Singapore – This upcoming holiday season, spending amongst Southeast Asian shoppers will be skyrocketing, according to a study conducted by marketing and monetisation technologies provider InMobi, which surveyed 1,000 smartphone users in Indonesia, Singapore and the Philippines.
Data from the study suggests that 60% of respondents said that they will be increasing their budgets for online shopping for the season, which also means that 90% will increase or maintain online shopping budgets when compared to 2022.
On the other hand, the majority (73%) of respondents plan to hybrid shop this holiday season, with mobile being 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% use mobile to search for products.
The study also identifies three buyer personas, the category explorers (58%) who have decided on products to shop but not brands, the bargain hunters (29%) who seek incentives before they make their purchases, and the 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 in this category. This means more Southeast Asian shoppers are keeping their eyes open than before as they shortlist which products and brands to choose.
Furthermore, other notable insights from the report show that over half of Southeast Asian consumers showed a tendency to shop on their phones after 4pm, and that 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.
Lastly, fashion and accessories, gadgets, and personal care products including cosmetics are items that are most likely to be bought online, whilst items such as jewellery, home appliances, gift packs, and holiday-focused groceries, will likely be browsed or purchased offline.
Talking about the results, Rishi Bedi, managing director, Asia Pacific, at InMobi, said, “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,” he added.
