Lebaran Tahun Ini Bakal Beda

Summary

In this video, the speaker highlights the significant shift in Indonesia's business landscape during Ramadan in 2024. Indonesia leads globally in Ramadan-related transactions, with an estimated 1 quadrillion rupiah expected to be spent, making it the biggest shopping season of the year. The speaker delves into key trends such as the rise of online shopping, the impact of promotional campaigns, and the growing sectors of grocery and fashion. The video also discusses the importance of timing, customer behavior, and how businesses can leverage these insights to maximize sales during Ramadan, including tips on reaching new customers and engaging loyal ones.

Takeaways

• 😀 Indonesia is predicted to have a significant economic shift during Ramadan in 2024, with transactions potentially reaching 1 quadrillion rupiah.
• 😀 Ramadan in Indonesia contributes 16% of annual retail sales, making it a crucial period for businesses to boost sales.
• 😀 Consumer behavior shows that 69% of people anticipate a more exciting shopping experience in Ramadan 2024 due to various events and promotions.
• 😀 Ramadan is the peak season for businesses to gain new customers, with 90% of consumers willing to try new brands, driven by special promotions.
• 😀 It is critical for businesses with loyal customers to engage them during Ramadan, as they are at risk of losing them to competitor brands offering promotions.
• 😀 Consumer spending patterns during Ramadan are divided into three periods: pre-Ramadan, during Ramadan, and post-Ramadan, with peak spending happening in the third and fourth weeks.
• 😀 This year, online shopping is predicted to outperform offline shopping, with categories like groceries and fashion seeing significant increases in consumer interest.
• 😀 The food industry is seeing a shift towards home cooking and take-away options, while grocery sales, especially in ready-to-cook and ready-to-eat categories, are expected to rise.
• 😀 Fashion remains a strong category during Ramadan, with an increasing trend in online fashion shopping, especially through live shopping and influencer interactions.
• 😀 Electronics and beauty products are also expected to see significant growth during Ramadan, with men focusing on electronics and women on beauty and personal care products.
• 😀 To capitalize on Ramadan opportunities, businesses must focus on the right timing and place, ensuring their marketing strategies are aligned with consumer behavior and media consumption patterns.

Q & A

Why is Ramadan considered a significant period for businesses in Indonesia?

Ramadan is a critical period for businesses in Indonesia because it accounts for a significant portion of annual retail sales. It is the peak season for consumer spending, surpassing other holidays like Hari Raya. In 2024, Ramadan's retail sales are expected to reach 1 quadrillion IDR, making it an essential moment for businesses to maximize their sales.

What is the forecast for consumer spending during Ramadan 2024 in Indonesia?

Consumer spending during Ramadan 2024 in Indonesia is predicted to reach around 1 quadrillion IDR, with retail, groceries, and fashion sectors seeing the largest growth. The spending behavior is influenced by promotional campaigns and events that make the shopping experience more exciting.

What is the main challenge businesses face during Ramadan 2024?

The main challenge for businesses during Ramadan 2024 is acquiring new customers. While many businesses aim to attract new customers, there is a risk of losing loyal customers who might be tempted by promotions from other brands during this period.

How does Ramadan affect consumer behavior and spending patterns?

Ramadan impacts consumer behavior significantly, with people more open to exploring and trying new brands. Surveys show that 90% of consumers are willing to try at least one new brand during Ramadan, driven largely by special promotions. Spending is also higher due to bonuses like THR (holiday bonuses).

What are the key changes in consumer behavior for Ramadan 2024 compared to previous years?

In 2024, there is a noticeable shift towards online shopping, with categories like groceries and fashion seeing more attention than travel, which dominated the previous year. Live commerce and online discovery of new brands have become more popular, especially with the rise of social media platforms like TikTok and Instagram.

Which sectors are expected to benefit the most during Ramadan 2024?

The sectors most likely to benefit during Ramadan 2024 are groceries, fashion, electronics, and beauty. Groceries and fashion are expected to see a surge due to trends like home cooking and the need for new clothes for the holiday. Electronics and beauty products are also seeing a rise due to increased discretionary spending.

How can businesses engage loyal customers during Ramadan 2024?

Businesses can engage loyal customers by ensuring they do not focus solely on acquiring new ones. It’s important to provide promotions, loyalty programs, or exclusive offers to existing customers to prevent them from being swayed by competing brands during Ramadan.

What is the importance of timing in business strategies during Ramadan?

Timing is crucial for business strategies during Ramadan. Consumers typically plan their purchases 5 to 10 days in advance, so businesses must begin their advertising campaigns early, ideally a week or two before the peak purchasing period, which occurs in the third and fourth weeks of Ramadan.

What types of marketing channels should businesses focus on during Ramadan?

Businesses should focus on online marketing channels, particularly horizontal commerce platforms like marketplaces, and social media platforms. Short-form videos, such as TikTok and Instagram Reels, have proven to be the most effective for reaching consumers during Ramadan.

What are some key factors that influence consumer purchases during Ramadan?

Key factors influencing consumer purchases during Ramadan include free shipping, affiliate programs, and the opportunity for product discovery. Discounts and promotions also play a significant role, as consumers are more likely to try new products when offered attractive deals.