SINGAPORE, Dec. 4, 2024 /PRNewswire/ -- McCann Worldgroup has launched its latest insights study, the Truth about Ascending Asia, at an event held at Singapore's Asian Civilisations Museum. Over 70 clients, partners and media joined the advertising network to hear from guest speakers including Google, L'Oréal and Mastercard.
Truth About Ascending Asia
This groundbreaking new report highlights how Asia is poised to enter a transformative era, characterised by the emergence of a distinct "Asian Dream." This concept is defined by the convergence of socio-economic shifts, technological advancements, and cultural evolution, providing a compelling alternative to traditional American and European ideals.
The study encapsulates insights from over 12,000 individuals across 12 diverse markets, 44 expert interviews, and more than 100 hours of social listening, examines the attitudes, aspirations, and values of Asian consumers in an age of rapid change*.
Key Highlights:
1. Optimism Amidst Global Challenges:
The rise of Asia unfolds against a backdrop of global turmoil, including climate change, growing inequality, and geopolitical tensions. However, the study reveals an optimistic perspective among Asians:
- Only 41% believe they will need to leave Asia for a better life, in stark contrast to the 85% who feel that their everyday life will be significantly better in the next decade.
- 83% of respondents anticipate a more peaceful life in Asia compared to the West, indicating a belief in the region's stability and potential.
2. Defining the Asian Dream:
The "Asian Dream" is described as a vision woven with principles of equity, stability, and leadership. The report identifies three pillars:
- Commensurate (All-in Equity): Among respondents, economic equality between rich and poor is ranked as the most crucial element for Asia's future, with geopolitical equality between Asia and the West considered second. Notably, 70% agree that if feminism means equal rights for all, then they identify as feminists.
- Composure (Equilibrium in Society and Nature): A significant 82% prioritise social stability over individual expression, and an impressive 96% believe that organisations should be legally mandated to protect the environment.
- Captaincy (Commercial and Thought Leadership): A striking 92% believe Asian brands will become more influential globally, while 76% feel that Asian societies are better equipped to handle the stresses of modern life than their Western counterparts.
3.The Role of Brands:
Brands are no longer passive players; they are viewed as crucial contributors to societal improvement. Key findings reflect a strong demand for brands to:
- Take an active role in enhancing everyday life, with 96% of respondents agreeing brands must do more.
- Engage in social issues, as 86% believe brands should have a voice on important topics.
4. Catalysing Neo-Collectivism:
A fresh form of collectivism is emerging in Asia, blending traditional communal values of family and country with newer markers of identity around local, work and city communities. The study reveals opportunities for mobilizing bigger collects finding that 83% of Asians desire an 'Asian Union'.
5. Innovating Human Technology:
With a "Tech-First" mindset, Asia is at the forefront of technological advancements in mobile technology, e-commerce, robotics, and fintech. A notable 28% of respondents choose to be governed by tech giants like Google instead of political organisations. There is widespread belief (67%) that the benefits of technology outweigh its risks, although 56% of respondents express fear about a future dominated by robots.
6. Celebrating Cultural Affluence:
Asia's rich cultural diversity is recognised as its greatest asset, with 92% of respondents believing this diversity should be celebrated more. The report showcases cultural phenomena, such as Korean "Mukbang" eating shows, which have gained global traction, demonstrating the appetite for cross-cultural engagement. Additionally, brands drawing from Asia's deep cultural heritage, like Alo Yoga and emerging designers blending traditional Asian styles with modern aesthetics, illustrate the impact of cultural richness in branding.
7. Honouring Conscious Practices:
Sustainability is deeply ingrained in Asian philosophies, with 37% believing companies are responsible for reversing climate change. The demand for sustainable practices ranks as the number one influencing factor in product choices among consumers, surpassing other attributes such as organic or high-tech features. Brands are called to view sustainability not as a peripheral initiative but as a fundamental value.
Shilpa Sinha, APAC Chief Strategy Officer, McCann Worldgroup, commented: "While Asian societies are still navigating the challenges of inequality, instability and insufficiencies, the study reinforces the faith of Asian people in a future that's better and brighter. The Asian Dream founded on the tenets of equity, equilibrium and exceptionalism is not just a theoretical framework of the region's hopes & aspirations, it is a tangible guiding map for companies and brands to create enduring impact."
Ghassan Harfouche, President, McCann Worldgroup Asia Pacific remarked: "For over 60 years, McCann Worldgroup has been advising clients across Asia Pacific and for over 15 years we've been investing in macro truth studies for the region. This research on the world's most dynamic and diverse region, shows our commitment to understanding what drives business success in Asia and in partnering with our clients to help build enduring and innovation-led brands."
View executive summary here.
*Our Methodology
McCann Worldgroup's Truth Central, the company's global intelligence unit, conducted this large-scale quantitative study surveying more than 12,000 people in 12 Asian markets- mainland China, Hong Kong, India, Indonesia, Japan, Philippines, Malaysia, Singapore, South Korea, Taiwan, Thailand, Vietnam. Additionally, 44 business leaders, futurists, academics, and culture tastemakers were interviewed across these markets.
About McCann Worldgroup
McCann Worldgroup, part of the Interpublic Group (NYSE: IPG), is a leading global creative solutions company. The company is united across 100+ countries by a mission to build enduring brands together. McCann Worldgroup was named Network for the Year by the Andys in 2024 and Network of the Year by the EPICA Awards for the sixth time. The core McCann Worldgroup network is comprised of McCann, MRM, CRAFT, and FutureBrand, and partners with Momentum Worldwide, Weber Shandwick and UM to deliver solutions across the entire marketing spectrum.