Accenture’s latest report on consumer electronics products and services is an eye opener to consumer quest for innovation, technology and social networking in emerging markets. The study referenced in the report is based on a vast sample of 16,000 from China, France, Germany, India, Japan, Malaysia, Singapore and the United States. The results show that innovation is more likely to be a driver of electronics purchases in emerging markets than in mature markets. Almost all (94 percent) of respondents from emerging markets consider it important to buy most innovative technologies, compared with 82 percent of respondents from mature markets. Moreover, consumers in emerging markets purchase technologies more frequently and spend more on these devices.
Emerging market consumers desire to get the most out of the latest in technology is also evident in their use of social media. Simply put, they are more likely to be active on those channels that are cast as niche in mature markets. Consistently, emerging market consumers are more likely than their counterparts to tweet, watch videos on mobile phones, write blogs, contribute to Wikipedia, play video games on the go, participate in online communities and connect with people on social networks.
Given emerging markets’ intensity of using social media, one might hypothesize that online word of mouth campaigns with appealing messages could take off faster and go further in these areas. The differences between the two groups point to the significant role culture, values, norms, and aspirations play in peer-to-peer communications.