Majority of Malaysians Intend to Spend Up to RM2,000
Kuala Lumpur, March 4, 2021 - The start of the pandemic in March last year has changed consumer behavior definitively, shares the latest 2021 Ramadan Report by InMobi, the world’s leading marketing cloud. Titled “Buidling Resilient Brands: Gearing up for Ramadan 2021,” the report highlights findings from a consumer survey of over 1,000 Malaysians connected consumers across Malaysia, conducted through InMobi Pulse, the mobile consumer intelligence platform. With 56% households reporting a dip in income, the survey unveils insights into the consumer behavior in the new normal.
A Family-First Ramadan
Ramadan is synonymous with the spirit of togetherness and is the busiest shopping period in Malaysia popularly referred to as Ramadan Rush, reflective in family reunions and individual and household shopping sprees. 2021 will witness a family-first Ramadan with 41% respondents planning to shop for their family or extended family members and 39% intending to travel back to their hometown. The shopping cart for most Malaysians is owned by the apparel, groceries and gift package categories.
The Impulsive Ramadan Shopper
According to the survey, a whopping 75% of Malaysians plan to make purchases only during the month of Ramadan. This is a dramatic shift from 2020, where only 25% chose to buy during Ramadan, while others planned their purchases well in advance.
82% of the respondents have not decided on products or categories they will be buying in 2021. Among them, 62% of millennials are yet to decide on which brands or products will they be shopping for in 2021. Also, 67% of Malaysia’s families have not decided on what purchases they will be making.
The Role of Mobile in Ramadan
Smartphones are the anchor for many Malaysians in their daily lives. The mobile will be extremely critical for consumers to learn, explore and buy during Ramadan, with 64% respondents learning about festive season sales and offers on their smartphones. In fact, 73% of those Malaysians aged between 18-34 will rely on mobile as their primary source of learning about new brands and products/services to learn about festive offers. Interestingly, 21% of millennials will in-store as opposed to the national average of 29 to discover products/services, while 71% of families with children rely on their smartphones for the same.
There has been a phenomenal growth of 82% in mobile as a channel to explore making it the medium of choice by a long way especially when compared to other sources including in-store and desktop. Mobile has also emerged as the most preferred buying channel for consumers with 70% respondents relying on it for Ramadan shopping.
What Brands Need to Remember
Brands need to remember that despite a tough 2020, Indonesians are excited for Ramadan in 2021. The connected Indonesian consumer is price conscious and unplanned, now more than ever, and is extensively learning, exploring, and buying on their smartphones. Brands that will invest in building the right mobile-first experiences will win the Ramadan shopper.
InMobi fosters real relationships between brands and consumers by leveraging its technology platform and exclusive access to mobile intelligence. As a Marketing Cloud, InMobi creates a new path for brands to understand, identify, engage, and acquire connected consumers. As a leading technology company, InMobi has been recognized on CNBC Disruptor's 50 2018 and 2019 lists and as one of the World's Most Innovative Companies 2018 of Fast Company. For more information, visit inmobi.com.