At Terer, delving deep into consumer behavior is not just a strategy—it’s our pathway to creating unparalleled value and experiences for our users. By analyzing our consumer demographics, spending patterns, and the most popular deals, we can tailor our services to meet the specific needs of our clientele.
Who Are Terer Consumers?
Our core consumer demographic is both dynamic and discerning. Predominantly aged between 25 to 35 years old, our users are primarily female professionals working in white-collar jobs. This group, with an average annual income of RM54,000, reflects a blend of ambition. Our user base is largely composed of Chinese Malaysians and Malay Malaysians, embodying the cultural diversity of Malaysia while sharing common values of quality and convenience.
Spending Power and Preferences
A key metric that illustrates our users' engagement is their average spending power, which stands at RM43 as of April 2024. Our consumers have shown a strong preference for coffee and set meals, particularly from renowned outlets such as NIJU and Tiny Food Cafe. This underscores the commitment of our users to invest in long term saving options that enhance their daily lives.
Top-Selling Deals
The popularity of our deals is a testament to Terer’s ability to cater to diverse tastes and preferences. Here are some of the top-selling deals that have captured the hearts (and taste buds) of our users:
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3 Cup Coconut Shake Series from Cocolicious: Offering a refreshing twist, these shakes are perfect for those seeking a tropical indulgence.
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2 Breakfast Meals from Tiny: These deals provide a perfect start to the day with delicious and wholesome breakfast options.
These best-selling deals illustrate a valuable market trend where regular customers enjoy purchasing multiples of their favorites at a better rate. This not only highlights the importance of variety and value in our offerings but shows the demand for deals that allow customers to indulge in their preferred choices more frequently and economically.
Average Discount Benefits
One of the standout features of the Terer app is the substantial savings it offers. On average, Terer users enjoy a discount of 26.5% per deal. This significant saving not only makes premium food and beverage options more accessible but also enhances customer satisfaction and loyalty. The ability to enjoy top-notch products at reduced prices is a compelling reason why consumers choose Terer time and again.
The Power of Buying Multiples
The Terer model of buying in multiples is more than a sales strategy—it’s a game-changer in consumer convenience and satisfaction. By encouraging users to purchase multiple items in advance, we simplify the buying process and add value to their everyday experiences. This model has proven to be incredibly successful, as evidenced by the high rate of returning buyers who purchase weekly from their favorite merchants through the Terer app. It also gives Terer merchants a chance to upsell to their returning customers.
Terer Product Stickiness
One of the most remarkable aspects of Terer's success is the strong engagement and stickiness of our app. Data reveals that 32.8% of our users redeem all their purchased coupons on the same day they make the purchase, while the remaining 67.2% save their coupons to redeem at a later date. This demonstrates the lasting appeal of Terer, as users are saving their redemptions for future use.
Overview
Understanding the behavior and preferences of Terer consumers is crucial to our mission of delivering exceptional value and convenience. Our focus on young individuals, strategic discounting, and the convenience of multiple-purchase deals ensure that we continue to resonate with our audience. These insights drive our continuous improvement and innovation, enabling us to enhance the Terer experience for all users.
As we move forward, we remain committed to understanding and responding to our consumers' needs, ensuring that Terer remains the go-to app for quality, convenience, and long term saving. Stay tuned for more updates and exciting deals as we continue to transform Kuala Lumpur’s dining rituals!