WARC, 11 September 2013
SINGAPORE: Young affluent Asian women are emerging as an
important consumer segment that luxury goods brands and premium travel brands
should consider targeting, according to a recent report.
Agility Research & Strategy, a market research and
strategy advisory firm, carried out an online survey of 560 affluent women aged
18 to 35 in six Asian markets – China, Hong Kong, India, Indonesia, Malaysia,
and Singapore – and found that most were likely to travel in the coming year.
Fully 96% indicated they would purchase travel, regarding an
overseas trip as a personal gift to themselves, as a reward or an opportunity
to celebrate a special occasion, with spending levels reaching between $5,000
and $20,000.
Most were planning to travel on holiday with their partner –
69% said they would definitely or very likely do so – or with family (67%).
Over half (58%) expected to be travelling on business while
38% were thinking about a holiday alone.
The Indian government is currently looking at ways to
address the safety concerns of women travelling alone, including the provision
of women-only rooms or floors in hotels.
Sabina Chopra, co-founder of Yatra.com, an online travel
services provider noted a large increase in the number of requests for "safe
hotel rooms" coming from single woman travellers, especially in the
business segment.
"Companies that ask for safe hotels for their woman
employees do not mind spending extra money to get that assurance," she
told the Economic Times.
Agility's report also showed that affluent females were more
likely to purchase an overseas holiday than affluent men (96% versus 89%), and
were slightly more inclined to stay in a hotel either in their own country or
overseas (86% versus 80%).
Amrita Banta, managing director of Agility Research &
Strategy, observed that young affluent women in Asia were active in the
workplace, had a greater proportion of disposable income and had the financial
power to buy luxury and premium brands.
Examples of this included female consumers in China
dominating the purchase of luxury goods while top-end auto marques in India
were increasingly targeting young, female, affluent drivers.
"With such financial power behind them, the Affluent
Asian female has certainly become the quintessential example of the next big
consumer segment for brands to focus on," she said.
Data sourced from Agility, Economic Times; additional
content by Warc staff
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