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Marketing Week 2009.
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SE Asian Reaction to The GFC
The D Word
National Foods Conference 2009
Diversity in:Economic performance (Singapore,
Malaysia, Thailand forecasting negative GDP growth)
Political stability (Thailand and Philippines challenges; Indonesia, Singapore, Malaysia ok)
Size (Indonesia 1,860,360 km2, Singapore 707 km2)
EthnicityConsumer sentimentHealth status…….
The D WordCulture Religion Geography Language Wealth Foreign investmentCurrency volatilityDemographicsRetail development
Reliance on exportsInfrastructureDemocratic maturityPopulationUnemploymentGovernmentMedia channels and
consumption Retail development
GDP – Indonesia and Vietnam standouts
2009 2008 2007 2006
-6.5 1.1 7.8 8.4
-3.4 2.6 4.9 5.2
3.5 6.1 6.3 5.5
1.0 4.6 7.2 5.4
-3.1 4.6 6.2 5.8
4.5 6.2 8.4 8.2
Singapore
Thailand
Indonesia
Philippines
Malaysia
Vietnam
Inflation
Singapore
Thailand
Indonesia
Philippines
Malaysia
Vietnam
2009 2008 2007 2006
0.1 6.5 2.1 1.1
-0.5 5.4 2.2 4.7
6.0 9.8 6.4 13.1
2.0 9.3 2.8 6.3
1.8 5.4 2.0 3.6
6.0 23.1 8.5 7.5
A melting pot or a hotchpotch….
Singapore
Thailand
Indonesia
Philippines
Malaysia
Vietnam
Popmln
Areakm2
2008 GDP PP USD
FDI inflowUSDm
4.8 707 49,912 22,801
66.5 513,120 8.705 9,834
228.5 1.860,360 3.943 7,918
90.4 300.000 3.506 1,520
27.8 330,252 13,748 8,053
86.1 331,212 2,816 8,050
ASIAInternet Users,
Latest Data
Penetration (%
Population)
Users (%) in Asia
• Singapore 3,104,900 67.4 % 0.5 %
• Malaysia 15,868,000 62.8 % 2.4 %
• Vietnam 20,993,374 24.4 % 3.2 %
• Philippines 20,650,000 21.5 % 3.1 %
• Thailand 13,416,000 20.5 % 2.0 %
• Indonesia 25,000,000 10.5 % 3.8 %
TOTAL ASIA 657,170,816 17.4 % 100.0 %
Internet penetration
The telling factors…131%
64%
27% 29%
87%
68%
Singapore Thailand Indonesia Philippines Malaysia Vietnam
Exports as % of GDP
Big variation in proportion of GDP from private consumption
Not all stimulus packages are equal
Fiscal Stimulus plans of select G20 countries
$75 b 38 of GDP
United States
$31 b 2.5 of GDP
Canada
$32.87 b 1.3 of GDP
France
$28.5 b over 1 of GDP
Britain $102.4
b 3.25 of GDP
Germany
$8.85 b 0.4 of GDP
Italy
$62 b 5.4 of GDP
Russia Chinaa
$49.28 b 5.7 of GDP
South Korea
$122.9 b 2 of GDP
Japan
$33.59 b 2 of GDP
Australia
$6.1 b 1.3 of GDP
Indonesia
$4 b 0.4 of GDP
IndiaSouth Africa
$30 b (approx.)
Argentina
$0.43 b 1.5 of GDP
Turkey
Source - The Standard Thursday 2nd April
?
$585 billion
13.3 of GDP
$6 b = 7% of GDP
Vietnam
Vietnam
Vietnam inflation
14.8
11.39.2
5.63.9
24.2
27.928.32726.8
25.2
21.419.4
15.714.1
8.5
26.7
17.5
19.9
2007
tota
l
Jan-0
8
Februar
y
Mar
chApril
May
June
July
August
Septe
mber
Oct
ober
Novem
ber
Decem
ber
Jan-0
9
Februar
y
Mar
chApril
May
June
Retail Volume index: Vietnam
Consumer Volume Index - Total FMCG
100
107105 104
112
105
116
134
123
154
132
139
134
142144
140
150
138
148
172
137
154
149
156
149
90
95
100
105
110
115
120
125
130
135
140
145
150
155
160
165
170
175
180
JUN07 AUG07 OCT07 DEC07 FEB08 APR08 JUN08 AUG08 OCT08 DEC08 FEB09 APR09 JUN09
Total FMCG
Growth %
YTD'09 vs.
