Conquer The Asian Dragon:
How To Penetrate Asian Markets
Asia’s growth potential has been attracting significant investment from Western businesses. With a rising middle class, consumers in Asia are playing a critical role in the world economy. In particular, 17% of global consumption is from Chinese and Indian consumers alone. Western companies have been prioritising their operations in Asia to expand their presence in this region. Consumer goods giants like Unilever, Procter & Gamble, and L’Oreal have their own regional hubs in Asia along with satellite offices across the continent. Yet, the diverse and unique cultures and business environments bring critical challenges.
Asian culture is complex and diverse
Due to having avast geographical area, Asia is a mosaic of distinctive demographics and diverse cultures. At the first glance, Asian countries seem to be similar; yet, most of these countries share very little in common in culture and belief. Thus, consumers come from a variety of ethnic and cultural backgrounds. For example, Indian consumers prefer a vegetarian meal while Middle East consumers follow strictly a Halal diet. Therefore, the traditional one-size-fits-all approach is out-dated in this diverse environment. Businesses have to tailor and customise their products and services to meet the complex needs of different consumer groups.
Asian markets are dynamic and ever-changing
Besides the diverse and complex characteristics, Asian consumers’needs, tastes, and preferences also transform relentlessly. On top of that, comparing to their counterparts, Asian shoppers are more tech-savvy so they tend to adapt new trend more quickly. The speed and scale of change in Asian markets can surprise even local and experienced executives. Due to the changeable nature of the market, Asian consumers tend to be more demanding. Singaporean e-commerce consumers, for instance, are amongst the hardest shoppers to please. To cope with this unstable and demanding market, global businesses should establish a dynamic team of local experts to provide up-to-date market and culture trend.
Cultural Intelligence as the stepping-stone
In order to successfully penetrate and operate in Asian markets, it is crucial for companies to develop cultural intelligence and adapt to the complex and ever-changing market. At fundamental levels, businesses need to build a team of local experts to consult, plan, and implement a penetrating plan. However, establishing a new local team may require a high monetary and timing cost. Therefore, teaming up with companies with established local experts is more efficient to conquer this potential yet challenging environment.
Localisation is key to success
As Asian consumers are tech-savvy, businesses can open the gate to the market by localising their online presence. Different from translation, localisation adapts content, products, or services to a specific locale or market. For instance, Uniqlo adapts different visual and layout for their website in various markets, such as in Japan, in the UK, and in the US. Localisation includes a comprehensive study to correctly adapt to the local needs, which comprises of cultural variations such as language, design, terminology, metaphors, etc.
At elionetwork, your one-stop provider for translation services in Singapore, have a team of Asian experts who understands local cultures just as natives. Our multi-cultural intelligence coupled with our strong experience in localisation, technical writing, transcreation, and interpretation can provide you the most culturally accurate services to penetrate and operate in the Asia market. Get in touch with us today to learn more about how you can conquer Asian consumers with our translation services.