In Taiwan, consumer groups’ generational differences disclose a lot about their lifestyles, as well as their tastes and spending habits. Companies must adapt their products and marketing strategies to meet market demand and boost their chances of market success.
Types of Spirits Consumer in Taiwan
The Social Experience Seekers
This is the newest generation of customers, Generation Z. (20 years old and below). They’re known as trendy drinkers since they’re always the first to try new items on the market and are drawn to those with appealing designs and packaging. Gen Z is more inclined than previous consumer groups to be affected by ads and make impulsive purchases.
Drinking alcohol has a social context for the Social Experience Seekers. They enjoy drinking spirits when socializing with friends, at parties, or at other social occasions. The majority of them drink to unwind and relax after a long day. This group, which is young and adventurous, enjoys experimenting with novel flavors and combinations. Brands that reflect who they are and what they enjoy are appealing to them.
The Cultured Connoisseurs
These are the state’s Millennials (aged 21 to 34) that have a strong interest in alcohol and are eager to share their expertise with others. They are often in quest of something unusual or new to discover because they are sociable and have money at their disposal. When they’re out to dinner with pals, they like to drink a lot of alcohol. These youthful customers are also known for purchasing high-priced items that they believe are worthwhile.
The Cultured Connoisseurs are frequently described as mercurial, with fast shifts in brand loyalty. They have a lifestyle atmosphere that is termed as experiential. They require a significant amount of investment to persuade them to stick to a single product because they are more educated and more digitally savvy. To be patronized by this segment, brands must demonstrate their authenticity and relevancy.
The Easy-Going Bon Vivants
Taiwan’s Generation X customers are in the most stable stage of their lives, working full-time and often with their own families (35 to 49 years old). Their little income enables them to enjoy life and indulge in activities that bring them delight. They consider drinking to be an important part of their daily lives, a posh pastime that reflects their refined taste. These drinkers enjoy sipping spirits after a long day’s labor, whether alone or with others.
The Uncomplicated Bon Vivants are the state’s most mature and educated consumers. They recognize the relevance of product value and are more likely to stick with a particular brand. This group is nostalgic, and quality, value for money, and enjoyment are important to them. They’re also big fans of social media and internet shopping.
The Shrewd Traditionalists
Taiwan’s Baby Boomers (50 to 64 years old) and Silent Generation make up the oldest of the consumer groups (65 and up). They are generally linked with long-established spirits such as brandy, cognac, and whiskies, and they prefer to avoid trying new goods. While they enjoy consuming alcohol on occasion, they do so primarily for special occasions.
These elderly customers have more spending power than other demographics due to their substantial savings, pensions, and investments. They spend more money on items and services that improve their quality of life. The Shrewd Traditionalists, on the other hand, are financially astute and can be very price sensitive when making purchases.
While Taiwanese consumers may not have a long history of drinking spirits, they have been increasingly open to a larger range of alcoholic beverages in recent years. Companies have learned to adapt their marketing strategies to match the market’s changing consumer segments and cater to the evolving interests of drinkers. We’ll go over how to properly appeal to each demographic in upcoming articles.