Logo of Phnom Penh Post newspaper Phnom Penh Post - Millennials seek unique experiences

Millennials seek unique experiences

Young people queuing up at the entrace to Aeon mall’s parking lot.
Young people queuing up at the entrace to Aeon mall’s parking lot. Hong Menea

Millennials seek unique experiences

Brand loyalty is a relatively weak concept among young Cambodian consumers, who are more preoccupied with searching out new shops, brands and products that provide a personalised experience, according to a new study by global market research firm Kantar TNS.

The 2017 Consumer Trends Millennial report, which broadly tracks consumer habits for those born from the mid 1980s through 2000, describes Cambodian millennials as being in the “full exploration or experimentation mode” when it comes to making purchasing decisions.

The report noted that this trend was largely propelled by access to Facebook and YouTube, which helped define what was popular or worth trying.

The firm said it had observed eight predominant trends among millennials compared to the previous generation, categorising them as value hunters, explorers, me consumers, digital social-“ists”, food is fashion, self-elevation, entrepreneurs and change makers. It added that in general Cambodian youth were less careful and more confident consumers than their elders.

In order to capture this burgeoning segment of a new spendthrift population, Chem Srey Oeun, qualitative research manager at Kantar TNS Cambodia, said brands need to focus on creating unique experiences that can help individuals differentiate themselves from their peers.

“What we have observed is that while there is low brand loyalty when it comes to traditional consumer products or restaurants, Cambodians are seeking out products that provide experiences and that create a personal identity that they believe defines themselves,” she said.

She added that branding is not all about the latest and greatest, but what “feels authentic” and “unique” and is seen as having a positive social impact.

“Cambodians are looking for products that directly touch them and what they want to do is identify with positive societal change,” she said.

According to World Bank data, Cambodia has about 6 million millennials, or about 40 percent of its population.

MOST VIEWED

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman