Gen Z – Engaging the future of SEA Economy
10 August 2021
Spire Indonesia’s Country Director, Indah Muliana, in an interview with Lazada Insider on how businesses can engage Gen Z. She discusses the spending trends and behaviours of Southeast Asia’s Gen Z that could impact business strategies.
Researchers, spenders, and joining the workforce currently, Generation Z ( born between 1996 – 2012) are tech savvy, multi-taskers and budding entrepreneurs.
Indah, an expert with over 14 years of experience in market environment analysis and extensive understanding of Southeast Asia (SEA) region, notes that not all Gen Zs in the region are similar. Those in Singapore plan for investments, while those in Malaysia and Vietnam gravitate towards leisure activities. Indonesian and Filipino Gen Zs spend their time and money on tech.
Gen Zs like to be prepared with online and offline research before making purchases. Indah explains that they like brands they can identify with, and value products which they believe can improve their lives. To capture the attention of the generation, businesses need to develop trustworthy values as Gen Zs are very aware of socio-economic parameters and the environment.
The pandemic has also made Gen Zs more concerned about financial security and healthcare. The recurring lockdowns and restrictions has made them think seriously about the future, with plans to put money towards savings.
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