MRTS Consulting completed a short research project in June 2022 to explore shopping preferences among Cambodian millennials. This updated similar research in 2021.
Implemented via an online survey, the research examined 5 dimension of consumer influence to find the consumer ‘sweet spot’:
- Is price or brand more important?
- How important is the link to Cambodian culture?
- Which are more attractive: Cambodian or international brands?
- How important is endorsement by a famous Cambodian personality?
- Do Cambodian consumers need to feel independent in their product choices?
Based on over 250 survey responses, our survey found that for 82% of respondents, price was more important than brand, and price plays an even more important role in older age groups. But it was notable that the influence of brand was higher in 2022 than in 2021, especially in younger consumers.
Other key influences on product choice include:
- How innovation the product is
- And familiarity (including whether it is a repeat purchase)
- And whether the product was Cambodian
We can also see in our data that innovation is important to all age groups but older consumers start to look for value, as well as liking familiar products.
The research explored the influence of Cambodian vs International products, as well as the importance of Cambodian culture in product choice. This year we can see a clear rise in preference for Cambodian products over international products.
This finding can also be seen in a clear preference for adverts that feature a famous Khmer personality rather than an international personality.
The research found that this year consumers are a little less independent when choosing products, with an increase in wanting to see advertising before choosing, as well as more wanting recommendations from friends and family.
Lastly, the research also looked at how COVID has affected shopping behaviour. We found a clear increase in online shopping, especially for groceries but also personal care items. More importantly, the research noted that for grocery and personal items, consumers are in no hurry to return to in-store shopping.
The research can be summarised into the characteristics of the Cambodian consumer ‘sweet spot’: