Consumer insights and trends seminar open for registration
Singapore
CONSUMERS in emerging countries are more receptive to innovation and disruption than those in developed countries - and yet, bigger marketing budgets are being thrown into media buys and product launches in developed countries.
This paradox, it would seem, cries out for a rethink of marketing investments and strategies in emerging markets, said Garick Kea, Nielsen Singapore's director of consumer insights.
He was giving The Business Times his comments on the findings of a recent Nielsen survey, the Volatility, Uncertainty, Complexity & Ambiguity, or VUCA survey.
The study also found Singapore consumers to be one of the most highly wired, owning an average of 3.7 connected devices, against the 3.2 average in developed countries.
The VUCA study was done in the second quarter of this year across 10 markets, including China, Japan, Australia, India and Indonesia.
Such insights and others on consumer trends and projections will be the focus at this year's Outlook 2019 Seminar for small and medium-sized enterprises (SMEs), to be held at Marina Bay Sands on Nov 15-16.
The annual event will also include discussions on the economic outlook, possible geopolitical developments and ideas on how to engage the evolving consumer.
The seminar, organised by The Business Times, is to be held over two half-days.
The accent is on B2B (business-to-business) issues on Day 1 and on B2C (business-to-consumer) issues on Day 2.
Besides Mr Kea, the other speakers include the dean of the S Rajaratnam School of International Studies Joseph Liow and the dean of the Lee Kuan Yew School of Public Policy Danny Quah.
Lam Yi Young, deputy secretary at the Ministry of Trade and Industry, will share how the government is working with companies to transform them for the future; Nanyang Technological University professor Ng Yew Kwang will present the economic outlook for 2019.
It is not all academic, though.
Business practitioners will also speak. They include executive chairman of YCH Robert Yap, chief executive of Teck Sang Pte Ltd Andrew Seik, and co-founder of local clothing brand Love, Bonito, Rachel Lim.
Having engaged in their trade and grown their market share in logistics, distribution of foodstuffs and retail fashion respectively, they will talk about how they will take their respective companies through the volatile geoeconomics of the coming year.
Jan Moller, chief executive of Global Blue Singapore, a leading company in tax-free shopping, will be a member of a panel discussion on Day 2. He will offer ideas - backed by data analytics - on how businesses can get a share of the tourist dollar and how to engage millennial consumers