YTD'08
Jun'09 vs.
May'09
Jun'09 vs.
Jun'08
Total 6 Cities 12.4 -4.2 11.2
Total Top 37 Categories
Top 5 Consumer Concerns
1) Health1) Health
2) Increasing Bills2) Increasing Bills
1) Increasing Food Prices1) Increasing Food Prices
3) Increasing Bills3) Increasing Bills3) Job Security3) Job Security
4) Work Life Balance 4) Work Life Balance
2) Job Security2) Job Security
4) Price Increases in Petrol4) Price Increases in Petrol
5) Debt5) Debt 5) Children’s Welfare5) Children’s Welfare
$
$
HanoiHanoiHCMCHCMC
Source: Nielsen Vietnam Omnibus May 2009
Individualism V Collectivism
Other peoples opinions do affect my actions and
behaviours
Other peoples opinions do affect my actions and
behaviours
HanoiansHanoians
It’s my decision that counts. I use other
opinions for reference only
It’s my decision that counts. I use other
opinions for reference only
SaigoneseSaigonese
“When I came to the store to buy an LCD, I
had already decided to buy Samsung brand
before going there. I just asked others’ opinions
for reassurance’’
“For example, I want to buy a new TV and if some of my neighbors tell me that the TV is not high
quality, then I would be turned off that TV right
away”
Source: Nielsen Regional Differences Qualitative Study
Family recommendation a factor for all, but then much variation on sources
Q:Q: How important are each of these groups in making your purchase decisions?
* Significantly higherQ 23b: Please rate those statements based on importance (1 to 5).Top 2
Boxes
94% 99% Recommendation from my
family members
71% 91% Recommendatios from my
friends*
52% 83% Recommendation from
colleagues/ partners *
42% 94%
Recommendation from my
neighbors*
SaigoneseSaigonese HanoiansHanoians
But why?The role of public opinion and social conformity differs between the two cities and seems to influence Hanoians more
They don’t just live for themselves and they do care what others think of
them. Appearance is key.
They feel a responsibility to obey certain standards and disciplines
They don’t just live for themselves and they do care what others think of
them. Appearance is key.
They feel a responsibility to obey certain standards and disciplines
HanoiansHanoians
They just live for themselves and don’t care “much” about what others
think.
They just live for themselves and don’t care “much” about what others
think.
SaigoneseSaigonese
“When I go out with my friends, I don’t
need to wear premium luxurious
brands” “There’s a saying in the North which is: Tell me what motobike you are riding,
then I would tell you who you are”
Source: Nielsen Regional Differences Qualitative Study
To impact behavior it’s useful to understand the important touch points in each market
6% 23%* Like to watch ads and are
affected by them
* Significantly higherQ 32: Which statement best describe you? SA
Base: All respondentsSource: Nielsen Regional Differences Quantitative Study
HCMC HN
How important are each of these factors in influencing purchase decisions?
41% 91%* Advertising
42% 83%* Newspapers/Magazines
36% 67%* Recommendations from
sellers/store owners
22% 95%* Internet/other websites to compare information
22% 100%* Mfr/Distributor/Seller
websites and forums
* Significantly higherQ 23b: Please rate those statements based on importance (1 to 5). Top 2
Boxes
Base: All respondentsSource: Nielsen Regional Differences Quantitative Study
HCMC HN
The role of advertising is more critical in Hanoi
I watch advertising and also refer to others ideas to feel assured
HCMC HN
I like strange, unique and funny advertisements. It makes me laugh,
feel happy and attracts my attention
Advertisements are really helpful when I need to buy something
I have a tendency to love meaningful implied advertisements
I feel more comfortable with products which have many
advertisements
Preference for products will depend on the popularity of it’s
advertisement
57% 81%*
44% 75%*
28% 73%*
30% 68%*
19% 49%*
17% 49%*
* Significantly higherQ 33: How much would you agree on the following statements? Top 2 Boxes
Base: All respondentsSource: Nielsen Regional Differences Quantitative Study
Promotion strategies need to cater to different consumer preferences
Increase volume/ quantity
Attached gift
Reduce price
Reduce price11
22
33
11
HCMCSaigonese consumers favor various promotion strategies
HNHanoians strongly prefer one type of promotion: PRICE
ShampooBeverage
ShampooBouillon
TVFridge
TV Food
Base: All respondentsSource: Nielsen Quantitative Study
Q 19b: Which promotion program do you prefer the most?Q19c: Which categories would you like this promotion program to be
applied?
