The retail sector is booming as 60 percent of Southeast Asian holiday shoppers expressed plans to increase online shopping budgets, said mobile marketing and advertising platform InMobi.
InMobi said in their report on Thursday that it conducted a survey on 1,000 smartphone users in Indonesia, Malaysia and the Philippines. The results show six out of 10 respondents planned to increase their budget for shopping this holiday season compared to 2022.
According to InMobi, Southeast Asia saw a spike in shopping in 2022 when retailers sold their products in 9.9 shopping events, 12.12 sales, and then the 10.10 and 11.11 events.
Online or mobile shopping is the preferred mode for 73 percent of the respondents. They cite "app-only discounts and convenience" as the top two reasons. It is used to either explore or make a purchase.
"Due to the in-app deals and discounts being bigger during those times, mobile became the top choice of the season," it said.
The first on the shopping list of Southeast Asians when it comes to items purchased online is skin care and makeup, followed by apparel and accessories, gadgets, gift baskets and jewelry.
On the type of shoppers, 39 percent were bargain hunters, while 40 percent were category explorers who decided on categories of their shopping but not the products or brands.
Meanwhile, 21 percent were shoppers who plan their purchases based on brands and products.
Rishi Bedi, InMobi managing director for Asia-Pacific, said there is a huge opportunity for retailers, whether selling online or setting up physical stores in Southeast Asia due to the increasing spending among consumers.
"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," said Bedi.
"Having emerged from a tough few years, with renewed enthusiasm and optimism, and with the last remnants of the pandemic being washed away completely, consumers in this region are looking forward to shopping and celebrating more, both offline and via mobile," said InMobi.
Source: Manila Times