Indonesia – More than half of Glance users in Indonesia plan to increase their shopping budgets this Ramadan, with 50% expecting to spend over Rp 3m and 22% anticipating expenditures exceeding Rp 5m, according to a report by consumer technology company Glance.

Glance’s report also found that nearly 58% of Indonesian shoppers prefer to complete their Ramadan shopping four weeks before the holy month begins. Notably, big-ticket items like jewellery did not top their shopping lists, with consumers prioritising more personal and meaningful purchases.

Reflecting the festive spirit, clothing and accessories emerged as the top shopping category across both online (66%) and offline (61%) channels. Confectionery gifting was also a popular choice in both formats. Among online shoppers, home appliances (38%), beauty products (34%), and gadgets (34%) ranked high in preference, while offline shoppers prioritised groceries for home-cooked meals (53%), home décor (44%), and DIY hobbies (41%).

Glance, known for its smart lock screens, reported that during the 2024 Ramadan period, content related to ‘Mudik’ saw significant engagement, with 917.5 million glances (views) and 27 million taps.

Ramadan recipes also attracted strong interest as families prepared for Suhoor and Iftar, generating 380 million glances and 7 million taps. Stories about Eid traditions received 185.6 million glances and 4.3 million taps, highlighting widespread interest in cultural heritage.

Additionally, gaming recorded 37.9 million plays, while users spent 298 million hours watching video content. Fashion and health-related topics also drew notable engagement.

According to the report, user activity on the Glance smart lock screen platform peaked during the daytime hours leading up to Iftar, as many users spent more time on their mobile devices before breaking their fast. This period saw a notable increase in engagement with gaming—accounting for nearly 65% of users—along with a surge in time spent on OTT platforms, streaming services, and religious apps.

Bikash Chowdhury, chief marketing officer at InMobi and Glance, also stated, “Indonesian consumers are at the forefront of the digital revolution and among the most active mobile internet users in the Asia–Pacific region. They have made ‘glancing’ a massive phenomenon in the country, engaging with content across entertainment, gaming, and trends, while brand marketers tap into this behaviour to connect meaningfully with their audiences. We are excited to see Glance’s growth story continue to unfold in Indonesia in the coming years.”

“Glance has profoundly impacted how Indonesian consumers engage with content during Ramadan, where the platform saw a 30% increase in time spent and a 23% rise in engagement rates. This transformative shift presents marketers with an extraordinary opportunity to connect with an active audience building brand salience through tailored communication during this important period,” said Vasuta Agarwal, chief business officer of consumer and performance advertising at InMobi.

Singapore – Nearly two-thirds (61.5%) of Southeast Asia’s population are active on social media, accounting for 10.2% of the world’s social media identities, according to a report by We Are Social and Meltwater.

The report highlights Southeast Asia’s strong affinity for social media, with users in every country exceeding the global average of 6.83 platforms. On average, Filipinos use 8.36 platforms, followed by Malaysians (8.12), Indonesians (7.93), Singaporeans (7.24), and users in both Vietnam and Thailand (7.11).

Delving deeper, Filipinos spend an average of 3 hours and 32 minutes on social media daily—over an hour more than the global average. They also have a strong affinity for influencers and vlog content, with 44.9% following influencers on social media and nearly half (48.3%) watching vlogs or influencer videos weekly.

Meanwhile, in Indonesia, social media accounts for nearly half (42.6%) of the country’s total online activity. Two-thirds of Indonesian users actively search for brands on social media, while 82.1% use it for brand research.

Indonesians are also among the world’s most engaged TikTok users, spending close to two full days per month (44 hours and 54 minutes) on the app. Malaysia follows closely, with users averaging 42 hours and 44 minutes on TikTok each month.

Thailand ranks as YouTube’s second most engaged market, with users spending an impressive 42 hours and 14 minutes on the platform—far exceeding the global average of 27 hours and 10 minutes. Meanwhile, Singapore stands out as a top market for Reddit, with users spending 3 hours and 56 minutes on the platform each month and accessing it an average of 116.9 times.

Notably, over a third of the region also relies on social media as a source of news.

Anton Reyniers, head of strategy at We Are Social Singapore, commented, “Southeast Asia is home to some of the most active and engaged social media users in the world. With users across the region spending their time across more than seven platforms – above the global average – and more than half using social media for brand research, it’s integral for marketers to ensure they have a carefully considered strategy to capture their audience’s attention across each platform.”

“This latest report highlights the nuances across different demographics in the social and broader digital ecosystem to help marketers make informed decisions in their plans for 2025 and beyond,” he added.

The report names YouTube as the most used social platform at the start of 2025, with a user base 16% larger than WhatsApp. Instagram leads as the world’s favourite platform, with 16.6% of users pledging loyalty, followed by WhatsApp (16%) and Facebook (13.1%).

Meanwhile, TikTok’s Android users are spending almost 35 hours per month on the app, with time spent increasing by nearly two hours from August to November 2024. In terms of growth, Threads has 320 million monthly active users, with over 100 million active daily users, while Bluesky, with more than 30 million registered users, still has fewer than 25 million monthly active users.

Meltwater and We Are Social further highlight the growing importance of social media for marketers, as half of adult users now visit platforms to learn more about brands—a trend that’s steadily rising. Instagram leads in brand research, with 62.3% of users using it for this purpose, followed by Facebook (52.5%) and TikTok (51.5%). Additionally, 22% of social media users follow influencers, a figure that rises to 30.8% among women aged 16 to 24.

In 2024, global ad spend reached US$1.1t, a 7.3% increase from 2023, with digital channels now accounting for 72.7% of this investment. Online ad spend surpassed US$790 billion, growing 10.3% year-on-year. Social media ad spend rose to $243 billion, up 15%, while global influencer marketing spend increased 14%, reaching $35 billion.

“With digital ad spend exceeding $790 billion in 2024 and social media ad spend growing more than 15% within that, it’s clear that businesses are investing more than ever in capturing consumer attention. Along with this growing investment comes the growing need to prove ROI and show results based on marketing campaigns. With user behaviour on social platforms continuing to shift, teams need data to inform decisions about what platforms to prioritise and create strategies for,” said Alexandra Bjertnæs, chief strategy officer at Meltwater.

The report also highlighted ChatGPT’s growth, with its mobile app averaging over a quarter of a billion monthly active users from September to November 2024. It ranked as one of the world’s most downloaded apps, placing eighth globally. Additionally, ChatGPT.com saw 310 million unique visitors, generating 3.5 billion visits during the same period.

Toby Southgate, global group CEO at We Are Social, said, “Social is where brands can win or lose – it’s central to brand discovery, consumer engagement, and commerce. At the same time, AI is revolutionising how we search, create, and interact, while influencers continue to shape content trends and consumer behaviours.”

“The opportunities for marketers to drive meaningful engagement have never been broader, but the complexity of digital and social media – evident in our 630+ page report – means there’s no single route to success. To create effective work, brands need to understand the cultural nuances of the online world and create ideas worth talking about. Those who do will make an impact,” he added.

Hong Kong – Restaurants continue to recognise the critical role of food delivery platforms, with 93% acknowledging them as equally or increasingly essential to their business in the near future, according to a survey conducted by Deliveroo.

Deliveroo’s survey data highlights how food delivery services complement traditional dining during the festive season while also reflecting restaurants’ confidence in the market’s future outlook.

The survey revealed that the Restaurant Confidence Index rose from 5.1 in Q3 2024 to 6 in Q4 2024, reflecting growing optimism among restaurants heading into 2025. This positive outlook is largely driven by expectations of growth in both dine-in and takeaway business during the festive season.

During the Christmas and New Year period, the survey showed that 61% of restaurants reported stable or increased revenue from dine-in services, while 59% saw similar growth in takeaway. Compared to the previous quarter, around 60% of restaurants experienced stable or rising revenue in Q4 2024, with 65% for dine-in and 57% for takeaway.

Looking ahead to the mega events in Hong Kong during Q1 2025, 63% of restaurants expect Lunar New Year and Valentine’s Day to have a neutral or positive impact on their business, leading them to plan promotions and special offerings. Additionally, 28% of restaurants are preparing festival-specific menus, while 20% are organising special promotions or events.

Additionally, both locals and tourists are expected to immerse themselves in the upcoming mega events across Hong Kong, including the Hong Kong Sevens, major concerts, and cultural events. In fact, 83% of restaurants anticipate these events will have a neutral or positive impact on their business in the first quarter of 2025.

Nick Price, general manager of Deliveroo Hong Kong, said, “We are delighted to see our restaurant partners continue to view Deliveroo as an important partner of their business. Deliveroo has long been a support to restaurants to help generate additional revenue via online delivery in support of their traditional dine-in business. We are proud to provide such opportunities to this vital sector.” 

