24 Dec 2019
Posted in Consumer
APAC brands enhancing products with new and exciting benefits to fulfil needs of demanding consumers, says GlobalData
As consumers are seeking products that meet not only their core expectations but also deliver unexpected, high-valued and exciting benefits (Ordinary to Extraordinary trend), brands in the Asia-Pacific (APAC) region are making every effort to create unique and innovative products to satisfy the requirements of the experimental consumers, says GlobalData, a leading data and analytics company.
GlobalData 2018 Q4 Consumer Survey reveals that 39% consumers in APAC are influenced by the ‘uniqueness’ of the product. In a scenario where the intensity of competition across consumer goods categories is growing, it is imperative for brands to quickly respond to a rapidly changing buying behavior and focus on product differentiation.
According to GlobalData’s report, ‘TrendSights – Sensory & Indulgence: Ordinary To Extraordinary’, manufacturers need to identify the core benefits of their product and its associated mega-trend, then supplement the product proposition with features that tap into other mega-trends.
Shagun Sachdeva, Consumer Insights Analyst at GlobalData, says: “From a brand perspective, consumer inclination to experiment presents valuable opportunities for manufacturers to attract them with new and appealing features to encourage brand switching and experimentation. This is creating an innovation landscape whereby products are being continually expanded and improved beyond their expected and core benefits to outdo their competitors.”
Brands are already going beyond consumer expectations to offer something more than just the ordinary and supplementing core product benefits with additional features that enhance the perceived value of the product.
For instance, Indian mineral water brand ‘Himalayan Sparkling’ came up with a packaging innovation in form of ‘sound cap’ that plays the sound of wind from the Himalayas when it is twist-opened, thus creating an immersive and a unique sensorial experience for the consumers.
Sachdeva concludes: “In APAC, the Ordinary to Extraordinary trend is more relevant in personal care, household care and baby products. For instance, Trans-Tasmanian brand Cold Power Clean & Smooth detergent offers laundry detergent features a new formula with a special ingredient that works during the wash to make ironing easier. In addition, department store franchise Shinsegae has launched Stonebrick in South Korea as a make-up system with a modular packaging format to maximize the portability of cosmetics products that is reminiscent of Lego to attract young trend-savvy consumers.”