Asian Endorsers Are Now More Sought-After Than Western Celebs
Cosmopolitan Philippines
10 October 2024
Fair skin, blue eyes, and blonde hair—these were once the dominant standards of beauty in the Philippines. And it left those with morena skin, brown eyes, and dark hair feeling sidelined, despite these being the natural traits of many Filipinos. We can't deny it—people continue to buy into Western standards of beauty. It's promoted everywhere, from social media to billboards and magazines. But guess what? It seems like we're in a progressive era where beauty is no longer something the West gets to define for us. Instead, it's becoming something we're learning to embrace and redefine ourselves.
ICYMI, a recent report by Canvas8 titled "How are Southeast Asian shoppers changing luxury?" revealed a significant shift in the beauty landscape of Southeast Asia, including the Philippines. Brands are now featuring individuals with Asian features, replacing the once-dominant Western celebrities. This shift reflects a growing appreciation for local beauty standards and a move toward more authentic representation in the region.
Why Brands Are Getting More Asian Endorsers In Southeast Asia
"For the past two decades, the Asian economy has been continuously growing. The Asian luxury consumer has become a powerhouse (in) purchase and spending," says Jose Legaspi, former marketing professor at De La Salle University and a contributor of the Canva8 report. "Top luxury brands are now focusing their marketing efforts to sign up Asian endorsers that represent their current biggest market," Jose added.
The faces of renowned Western luxury brands such as Lancome, Gucci, Dior, and Valentino now include Filipino stars like Kathryn Bernardo, Anne Curtis, and Heart Evangelista. This growing trend is no coincidence, as Southeast Asia has become a booming market for beauty and luxury products, with the rise of UHNWI (ultra-high net worth individuals with net worth of at least $30 million or around P1.7 billion).
The SEA luxury market is projected to generate $16.01 billion in 2024, up nearly $2 billion from the $14.38 billion earned in 2022. This growth is driven by a rising wealthy population, with Singapore, Malaysia, and Indonesia leading as the fastest-expanding UHNWI markets.
Notably, Asia's UHNWI demographic has an average age of 62.6 years, making it the youngest globally. Southeast Asia is also becoming a top destination for HNWI's from other countries, attracted by the region's lower cost of living and opportunities to maximize their wealth.
The Power of Asian Endorsers
To thrive in SEA's market, brands must grasp the consumer behaviors shaping the region. Younger shoppers are increasingly influenced by pop culture, with a substantial portion of their purchasing decisions swayed by celebrity endorsements. Asian stars, in particular, play a pivotal role in driving this trend, as their impact resonates profoundly with these youthful and aspirational consumers.
More than 82% of SEA shoppers have made purchases based on celebrity or influencer recommendations. K-pop enthusiasts are known to spend between $300 and $2,200 on merchandise, albums, and concert tickets. The report cited an example which is the BTS x McDonald's collaboration, which caused several branches in Indonesia to temporarily shut down due to overwhelming demand.
In the Philippines, brands like Bench and Penshoppe compete to secure endorsements from top Korean celebrities, offering fan meetings and exclusive merchandise to enhance fan engagement. Local celebrities are also gaining traction in endorsements like BINI, securing top brands like Jollibee and Shopee.
For Gen Z, luxury spending is often a form of self-expression and loyalty to their idols. Whether it’s Thai actors, Korean K-pop stars, or local SEA celebrities, these endorsements heavily influence purchasing decisions. Aside from that, consumers expect deeper cultural relevance with the brand.
No comments:
Post a Comment