Market Pulse Amid Covid-19
On June 5, AMCHAM’s Communications and Marketing Committee held a virtual event titled Market Pulse Amid Covid-19 to over 50 participants. The panel discussion featured six members of the Thailand Marketing Research Society (TMRS) as they presented the latest market research. TMRS is comprised of market researchers, social researchers and users of market research, is aimed at promoting and upgrading the market research industry in Thailand to international levels. The speakers included Grant Bertoli, President of TMRS & CEO of Marketbuzzz; Kla Tangsuwan, CEO Wisesight; Dr. Dangjaithawin Anantachai, Managing Director of Intage (Thailand); Dave McCaughan, Storyteller of Bibliosexual; and Nicha Tanskul, Managing Director Custom Asia.
Kla Tansuwan and Dr. Dangjaithawin Anantachai began the session discussing new normal behaviors and how those were further decoded for data to be used in a meaningful function. They took data from popular social platforms such as Facebook, Instagram, Twitter, and LinkedIn as well as local social platforms like Pantip and used machine learning to sort trends. Kla spoke on behavior moving toward an affinity for cooking at home or socializing on TikTok as quarantine has increased a feeling of loneliness in most consumers. Dr. Dangjaithawin added to this by saying that once individuals began to feel safe in their environment, that the desire to collaborate and coordinate with others began to rise. She also stated that it is likely that the future of marketing messages will need to include the theory of social influence as it becomesmore prevalent in communication.
Grant Bertoli followed with insights regarding consumer buyer trends. Marketbuzzz reported on some typical items being purchased at the start of the pandemic like frozen foods and non-perishables but also on surprising items like exercise equipment. He also pointed to the industries experiencing the largest strain since covid-19 like luxury goods, automobiles, and the tourism industry. Dave McCaughan then spoke on the rising efficacy of contactless payment and other tools that companies are using to make e-commerce more convenient. E-commerce is now also becoming the platform of choose from un-traditional services like e-medical evaluations. He expects that people will also have changed their expectations on cleanliness procedures for public restrooms, with companies now boldly advertising these initiatives on social media. Dave also touched on Working From Home (WFH) and its affect on workers as most now struggle with separating work time from leisure time.
Nicha Tanskul segued WFH positives and negatives with an in-depth study on consumer emotion. Nicha broke down the emotional spectrum of individuals by their geographic location, age range, and social status attempting to dimensionalize the data. Consumers were asked a variety of questions including which brands they felt a strong connection with, either for utilitarian purposes, like brands selling food or cleaning goods, or for symbolic assistance, like luxury brands with positive brand messaging.
The discussion was followed by a short question and answer section that was moderated by Communications and Marketing Committee Co-Chair, David Norcross. Presentations from this event as well as a video recording are available on the AMCHAM Member Portal.
Special thanks to Communications and Marketing Co-Chairs, John DaSilva, David Norcross, Jerry Margolis, and Louie Morante for organizing this event.
