hey co-authored, Unravelling Asia’s Complex Consumer Landscape, about how the apparent simplicity of consumer priorities masks a far more complex reality. Price vs quality: a misleading trade-off The authors analysed responses from 3500 consumers across Asia to assess spending intent and key purchase drivers, finding that value and quality remain the dominant influences across most retail categories in all 11 markets: Mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Thailand and Vietnam. At first glance, the dominance of price and quality appears straightforward. But Bourdiniere argues this conclusion can be misleading, particularly when comparing mature markets like Japan and Singapore and emerging markets like Vietnam, the Philippines and Indonesia. In highly developed markets, quality is largely taken for granted. Strict compliance standards mean consumers rarely question whether a product is safe or fit for purpose. As a result, competition shifts toward price – specifically, who can deliver acceptable quality at the lowest cost. In less mature markets, however, quality still carries weight as a decision-making factor. Consumers are not only evaluating affordability but also whether products meet acceptable standards of safety and reliability – concerns that have largely receded elsewhere. This does not mean consumers in these markets are less price-sensitive. On the contrary, they are often more so. But relative to their context, quality remains a more active consideration. The result is a trade-off in which price and quality are not competing priorities so much as intertwined. Sustainability: rising, but not yet decisive If price and quality form the foundation, sustainability sits in a more ambiguous position: Important, but not yet fully embedded in consumer decision-making. “There is often a certain dichotomy between what consumers say about sustainability and how much they are willing to pay for it,” says Texier. “I’m not sure they yet expect sustainability to be an ideal factor for all players in Vietnam, for example.” That gap between intention and action reflects the relative immaturity of sustainability as a purchasing driver. Bourdiniere notes that the issue gained significant traction during the Covid-19 pandemic, when concerns about public health, the environment and long-term resilience surged. “Just after Covid, we saw very clearly a lot of concerns about public health, about sustainable products, about the weather, the environment, and the planet,” he says. “All of these concerns were very high in the minds of consumers.” However, those concerns have since been tempered by more immediate pressures. Inflation and geopolitical uncertainty have pushed sustainability down the priority list – at least for now. “So let us say this concern is maybe less of an area of focus for consumers now,” Bourdiniere explains. “But maybe in a year or two, or maybe less, it is going to return.” Crucially, he cautions against interpreting this shift as a long-term decline. Sustainability, he argues, is still in its early stages as a consumer priority – less than a decade old in its current form. As such, its role relative to price and quality is still evolving. For brands, the implication is clear: even if sustainability is not consistently driving purchasing decisions today, it remains a strategic advantage. Consumer expectations may fluctuate year to year, but the broader trajectory points toward greater, not lesser, importance. Loyalty: Strong, but increasingly fragile If sustainability is still finding its footing, brand loyalty presents a different kind of paradox. Texier describes loyalty in Asia as “a very nuanced picture”. On one hand, brand equity remains powerful, particularly in categories such as luxury, where heritage and prestige continue to carry significant weight. On the other hand, consumers are more willing than ever to switch brands – especially when presented with compelling alternatives, often locally developed. “We see brand equity has been a very strong pull overall in Asia, but we see also a fairly high propensity or willingness to switch brand,” he says. “So there is a contradiction in the consumer psyche.” This trend plays out differently across markets. In countries such as Japan and South Korea, domestic brand loyalty remains strong. In China, loyalty to local brands has grown significantly over the past decade, reflecting improvements in quality, marketing and cultural relevance. At the same time, global luxury brands – particularly from Europe – continue to command strong appeal, underscoring the enduring value of heritage in certain segments. The rise of local brands A key factor reshaping loyalty is the rapid rise of local brands, which are increasingly able to challenge established global players. Bourdiniere points to two critical advantages. The first is local resonance – the ability to connect with consumers through shared culture, values and identity. The second is agility, particularly in digital ecosystems. In markets such as China, local brands are often more deeply integrated into domestic digital platforms, allowing them to identify and respond to trends faster than international competitors. Without the constraints of global organisational structures, they can innovate more quickly and tailor offerings more precisely. This combination of relevance and responsiveness is proving powerful, particularly in categories where consumers are open to experimentation. Texier highlights a growing cohort of Asian luxury brands – including Taiwan’s Shiatzy Chen, Korea’s Gentle Monster and China’s Documents – that are gaining traction by addressing gaps left by global players. While a global brand designing for a worldwide audience may struggle to understand the nuances of a local market, a homegrown brand can focus more narrowly and effectively. “If you are a luxury brand, and you create a collection to capture the whole world, it is very difficult versus being a homegrown Chinese luxury brand, able to capture the Shanghainese woman,” he says. “What we see is a more nimble, smaller local player that can capture consumer trends much more quickly and effectively. They can at least fill a gap that a big luxury brand could not manage to.” A decade in the making The emergence of competitive local brands in Mainland China is not a sudden phenomenon, but the result of a decade-long evolution. Bourdiniere traces this back to the early 2010s, when international brands concentrated on China’s largest eastern cities. As growth shifted toward lower-tier cities in the west, local players stepped in to meet demand with more affordable alternatives. These brands built scale and profitability in these markets, reinvesting over time to improve quality and design. As a result, many are now well-positioned to compete in higher-tier cities, offering products that rival international brands on both price and innovation. “So it is not so much of a surprise to me that we see those brands now competing in the big game,” Bourdiniere says. “They have been learning and making a lot of progress all these years.” Omnichannel: Expectation vs differentiation Beyond product considerations, the way consumers shop is also evolving – particularly with the shift toward omnichannel retail, which is especially essential in markets like China. Across Asia, consumers increasingly expect seamless integration between online and offline experiences, the authors share. They want to research products online, experience them in-store and purchase through whichever channel is most convenient. However, the extent to which this is an expectation – or a differentiator – varies according to market maturity. In developed markets, a strong omnichannel offering is now a baseline requirement. Retailers without it risk falling behind. In emerging markets such as Vietnam and the Philippines, however, logistical challenges – particularly around last-mile delivery – make it harder to achieve full omnichannel capabilities. As a result, brands that can deliver a seamless experience stand out as more sophisticated. Convenience as the common thread Underlying these shifts is a unifying theme: Convenience. Bourdiniere emphasises that the demand for convenience is rising across all markets, influencing both online and offline strategies. This is evident in the growth of smaller retail formats and convenience stores, which cater to everyday needs with speed and efficiency. At the same time, more discretionary categories are becoming increasingly experience-driven. Here, brands are investing in environments that enhance engagement and reinforce identity – whether through immersive retail spaces or elevated service. The result is a bifurcation of retail strategies: one focused on making life easier, the other on making it more engaging. A shifting balance Taken together, these trends suggest that while price and quality remain central, they are no longer sufficient on their own. Sustainability, though still maturing, is set to play a larger role over time. Loyalty, while still valuable, is more conditional and harder to secure. And local brands, empowered by cultural insight and digital agility, are reshaping competitive dynamics across categories. For businesses operating in Asia, the challenge is not so much prioritising one factor over another, but balancing cost, quality, relevance, and experience in a market where consumer expectations continue to evolve. Further reading: Inside Miniso: How a Guangzhou startup became a global phenomenon