Vietnam
What are the top concerns of manufacturers and suppliers?
1) Competitive pressure/ Activity/Growth (40%)
1) Competitive pressure/ Activity/Growth (40%)
2) Global Economic Crisis (38%)
2) Global Economic Crisis (38%)
5) Inflation (24%) 5) Inflation (24%)
7) Wage Growth (13%)7) Wage Growth (13%) 3) Price increases (37%) 3) Price increases (37%)
4) Low GDP Growth (33%) 4) Low GDP Growth (33%)
6) Labour force skill shortage (18%)
6) Labour force skill shortage (18%)
8) Foreign Investment Slowdown (12%)
8) Foreign Investment Slowdown (12%)$
Source: Nielsen Business Barometer, Feb 2009, Base: All respondents
Which of the following issues concern you in terms of the impact they may have on your business? Rank the top three issues that concern you where 1=most concern, 2=second most concern etc.
How does business view Vietnam conditions (compared with last year)?
11 9
49 54
15 11
21
4
21
5
0%
20%
40%
60%
80%
100%
Total (n= 75) FMCG (F) (n=56)
Deteriorated significantly (1) Deteriorated somewhat (2) Remained the same (3)
Improved somewhat (4) Improved significantly (5)
Business Conditions in Vietnam (Now vs Year Ago)
•Q5. Compared to the same time last year, do you think business conditions in Vietnam have improved or deteriorated?
60% 63%
…but the future feels bright - more optimism among own industry
7 4 1
31 38
23 25
28 25
35 32
3233 36
38 7
30
4
0%
20%
40%
60%
80%
100%
Total (n= 75) FMCG (F) (n=56) Total (n= 75) FMCG (F) (n=56)
Deteriorated significantly (1) Deteriorated somewhat (2) Remained the same (3)
Improved somewhat (4) Improved significantly (5)
Total Market Your Industry
Over the next 6 to 12 months, do you believe that business conditions in the total market & your industry are more likely to improve or deteriorate?
63%59%
Over 70% of Vietnamese in rural; manufacturers are aware of the opportunity
4 4
32 32
51
13
52
12
0%
20%
40%
60%
80%
100%
Total (n= 75) FMCG (F)(n=56)
Decrease significantly (1) Decrease somewhat (2)Neither increase nor decrease (3) Increase somewhat (4)Increase significantly (5)
In the next 12 – 18 months, to what extent will you look to rural Vietnam areas to drive your company growth?
64% 64%
Mixed opinions on how advertising spend will move in next 6 – 12 months. Global or local forces?
12 13
21 18
29 30
32
7
32
7
0%
20%
40%
60%
80%
100%
Total (n= 73) FMCG (F)(n=56)
Reduce significantly (1) Reduce somewhat (2) Remain the same (3)
Increase somewhat (4) Increase significantly (5)
Over the next 6 to 12 months, how do you anticipate your company's spend on advertising to change?
39% 39%
Only 12% of companies plan to reduce staffing numbers
111 9
53 57
31
4
32
2
0%
20%
40%
60%
80%
100%
Total (n= 75) FMCG (F)(n=56)
Reduce significantly (1) Reduce somewhat (2) Remain the same (3)
Increase somewhat (4) Increase significantly (5)
Over the next 6 to 12 months, how do you anticipate your company's work force numbers to change ?
