Australian brands are falling short when it comes to driving awareness and positive engagement with Asian-Australian consumers, according to Bastion Cross-Cultural Insights.
The Top 100 Brands by Asian Australians study examined how well Australian brands are recognised and embraced by the Asian-Australian community. It found that Australian brands have some catching up to do when it comes to growing awareness among Asian consumers in Australia, who more readily recognise non-Australian brands than local ones.
The findings present both a challenge and opportunity for Australian brands seeking to engage with culturally diverse communities, given new and recent migrants now make up the majority of the Australian population. ABS statistics from 2021 show first- and second-generation migrants (born overseas or born in Australia to parents born overseas) now comprise more than half of the population (51%).
Despite Asian-Australians accounting for a large portion of our multicultural population, the study found Australian brands struggling to find a voice to capture the attention of the Asian-Australian consumer market.
The study revealed Asian Australian consumers to be a very brand loyal demographic, with more than eight in 10 Asian consumers (84%) reporting they continue to buy from brands they love.
The findings also revealed Asian consumers to be highly sophisticated buyers who look to the experience of others in their cultural and social circle when making brand choices. A whopping 80% said they would buy from brands recommended by friends and family.
Overall, average awareness of 100 Australian brands across the destination, events, hotels, and airlines categories was low (19% average awareness) relative to non-Australian brands (29%).
Steven Howlett, managing director at Bastion Insights, said: “More than ever Australian brands need to embrace the challenge to build awareness and a greater positive engagement with Asian Australians.
"Bastion Cross-Cultural Insights is helping Australian businesses close the gap and create opportunities amongst this important group of consumers. The Asian community is not a minority, but a powerful group of consumers that all Australian brands should be speaking to."
General manager, cross-cultural insights, Isabel Zhang said: 'Many Australian brands and organisations, remain in a very transactional relationship with our multicultural CALD communities; this will not lead to any conversions.
"The report will offer insights to our brands on building more meaningful engagements with our CALD communities, then conversion and brand loyalty.”
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