Articles Exploring Financial Posts of Gen Z, Millennials, & Gen X: From Installments to Investments by jakmin June 14, 2024 written by jakmin Exploring Financial Posts of Gen Z, Millennials, & Gen X: From Installments to Investments Talking about finance can be tricky. People like to discuss buying things on credit, but not how to pay for them. However, when it comes to important things like education or retirement, many admit that money is still a problem. Jakpat and Lintar Financial surveyed to find out the level of financial literacy. The report, which involved 1295 respondents, shows what credit they had, financial class participation, and future plans. Installments, financial allocation, and future-readiness In general, most respondents do not have credit, dominated by Gen Z (70%) and Gen X (60%). Meanwhile, 45% of Millennials have credit cards such as credit cards (CC), Non-Collateral Financing (KTA), and vehicle loans. More specifically, 3 out of 10 people have CC/KTA installments below IDR 500 thousand per month. As many as 32% of men and 14% of women have CC/KTA installments of IDR 1-1.25 million. Meanwhile, 40% of respondents have vehicle installments of IDR 500 thousand-1 million, which are dominated by Gen Z and Gen X. Most Millennials have vehicle installments of IDR 1-1.25 million. In addition to installments, other financial posts are also considered. As many as 63% of respondents allocate income per month to saving. Meanwhile, 27% made investments and 17% set aside money for insurance. In more detail, 4 out of 10 people save a nominal amount of less than IDR 500 thousand per month. Only 10% can save above IDR 2.5 million. Then, as many as 70% of respondents invest below IDR 1 million per month. As many as 9% of respondents admitted to investing in an amount above IDR 5 million. “Based on our study, Gen Z’s awareness of allocating money for investment, savings, and insurance is still lower than other groups. This may be due to lower income and lack of experience in managing finances. Moreover, they also have installments such as vehicle installments, so education about financial allocation needs to be improved,” said Jakpat Lead Researcher, Farida Hasna. When it comes to preparing for the future, the percentage of getting married (59%) and having a family (64%) is almost double that of pursuing higher education (28%) and funding retirement (37%). This is applied to both genders. In detail, 2 out of 3 men are ready to start a family and only a quarter of women are financially ready to pursue higher education. Financial literacy Three out of 10 people claimed to be skillful in managing their finances, meaning they can set aside funds for certain expenses. This figure is in line with participation in finance classes. Only 19% of respondents admitted to having taken finance classes. This means that there are still many Indonesian people who have not been educated about the importance of financial planning in their daily lives, which has a big impact if they are not ready to face bad financial conditions. “One of the important financial plans is the preparation of pension funds. Although the majority of Gen Z and Millennials admit that they are not ready to retire, the fact is that as many as 56% of Generation X who are more mature also feel that they are not ready to retire. This shows the need for more intensive financial education,” said Hasna. Download Report Request A Quote June 14, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Reports Discovering Financial Literacy in Indonesia by Jakpat June 13, 2024 written by Jakpat Download Report Request A Quote Discovering Financial Literacy in Indonesia Nowadays, people may casually talk about how easy it is to buy or own goods by credit, but not with repayment plans or long-term financial pledges. Ironically, when the need to manage money is put into life-stage commitments such as higher education, marriage, or pension; people shily admit that money is still a problem. Thus, Jakpat and Lintar Financial surveyed 1295 respondents in Indonesia to capture the level of financial literacy among the public regarding used credit facilities, joining financial classes, and future planning. Key research points: To find out the used loan facilities To find out financial allocations To find out future planning Here are some previews of the report: Download Report Request A Quote June 13, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Articles Eid al-Adha 2024 Trends: Animal Selection to Sacrificial Meat Distribution by jakmin June 3, 2024 written by jakmin Eid al-Adha 2024 Trends: Animal Selection to Sacrificial Meat Distribution Eid al-Adha, also known as the Feast of Sacrifice, is a time for reflection, gratitude, and sacrifice to honor of Prophet Ibrahim AS who was willing to sacrifice his son, Prophet Ismail AS, as a form of obedience to Allah’s commands. Jakpat surveyed 1,383 respondents about their experiences and plans related to Eid al-Adha. As many as 82% of respondents admitted that they usually pray Eid al-Adha in mosques, while some others do it in open fields (33%). Gen X prefers to pray Eid in the open field than other generations. Sacrificial Animals Eid al-Adha is linked with the slaughter of sacrificial animals. Goats and cows are the two most used as sacrificial animals. Respondents prepared funds of around Rp1.5-5 million to buy each sacrificial animal. Although sacrificial animal purchases can already be done online, the majority still buy directly from farmers (59%) and animal markets (31%). The main reasons for buying sacrificial animals directly are to find out the quality of the animal (91%), be able to negotiate prices (66%), and interact directly with the seller (60%). In addition, direct purchases make buyers feel involved in the sacrificial process (47%). Septiana Widi Sugiastuti, Research Lead of Jakpat, advised online qurban service providers to consider other alternatives. “While online buying offers convenience, reasons such as checking animal quality, negotiating prices, and interacting with sellers keep many people from the traditional way. Online sacrificial service providers can offer additional services such as video calls to see the condition of animals in real-time or quality assurance and refunds if animals do not match what was promised,” she said. Sacrificial Meat The distribution of sacrificial meat also shows an interesting pattern. Gen Z pays more attention to whom sacrificial meat will be given, while Millennials and Gen X prefer to leave the distribution of sacrificial meat to the committee. Nine out of 10 respondents received sacrificial meat with plastic wrap. When asked about important considerations in meat wrapping, 60% of respondents prioritize practicality, followed by wrappers that can prevent bacteria (55%), do not contaminate meat (55%), and are environmentally friendly (52%). Gen X is the generation that pays the most attention to the cleanliness of meat wrappers. Regarding what packaging is best for sacrificial meat, as many as 60% answered plastic. However, Gen X and Gen Z choose eco-friendly alternatives, Gen X opting for banana leaf wrap/teak leaf wrap (44%), while Gen Z chooses to bring their own container from home (43%). Download Report Request A Quote June 3, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Reports Eid al-Adha Preparation and Celebration by Jakpat June 3, 2024 written by Jakpat Download Report Request A Quote Eid al-Adha Preparation and Celebration Eid al-Adha, also known as the Feast of Sacrifice, is a time for reflection, gratitude, and sacrifice to honor the willingness of Prophet Ibrahim A.S. to sacrifice his son, Prophet Ismail A.S., in obedience to God’s command. Jakpat conducted a survey of 1.383 respondents regarding their experiences and plans related to Eid al-Adha. These results are based on a survey conducted on 26th-29th of May 2024. Key research points: Eid al-Adha preparation Purchasing sacrificed animals Distributing sacrificed meat Meat packaging Here are some previews of the report: Download Report Request A Quote June 3, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Articles Consumer Behavior in 2024 Ramadan Increases from Last Year by Jakpat May 31, 2024 written by Jakpat Consumer Behavior in 2024 Ramadan Increases from Last Year Ramadan spending is usually higher than other months. Generally, the funds allocated are mostly spent on matters related to the need to celebrate the victory day. Jakpat surveyed to find out how consumers behavior in 2024 Ramadan. The report, which involved 1117 Muslim respondents, shows what activities and expenses in the holy month, ranging from shopping, eating (suhoor & iftar), to going home. In general, 42% of respondents admitted that their expenses this year are bigger than 2023 Ramadan. Four out of 5 people gave zakat/infaq/sadaqah in Ramadan this year. Other expenses were for Ramadan shopping, both food (79%) and needs related to the moment (71%). One out of 3 people admitted to spending money on going home. When it comes to Ramadan shopping, 92% of respondents bought clothes. Many also purchased fashion accessories (59%) and footwear (54%). As many as 56% of women bought makeup/skincare and 1 in 4 men bought home décor. By age group, 49% of