Unveiling the Future: 5 Key Takeaways from IIEX APAC 2024

In the ever-evolving landscape of market research, the IIEX APAC conference showcased a dynamic blend of innovation and a return to fundamental principles. Attendees witnessed a surge in clients' willingness to embrace artificial intelligence, a call to reconnect with consumers, the enduring power of storytelling, the importance of bold transformations, and the unexpected competition from unconventional sources. Let's delve into these key takeaways that are reshaping the market research landscape.

AI's Leap Forward: Transforming Research Methodologies

A notable trend highlighted at IIEX APAC is the substantial leap forward in clients' readiness to adopt AI technologies. This shift aims to replace traditional research methodologies, making the process more agile and cost-effective. Behaviorally’s product stack has adapted to this shift as we incorporate AI in all of our offerings such as GLADYS and Pack.AI™. The precision, speed, and scale with how we can predict packaging effectiveness has evolved and AI has been an instrumental tool in enabling us to provide data intelligence to clients with which they can confidently make packaging decisions.

Predictive modeling is gaining traction as a replacement for consumer testing in areas such as marketing mixes. AI-generated eye-tracking heatmaps predict attention for creatives, packaging designs, and e-commerce assets. The inclusion of behavioral measures, beyond mere attention, offers a more holistic understanding of consumer behavior, thereby enhancing the credibility of research databases.

Back to Basics: Getting Close to Consumers through Ethnography

Despite the surge in AI adoption, there remains a strong recognition of the necessity to blend traditional methodologies with cutting-edge technologies like AI. While AI offers unprecedented insights, there’s an enduring importance placed on reconnecting with the fundamentals – understanding consumers through in-depth ethnographic studies and immersive shop-alongs. Mondelez, a prominent advocate, emphasizes the importance of developing products based on genuine consumer needs. The sentiment is clear: consumer research should not only gather intelligence but build empathy. Integrating this return to basics with AI-driven analyses establishes a holistic approach, facilitating a profound connection with consumers and unearthing crucial pain points and unmet needs critical for product innovation.

Storytelling in the Age of Data Overload

In an era flooded with data, effective storytelling remains paramount. The ability to communicate insights and trends derived from complex data is crucial. IIEX APAC emphasized the need for crafting compelling narratives that resonate with diverse audiences, bridging the gap between data and understanding. As the volume of available data continues to rise, mastering the art of storytelling becomes a key skill for market researchers.

Bold Transformations: The Path to Business Success

The conference underscored the necessity of bold transformations to thrive in a rapidly changing market. Cathay Pacific and GQ Apparel shared their transformative journeys, highlighting the importance of recognizing problems, embracing change, and differentiating oneself from competitors. Cathay Pacific's "one extra inch" campaign, linking legroom to privacy, exemplified a return to their roots and a successful differentiation strategy. Meanwhile, GQ Apparel's transition from a traditional Thai brand to a tech apparel market leader showcased the power of insights in driving radical change. Both stories emphasize the need to be constantly innovative, pushing boundaries, and transitioning into digital and AI-focused companies to meet evolving market demands.

Unexpected Competition: Meta's Open-Source Marketing Mix Platform

IIEX APAC revealed a surprising aspect – competition can emerge from unexpected quarters. Meta's open-source marketing mix modeling platform, Robyn, disrupts the market by enabling businesses of all sizes to build in-house marketing mix models that drive business outcomes – and all for free. This unexpected competition serves as a reminder that innovation can emerge from unconventional sources, challenging traditional players to stay vigilant and adaptive

At Behaviorally, our use of AI and expansive behavioral databases revolutionizes packaging and e-commerce visual asset testing, bringing accelerated results, enhanced agility, and predictive success. 

Contact us today to learn more about how our AI product stack can help you own the most valuable moment in marketing: the transaction.

THE AUTHOR

Nichole Gu is the Managing Director of Asia at Behaviorally, based in Singapore. She oversees operations throughout the APAC region including Singapore, China, Australia, and the Middle East. Nichole specializes in building strong client relationships and understanding consumer decision-making through a behavioral framework. She provides actionable insights for driving shopper growth. Prior to Behaviorally, she held various senior positions at firms in the region, including Kantar (TNS & Research International) and PRS IN VIVO.

Connect with her on LinkedIn!