With brands across the UK already launching campaigns to engage British Muslims around Ramadan and Eid preparations, new research reveals spending this year is set to be very different.
In fact, 48% of UK Muslims say that the cost-of-living crisis has already impacted their Ramadan/Eid preparations, whilst 45% are expecting to work more hours to offset rising living costs this year. Brands will therefore need to be smarter and sensitive to these budget restrictions in their advertising this year to engage audiences – consumer sentiment evaluation will be key to ensuring strong brand associations in a time of financial uncertainty for so many across the country.
The findings come from Nano Interactive, leaders in ID-free ad targeting solutions, which surveyed Muslims in the UK to understand how their spending habits around Ramadan may be changing this year.
When it comes to the specific areas they’ll be cutting back on:
- 41% say they’re more likely to eat out less for Iftar, the evening meal that signifies the end of the daily fast
- 42% expect to spend less than £30 per person on Eid gifts – 61% say this is much less than what they spent last year
Grocery shopping habits will be one of the biggest changes for many this year:
- 34% have chosen to save on groceries this year to combat rising living costs
- Over 40% turn to budget friendly grocery stores such as Lidl (44%) or Aldi (46%) when preparing for Ramadan and Eid
Brands that recognise the importance of Ramadan to the Muslim community and put an effort into understanding this audience give themselves the best opportunity to prosper. A great example was Tesco’s ‘Together this Ramadan’ billboard campaign last year, which showed empty plates during the day that only filled up once the sun went down.
Despite many consumers reducing their spending, the research also reveals there is a huge opportunity for brands that engage in the right way with their audience this year:
- 44% of UK Muslims would describe themselves as brand loyalists, typically purchasing brands they know and love
- 24% say they’re open to trying new brands and products when buying Ramadan/Eid groceries
- 31% say that they spend time looking for best deals before purchasing in order to get the best value for money
Artiom Enkov, head of insights & analytics at Nano Interactive, says: “Ramadan and Eid are hugely important moments for nearly four million people across the UK, but with spending habits set to change again this year, it’s important for advertisers to be sensitive to consumers with reduced budgets and evaluate the true intent behind the context.
“For instance, if people are reading articles online around ‘Ramadan recipes on a budget’, brands can work to tailor their creative in this context by highlighting relevant deals. By combining data points about the content people are reading and using an extra layer of evaluation around intent and context, brands and advertisers can make sure they’re delivering effective ads that reach the right audience, with the right message at the right time.”