Gen Z bought makeup/skincare. While Millennials prefer clothing accessories (63%) and Gen X buys footwear (57%). Overall, 6 out of 10 respondents shopped Ramadan online. “From this survey, we can see that people’s shopping behavior during Ramadan is influenced by age groups. Generation Z, for example, has a higher interest in makeup and skincare products than the previous generation. This shows a difference in the preferences of the younger generation who focus more on appearance. However, in general, the purchase of fashion products before Eid al-Fitr is still a consumer favorite, especially with the current trend of family sarimbit clothes, “said Research Lead of Jakpat, Farida Hasna. Socializing in Ramadan As many as 36% of respondents gave 2024 Ramadan hampers. Most of the contents are food, such as pastries (68%), packaged food/drinks (57%), to basic necessities (42%). They give it to the closest people, such as family, friends, and neighbors. Regarding the budget, 42% of these buyers budgeted IDR 100-250 thousand for one hamper. “Indonesian people still uphold the tradition of sharing delivery during Ramadan, as a form of friendship. Our research shows that various types of food and drinks are still the most popular contents of hampers, such as pastries, ready-made foods, or groceries. In addition, worship equipment and Muslim clothing are also often used as delivery during Ramadan. Usually, the hampers are distributed in the weeks before Eid al-Fitr,” said Hasna. Another social activity that is also carried out in Ramadan is breaking the fast together. As many as 51% of those who came to the activity claimed to attend 2-4 iftar events. They came to iftar events attended by family (59%), close friends (49%), and school/college friends (38%). Homecoming/Vacation As many as 68% of respondents who work outside hometowns went mudik in 2024 Ramadan. Bandung City, Bogor Regency, and Garut Regency are the most homecoming destinations. A total of 56% of respondents said they went to their hometown in the fourth week of Ramadan. Then, the vehicles used for homecoming are dominated by private property, namely motorcycles (34%) and cars (27%). In addition to going home, some respondents vacation during 2024 Ramadan with a percentage of 6%. Three favorite destinations are Bandung Regency, Sukabumi Regency, and Malang City. Six out of 10 people intend to take a vacation after Eid al-Fitr. Download Report Request A Quote May 31, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Reports Consumer Behavior of 2024 Ramadan & Eid by Jakpat May 17, 2024 written by Jakpat Download Report Request A Quote Consumer Behavior of 2024 Ramadan & Eid – Jakpat Special Report In this political year, as we navigate diverse ideologies and societal complexities, the arrival of Ramadan provides a unique opportunity to emphasize our shared values Apparently, spending for Ramadan and Eid this year is more than last year. Much of the funds allocated for this moment are spent on matters related to personal needs. Jakpat surveyed 1117 Moslem respondents in Indonesia to capture their consumer behavior regarding budgets, shopping, hampers, preparing food for suhoor and iftar, iftar gatherings, as well as their homecoming or mudik activity. These results are based on a survey conducted 14-15th of April 2024. Key research points: To describe respondents’ behavior during 2024 Ramadan related to: Expenses (shopping & hampers) Food preparation for suhoor & iftar (include online delivery) Iftar gathering Mudik/holiday Media habit Here are some previews of the report: Download Report Request A Quote May 17, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Articles Sports Accessories Trends: 1 in 3 People Have a Smartwatch by Jakpat May 14, 2024 written by Jakpat Sports Accessories Trends: 1 in 3 People Have a Smartwatch The transition of the Covid-19 pandemic status to endemic has also affected the rise of sports events in 2023. People are starting to actively participate in sports activities again. Jakpat conducted a survey to find out the behavior and habits of sports event connoisseurs, especially participants. The report, which involved 2103 respondents, focused on preparation and budgeting when participating in sporting events. As many as 76% of respondents said they enjoyed watching sports events. Some liked to come directly to the location of the match with a percentage of 42%. Meanwhile, 22% of people claimed to have been participants in sports events. In general, almost half of respondents participated in 2-3 sports events in the last 6 months. Four out of 10 people admitted to participating in badminton