Spend More or Save More: Retail Investor Trends during Eid Al-Fitr in Indonesia

Spend More or Save More

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Retail Investor Trends during Eid Al-Fitr in IndonesiaIn Indonesia, Eid is more than just a season for worship. Many special things are different from Eid in other countries.
Starting from how to fast to iftar to things that are prepared for Eid. One of them is THR (Tunjangan Hari Raya) or which can be translated as the religious holiday allowance.
Following the Indonesian law, permanent employees must receive financial support once a year before their longest religious festivals.    

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THR is one of the important things to look forward to before Eid. People usually use THR for consumptive needs such as special Eid al-Fitr dishes, new clothes, home renovations, and others. This need is not only for celebration needs but also for following traditions with family and community. But some others use THR as extra savings. They can choose to spend more or save more.    

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Retail Investing Trends during Eid Al-Fitr    

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In the past, people who wanted to save more THR exchanged their money for gold jewelry. In addition to having an investment value, gold jewelry also has a prestige value to be shown to families and communities. However, with the increasing number of knowledge about finance and investment as well as various investment platforms promoted on social media, many people (especially millennials) are starting to shift to other investment products such as stocks and capital markets.    

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One of the studies also explains how retail investor sentiment is during Ramadan and Eid.

Investors seeking fast profits in the Muslim world should try to profit from the fast, buying shares prior to the start of Ramadan and selling them at the end of the holy month or preferably immediately after Eid al-Fitri.

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What Investment Platforms Should Do?

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With the huge opportunities that come from retail investors this Ramadan, the first thing investment platforms must do is ramp up the marketing campaign to capture the momentum. This is useful for encouraging retail investors to save more THR money and also attracting new users.    

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There are many things that need to be prepared in attracting new potential investors, starting from special interactive content, personal approaches such as personalized advice and also getting to know your prospective customers and their financial transactions through e-KYC. Apart from educating the market, this personal approach will also help more of your customers to invest.    

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How Brick Can Help The Investment Platforms    

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With Brick, you can do more than just know your customer (e-KYC). Brick can verify the user's identity through the ID card and compare the data such as their banking transactions and digital money transactions. Brick also simplifies verification through the API and makes it easier for Analysts to provide personalized advice to consumers and investors.    

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With these conveniences, Brick makes various transaction processes, both banking transactions and digital money transactions on various platforms easy to identify and makes it easier to provide credit, payment acceptance, and even investing acceptance. ***