Exploring Consumer Behavior Trends Among Generation Z in Asia

SVP's Consumer Behavior Report on Generation Z in Asia

On July 17th, SVP Japan, a premier member-based market research service, unveiled detailed findings from their latest investigation titled "Analysis of Contemporary Consumer Behavior: Focus on Generation Z in Four Asian Countries." This research targets Generation Z individuals in rapidly developing nations in Asia, specifically China, South Korea, Indonesia, and Vietnam. In this report, a particular emphasis is placed on the trends observed within Indonesia's youth.

Purpose of the Research

With notable differences in values and lifestyles across generations, consumer behaviors have diversified significantly. Generation Z, in particular, has emerged as a focal point in global consumerism, with its influence steadily proliferating beyond Japan and into various countries. This research sets out to delineate common consumer trends among Generation Z across the four Asian nations, while also highlighting the unique factors that differentiate them.

Research Overview

The report is structured into the following sections:

- Research Summary
- Analysis Topics:

- Trends in Consumer Spending
- Transition to Lower-Priced Products
- Factors Influencing Purchase Decisions
- Sources of Information and Purchase Channels
- Consumer Intentions
- Discussion

- Results from the Questionnaire (comprising 10 questions)

Key Findings

Significant Increase in Consumer Spending

Over the past year, consumer expenditure has seen a considerable rise, particularly in sectors such as groceries and experiences that enhance personal development. This indicates that Generation Z is prioritizing investments not only in tangible goods but also in self-improvement opportunities.

Price Sensitivity Remains High

Although spending has expanded, the tendency to switch to lower-priced alternatives is surprisingly high, indicating a pronounced sensitivity to pricing among this demographic. This highlights an intriguing dichotomy: while Generation Z may be willing to spend on experiences, they remain cautious when it comes to everyday commodities.

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About SVP Japan

Founded in 1974 and based in the Chuo Ward of Tokyo, SVP Japan provides essential business intelligence services with the mission of making critical business knowledge easily accessible. Serving as a support system for decision-making among member companies, SVP has developed an extensive network across 40 countries, focusing on empowering large corporations with actionable insights.

In 2021, SVP revamped its management structure for improved governance and broadened information services, marking a new chapter in its legacy.