events in the last half year. Other sports that was also quite popular are futsal (36%) and football (34%). In terms of gender, 1 out of 2 women played badminton. “Our interesting findings also suggest that hype about Gen Z’s concern for mental health is also reflected in their lifestyle choices, including exercise. Exercise is not only maintaining physical health, but also improving mental health, “said Jakpat Research Lead, Farida Hasna. There are various kinds of preparation before participating in sports events. Mental (88%) and physical (82%) preparation were the two main focuses of respondents. Speaking of gender, women (88%) tend to be more excited about preparing what to wear than men (57%). Sports event participation budget As many as 41% of respondents admitted to allocating special funds to participate in sports events. The rest said that they do not allocate these costs but have a reserve fund (47%) meanwhile some had to divert funds from other needs if they want to participate in sports events (14%). As many as 38% of respondents gave a registration fee budget below IDR 250 thousand for one sports event. Accessories for participating in sports events A few use sports accessories that support participation in sports events. As many as 71% of respondents admitted to owning a tumbler, meaning they brought their drink. Then, 54% of sports event participants have knee pads and 47% have sports waist bags. One in 3 people own a smartwatch. More than 85% of respondents allocated funds below IDR 350 thousand each to buy tumblers and sports caps. Meanwhile, 1 out of 3 people buy earphones for IDR 250-500 thousand to support them in sports events. “Not only for health, but sporting events are also now a means of socializing and hanging out. Not surprisingly, consumers are now ready to spend money to improve appearance while exercising, such as buying sportswear and wearable gadgets,” said Hasna. Download Report Request A Quote May 14, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Reports Sports Events: Participant’s Preparation & Budgeting by Jakpat May 10, 2024 written by Jakpat Download Report Request A Quote Sports Events: Participant’s Preparation & Budgeting – Jakpat Survey Report There are lots of ways to have fun with sports. Being active can make you healthier, less stressed, and better at sleeping and enduring activities. In this report, Jakpat will describe participant’s preparation and budgeting in joining sports events. These results are based on a survey conducted 16th-23rd of January 2024. Key research points: To find out preparations for participating in sports events To find out other needs for participating in sports events To find out budgeting for participating in sports events Here are some previews of the report: Download Report Request A Quote May 10, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Articles Ramadan 2024 Digital Research: Raffi-Gigi Promotes the Most on Social Media by Jakpat April 30, 2024 written by Jakpat Ramadan 2024 Digital Research: Raffi-Gigi Promotes the Most on Social Media Business people use the increase in shopping interest during Ramadan 2024 to intensify promotions. One of them is by using the services of influencers. On the other hand, influencers who have their businesses are also increasingly diligent in promoting their businesses on various social media. Seeing this phenomenon, Jakpat and Jangkara.id conducted a digital research in Ramadan 2024 to see the extent of product/service promotion carried out by influencers, and how the public responded to it. This report involved 1,180 respondents to the Jakpat online survey application and monitoring 4,151 posts on 50 Instagram influencers with the most followers in Indonesia curated by Jangkara. The survey was conducted during Ramadan in March 2024. The effectiveness of influencer promotion The online survey revealed that 87% of respondents agreed that promotion by influencers could make products better known to the public. Then, as many as 72% of respondents agree that product promotion through influencers on social media is more attractive than advertisements in mass media. As many as 65% of respondents claimed to be interested in buying products promoted by influencers. Fashion, beauty, and culinary products are the categories most interested in respondents. “Today, influencers are one of the sources of information for consumers in the purchase decision-making process. Therefore, the role of influencers who can provide detailed, accurate, and reliable information is very important,” said Jakpat Research Lead, Farida Hasna. Raffi-Gigi is the most popular and