The Knowledge to Decide

The global luxury industry is in a slowdown, thanks to China’s weakening economy, instability in the Middle East and decreased tourism in Europe – meaning only 1 percent year-on-year real growth in May 2016. But the face of luxury consumerism is changing as upstart brands show the way in terms of innovation and versatility. Diamond Foundry – a start-up based in San Francisco – creates lab-grown diamonds that are atomically similar to those found in nature. Tech CEOS and actors from Hollywood have invested in the company. This start-up aims to provide an ethical alternative to mining diamonds, an industry that is often associated with negative environmental and social impacts. Will innovation enable the luxury goods industry to adapt to a leaner economy? https://www.spireresearch.com/newsroom/spirethoughts/the-future-of-luxury-consumerism/

As more users explore e-shopping and e-payment options, retailers are transforming the online e-shopping experience in Indonesia. Jeffrey Bahar, Group Deputy Chief Executive Officer of the Spire Research and Consulting group, was honored to be a guest speaker at GATES Indonesia ICT Reseller Channel Summit 2017 on e-commerce opportunities in Indonesia. In his presentation, Bahar shared his insights on the growth of modern retail turnover in Indonesia, focusing on consumer trends and the e-payment eco-system. Bahar mentioned that the growth of modern retail for 2017 was 10%, contributing 5.4% to Gross Domestic Product (GDP). With 88.1 million internet users in 2016 (34% of Indonesia’s population), the number of Indonesian online shoppers grew from 7.4 million in 2015 to 8.7 million in 2016. Methods used to pay for on-demand services in 2016 were cash (69%), e-money via applications (28%) and credit cards (12.46%). Bahar’s presentation deck on “E-commerce in Ind

The mind has been compared to an iceberg. Many decisions are made in its unconscious recesses, beyond the reach of reason and consciousness. Will neuroscience help marketers and businesses connect with the subconscious mind of their audience? Should it? Though consumers are fairly conscious of their likes and dislikes, most of us do not know the factors influencing our decisions. With that in mind, neuroeconomics seeks to unlock the mystery and comprehend the hidden elements during decision-making. Marketers are now exploring this nascent field to measure subconscious cerebral data and use it to predict how consumers make choices. Neuro techniques can even help corporations better understand the dynamics of employee performance and nurture employee engagement. Entering the subconscious mind and taking a peek at the factors that influence our choices is not an easy feat. Two techniques have emerged: 1. lectroencephalography (EEG) Neuroscientists are using EEG t

Spire Research and Consulting was honored to participate in the GATES India ICT Reseller Summit 2016 as the content and research partner. The event was held in Bangalore from 4-6 October, 2016. The Summit is an initiative to provide a powerful business platform for consumer electronics and ICT brands to launch, develop and expand their network in the Indian sub-continent. Saurabh Sharma, Country Director for Spire Research and Consulting India, highlighted the findings of Spire’s survey to assess the experience of ICT customers and vendors for online and offline platforms in India. The survey focused on customers’ purchase habits, preferred price range and product preferences along with future mode of purchase. It also measured vendors’ selling habits, preferred price range and product preferences along with association with e-commerce platforms . The data was drawn from telephonic and online surveys conducted (in October 2016) across five metropolitan cities,

With growing regional integration and rising incomes, more Asian consumers are choosing Asian brands against foreign brands. Xiaomi, an Asian brand, outsold Apple in China in 2014 for the first time. Brunei based brand – Brunei Halal – recently opened stores in Malaysia targeting its Muslim population. The Indian government’s knowledge website initiative – known as Vikaspedia and offering content in 22 different local languages – is gaining ground. Taobao, Air Asia, Alipay, Huawei, Siam Cement, San Miguel, Tiger Beer and Indofood are other Asian brands that are on the march. They all hail from countries other than Japan, Korea and Taiwan, the traditional sources of Asian brands. Will more Asian brands take the leap to become global brands as the top Japanese and Korean brands have become? https://www.spireresearch.com/newsroom/spirethoughts/asian-consumers-embrace-local-brands/

400 million Chinese consumers make online purchases and China’s e-commerce market is set to reach USD1.57 trillion by 2018, making it the world’s largest. As smartphone penetration continues to surge in Asia, online retail is evolving. Will mobile commerce become the dominant mode for online purchases in Asia? Japnit Singh, Senior Director at Spire Research and Consulting, shared his insights in China Daily – Asia Weekly. China’s e-commerce retail sales in 2015 increased by 42.1% to reach USD672 billion. This is equivalent to over 40% of global e-commerce retail sales. As the online retail experience continues to evolve, more purchases are made using smartphones. Growth factors responsible for this e-commerce boom include the rise in demand for imported products due to rising incomes, new online platforms and initiatives by the government. Cross-border consumer e-commerce added up to about USD40 billion (in 2015) – more than 6% of China’s consumer e-commerce in total.

American food culture continues to grip Iran. Homegrown versions of many American food trendsetters can be seen – Mash Donald’s being a primary example. The U.S. and Iran share a complicated bond. As the Nuclear Deal worms its way to conclusion, the nation is feeling the effects of a renewed fascination for American consumerism. There are numerous look-alikes of original food-service brands operating in Iran – like Kabooki Fried Chicken, Pizza Hat and Burger House. There are currently no bona fide American food chains operating in Iran, thanks to the sanctions regime now in place. The Nuclear Deal might open a new market for American food-service franchises. Will American fast food take Iran by storm? https://www.spireresearch.com/newsroom/spirethoughts/american-food-culture-lures-iranian-consumers/