As political and business leaders of the Muslim world came together in Kuala Lumpur for the 6th World Islamic Economic Conference, a tectonic shift is happening in the Muslim world. According to Ogilvy & Mather’s survey on “Islamic Branding”, a new generation is redefining what it means to be modern and Muslim, creating new meanings of religious pride, economic progress and global citizenship.
In partnership with TNS, Ogilvy & Mather’s two-year survey in the making reveals what drives Muslims as consumers, against the vast backdrop of ethnic, economic, political and religious diversity of the Muslim world. Researchers looked at Islam through the lens of the tangible effect it has on how lives are lived and how that in turn affects brands and business. The research has identified trends and opportunities that are emerging from the world’s most interesting, dynamic yet controversial “marketplace”.
The report, entitled 'Brands, Islam and the New Muslim Consumer' also serves as the launchpad for Ogilvy Noor, a multidisciplinary global Islamic Branding practice that aims to help brands better engage with Muslim consumers worldwide. The Muslim consumer is viewed as a critically important segment for marketers, with the halal segment alone worth US$2.1 trillion, and growing at US$500 billion annually.
The report debunks many of the stereotypes that surround Muslim consumer attitudes towards brands and their marketing communications. For example, halal labels, while important to showcase certification, are no longer sufficient to persuade the New Muslim Consumer that the company behind the product conducts its business in line with Islamic values.
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