Social currency is worth more in Thailand
Thai consumers are attracted to FMCG brands that play an active role in their personal passions and interests, but that doesn’t mean they’ll pay a premium for them. The brands they’ll pay more for are the ones they feel give them something to discuss with their friends – the ones who give them currency for their daily conversations.
The data shows FMCG brands are attractive and desirable if they fuel the passions and interests of their consumers, but the data tells us this doesn’t lead to consumers willing to pay more. But if the brand gives people something to talk about, they are willing to spend more on the brand.
Brands such as Knorr are giving their consumers something to talk about with their friends and families with activations such as their ‘Auntie Reply’ campaign. Due to Thailand being a highly collectivist society, not only do brands have to play an active role in people’s lives, but they have to shape culture in a way that gives people an opportunity to come together and something to talk about when they do.