After the epidemic, the economy has faced many changes from the governments to businesses. Google recently released the 2022 “Think with Google Year in Search” report, revealing the three major search trends of Hong Kong users. The following is a synthesis of some insights into market changes and marketing trends, which I think are worthy of reference for business owners.
The general trend is the market’s pursuit of tailored services. Everyone is unique and has unique needs and requirements, and the traditional one-size-fits-all services and products no longer meet customer needs. Thanks to advances in technology and the application of new data management tools, companies should provide customers with personalized services as much as possible.
Consumers expect to interact with brands
In the post-epidemic era, consumers’ expectations for products and how they choose to receive product information have changed. The global marketing company TEAM LEWIS and the market research institution GWI (Global Network Index) jointly published the latest marketing trend report in 2022. The report covers a total of 13 countries and regions. Screen time continues to rise in most markets, including Hong Kong. Hong Kong consumers have the second highest average mobile screen time in the world.
The report pointed out that successful marketing cannot rely solely on conveying a single brand message. Consumers expect to interact with brands and expect brands to deliver unique experiences in a personal way.
Key marketing channels include websites (42% of Hong Kong consumers said they would visit a brand’s website) and brand apps (21% of Hong Kong consumers said they had downloaded or used an app to interact with a brand).
New trends indicate from the top three search keywords
Take keyword search as an example. Today, most people are used to entering keywords into the search engine to find the information they need whenever they encounter a problem. The keyword trends and records derived behind it become very effective data indicators. It helps companies understand consumer interests and needs, so as to shape the purchasing process that suits consumers and promote business.
Google recently released the 2022 “Think with Google Year in Search” report, revealing the three major search trends of Hong Kong users, business owners can take that as a reference to understand consumer preferences and determine future development strategies.
First, Hong Kong people attach great importance to the pursuit of self-worth and personalization. Their searches for keywords including “culture” increased by 30% year-on-year, and searches for keywords mentioning “mental health” also increased by 20% year-on-year; the report also indicated that one in three Hong Kong people believed that shopping products with local community elements are important.
Second, Hong Kong people pursue cost-effective products, and 40% of consumers will consider their actual needs for products before shopping, reducing impulsive purchases. Data shows that Hong Kong people’s searches for phrases including “CP value” increased by 6% in 2022 compared to 2021. The search interest for phrases including “hidden world” also increased by 20% year-on-year, reflecting that Hong Kong consumers tend to consume in a pragmatic way, and price is no longer their only consideration.
Third, the sense of uncertainty during the epidemic has made the general public eager to pursue happiness and hope to seize every opportunity to enjoy life. Search interest for “buy now, pay later” and “new hotel” increased by more than 100% and 130% respectively.
Although the epidemic has frustrated many economies, after three years, it has inspired market creativity and recognized the importance of “change”. By observing consumer behavior, changes in market trends, and the evolution of technology, it’s worthy to think through which core principles of the brand cannot be changed, which must be adjusted immediately, and which strategies should be prepared. I suggest the business owners should get ready for the future challenges. Grasp the opportunity to win in the post-epidemic era.