Exploring 5 Emerging Trends in 2024 Amid the Growing Influence of Gen Z
In 2024, five key trends identified by Meta will shape consumer engagement in Thailand, affecting the business approach to the region's burgeoning consumer base.
These trends include the burgeoning influence of Generation Z, the expanding "solo economy" characterized by individuals living alone, the widespread use of artificial intelligence (AI) technology, the prominence of business messaging, and the popularization of short-form videos.
The insights arise from a collaborative study by Meta and Bain & Company, encapsulated in the report “Bold Moves: Leading Southeast Asia’s Next Wave of Consumer Growth,” offering a roadmap for businesses aiming to capitalize on regional market opportunities.
Owned by U.S.-based Meta, the platforms Facebook, Instagram, and WhatsApp are pathways for companies to engage with Generation Z—those born between 1997 and 2012.
Representing an increasingly influential consumer segment, this demographic prioritizes digital engagement, authenticity, and individual expression, now accounting for 25% of Asia-Pacific’s population.
The Meta study highlights Gen Z's digital-centric lifestyle, with most using Facebook and other Meta services for news and content engagement. Their preferences shape how brands craft online communities and digital marketing strategies.
A notable shift in Southeast Asian demographics is the rise of the solo economy, with a soaring number of single-person households influencing consumption patterns.
This shift anticipates increased demand for products and services tailored for solitary living, such as smaller housing and appliances. By 2030, Thailand expects a 20% jump in solo-living rates, emphasizing the need for businesses to adapt.
AI technologies, having seen significant advancements in 2023, are now crucial for creating engaging marketing experiences, with companies across Southeast Asia embracing AI for their strategic outreach.
Messaging between businesses and consumers on Meta's platforms exceeds 600 million interactions daily, highlighting a preference for direct messaging over website information searches.
In Thailand, the trend is strong, with a majority of users feeling more connected to brands they can message, often engaging several times a week.
Short videos, especially Facebook's "Reels," are gaining traction, with a considerable proportion of Gen Z users following brands, tagging products, and making purchases after viewing such content, signifying the format's influence on consumer behavior.
Prae Dumrongmongcolgul, Facebook Thailand's country director, notes that with such dynamic digital evolution, companies need to adopt agile marketing strategies in 2024 to stay competitive and address the shifting needs of influential groups like Gen Z and solo dwellers.
Emphasizing a comprehensive marketing approach, Prae underscores the ongoing growth and potential of AI to augment the efficiency and impact of marketing initiatives.
The insights arise from a collaborative study by Meta and Bain & Company, encapsulated in the report “Bold Moves: Leading Southeast Asia’s Next Wave of Consumer Growth,” offering a roadmap for businesses aiming to capitalize on regional market opportunities.
Owned by U.S.-based Meta, the platforms Facebook, Instagram, and WhatsApp are pathways for companies to engage with Generation Z—those born between 1997 and 2012.
Representing an increasingly influential consumer segment, this demographic prioritizes digital engagement, authenticity, and individual expression, now accounting for 25% of Asia-Pacific’s population.
The Meta study highlights Gen Z's digital-centric lifestyle, with most using Facebook and other Meta services for news and content engagement. Their preferences shape how brands craft online communities and digital marketing strategies.
A notable shift in Southeast Asian demographics is the rise of the solo economy, with a soaring number of single-person households influencing consumption patterns.
This shift anticipates increased demand for products and services tailored for solitary living, such as smaller housing and appliances. By 2030, Thailand expects a 20% jump in solo-living rates, emphasizing the need for businesses to adapt.
AI technologies, having seen significant advancements in 2023, are now crucial for creating engaging marketing experiences, with companies across Southeast Asia embracing AI for their strategic outreach.
Messaging between businesses and consumers on Meta's platforms exceeds 600 million interactions daily, highlighting a preference for direct messaging over website information searches.
In Thailand, the trend is strong, with a majority of users feeling more connected to brands they can message, often engaging several times a week.
Short videos, especially Facebook's "Reels," are gaining traction, with a considerable proportion of Gen Z users following brands, tagging products, and making purchases after viewing such content, signifying the format's influence on consumer behavior.
Prae Dumrongmongcolgul, Facebook Thailand's country director, notes that with such dynamic digital evolution, companies need to adopt agile marketing strategies in 2024 to stay competitive and address the shifting needs of influential groups like Gen Z and solo dwellers.
Emphasizing a comprehensive marketing approach, Prae underscores the ongoing growth and potential of AI to augment the efficiency and impact of marketing initiatives.
