Ipsos Global Trends and the "4S" of Thai consumers

In search of a new consensus: from tension to intention. 

Ipsos Global Trends 2024 identified nine Global Trends – Globalisation Fractures, Splintered Societies, Climate Convergence, Technowonder, Conscientious Health, Retreat to Old Systems, Nouveau Nihilism, The Power of Trust, and Escape to Individualism. A strong theme this year is that among all these tensions, people are acting with intent to take control of their futures. Ipsos’ analysis highlighted “4S” shaping the future of Thailand, which are SELFsumers, Seamlessness, Security and Sustainability.

SELFsumers – Consumers have evolved… 

They focus on living in the moment, care about their image in both the physical and virtual worlds and have become more self-reliant.

Ipsos Global Trends observed the shift in consumer behaviours. Consumers now focus on living in the moment. From quiet quitting to soft saving, young people are working to enjoy life, experience life, and travel. 72% of Thais believe the important thing is to enjoy life today as tomorrow will take care of itself. Another 84% say they live for today because the future is uncertain, ranking highest among 50 countries surveyed. 

Consumers give importance to their self-image, using a “me first” mindset to express identity and individualism in both physical and online world. 65% of Thais like to buy products or experiences that they think will look good in photos they post online. Now that the lines between physical and virtual worlds are blurring faster than ever, some even seek escape to be a complete other self in the virtual world.

In the age of SELFsumers, brands can embrace the opportunity by addressing their roles and personalities to consumers who are seeking ‘happiness’, bridging the virtual world with physical products/stores, which in turn offers an opportunity for a new ‘promotion scheme’, and creating an additional revenue channel as virtual world is not only just a place to advertise anymore.

Furthermore, as consumers have become more engaged and informed, self-reliance in health is rapidly growing. 84% of Thais would like more control over decisions about their health while a significant 82% always try and find out information on healthcare by themselves, rather than just relying on what the doctors say. From incorporating holistic practices with their treatments to turning to social media as a starting point or a source of information for many – especially diagnosing mental health.

Seamlessness – Thais are excited about AI, ranking third globally

The study found that Thais are excited about what AI can do for products and services, ranking third among 50 countries surveyed following China and Indonesia. 73% of Thai consumers say products and services using artificial intelligence have profoundly changed their daily lives in the past 3-5 years, with a high sense of optimism around AI on entertainment and time saving tasks. 

However, consumers still seek human interaction and prefer human customer service more than AI chatbots, especially the Baby Boomers. More than half Thais feel companies do not live up to the promised experiences. 

Consumers seek human interaction when it comes to customer service. Live agents are perceived as being better than bots at most customer service tasks. The study found that 73% think customer service is getting too automated and impersonal. Baby Boomers tend to think this way more than the other age groups, with 81% agreeing with the statement, followed by Gen X (75%), Millennials (74%) and Gen Z (66%). Furthermore, more than half Thais feel companies do not live up to the promised experiences, resulting in growing dissatisfaction. 55% say their experiences as a customer are generally worse than companies have promised while another 74% are prepared to pay more for a better customer experience. 

True success in designing seamless and memorable experiences lies in understanding people and balancing technology with humanity. Brands are advised to meet and shape expectations via brand experiences, understand and integrate context to optimise experiences, and put empathy at the heart of experience design and delivery. 

While seamless experiences help delight SELFsumers, they come with some major concerns about Security. 

82% feel it is inevitable that we will all lose some privacy in the future because of what new technology can do yet 81% are concerned about how information collected about them when they go online is being used by companies.

Sustainability

In general, people tend to associate sustainability with the environmental aspect, but there is more to it. 

Thais choose to prioritise social issues when they think about sustainability. When it comes to sustainability, Thais choose ending poverty and reducing inequality, inclusive and quality education for all, and full and productive employment and decent work for all as the top three most important issues for the country to address. In terms of “ESG,” the weight falls heavier onto the “Social” and “Governance” categories, rather than the “Environment.” 

Most Thais feel environmental issues are now beyond a personal level. 89% of Thais agree that we are heading for environmental disaster unless we change our habits quickly, but 89% also feel that they are already doing all that they can to save the environment. 79% believe companies do not pay enough attention to the environment and 87% believe it is possible for a brand to support a good cause and make money at the same time. 

To grow sustainably, brands can build trust and avoid framing sustainability as a burden for consumers, focus also on social and governance aspects and monitor if their technology is a pain for any generations. 

Final “3-BE’s” takeaways for brands making decisions in this everchanging consumer landscape: 

1. Be informed – Keep track of consumer needs and behaviours in this fast-changing world.
2. Be active – Embrace opportunities coming with new technologies and have offerings that resonate with the needs of SELF-sumers.
3. Be inclusive – Revisit the brand’s target group(s) and choose the appropriate level of technology adoption. 

 Discover the last edition of Ipsos Global Trends

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