Singapore – The snacking and confectionery market across Asia Pacific (APAC) is booming, recording 10% growth in both volume and value in 2024, reaching a market valuation of US$64 billion, according to a new report from NielsenIQ (NIQ).

According to the report, the APAC snacking landscape is evolving, driven by demands for convenience, healthier choices, and a curiosity for new options, with 73% of consumers eager to try new brands. This curiosity is further fuelled by key discovery channels, including online reviews (38%), family and friend recommendations (36%), and offline visibility (31%).

NIQ’s report highlights that convenience, health consciousness, and mood-boosting snacks are key factors shaping consumer preferences in APAC.

The report reveals that convenience is the top priority for APAC consumers when choosing snacks, with 84% highlighting its importance. This is followed by preferences for low-calorie, healthier options (73%) and mood-enhancing snacks like stress relievers (69%).

Portion-controlled snacks are also growing in popularity among APAC consumers, with 33% incorporating meal kits or prepared foods into their snacking habits. 

Additionally, protein snacks are gaining popularity, with brands expanding their offerings beyond bars to include chips, ice cream, cookies, and more.

The report further highlights notable differences in healthier snack preferences across age groups. Boomers (60+ years) prioritise low-sugar options over low-calorie snacks or those with healthier ingredients, reflecting their focus on managing specific health concerns.

In contrast, Millennials (28–43 years) favour snacks with enhanced flavour, high fibre, and functional benefits, placing these attributes above low-sugar options as they balance health with versatility. Meanwhile, Gen Z (18–27 years) seeks snacks that enhance mood, offer bold flavours, and provide unique varieties, aligning with their desire for emotional well-being and novelty.

As health-conscious snacking continues to rise across APAC, NIQ emphasises that the confectionery industry is set to expand its range of health-orientated products to meet the growing demand for healthier options.

The report also found that, among APAC countries, Singapore leads the region in snack spending, with consumers averaging USD $121.30 per buyer in 2024. This marks the highest spending in the region, up from USD $119.30 in 2023.

According to the report, this growth is driven by strong performances in key categories, including gum and candy (+18%), other snacks (+15%), and chocolates (+7%) during the same period.

Beyond health, variety plays a crucial role, with 62% of APAC consumers valuing unique snack options. In Singapore, original, cheese, and spicy flavours are the top choices, while BBQ, spicy, and cheese dominate in Southeast Asia. Price sensitivity also remains a significant factor in consumer decisions, with price drops being the primary influence on brand selection.

Singapore – In a digital world saturated with information and fragmented audience attention, traditional advertising is no longer enough. Rising costs, ad fatigue, and growing privacy concerns have diminished the effectiveness of conventional ads, challenging brands to rethink their strategies to connect authentically with their audiences.

User-generated content (UGC) is emerging as a transformative solution, offering brands a powerful way to amplify their voice, foster community-driven advocacy, and build trust with consumers increasingly resistant to traditional marketing methods.

To help marketers navigate this shift, media monitoring company Meltwater has released an insightful guide, ‘Unlocking the Power of UGC for Meaningful Brand Connections.’ This report provides practical guidance for brands to harness UGC effectively and create authentic, impactful customer experiences.

The guide explores how UGC can redefine audience engagement by showcasing its ability to amplify brand authenticity, turn loyal customers into advocates, and drive meaningful connections in a fragmented media landscape.

It also outlines a three-step approach to leveraging UGC:

  1. Listening to consumer insights: Understand what resonates with your audience by actively analysing organic feedback.
  2. Engaging meaningfully: Foster genuine interactions with your community to deepen relationships.
  3. Building loyalty: Transform UGC into a long-term strategy for sustained brand growth.

Additionally, the report highlights real-world examples of brands using UGC to navigate challenges, seize opportunities, and create memorable moments that resonate with their audiences.

Teddy Cambosa, regional editor at MARKETECH APAC, said, “Amidst the noise of today’s marketplace, UGC stands out as a beacon for reshaping brand engagement—fusing authenticity with innovation. By connecting deeply with consumers’ values and lifestyles, we create not just products, but experiences that cut through the clutter and build lasting emotional bonds. This report from Meltwater is the ultimate playbook for impactful engagement for brands, as well as strategies in fostering organic interactions with customers.”

To access the guide, you may download ‘Unlocking the Power of UGC for Meaningful Brand Connections’ here.

Singapore –  Only 10% of businesses in India, Singapore, ANZ, and North America have achieved the most advanced stage of becoming experience-orchestrated (X-O) enterprises, according to an IDC InfoBrief commissioned by Affinidi.

The report reveals that 58% of surveyed businesses aim to stand out by prioritising hyper-personalised products and services, surpassing traditional personalisation to meet real-time customer needs and enhance proactive experiences.

IDC predicts that Asian companies will prioritise personalisation to address rising competition, with 30% undergoing structural and technological changes by 2027 to focus on value outcomes and drive loyalty.

However, despite growing emphasis on leveraging customer data to enhance experiences, the report showed that only 33% of businesses can anticipate customer needs and deliver value-driven personalisation.

The gap stems largely from data collection challenges, cited by 56% of businesses amid rising cyberattacks and breaches. Customers, increasingly cautious, share data only with companies that have earned their trust.

Despite data protection regulations like GDPR in Europe, India’s DPDP Bill, and Singapore’s PDPA, 59% of businesses report ongoing customer security concerns during registration.

The report highlights that to stay competitive, businesses must become experience-orchestrated (X-O), leveraging data to integrate processes, applications, and channels for meaningful value exchange.

To become an X-O business, the report noted that companies must be transparent in data collection to build trust and ensure seamless data sharing through integrated systems. This transformation relies on key pillars: creating connections across systems and processes with a unified customer view; fostering an AI-driven culture focused on outcomes; interpreting data in context while maintaining trust; and actively engaging stakeholders by leveraging insights from integrated data.

The AI-driven era has heightened customer expectations, with the survey revealing that adapting to evolving demands is the biggest challenge for businesses in delivering value. To stay competitive, companies must embrace X-O practices to stay ahead.

 Recognising this, however, only 10% of businesses across India, Singapore, ANZ, and North America have reached advanced X-O maturity, hindered by fragmented customer data. A unified customer view is essential to unlock the full value of scattered data and drive meaningful engagement.

According to the report, key challenges in achieving a unified customer view include fragmented data across systems, complexities from evolving privacy laws, and scalability issues. Limited trust and real-time data gaps further hinder personalised experiences and secure data management.

To overcome these challenges and become X-O businesses, Affinidi and IDC recommend adopting holistic identity management solutions. These provide a secure, privacy-first approach to data collection and management, including identity verification, seamless onboarding, secure communication, and consent management. 

“Turning X-O will be pivotal for businesses to stay competitive in today’s digital landscape. It is no longer about just acquiring data but also knowing how best to utilise it to cater to customers’ needs and preferences. HI provides the scalability and flexibility businesses need to meet growing personalisation demands while ensuring their customers feel secure, valued, and in control of their personal information—fostering long-term customer loyalty and reducing data-related risks,” said Glenn Gore, CEO of Affinidi.

India – Only 18% of organisations in India are fully prepared to deploy and leverage AI-powered technologies, marking a decline from 26% a year ago, a report from Cisco revealed. 

The report found that all companies in India have increased urgency to deploy AI, driven mainly by CEOs and leadership teams. Additionally, 57% of companies are allocating 10% to 30% of their IT budgets to AI deployments.

Despite significant AI investments in areas like cybersecurity, IT infrastructure, and data analytics, many companies report that the returns are falling short of expectations.

According to the findings of the report, there is a decline in AI readiness across all pillars, with infrastructure identified as a key pain point, particularly in compute, data centre performance, and cybersecurity.

Only 21% of organisations have the necessary GPUs to meet current and future AI demands, while 36% have the capabilities to secure data in AI models with end-to-end encryption, security audits, continuous monitoring, and real-time threat response.

Despite prioritising AI investments, companies in India are also reporting underwhelming results. AI spending over the past year focused on cybersecurity (47% at advanced deployment), data analysis (44%), and data management (42%). However, half of respondents reported either no gains or returns falling short of expectations in enhancing, automating, or optimising operations.

With time pressing, Indian businesses are ramping up efforts and investments to embrace AI transformation. According to the report, 39% plan to allocate over 40% of their IT budgets to AI in the next 4–5 years, up from just 7% today.

Companies further recognise the need to strengthen AI readiness, with 55% in India prioritising scalability, flexibility, and manageability in IT infrastructure—highlighting key gaps that must be addressed for effective AI adoption.

