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FMCG

Brand loyalty used to be the moat. Now it has to be re-earned.

Across Southeast Asia, local heroes are gaining share and shoppers are trading on value. Loyalty is no longer a reliable moat — it must be re-earned through price, functionality and emotional relevance. We help FMCG leaders prove where they still command a premium, and where they are being commoditised.

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Market signals

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Signal 01

Consumption Up, FMCG Soft

SEA private consumption is projected to grow ~8% a year to nearly US$5tn by 2035, yet FMCG growth softened through H1 2025 — 42% of shoppers now seek the same products cheaper and ~25% switch brands for value (Bain & NielsenIQ, 2025).

whether to hold price and defend value perception, or adjust the range and pack-price architecture as shoppers trade down.

Signal 02

Local Brands Take The Value

Local and regional manufacturers have captured more than 50% of FMCG value across several SEA markets — strongest in Indonesia, Thailand and Vietnam, on faster innovation and deeper distribution (Bain & NielsenIQ, 2025).

how to respond to local challengers — match their speed and distribution, acquire, or cede categories where the brand can't win.

Signal 03

Private Label Turns Structural

Private label is gaining structural acceptance — 54% of APAC consumers say they are more likely to buy it than ever, strongest in Thailand (64%), India (61%) and Indonesia (55%) (NielsenIQ, 2025).

which categories still justify a branded premium, and which to defend differently as private label gains acceptance.

Signal 04

Discovery Migrates To Social & AI

Discovery has migrated to social and AI — social commerce is ~20% of SEA e-commerce and 85% of shoppers use or plan to use AI in purchase decisions. Regional FMCG value growth (>4%) outpaced Asia's 2.8% average (Bain & NielsenIQ, 2025; ASEAN-BAC, 2025).

how much to shift budget and capability into the social and AI-led path to purchase, and how fast.

Sources: Bain & NielsenIQ (2025); NielsenIQ (2025); Kantar (2025); ASEAN-BAC (2025).

Where FMCG is heading

The incumbency of multinational brands is breaking, and the loyalty moat has to be rebuilt on relevance and speed.

Local and regional manufacturers now hold more than half of FMCG value in several markets. Private label is gaining structural acceptance, discovery has migrated to social and AI, and shoppers are deliberate. Brands that cannot prove functional and emotional value — and act on the social/AI journey — lose penetration and the discovery battle before the shelf.

The decisions on the agenda
  • Re-earn the right to win as loyalty erodes

    Defend penetration as ~25% of shoppers switch brands for better value and Chinese and local players drive price wars.

  • Compete with local and regional heroes

    Respond to local manufacturers now holding >50% of FMCG value through faster innovation and distribution.

  • Optimise portfolio and expansion with less budget

    Make launch, pricing, format and market-entry calls with tighter budgets and less room for error.

  • Win the AI- and social-led shopper journey

    Reach shoppers where discovery has moved — social commerce and AI-assisted decisions.

How we help

We bring the shopper, brand and category evidence FMCG brands need to re-earn value

Social & AI journey

Social-commerce and AI-discovery path-to-purchase measurement.

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Penetration & loyalty

Brand health, switching and value-perception tracking.

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Competitive response

Local-hero benchmarking and innovation evidence.

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Portfolio & pricing

Price, format and concept testing for tighter budgets.

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Curious to see how we drive success in the FMCG market? Contact our experts to learn more about the solutions that fit your goals.

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Intelligence

The shopper view brands benchmark against.

Our FMCG brand-health tracking, audience profiling and category intelligence give brands an independent read on where loyalty holds, where value is eroding, and where discovery is moving.

Expertise that drives success

Meet our FMCG strategists

Nguyen Thi Mai Tram

Nguyen Thi Mai Tram

Director, Head of Insight Velocity Practice

Ho Ngoc Quy Han

Ho Ngoc Quy Han

Associate

>50%

of FMCG value now held by local and regional manufacturers

~25%

of shoppers switching brands for better value

Bain & NielsenIQ (2025)

We work with FMCG brands across Southeast Asia — bringing the shopper and category evidence that shows where a brand still earns its premium.

Reports & downloads
Rankings

Decision Lab Best Retail Rankings 2024

Decision Lab Best Retail Rankings 2024
Trend Report

Tet Consumer Path-to-purchase Report

Tet Consumer Path-to-purchase Report
Trend Report

Vietnam Consumer Research 2024

Vietnam Consumer Research 2024

Ready to decide with evidence?

Tell us the question you are trying to answer. We will show you the shortest route to a defensible answer — and what it costs.