At the inaugural meeting of the Singapore Economic Development Board Consumer Insights International Advisory Panel recently, the panel agreed that Singapore is well-positioned to help companies innovate through harnessing consumer insights.
Radhecka Roy, qualitative insights director-Asia Pacific at Synovate, said while many global players view Singapore as a great breeding ground to test “advanced” ideas, this country is a place where they can kickstart their innovation process and help them pick the most evolved consumer brains.
(For example) “A leading player in skin care uses Singapore as a base to test out products and concepts for new ideas. Singapore acts as a stress test where product concepts benefit from the feedback of a very evolved and sophisticated consumer,” Roy added.
Paul Donato, Nielsen's executive vice-president and chief research officer, meanwhile said Asia-Pacific consumers continue to drive global demand, and thus winning consumer will require companies to be innovatiing constantly to satisfy new or emerging demand pools.
With its huge base of regional offices, Singapore is also always seen as a hub to understand the differences and similarities, in term of culture and behaviours, among different consumer groups and nationalities.
