MRTS Consulting completed a short research project early in 2021 to explore shopping preferences among Cambodian millennials.
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 500 survey responses, our survey found that for 89% of respondents, price was more important than brand, and price plays an even more important role in older age groups.
Other key influences on product choice include:
- How innovation the product is
- And familiarity (including whether it is a repeat purchase)
We can also see in our data that innovation is especially important to younger consumers, whilst among older age groups we see that advertising becomes the dominant influence (beating value for money).
The research explored the influence of Cambodian vs International products, as well as the importance of Cambodian culture in product choice. We found that while some consumers are strongly in favour of buying Cambodian products, the majority are happy to choose either Cambodian or International. However, it was also found that products that feel Cambodian or reflect Cambodian culture are preferred.
This finding can also be seen in a clear preference for adverts that feature a famous Cambodian personality rather than an international personality.
Lastly, the research found that respondents really like to feel independent in their choice of products. They are happy NOT to follow recommendations or advice from family and friends!
The research can be summarised into the characteristics of the Cambodian consumer ‘sweet spot’: