SINGAPORE – Retail will be booming again in Southeast Asia this holiday season, according to new research from InMobi, a leading provider of marketing and monetization technologies that propel business growth.
InMobi surveyed 1,000 smartphone users in Indonesia, Singapore, and the Philippines to create the “2023 Holiday Retail Guide for Advertisers.” The guide explores how shoppers are gearing up for the most anticipated end-of-year shopping festivals in the region and reveals that Southeast Asian wallets are open.
Six out of 10 respondents (60%) to the InMobi survey reported that they planned to increase their budgets for online shopping, meaning 90% will increase or maintain online shopping budgets when compared to 2022.
Whilst the majority (73%) of respondents plan to hybrid shop this holiday season, mobile is the preferred medium at every phase of the shopper’s journey whether they are online or offline. Shoppers cite app-only discounts and convenience as the top two reasons they turn to mobile, with 86% of shoppers in Southeast Asia using mobile for exploring; 81% choosing mobile to make the final purchase; and 63% using mobile to search for products.
The research also identifies three buyer personas:
- Category Explorers (58%) who have decided on products to shop but not brands
- Bargain Hunters (29%) who seek incentives before they make their purchases
- Brand Lovers (13%) who know both the products and the brands they want
Interestingly, there is a sharp rise in the number of category explorers compared to the previous year, when only four in ten shoppers used to fall into this category. This means more Southeast Asian shoppers are keeping their eyes open than before as they shortlist which products and brands to choose.
“Traditionally, Southeast Asia is a region where physical stores have played a prominent role. While our study found that stores are still important for shoppers here, it is exciting for us to note that more consumers are planning to use mobile as well during their shopping journey, and in fact, it is playing a dominant role. With the excitement for the end-of-year shopping festivals and an appetite for exploring brands and products being at an all-time high, it is essential for marketers and retailers to be present effectively throughout Southeast Asia’s shopping journey,” said Rishi Bedi, Managing Director for Asia Pacific at InMobi.
The guide offers more nuanced insights into the Southeast Asian shopper’s shopping patterns as they approach the end of the year:
- Over half of Southeast Asian consumers showed a tendency to shop on their phones after 4:00 pm.
- The single-digit and double-digit shopping festivals are record breakers, showing that they continue to be the most anticipated and popular sale events of the year for Southeast Asia’s shoppers.
- Fashion and accessories, gadgets, and personal care products including cosmetics are the top three items most likely to be bought. Big-ticket items such as home appliances are also big on the list.
- While mobile is the top buying channel for Southeast Asian shoppers, a few items, such as jewelry, home appliances, gift packs, and holiday-focused groceries, will likely be browsed or purchased offline.
With the increase in mobile shopping and decrease in consumer attention, InMobi and Glance offer a variety of solutions for advertisers to engage these Southeast Asian shoppers. Across Southeast Asia, brands can engage consumers on mobile apps with fresh strategies and unique solutions available through InMobi. With AR and AI-powered innovation, InMobi aims to bring consumers and brands together during the year-end holiday season. Indonesian advertisers can leverage Glance’s smart lock screen content platform to engage shoppers before they unlock their phones.
To read more about The 2023 Southeast Asia Holiday Retail Guide for Advertisers, Southeast Asia, visit https://go.inmobi.com/holiday-retail-guide-for-advertisers-marketing-trends-sea/ or contact email@example.com.