“As companies accelerate their AI journeys, it’s critical they adopt a comprehensive approach to implementation and connect the dots to link AI ambition with readiness,” said Dave West, president for APJC at Cisco. 

“This year’s AI Readiness Index reveals that to fully leverage the potential of AI, companies need a modern digital infrastructure capable of meeting evolving power needs and network latency requirements from growing AI workloads. This must be supported with the right visibility to achieve their business objectives,” West added. 

Despite challenges unique to each pillar, the report highlights a common issue: a shortage of skilled talent. Companies identified this as the top challenge across infrastructure, data, and governance, underscoring the vital need for professionals to lead AI initiatives.

Anupam Trehan, VP of people and communities APJC at Cisco, said, “As the race to adopt AI picks up pace, talent will be a key differentiator for companies. There is already a shortage of skilled talent across various aspects of AI. This means companies will need to invest in their existing talent pool to meet the growing demand. At the same time, it is crucial that all stakeholders—the private and public sectors, educational institutions, and governments—work together to develop local talent so that the entire ecosystem can benefit from the immense potential that AI offers.”

Australia – Ad spending is set to pivot away from major platforms like Google and Meta in 2025 as more brands turn to owned media networks, according to a new report from Sonder.

The new report highlights a broad recognition of owned media as a powerful, untapped asset capable of generating profitable new revenue streams and creating expanded opportunities for partners and customers.

Key findings from the report reveal that over two-thirds of companies plan to increase their use of owned media in the next 12 months. Additionally, more than a third (36%) of companies are currently offering owned media value to partners at no cost or are not leveraging it at all.

The report further revealed that over half of respondents (60%) lack an owned media rate card.

Meanwhile, fewer than a third of respondents utilise audience targeting, ad-serving, campaign optimisation, and monetisation software platforms. In contrast, over half leverage their first-party data for customer targeting in collaboration with partner brands.

Sonder’s report further highlights that retail media continues to dominate, with global media spend expected to surpass US$150b by the end of 2024, outpacing the growth of most traditional advertising channels.

The United States remains the market leader, while Europe experiences rapid expansion and the Asia-Pacific region enters the early stages of growth, with several high-profile brands beginning to tap into the potential of media networks.

The report predicts that sectors such as finance, travel, telco, and convenience will emerge as key players in the market in 2025.

Interestingly, the report also notes that as owned media networks continue to proliferate, pressure will mount on major digital media companies like Google, Meta, and Amazon as brands increasingly seek cost-effective alternatives for their marketing budgets.

Jonathan Hopkins, founding partner of Sonder, said, “Owned media has long been overlooked in favour of traditional paid advertising channels. In the past few years, that has fundamentally changed as we enter a new era where any type of business can leverage their owned media networks both strategically and commercially.”

“Retail has embraced the commercial potential of the opportunity, and now other sectors are catching on. We expect to see more and more organisations launch owned media networks in 2025,” Hopkins added. 

Singapore – Southeast Asian countries lead globally in Chinese app install share, with Indonesia (22%), the Philippines (21%), Malaysia and Thailand (both 19%), and Vietnam and Singapore (both 18%) ranking among the top markets, according to a study by Adjust and Sensor Tower.

The study revealed that SEA countries lead in most verticals for Chinese app installs, particularly in the utility category, with Vietnam (36%), Cambodia (33%), and Indonesia (30%) showing the highest shares.

For entertainment apps, Singapore leads globally in installs, holding a 49% share, followed by Pakistan at 36%. In gaming apps, the Philippines and Indonesia each hold a 19% install share, with Singapore close behind at 17%, all just trailing South Korea’s 21% lead. 

Meanwhile, Malaysia dominates social app installs at 80%, followed by Indonesia (65%), Vietnam (64%), and the Philippines (54%).

Across the APAC region, India and South Korea rank among the top 10 countries for Chinese app installs, each holding an 18% share.

According to the report, the top downloaded Chinese apps in SEA are TikTok (entertainment and social), DANA Dompet Digital Indonesia (finance), Garena Free Fire (gaming), Shopee (shopping), and SHAREit (utility), leading in popularity. For utility apps, Google One dominates revenue not only in Vietnam, Indonesia, and the Philippines but also in the US, UK, France, Germany, and Ireland.

