LMRB launches Wallet Monitor

Friday, 25 September 2015 00:00 - - {{hitsCtrl.values.hits}}

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With the recent launch of LMRB’s Wallet Monitor, Sri Lankan marketers can now access an extensive database of the most sought after information areas that can significantly change the way marketers target their potential consumer. The Wallet Monitor provides a deeper understanding of spending priorities of Sri Lankan households by offering the user information on how and where people spend their money, what is important and relevant to them, on which categories they spend the most amount of money, and so on.

“This is the first time that Sri Lankan marketing professionals would have access to such detailed household expense data which can be linked to Socio Economic Class (SEC), brand usage and psychographics,” LMRB Chief Executive Himalee Madurasinghe said.

“Wallet Monitor is an innovative survey done by LMRB, giving an in-depth understanding of spending patterns of Sri Lankan consumers along with their brand preferences, demographics and psychographics. It serves as a handy strategic marketing tool enabling marketers to decode consumption priorities and identify untapped opportunities,” Madurasinghe added.

The information in Wallet Monitor 2015 presents household level expenses over 90 categories, across Socio Economic Classes (SEC) A to E for all provinces in Sri Lanka.

In future, what would become even more valuable for the Wallet Monitor subscriber would be the ability to identify changing expenditure patterns over time since it is planned to repeat the survey periodically. Such findings would help marketers discover emerging opportunities in consumer spending.

In addition to the expenditure patterns of the brand user, the report provides an in-depth understanding of trends in consumer behaviour by incorporating information from the LMRB Household Purchase Panel which tracks more than 2,000 FMCG brands.

Lanka Market Research Bureau Ltd. (LMRB) was established in 1981 as Sri Lanka’s first independent, international market research agency. LMRB is part of the Kantar Group, UK.

For more details on the Wallet Monitor, please contact Chamika Fernando, Head of LMRB Household Panel on [email protected].