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Millennials is a unique generation that will reshape our economy. Marketers who are targeting Millennials will have to rethink their strategy and outreach to capture their behaviours. Here are some of their top traits:
1. Millennials are highly connected
Millennials grew up in the age when mobile technologies are part of their everyday life. Nowadays, every millennial has their own mobile device, giving them the ability to stay connected with each other 24/7. Unlike the other generations, the most important thing in most Millennials’ lives is their mobile device. They are confident with the information they find through the mobile device.
2. Buying decisions
Millennials browse and shop on their mobile phones. According to Forbes 2017, 66% of Millennials like a brand or company on Instagram and Facebook as well as follow a business or brand on Twitter or do subscription with the purpose of getting the discount or other benefits that they cannot get in store.
3. Social media is key
There are several popular social media platforms among the Millennials such as Facebook, Instagram, Twitter, Pinterest, Snapchat, etc. Younger Millennials choose to access information via their laptops over mobile devices, whilst older Millennials prefer to use mobile devices to access information.
4. Peer influence
Before buying the products, 75% Millennials read online reviews and blogs. They want to know how good the product is before they trust the brand. Once they trust the brand, they will be loyal towards the brand. They also influence their friends’ purchase decisions through sharing and exchanges.
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For the first time in history, Asian companies overtook US counterparts in term of receiving VC investment. According to PwC and CB Insight MoneytreeTM report Asian companies received $19.3b VC funding, whereas $18.4b was recorded in US companies in the second quarter of 2017. Also, VC funding by amount in Asia doubled from the first quarter of 2017.
Asia’s VC investment leader board this quarter was propelled by Didi Chuxing receiving $5.5b and a series of over $1 billion deals, namely: One97 Communication $1.4b, Go-Jek $1.2b, Bytedance $1.0b and Ele.me $1.0b. These deals are also the top five largest deals by amount globally recorded in the quarter. Compared to last year, Asia VC deals were driven by two mega deals of Alibaba acquiring Southeast Asia’s e-commerce platform Lazada for $1b, and investment round funding by Softbank in ride-sharing application Grab for $750m.
R3D Global’s Chairman, Alberto Migliucci, said “Technology remains the driver of VC growth in the region, especially, China, India, Singapore, and Indonesia. We are seeing growing interests from Asian investors into Asia and Australia for selected deals, especially Fintech and increasingly in the natural resources space.”
Billion-dollar deals are very rare, even very unusual in Asia except China. The growth of such huge deals is an indication of rising influence of the continent in the consumer internet and technology start-up sector in India, Singapore, and Indonesia. Globally, as much as $42.9b VC deals were recorded in Q2 2017- meaning that for every dollar invested globally, 45 cents went to Asia.
Asia’s mega round deals worth $100m or more rose roughly 42% by deal counts compared to the quarter from 19 deals in Q1 2017 to 27 deals in Q2 2017. Meanwhile, mega deal in the US rose from 18 deals in Q1 2017 to 32 deals in Q2 2017, or 78% increase.
Over the past eight quarters, Asia has seen robust fundraisings and healthy deal flows from domestic and international investors targeting start-ups. This has set the region as a key player in the global industry. With Trump administration focusing to look inward, Chinese investors are looking for a new region to pour their monies into. South East Asia is expected to the be next growth region, which is seen to become a home for $290b e-commerce, online travel and online media industry. Many experts agree that Singapore has become start-up hub of venture capital. Compared to the Silicon Valley, Singapore is still relatively young and there is a positive trajectory that the landscape continues to mature over the next few years.
In Australia, $300m VC investments were recorded in the second quarter of 2017, a notable rise from $117m in the previous quarter, according to KPMG’s Venture Pulse report. Based on deal counts, Q2 2017 marginally rose to 36 from 25 in Q1 2017. Whist this figure is not significant, Australia is still working to become a global player.
Australia’s Minister for Industry, Innovation and Science, Arthur Sinodinos, understands the importance of VC to foster growth of productive and competitive businesses as Australia transitions to be a more-diversified, knowledge-based economy. A range of measures under the National Innovation and Science Agenda has been introduced to attract greater interests to early-stage equity finance in Australia.
R3D is well-positioned to assist companies to access the Australia- Asia market. Headquartered in Sydney and supported by affiliates in Asia, we act as a bridging platform between companies and investors by leveraging the right market knowledge, capital connections, and publicity channels.
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