Southeast Asia is recovering from the covid-19 pandemic, but many aspects of life remain uncertain in the near future. Therefore, investors or business owners must analyze the post-covid business opportunity Southeast Asia before entering the SEA market or planning for a business campaign.
The pandemic has altered the lives of the people in SEA. As a result, it affects the Southeast Asia consumer trends and the way consumers purchase products. In the end, these alterations create new business opportunities, which must be seized maximally by investors and business owners.
Post-Covid Business Opportunity Southeast Asia
Various businesses have collapsed due to the crisis caused by the pandemic. However, it turns out that the pandemic also brings certain positive effects in the business world. Several post-covid business opportunities are predicted to be present in the SEA.
Among these opportunities, the e-commerce business opportunity is the most promising one. During the pandemic, the retail industry suffered a massive change. It forced consumers to shop online more often than before.
According to a survey, 2 out of 5 consumers in SEA will spend even more on digital services after the pandemic. Therefore, the e-commerce business will still have its opportunity to grow rapidly and profitably.
The rapid growth of the e-commerce industry affects the way consumers pay their purchase. It can be seen from the increased adoption of e-wallet. In addition, the fintech industry is also growing considerably.
Post-Covid Consumer Trends in the SEA
The post-covid business opportunity Southeast Asia is highly affected by the post-covid consumer trends in the region. The online shopping trend has improved the profit of e-commerce and online sellers. It forces the more traditional stores to change the way they sell and promote their products.
Since SEA is still in its recovering process, people in this region are still uncertain to spend their money for a long holiday and holiday abroad. Research said that Southeast Asians will spend more than 70% of their time on in-home activities even after the pandemic.
It is also said that the work-from-home model will be a new standard. As a result, certain products that support these activities will have more opportunities to gain large market share than before.
How to Seize the Post-Covid Business Opportunity Effectively
Southeast Asia, indeed, presents promising post-covid business opportunities. However, certain investors or business owners may not be able to seize them effectively. To gain large profits from these business opportunities, they must conduct market research first, then plan the investment or business strategies.
For this purpose, investors and business owners must hire a research market firm in the SEA. This particular firm is expert in market research and market analysis. With the help of this firm, they will have the best business or investment strategies that allow them to take the business opportunities.
The market research firm will not only help its clients in understanding consumer trends in the SEA, but it will also help them deal with market competition, reducing financial burdens, and other issues.
Realign with the new normal is not an option, but it is a must. Therefore, for a business to survive after the pandemic, it must be willing to change and grab the new opportunity presented by the condition. To transform this opportunity into profits, the assistance of a market research firm is needed.