GFG launches inaugural Southeast Asia Trender report

03 Dec '20

3 min read

Pic: Global Fashion Group

Global Fashion Group (GFG), the leading online fashion & lifestyle destination in growth markets, has announced the launch of Zalora’s inaugural Southeast Asia Trender report. The report examines the impact of changing industry trends and recalibrates perspectives and strategies to help companies navigate the challenges brought on by Covid-19.

“This has truly been an unprecedented year for fashion and lifestyle retail, with businesses everywhere deeply affected by movement restrictions and disrupted supply chains. Uncertain times need more decisive action, but leaders face challenges in access to reliable consumer data as all past patterns come breaking down,” Gunjan Soni, chief executive officer, Zalora Group said in a press release.

“This is why we decided to harness the rich data we hold and are working closely with our valued partners via ‘Data by GFG’ to provide deeper insights into issues such as consumer buying behaviour, geo segmentations, as well as assortment. We hope that this report will be able to serve as a north star in helping players in the ecosystem better understand the evolving landscape and be able to plan strategically for 2021 and the years beyond,” Soni said.

The official launch of the report took place via a live webinar, which offered a deep dive into the report’s key themes, including: E-commerce acceleration is here to stay - the onset of Covid-19 has accelerated adoption of e-commerce and digital payments as more people in the region embraced online shopping during this period; The future is young and female - women in SEA contribute to 80 per cent of all household purchases, outshopping men by 20 per cent, and spend 40 per cent more time on online retailers. The region is home to over 200 million millennial and Gen Z consumers who are expected to comprise the largest shopping base in coming years as they reach their mid-20s and earn higher disposable incomes; Fashion and lifestyle categories have shifted - though hard hit by the pandemic, fashion demand did not disappear, but has instead shifted. Demand for categories like sports and activewear, loungewear, children’s wear, beauty and home & living surged, together with health and hygiene products; and, making and delivering sustainability commitments is key - 90 per cent of customers who answered the survey in Southeast Asia displayed interest in shopping for sustainable products and more than 50 per cent were willing to pay a premium.

The webinar also featured a panel discussion by industry experts, including Gunjan Soni, chief executive officer, Zalora; Ettore Strapazzon, lead for Trender, Zalora; Samuele Saini, sector lead of apps, e-commerce and entertainment, Google SEA; and Warren Hayashi, president, Ayden Asia Pacific, who shared their predictions on the future of the industry, as well as suggestions on ways to connect with the “new consumer”.

Fibre2Fashion News Desk (JL)

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