TGM Research Survey Reveals Increased Eco-Consciousness and Spending Trends among Muslims during Ramadan

SINGAPORE, March 22: Global market research company TGM Research has unveiled the findings of its comprehensive TGM Ramadan Global Survey 2023, highlighting Muslim consumers' behaviors and sentiments during the holy month of Ramadan. Spanning 14 countries across three continents, the survey provides valuable insights into the spiritual, cultural, and social aspects of this year's celebrations. Key findings from the TGM Ramadan Global Survey 2023 include: 1. A majority (56%) of Muslim consumers worldwide plan to increase their spending during Ramadan. The survey also revealed that most consumers strategically manage their budgets by purchasing necessary items just before the beginning of the holy month to take advantage of available discounts and special offers. 2. A staggering 98% of respondents believe that observing Ramadan helps them become more disciplined and committed. Approximately 70% of those surveyed plan to increase worship and charitable giving during the holy month. 3. Convenience and digitization are trending, with over half of the respondents allocating higher budgets for food shopping. Prepared meals are increasingly popular, particularly among Asian families, with 26% opting to order food rather than cooking from scratch. 4. The importance of cultural and religious sensitivity in brand engagement is emphasized, with 82% of respondents stating that it is crucial for brands to respect traditional Islamic values. Coca-Cola, cited by 8% of respondents, is a prime example of successful engagement with Muslim consumers. 5. Health consciousness is on the rise, with 76% of respondents planning to purchase health and wellness items during Ramadan. This trend indicates a growing market for companies offering tailored products and services catering to Muslims' dietary and religious needs. 6. Eco-consciousness is also increasing among Muslim consumers, with 83% preferring to buy from brands or stores offering environmentally friendly options for Ramadan-related products. This highlights the need for businesses to prioritize sustainability and responsibility in product design, production, and supply chain management. The full report can be accessed here. https://tgmresearch.com/ramadan-insights-2023-global-study.html METHODOLOGY: The survey was carried out between the 03rd and 18th of February,2023, using the method of online interviews in 14 countries on a representative sample of 18-55 N=9638. The sample was representative of the adult Muslim population of the given country in terms of gender and age. ABOUT TGM: TGM Research is a data and insights company underpinned by technology. TGM provides agile insights for better decisions. It collects first-hand data worldwide using online research panels and delivers high-quality market research with world-class proprietary Res-Tech solutions. TGM is a remote-first company with a team of 50+ members, having a presence on five continents.