Chinese shopping and finance apps continue to drive growth across Southeast Asia. The report shows that finance app installs in the region rose by 88% year-over-year (YoY) in Q3 2024, with sessions up 70% YoY. Shopping app installs saw a remarkable 184% YoY increase in Q3, despite an 18% decline in sessions. Social app installs grew by 27% YoY, alongside a 19% rise in sessions.

Furthermore, app-tracking transparency (ATT) opt-in rates are steadily rising across Southeast Asia, with overall rates increasing from 45% to 49%. Finance apps reached 53%, games 51%, and shopping apps rose notably from 33% to 44%, while social apps held steady at 44% and utility apps grew from 27% to 40%.

April Tayson, regional vice president for INSEAU at Adjust, said, “The rapid rise of Chinese apps worldwide underscores their influence in reshaping digital user experiences through gamification, artificial intelligence, and personalisation. Looking at how these apps have deeply integrated into our daily lives, Chinese apps’ momentum shows no signs of slowing down.”

The study shows strong adoption and engagement with finance and social apps across SEA, North America, and EMEA, highlighting growth opportunities for Chinese developers. Mobile-first platforms and rising smartphone use are driving this trend in SEA.

“These insights and data from our study will not only optimise marketers’ current strategies but also arm them with learnings from the success of Chinese apps in SEA to drive growth within their own digital offerings. The adoption patterns seen here are invaluable for marketers looking to gain valuable insights into user preferences and engagement habits,” Tayson added. 

Hong Kong – With their frequent use of digital devices, more than half of Gen Z (51%) say they are the primary targets of fraud schemes, while Millennials report being the most frequently victimised, according to a new report by TransUnion.

The report indicates that 39% of adult respondents in Hong Kong reported being targeted by fraud attempts via online, email, phone, and text messaging over the past three months, with 5% stating they fell victim.

Across generations, Gen Z and Millennials reported the highest targeting rates. In particular, 51% of Gen Z respondents said they were targeted in the past three months—a six-point increase from TransUnion’s Q3 2023 study. 

The report suggests that Gen Z’s frequent use of digital devices, which heightens their susceptibility to fraud schemes, could be the reason for this elevated targeting rate compared to other generations.

Meanwhile, 41% of Millennials reported being targeted by fraud attempts, with 7%—the highest rate among generations—indicating they had fallen victim.

Additionally, among all generations who reported being targeted, vishing—fraudulent phone calls intended to extract personal information—was the most common scheme at 36%, followed closely by phishing (fraudulent emails, websites, social posts, QR codes, etc., aimed at data theft) at 33%.

TransUnion’s report also revealed that 5.7% of all attempted digital transactions involving consumers in Hong Kong were flagged as suspected digital fraud in the first half of 2024—10% higher than the global average of 5.2%.

In the first half of 2024, the community sector—encompassing online forums and dating sites—recorded the highest suspected digital fraud rate globally, with Hong Kong at an elevated rate of 15% compared to the global average of 11.5%. TransUnion noted that profile misrepresentation was the most common type of digital fraud encountered in this sector across its global customer base.

Furthermore, the report found that account creation was the highest fraud risk in Hong Kong’s digital communities sector, with 29% of attempted account creations flagged as suspected fraud in H1 2024—a 126% rise from H1 2023. This surge, likely driven by synthetic or stolen identities, aligns with recent Hong Kong police reports of over 500 fraudulent cases in fake compensated dating scams, totalling HK$243 million in losses.

In H1 2024, the retail sector in Hong Kong reported the second-highest suspected digital fraud rate at 9.5%, followed by financial services at 5.5%. Financial services experienced the largest year-over-year increase in suspected fraud at 29%. 

These initiatives are crucial in light of the significant year-over-year increase in financial losses during the first half of the year, as TransUnion reports a 78% surge in suspected digital fraud attempts in Hong Kong’s financial services from H1 2023 to H1 2024.

Jerry Ying, chief product officer at TransUnion Asia Pacific, said, “While digital fraud may fluctuate, the prevailing trends in data breaches and scams have an unmistakable impact on consumers. Despite Gen Z and Millennials being particularly vulnerable demographics in the digital era, all consumers rely heavily on businesses to ensure that they enjoy a secure digital experience.”

“It is therefore imperative for businesses across industries to employ a strategy of continuous innovation and friction-right fraud prevention through technologies such as identity verification, IP intelligence, device reputation, and synthetic identity detection that will all be conducive to enhancing consumer trust and delivering better business results,” Ying added.