Analysis of Modern Consumer Behavior Among Gen Z in Four Asian Countries

Understanding Gen Z Consumer Behavior in Asia

In a rapidly changing economic landscape driven by growth and digitalization, SVP Japan conducted an in-depth analysis of consumer behaviors among Generation Z (Gen Z) in four Asian countries: China, South Korea, Indonesia, and Vietnam. This report aims to summarize the unique characteristics of Gen Z spending habits and juxtapose them with their counterparts in Japan.

Research Objectives

The primary goal of this study is to investigate the consumer behavior of Gen Z in the aforementioned countries while drawing comparisons with the Japanese Gen Z. By focusing on spending patterns and consumption attitudes, the analysis aims to provide a comprehensive overview of this demographic segment.

Key Findings

Overall Increase in Consumer Spending

Across all five countries examined, there is a noticeable upward trend in consumer expenditure. This increase highlights a shift in consumer attitudes despite challenging economic conditions.

Distinct Consumption Mindset Between Emerging Nations and Japan/South Korea

One of the critical insights from the research indicates a marked difference in consumption behavior between emerging countries and established economies such as Japan and South Korea. In emerging economies like Indonesia and Vietnam, rising costs and economic uncertainties have led to a stronger inclination towards frugality. These countries exhibit a clear strategy of household defense against economic fluctuations.

Conversely, while consumers in China show some degree of savings mindset, a substantial portion is still eager to maintain and even expand their spending. This contrasts sharply with Japan and South Korea, where nearly half of the respondents indicated no plans to change their spending habits. This cautious consumer stance persists, reflecting a prioritization of stable living conditions over consumption expansion.

Consumption Trends in Japan and South Korea

In Japan and South Korea, the desire to save is not as pronounced as in emerging economies; however, a cautious approach to spending remains prevalent. The inclination towards stable life maintenance has become increasingly evident, with limited aspirations for consumption growth.

Structure of the Report

- Trends in Consumer Spending
- Awareness of Consumption Costs
- Factors Influencing Purchase Decisions
- Important Information Sources and Buying Methods
- Future Consumption Intentions
- Unique Consumption Behaviors of Gen Z in Each Country
- Recommendations for Enterprises
- Conclusion

Recommendations for Businesses

The report concludes that businesses must adapt to the changing landscape of consumer behavior. It emphasizes the need for strategic approaches in marketing and product development to cater to the distinct preferences of Gen Z across these countries. To gain further insights and detailed recommendations, readers are encouraged to refer to the full report.

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About SVP Japan

SVP Japan is a provider of membership-based business information services, dedicated to making impactful business insights more accessible. Founded in 1974, the company operates as part of a global network spanning 40 countries, supporting major corporations through data-driven decision-making. In 2021, SVP underwent a rejuvenation of its governance and service provisions, embarking on a renewed mission to adapt to evolving business environments and client needs.