19 October 2018 – FleishmanHillard Thailand, the world’s leading communications and digital marketing agency, unveils its latest report on the beliefs, attitudes and social perceptions, as well as the living and consumption behavior of Thai Millennial Version 4.0. According to the report, Thai Millennials seem to different definition of success and happiness, long for some changes within the Thai society and do not attach themselves to specific brands.
Money may be an essential, but happiness is more important
More than 70% of survey respondents point out that money is the best measure of success, and more than 87% admit to feeling good after spending money to treat themselves. Indeed, the respondents admit that money is an essential in life. However, they also stress that they are well aware of their own desires and needs, to such an extent that it prevents them from value money more than happiness.
According to the report, the Millennials define the state of happiness as being healthy (67%), having the time for themselves as well as the freedom to live their lives (67%). At the same time, approximately 55% of the Millennials place importance on saving.
Paying is never a problem, as long as the brands reflect who I am
The Millennials appear to place a lot of importance on distinctive expression of the self. 79% of Millennials are ready to pay more for products and services from a brand that attends to their personal needs and desires. The top five industries with promising potentials in creating personalized brands for the Millennials include F&B, Telecommunications, Lifestyles, Banking and Electronics.
Individuality is everything
The Millennials believe that their individual identity cannot be defined by one specific brand. The report shows that 84% of the Millennials use fashion as the tool for self-expression, which is why they are always on the lookout for activity, music and clothing which are different from the norm. Another indicator that emphasizes on the heightened individuality of the Millennials is the fact that 84% of the respondents states that they look forward to spending time with themselves. While it is true that the Millennials are always on social media, only 21% of them prioritize socializing with friends.
Appearance is more important online
Even though the Millennials are aware that they are spending too much time on their Smartphones, they admit that they place priority on their online appearance and self-expression 56% higher than offline. 65% reveals that they spend time taking care of their health so that they can look better on social media, and 56% believe that they can find meaningful, long-lasting relationships through dating apps like Tinder.
Thai Millennials are very optimistic about the future of Thailand
The report indicates that Millennials are looking for changes within the society including freedom of living, the ability to work anywhere in the world via technology, social equality through gender, religion, race and cultural diversity, as well as politics that support the whole country’s interest, and citizens rather than part of a group’s interest. In any case, Thai millennials are very optimistic about the future of Thailand, as they believe that the country is going to change for the better. Overall, Thai male Millennials express more optimism than females.
How to engage Thai Millennials Version 4.0
Sophis Kasemsahasin, Senior Vice President and Partner, General Manager, FleishmanHillard Thailand, explains that survey respondents are Millennials between the age of 25 – 37 years old, most of which are in the working age. Therefore, they are the formidable force that drives current economy and society, thus become the audience targeted by brands.
“Millennials are a group of consumers with unique complexity. Their needs and attitudes appear to lie in the middle between two extremes. On one hand, they are a kind of consumers who are not afraid to spend money on products and services that attend to their needs. On the other hand, they take price points into serious consideration. Since the perceptions towards their living and consumption habits of the Millennials are different from previous generation, it is essential that brands learn to understand, but also adapt themselves to be able to attend to the needs of the Millennials. This includes the introduction of new products and services, as well as a loyalty program that speaks to their minds. Indeed, it becomes more and more important to create a brand that adds meanings and values to individual identity and beliefs, than a brand that simply reflect social status. Also, since the Millennials are smart customers who always choose the best for themselves, having honesty and transparency as the core value as well as the ability to establish relevancy through selecting the right influencers, are the best tactics that will help brands reach out to the Millennials” said Sophis.
“Exploring Thailand Millennials: their beliefs, attitudes and perceptions in society” report gathers data and information from 500 Thai respondents between the age of 25 – 37 years old. The report is collaboration between FleishmanHillard Thailand, part of the world’s leading communication agency, and Global Intelligence, a team of experts on data-intensive analysis of market insight and consumers, part of FleishmanHillard USA.