social platforms.”

“Consumers want to know that what they’re buying will suit their needs and can be trusted – which explains why hard facts and genuine recommendations, not celebrities and paid endorsements, ultimately carry the sale.”

The study also revealed several telling differences across different Asia-Pacific locations, including:

  • ·         Singaporean and Hong Kong consumers are the most price-sensitive;

  • ·         9 in 10 Chinese shoppers expect to buy smart devices in the next 12 months;

  • ·         In 40 per cent of Australian households, the husband or male partner assumes a major stake in deciding what to buy;

  • ·         Despite relatively low Internet penetration, 1 in every 2 consumers in India rely on online word-of-mouth (including social media sharing and peer reviews) when researching smart devices and wearable technology;

  • ·         Malaysian consumers feel compelled to give more reasons for purchases than those anywhere else in Asia-Pacific; and

  • ·         Taiwanese consumers are as likely to buy second-hand goods as brand new ones, across all types of consumer electronics.

Source: press release

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