Asian megacities to spur product innovation: Trendwatching.com

In its first report on trends in Asia-Pacific, the intelligence firm said the challenges in megacities, which are known as ‘maximum cities’, intensify as urban populations rise.

“More consumers than ever are hungry for new solutions that address living space, transport, resources and the ongoing desire to cram more into every moment,” according to the report.

The report was prepared by the company's Singapore office, which opened in September. Led by Tara Hirebet, this first Asian office aims to offer more Asian content around consumer trends.

Citing statistics from the UN Urbanisation Report of April 2012, the reporty noted that Asia-Pacific would have a total of 22 megacities by 2025, from the 13 megacities last year. In contrast, Latin America will have a total of six megacities, with two each in Africa, Europe and North America by then.

Trendwatching.com stated that the demand for innovation that extracts maximum value from every space is increasing due to population explosion and "swinging singles". This phenomenon, it noted, will lead to more micro homes, micro appliances and going ‘vertical’ in megacities.

Korea-based Daewoo Electronics, for example, created the world’s first wall-mountable washing machine. Designed for city-dwellers with limited floor space, the mini washing machine is about one-sixth the size of a regular washing machine.

Meanwhile, The Sky Greens farm, which opened in October in Singapore, is going vertical as it grows organic vegetables in 30-foot-tall hydraulic troughs.

Megacities also bring opportunities to the two-wheeler transport brands. Trendwatching.com noted brands, businesses and public services are now making the switch to offer suitable two-wheel products for megacity living. Public services on two wheels, such as courier, ambulance and firefighting will become more common.

“In search of a lifestyle both flexible and sustainable, consumers are also embracing eco-friendly two wheelers,” it added.

Annual sales of electric two-wheel vehicles in Asia-Pacific are expected to reach 65.5 million units in 2018, according to Pike Research in April 2012.

Megacities are often known as 'cities that never sleep', hence 24/7 services are also critical, not only by the likes of convenience stores, but also large retail and delivery services. One example cited is McDonald’s, which offers 24/7 delivery in several Asian markets.

Time-poor Asians in such cities are also looking at services that allow them to multitask or to finish their tasks faster. Online TV Portal PandoraTV, for example, created a Live Sports Broadcast app that enables users to order home-delivered food while providing sports broadcasts.

Other services include peer platforms, which help consumers connect with one another for task outsourcing, as well as concierge services.

Trendwatching.com noted that Asians in megacities have also been redrawing the line of acceptance, and that they want to be “delighted, amused and shocked”. For example, Hong Kong-based lifestyle retailer G.O.D. (Goods of Desire) launched an unconventional eight-piece mooncake collection for the Mid-Autumn festival last year, with each mooncake featuring a different humorous design based on mooning buttocks.

The report also noted that young people, especially Chinese urbanites, enjoy a 'so-fake-it's-real' experience, which the report calls ‘faketastic’. “Chinese shanzhai or ‘copycat’ culture persists, but it is not about slavish imitation," the report said. "It’s about innovation, improvement and customisation for local relevance." Homegrown ‘faketastic’ alternatives are likely to become common as more Chinese consumers are exposed to the world yet foreign travel remains out of reach for many.

The Yujiapu Financial Centre in Tianjin is a financial centre, for instance, replicating Manhattan in likeness and scale, with skyscrapers modelled after iconic New York locations such as the Rockefeller Center and Tishman Twin Towers. It is slated for completion in 2019.

The report's author, Tara Hirebet, has contributed opinion columns to Campaign Asia-Pacific.