One in three Southeast Asian Muslims consider themselves more religious than their parents were at their age, with their faith characterising their decisions around food (avoiding pork and alcohol), personal spending, fashion, banking, travel and education, according to the New Muslim Consumer report released on 21 September.
The report by Wunderman Thompson Intelligence and VMLY&R Malaysia has found that while only 21 percent of the region’s 250 million Muslims say they are less observant than their parents were, 45 percent consider themselves just as pious.
For 91 percent of Southeast Asian Muslims, a strong relationship with God is the most important aspect of life, on par with health and just ahead of family, according to the survey.
Only 34 percent consider wealth very important, with 28 percent rating their passions and 12 percent citing fame as priorities, as per the report on the basis of interviews with nearly 1,000 consumers in Indonesia and Malaysia.
The report has also found that growing religious faith and the spread of western-style consumerism has resulted in Muslim-influenced consumerism evolving beyond food to include everything from modest fashion and fintech in accordance with Islamic law, to Muslim dating apps and Halal travel.
The most important factor when making a purchase for Muslim consumers is whether a product is halal (permissible), with 91 percent of respondents saying it is very important, ahead of value for money, quality and environmental considerations, according to the report.
Whether a banking or investment product is in accordance with Islamic law is very important for more than 60 percent of Muslims. For 77 percent Muslims, the availability of halal food is a major factor in choosing destinations for travel.
In terms of household’s decision which are male-led, female breadwinners make up a notable minority, with 42 percent of women saying they provide the most financial support but 70 percent of men describe themselves as main provider.
Southeast Asian Muslims’ faith also influences their enthusiasm for growing technology such as the metaverse, a new form of shared virtual reality, with 85 percent of respondents expressing they would like to see virtual spaces made for Muslims and 78 percent expressing interest in virtual religious accessories. 59 percent, however, do not believe the metaverse is compatible with Islamic teachings, they said.
Muslim consumers are increasingly overlaying their religious beliefs on purchase decisions, and how they do so is constantly evolving,” said Chen May Yee, Asia Pacific director for Wunderman Thompson Intelligence.
