LMRB launches Wallet Monitor - A new edge for marketers

1 October 2015 06:30 pm Views - 2589

Designed to track spending patterns of Sri Lankan households across Socio-Economic Classes

With the recent launch of Lanka Market Research Bureau Private Limited’s (LMRB) 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 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,” said LMRB Chief Executive Himalee Madurasinghe.

“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 SEC A to E for all provinces in Sri Lanka. 

In the 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 fast-moving consumer goods (FMCG) brands.

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 contact LMRB Head of Household Panel Chamika Fernando at chamika.fernando@lmrbint.com.