Ramadan is a month of fasting and spiritual reflection for Muslims around the world, a time for family gatherings, community events, and religious observance. It is also a time of increased retail spending, as families stock up on food, gifts, and clothing in preparation for the Eid al-Fitr holiday that marks the end of the month of Ramadan. There is also the additional Ramadan bonus! Which makes the season the busiest & most profitable season for retailers. 

So how will Indonesians spend this Ramadan & how can brands win – we explore in this article. 

01.With the largest population of Muslims in the world, Indonesia is the largest market for Ramadan shopping; ~70 Bn+ in retail sales expected 

Fun fact – Indonesia is the largest retail market when it comes to Ramadan! With 235Mn + Indonesians celebrating Ramadan they are expected to spend USD 70Bn + this year.  

For ~80% of the consumers it’s a biggest shopping event of the season – greater than any double day sales. And compared to this year – the level & intensity of excitement from consumers seem to be higher. 

02.Fashion & Grocery to dominate sales – travel to see increased demand compared to last year  

People's spending categories.

The shopping theme of Ramadan has always been to Eat Together, Look better & be charitable. Therefore, most consumers would be looking to purchase grocery & fashion items. However, compared to last year – Travel is expected to be big this year with ~15% more consumers looking to take a trip.  Home Furnishing, Grocery, BPC & Jewellery to also see increased interest from consumers.  Fashion & Electronics, however, are expected to have a lower interest as compared to previous year – though increased spending still observed for consumers who are going to buy. 

03.Winning plays during Ramadan would need platforms to focus on right consumer cohorts for the right segments – Fashion, Electronics & BPC to be cash cows while Travel could be a surprise winner

Across categories, consumers are open to shop online, driven by convenience, assortment, and promotions. Horizontal eCommerce players stand out as the most preferred channel and have a clear dominance in categories such as fashion, electronics, and beauty & personal care. However, driven by higher discounting and product discovery / gifting ideas TikTok is increasingly becoming a sought-after channel. For Home décor, consumers are willing to purchase smaller items online. Grocery, while being one of the biggest markets, still remains a tricky segment for online channels to completely crack as offline channels combined have dominance.  Owing to the increased desire to travel this season & heavy online reliance – this could be a surprise winner for online platforms this season. 

04.Advertising at the right place & at the right time will be key to winning this Ramadan – Advertise 5-10 days before the purchase period

Brands advertising at the right time and place

Consumers have made it clear how much they like a good deal and they are willing to work for it. An average consumer now starts exploring the internet for deals and shopping inspiration 5-10 days before they make the transaction.  And interestingly, this search & discovery has moved away from traditional search engines to eCommerce websites ~65%. Social media is next and can help you enter the consideration funnel as ~80% of consumers will be checking out Instagram & TikTok for shopping inspiration.  New-age brands could find themselves getting new customers as willingness to try is high – however consumers are primarily looking for good deals from the brand. Content around potential gifting ideas and spreading awareness promotions to be at the centre of the content strategy.


  • Roshan is a Partner at Redseer Strategy Consultants and is focused on Southeast Asia. He was ranked highly by key long-only and long-short institutional investors. He has organized several conferences, corporate events, and non-deal-roadshows.