88% 91%
57% of manufacturers expecting to grow at a greater rate than industry average
3 28 9
32 27
24
33
29
34
0%
20%
40%
60%
80%
100%
Total (n=75) FMCG (A) (n=56)
Significantly lower (<=IA-5%) Somewhat lower (btw IA-1% and -4%)Equal (>=IA-1% and <=IA+1%) Somewhat higher (btw IA+1% and +4%)Significantly higher (>=IA+5%)
Note: IA = Industry Average
*
Company versus Industry average growth rate (next 12 months)
Vietnam
There are some bad signsTextile and construction have
sufferedVietnam saw a significant drop in
services exports (tourism air and maritime services) in 2008 but it’s a relatively minor export focus
But good stuff tooThere is still a GDP estimate of 5-6%Inflation is under controlBusiness is pretty buoyant and
optimistic about the next 12 monthsFMCG volumes continue to grow
Indonesia
Indonesia
Q1 2009 Q2 2009
• Stock market is at lowest level in Feb 2009
• Crude oil price stabilizes at $40 after sharp declines in the prior 6 months
• Lay offs from export oriented manufacturers (i.e garment, shoes)
• Currency rate at 11,250 to USD after peaking in Q4 ‘08
• Parliamentary election under way
• Stock market index improves to 1800 way above prediction
• Crude oil price increases to 65 per barrel (but local fuel price remains stable)
• IMF revised their GDP prediction for Indonesia
• Currency rate is 10.000 to the US$ 1
• SBY’s party secures highest vote, voters opting for stability & continuity
FMCG value continues to increase; driven by Modern Trade and Java.
Indonesia Total 6.8 4.54.3
Ind. MT 12.1 7.211.8
Ind. TT (GT) 3.8 2.90.1
Java Total 7.8 5.86.4
Sumatra Total 3.3 4.72.1
O. Island Total 2.1 5.3 -0.1
Total Top 50 Categories, Value: indexed to Average of 2007 Indonesia
0
20
40
60
80
100
120
140
May
'07
Jul'0
7
Sep'07
Nov'07
Jan'
08
Mar
'08
May
'08
Jul'0
8
Sep'08
Nov'08
Jan'
09
Mar
'09
May
'09
Growth (%)Cal. YTD 09VsCal. YTD 08
May 09Vs Apr 09
May 09VsMay 08
Value grows but many categories seeing volume contraction
-6.9
1.9
12.3
-2.9
-8.2
-1.6
2.2
-9.1
-16.4
2.5
2.9
9.7
17.0
12.5
10.1
3.5
5.3
7.2
-21.2
22.8
Volume Growth %
Value Growth %
Value & Volume Growth % - Jan-May09 vs. Jan-May 08
Instant Noodles
Powder Milk
Branded Coffee
Detergent
Biscuit
SCM
Shampoo
Toilet Soap
Branded Cooking
Oil
SkincareSource : Retail Index
Indonesia
Top 10 categoriesIndonesia Total Grocery – Top 10 FMCG
Instant Noodles
Powder Milk
Branded Coffee
Detergent
Biscuits
SCM
Shampoo
Toilet soap
Branded Cooking
oil
Skin Care
Mini Market
Super Hyper
-13.3
6.6
1.9
-15.1
0.8
2
-1.6
-22.3
9.9
68.9
-4.9
8.7
13.7
-2.4
3.7
6
10.7
-29.3
26.8
63.5
Trad. Trade
33
26.5
7.3
7.4
62.2
12.5
9
-25.7
26.9
-0.8
42
34.8
18.5
27.4
68.4
18
21.1
45.9
-9.8
-12.4
12
-6.4
-10.7
-8.1
-0.3
-14
-3.5
-7.8
-3.2
-4.1
16.7
10.9
8.5
-2.2
2.3
3.1
-5.6
7.1
-14
Source : Retail Audit
Indonesia
Volume
Value
Reaction to hard times is category dependent
Brand Oriented
Quantity Oriented
Function driven Emotional
driven
Rice
Cooking OilHousehold Care (detergent, floor care)
Instant Noodle
Personal Care (soap, shampoo)
Facial Care
Tea, Coffee
Milk for Kids (under 6 y.o.)
Mums more willing to reduce quantity rather than brand as these products are linked to taste (preference)
Quantity is more important – willing to use cheaper brand if necessary
Reluctance to shift to cheaper brands; greater emotional attachment.
Milk for kids serves a functional and an emotional role (I want the best for my kid). For kids under 6 years old – necessary to have adequate amount of nutrition rather than a prestigious brand
Some products may be more difficult to replace compared to others depending on degree of functional and emotional attachment to them
How does behaviour change when people are challenged economically?