most actively promoted The survey results show that the couple Raffi Ahmad & Nagita Slavina (Raffi-Gigi) are the most popular influencers with 77% of respondents recognizing them. They also topped the rankings in terms of followers, with 75,4 million followers. Next is Prilly Latuconsina (65%) with 55,8 million followers and Baim Wong (64%) with 18,5 million followers. In line with that, based on monitoring on Instagram, Raffi-Nagita is also listed as the influencer who is most active in promoting products during Ramadan 2024. There were 419 posts (stories, image feeds, and video feeds) from @raffinagita1717 accounts that contained product promotions. Followed by Ivan Gunawan (379 posts), Citra Kirana (277 posts), and Ria Ricis (260 posts). Promoted products As many as 81% of Jakpat respondents stated that beauty products such as skincare, body care, perfume, and makeup; are the products most promoted by influencers. Other promotional products that respondents also often see are fashion (73%) and culinary (71%). Meanwhile, Instagram monitoring results noted that fashion products were the most promoted (34%) of all posts with the dominance of Muslim clothing promotions (813 promotions). Furthermore, culinary products (25%) with the most posts of food products (516 promotions), and beauty products (19%) with the most posts of skincare products (394 promotions). Download Report Request A Quote April 30, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail
Articles The Considerations in Choosing Chocolate for Valentine’s Gift by Jakpat April 26, 2024 written by Jakpat The Considerations in Choosing Chocolate for Valentine’s Gift The Indonesian society has its own unique behaviors when it comes to celebrating Valentine’s Day. Differences in gender, generation, and socioeconomic status (SES) also create interesting patterns. Through a survey involving 807 respondents, survey company Jakpat found that most Indonesians do not celebrate Valentine’s Day, only 28% do. Despite not celebrating it, 86% of respondents would purchase items with Valentine’s discounts. Outdoor activities are a top choice for Valentine’s celebrations, such as hangouts and romantic dinners at restaurants. When viewed across generations, Gen X tends to prefer outdoor activities such as hangouts (67%) and picnics (25%). Meanwhile, Gen Z is more connected to indoor activities such as watching movies (29%) and playing games (29%) at home. In preparing the budget for Valentine’s gifts, the majority provide funds of Rp50,000-250,000, with Gen Z preparing Rp100,000-250,000 and Gen X more prominently with an allocation of Rp500,000-1,000,000 for Valentine’s gifts. Social media such as Instagram (60%) and TikTok (56%) are the main sources of inspiration in finding Valentine’s gifts and celebration ideas. Aside from the internet, 44% of respondents also get inspiration from browsing storefronts both in person and online. Valentine’s Gift Purchases In general, respondents prefer to buy Valentine’s gifts in-store (65%) rather than online (52%). The top considerations when buying in a physical store are to be able to see firsthand the goods (71%) and product quality (70%). While price (79%) is the main consideration for purchasing Valentine’s gifts online. Speaking of what gifts to give, 8 out of 10 people give chocolates on Valentine’s Day. According to Septiana Widi Sugiastuti as Research Lead Jakpat, it is not surprising that chocolate is the most popular choice as a gift on this Valentine’s Day. “Some chocolate brands offer different types of chocolate in attractive packaging, as well as packages combining chocolate with other products such as flowers, greeting cards, or other romantic paraphernalia designed specifically for Valentine’s Day. It can be an attractive package for customers who are looking for a complete gift for Valentine’s Day,” he said. Instead of making homemade chocolate, as many as 97% of respondents chose to buy chocolate that was already on the market. Of the many choices of chocolate traded, the main considerations when buying it are quality (81%) and taste (77%). This can be a good opportunity for brands to increase their chocolate sales. “The quality and taste factors of chocolate are the main things to consider when buying chocolate on Valentine’s Day. Some ways of promotion can be done such as holding tasting events or demonstrations during the period leading up to Valentine’s Day. This allows customers to try different types of chocolate and choose the perfect gift for their loved ones.” Download Report Request A Quote April 26, 2024 0 comments 0 FacebookTwitterPinterestThreadsBlueskyEmail