Travelling Millennials More Likely To Discover New Brands Than Older Generations, Study Suggests

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Spending habits seem to be shifting across the generations, a new study suggests. The new research from Publicis Media and Publicis Communications investigated the demand for global and local brands, the readiness to exceed the budget and the varying degrees in which shoppers plan their purchases for each country.

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Among the prominent findings include how a planned purchase might not necessarily end in a sale. According to the research, about 66 percent of high net worth Asian travellers end up forgoing at least one brand on their pre-departure shopping list. Incidentally, 65 percent were found to purchase from a new brand they were initially unaware of, prior to their trip. Millennials are also found to be more likely to discover new brands during their travels, compared to the average respondent. The company suggests that marketers should cater their digital strategy appropriately, increasing exposure and reach, and adapting to any multilingual barriers in order to resonate better with the Asian travellers’ native languages.

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Over 5,800 luxury consumers were surveyed across 10 key markets in Asia Pacific, including China, India, Indonesia, Malaysia, Thailand, Philippines, Singapore, Hong Kong, Taiwan and Korea. Among the focal points of the study were the spending habits during their travels. Other interesting conclusions include how 25 percent of the consumers surveyed would research on global brands before their trip, while only 16 percent look up information pertaining to local designers. Almost half of the respondents from China, at 46 percent, were found to consider visiting global brand boutiques on their trips a priority. On the contrary, only 32 percent and 31 percent from Indonesia and India do the same, respectively.

Despite the discrepancies across countries regarding travel-spending habits, there seems to be one general consensus. Indeed, consumers across Asia are willing to spend more than planned, although the degree of their willingness would vary from trip to trip. Travellers from China, Hong Kong, South Korea and Taiwan were found to be slightly thriftier on shorter trips like those over the weekend, but would be more willing to splurge on long-haul trips.

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