Activity
LOWER CLASS
Change to cheaper brand
More Likely
Less Likely
Change pack size/ Reduce usage
Reduce purchase quantity
Reduce frequency (luxurious items)
MIDDLE CLASS
Change to cheaper brand
Change pack size/ Reduce usage
Reduce purchase quantity
Reduce frequency (luxurious items)
HIGHER CLASS
Change to cheaper brand
Change pack size/ Reduce usage
Reduce purchase quantity
Reduce frequency (luxurious items)
Source: Nielsen, Qualitative
Indonesia
What are the big concerns for industry in Indonesia?
Total
62
53
45
45
39
38
36
36
28
26
FMCG
Exchange rates
Cost of raw materials
Government policy / regulation
Lifestyle changes among consumers
Pressure on trading terms
Inflation
Political stability
Increase in promotional sales & erosion of baseline sales
Lack of certainty of enforcement of regulations
Economic condition of trading partners
68
62
53
51
45
38
32
26
24
22
Cost Of Raw Materials
Exchange Rates
Pressure On Trading Terms
Lifestyle Changes Among Consumers
Increase In Promotional Sales & Erosion Of Baseline Sales
Government Policy / Regulation
Inflation
Political Stability
Lack Of Certainty Of Enforcement Of Regulations
Retailer Supply Chain Strategies
Total FMCG
5
21
15
48
11Improvedsignificantly
Improvedsomewhat
Remained thesame
Deterioratedsomewhat
Deterioratedsignificantly
2
19
14
51
14Improvedsignificantly
Improvedsomewhat
Remained thesame
Deterioratedsomewhat
Deterioratedsignificantly
59%59% 65%65%
How does business view Indonesian conditions (compared with last year)?
Business Conditions in Indonesia (Now vs Year Ago)
And bright conditions forecast for Indonesia(Over next 1 – 2 years)
Total FMCG
4
8
70
18Improvedsignificantly
Improvedsomewhat
Remained thesame
Deterioratedsomewhat
Deterioratedsignificantly
05
7
69
18Improvedsignificantly
Improvedsomewhat
Remained thesame
Deterioratedsomewhat
Deterioratedsignificantly
88%88% 87%87%
Over the next 1 to 2 years, do you believe that business conditions in the total market & your industry are more likely to improve or deteriorate?
Revenue growth of 12% + for 59% of companies in 2009 (FMCG 65%)
Total FMCG
3 396 5
813
8
8
40
25
19
22
31 24
12
20 26
4 9 7
Sales Volume Profit
Less than 0%
0 - 5 %
6 - 11 %
12 - 20 %
21 - 30 %
Above 30%
Don't Know
1 212
4 3
821
10
10
42
28
14
25
27 25
6
2227
29
3
Sales Volume Profit
Less than 0%
0 - 5 %
6 - 11 %
12 - 20 %
21 - 30 %
Above 30%
Don't Know
Future View on Rural Indonesia (Next 2 Years : Y2011)
Total FMCG
3
24
56
16
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
3
17
59
21
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
72%72% 80%80%
Future View for outside Java business (Next 2 Years : Y2011)
Total FMCG
1
15
52
31
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
17
51
40
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
83%83% 91%91%
Production Capacity anticipated to expand in the 2 Years to Y2011)
Total FMCG
1
12
60
22
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
9
61
29
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
82%82% 90%90%
Advertising spend expected to increase in Indonesia in 2010; 79% of FMCG coys
Total FMCG
3
27
57
13Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
2
19
63
16
Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
70%70% 79%79%
25 top advertising spenders in H1 2009 Indonesia
Top 25Ad
Spenders
DecreasedAd Spend
6
IncreasedAd Spend
19
PositiveGrowth
14
Negative Growth
5
PositiveGrowth
2
Negative Growth
4Volume
And the majority of companies expect to increase hires in the 2010 year
Total FMCG
2
40
49
10Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
2
35
54
9Increasesignificantly
Increasesomewhat
Neitherincrease nordecrease
Decreasesomewhat
Decreasesignificantly
59%59% 63%63%
Indonesia Q2 Domestic growth (Real GDP) slowed to 4% but it still leads the region
Demand has been broad-based, with domestic demand that is very resilient; balancing out the export concerns (but exports for Indonesia are among the lowest in the region)
Q2 saw stronger export performance partly due to commodity price increases
Things are not bad…Telkomunikasi Indonesia posted its biggest quarterly profit in almost 7 year in Q2 2009. Net income up 16% on PY and sales up 5.3%
