Want to make a guess what are the top influential brands (of different categories) selected by our Generation X (Gen X – age between 34 and 54 years old) in Singapore? The survey was done in the first half of this year 2014. You might be surprised by the results.
Before we look into the brands, lets see how Gen X make decisions. Here are some easy to read chart on the overall feel about Gen X over the brands.
Do you agree?
Next, lets check out the Listing of the top brands in different categories. As I am Gen X, I think some of them are spot on. Seems like Gen X likes to stick to the origin of the product/service or brands that are from Singapore.
Table 1. Listing of 2014 Top Influential Brands
List in no order of preference or ranking.
If you care to read the long Press Release, please go ahead.
BRAND ALLIANCE CELEBRATES WITH OVER 100 TOP BRANDS SELECTED BY CONSUMERS IN SINGAPORE
Generation X consumer choice survey and insights reveal opportunities for brands to capture convenience-seeking consumers on multiple platforms.
Singapore, 16 July 2014 – Brand Alliance congratulates all Top Influential Brands in Singapore, as selected by the upwardly mobile Generation X (Gen X) surveyed in Singapore. Influential Brands™ is a first-of-its-kind Award programme in Singapore which is driven purely by consumer choice with insights and also undertakes an extensive ongoing integrated exposure, aimed to increase the recognition of Top Influential Brands and for brands to deepen engagement with their consumers.
“The influence of brands in Singapore is different from that of the rest of Asia given a different set of values and circumstances. The consumer choice Award is geared at recognising international, regional and local brands which have effectively achieved a level of influence in a segment of consumers in Singapore which can be broadly segmented into demographics or lifestyle sets,” said Mr Jorge Rodriguez, Director of Strategy at Influential Brands.
Brand Alliance surveyed more than 3,000 Gen X respondents in Singapore between ages of 34 and 54 years old, nationwide in the first half of 2014 for their preferred brands across industries and factors which determine certain brand preferences. The survey reveals more than 100 Top Influential Brands in Singapore across all categories with more than 20 new categories in 2014. The new categories in 2014 are deemed highly relevant to the Gen X given the stage of their life cycle and careers which may indicate a higher purchasing power while finding a balance between discretionary and necessity spending.
Some new categories in 2014 relevant to the Gen X consumers include Health and life insurance, Property developers, Furniture shops, Property agencies, Electronic retailers, Dental clinics, Preschool centres, Tuition centres, Full service airlines, Budget airlines to Fast Moving Consumer Goods (FMCG) brands such as Milk powders, Vitamins and health supplements in addition to Online platforms and preferred Credit Cards among others.
Sweet spot between price, convenience and accessibility
Both price and elements of convenience are considered in the value equation. The Singapore Gen X consumer values convenience despite being price sensitive. They tend to make brand decisions based on ease of obtaining a product or service.
Elements of convenience such as location, accessibility and user-friendliness of online platforms are important factors for Singapore Gen X when making decisions in relation to price.
Recommendations are not as important to Singapore Gen X unless making property decisions
Singapore Gen X are less influenced by recommendations when making brand decisions for categories surveyed, in comparison to other factors which rank high in making brand decisions.
However, the Singapore Gen X would consider recommendations from trusted sources from contacts when making property decisions, with one in five likely to consider recommendations when making a decision on property developers or property agencies.
Assimilation of digital immigrants: Singapore Gen X are increasingly distracted on multiple screens While print is still highly relevant as a source of news for the Singapore Gen X, online and social platforms are rising to be preferred news sources for Singapore Gen X.
“With increasing shifts in consumer behaviour driven by technology and digital platforms, both local and international brands are communicating with a distracted group of consumers. The window to capture attention and purchase decisions has shifted from traditional retail to include alternative platforms and this spells opportunities for brands to increase conversion for online platforms or increase engagement through multiple channels at various points of a consumer decision journey,” Mr Rodriguez commented.
Some brands which have captured the hearts of both Gen Y in 2013 and Gen X in 2014 include household names such as ToastBox, NTUC FairPrice, DBS Bank, Gong Cha, Old Chang Kee, Din Tai Fung, Clinique and Watsons among others. Please refer to the Appendix for a full listing of 2014 Top Influential Brands.
About Influential Brands
Influential Brands™, first-of-its-kind in Singapore, is a consumer-driven insights Award programme which recognises and celebrates the efforts of Singapore and Asia-based brand heroes which have achieved a level of influence and impact on the consumer.
The programme provides an extended rich exposure for the Top Influential Brands through a targeted exposure programme. The integrated platforms help brands reach out to consumers and also increases awareness of the Top Brands’ achievements in the minds of consumers.
The programme is designed to support and help brands increase engagement and awareness with consumers. For more information, please refer to influentialbrands.com.
About Brand Alliance
Brand Alliance amasses more than 16 years in the industry, with proven track record in regional branding for businesses in Asia Pacific.
From consumer insights, brand/store concept to packaging and digital branding, Brand Alliance provides a one-stop solution to businesses across industries, with a strong focus in Duty Free and the travel retail sector.
Brand Alliance applies its unique COMPLETE BRAND INTEGRATION™ framework, which ensures a holistic approach for building sustainable brands. The Group dedicates itself to building long term relationships with clients and in some instances, act as the brand’s extension in marketing and branding activities in Singapore and Asia Pacific.
Brand Alliance has undertaken Duty Free, brand management and other projects from Singapore to the region, China, India and others. www.brandalliance.com.sg/ firstname.lastname@example.org