Content Economy
The "content economy" encompasses individuals and organisations that generate revenue primarily through creating and distributing digital content. This includes content creators who build online audiences and monetise through advertising, subscriptions, merchandise, and brand partnerships.
Social media platforms and surging demand for digital content fuel this rapidly growing trend.
The Southeast Asian Transformation
Influencer marketing is fundamentally reshaping Southeast Asia's e-commerce landscape, currently driving 20% of online sales and projected to reach $125 billion by 2027. Platforms like TikTok Shop and Instagram have evolved from simple social networks into powerful commerce engines for influencers—a groundbreaking shift in the digital ecosystem.
As traditional advertising declines, influencers have emerged as the new storytellers, building authentic connections, especially with Gen Z and millennial audiences.
Key Market Insights
The 2024 Southeast Asia eCommerce Influencer Marketing Report, a collaboration between impact.com and Cube Asia, reveals changing consumer behaviours across Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Vietnam through comprehensive surveys of consumers, brands, agencies, and influencers.
The report identifies six critical trends:
- Trust as Currency: 80% of Southeast Asian consumers rely on influencer recommendations for purchases, with Thailand leading at 92%. Authentic partnerships outweigh follower count in driving impact.
- Full-Funnel Influence: Influencers now shape the entire customer journey beyond awareness. Mega-influencers build awareness while micro- and nano-influencers drive conversions.
- Subscription Growth: Influencers significantly boost subscription sign-ups, particularly in Health, Wellness & Food and News & Literature categories. Malaysia shows the highest influencer impact on subscriptions at 89%.
- Travel Decision Impact: 78% report influencer impact on flight bookings, while 80% credit influencers for accommodation choices.
- Live Commerce Rise: 88% of Southeast Asians engaged with live commerce in the past year, with TikTok as the leading platform (75%). Key drivers include significant discounts (71%), product reviews (66%), and entertainment value (50%).
- Platform Specialisation: Companies are investing in dedicated tools and platforms for effective influencer partnership management.
The Bottom Line
Influencers have become essential to marketing strategies across Southeast Asia, driving conversions for products, travel, and subscription services. Brands that ignore influencer marketing risk falling behind.
Get In Touch
For more information please contact Michael Velten.
michael@veltenadvisors.com
+6590687547
37 Ann Siang Rd, Singapore 069715
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