A successful democratic election, highest consumer confidence in 4 years and a 14.6% gain in the rupiah in Q2 are all very positive signs
Regional Consumer Sentiment
Consumer Confidence Index Q1 ‘09
A good time to buy? Q1 ‘09
What do people do with spare cash?- South East Asia (Top 5)
Indonesia Malaysia Philippines Singapore Thailand Vietnam
Putting into savings (67%)
Putting into savings (69%)
Putting into savings (69%)
Putting into savings (75%)
Putting into savings (54%)
Putting into savings (54%)
Investing in shares of stock / mutual
funds (44%)
Paying off debts/credit
cards/loans (41%) New clothes (35%)Holidays/vacations
(42%)Holidays/vacation
(46%)sHolidays/vacations
(27%)
New technology products (29%)
Holidays/vacations (37%(
New technology products (34%) New clothes (28%)
Home improvements /
decorating (27%)New technology products(25%)
Paying off debts/credit
cards/loan (29%)s
Investing in shares of stock / mutual
funds (32%)
Paying off debts/credit
cards/loans (32%)
Paying off debts/credit
cards/loans (27%)Retirement fund
(27%) New clothes (23%)
Holidays/vacation (25%(s New clothes (24%)
Holidays/vacations (27%)
Investing in shares of stock / mutual
funds (26%)New technology products (24%)
Home improvements /
decorating (23%)
National Foods Conference 2009
Compared to last year, how have consumers adjusted? Q1 ‘09
For Vietnam, also less on clothes, upgrading technology and OOH entertainment? Q1 ‘09
Moving ahead – what comes next
When conditions ‘improve’ consumers in Indonesia will continue to…
In Vietnam, when things get better, consumers will continue to …
Commonalities
Large rural population
Corruption
An emerging modern trade
Traditional still very significant
A big bubble of under 25’s
Infrastructure challenges
Legislative unpredictability
You need to create enough jobs to absorb new workers; if you don’t you risk dissent among the masses and that can drive instability
Are these large young populations – good or bad? It’s a double edged sword
Philippines have 10% of population working abroad; when things go wrong, they’re among the first to be sent home. If the economy were truly healthy they’d absorb that employment at home.
Good news
ADB say Asian economies are likely to bounce back in 2010
Philippines imports rebound up 18.9% in May
Hyundai in Seoul posted a 2nd quarter net profit up 48% on strong sales
Bharti India net profit up 24% for Q1
Asian stocks at a 10 month high end July
But perhaps the sustainability of the recovery is in question…..if the rest of the world fails to bounce back
In that case, Indonesia and Vietnam are better poised because of their relative resistance through lack of reliance on global market
Outlook and taking advantage
Opportunities Look for unmet opportunities eg. telcoms in
rural areas.
Unbranded products that will covert to branded in good times
Distribution is key; extensive and effective distribution network
Rural comprises 75% in Vietnam, 58% in Indonesia
Note the huge income disparity between rural and urban – you are dealing with very different needs
Rural - daily paid. Unilever has worked this to advantage as has Coke - reducing pack size to make consumption of their products more affordable
Jakarta has a day time population of around 12 million and an evening one of 8 million
People quite happily spend the equivalent of their net monthly salary on a mobile handset
Despite body shape, SE Asians are not immune to diabetes or obesity
In fact 1 in 6 Thais are also considered obese (specialty drinks are a popular luxury for Asians with spare discretionary cash).
RTD Green Tea has experienced massive growth in Indonesia and Coke Zero has taken off in Thailand where Coke has seen 7% growth in Q1 2009 across all brands. This is counter to the general contraction in consumer spending there.
In Indonesia, if you have a disability you will soon be asked to wear signage so that drivers know that’s the case
National Foods Conference 2009
such is life in Asia….
National Foods Conference 2009
SE ASIAN REACTION TO THE GFC
Not so much….