Prepared exclusively for fund managers and investment bankers covering the FMCG sector, this report examines how politically-driven consumer behaviour is reshaping markets in Malaysia and Indonesia.

Key areas of coverage include:

• Background and evolution of consumer boycott campaigns.
• How geopolitical events, armed conflicts can translate into purchasing decisions.
• Differences in intensity, narrative drivers, and retail impact across both markets.
• Strategic missteps by established brands.
• Suggestions for calibrated advocacy and stakeholder engagement approaches.
• Rebuilding brand trust through credible, localised engagement.
• Rise of local and artisanal challenger brands.
• How smaller brands are leveraging on social media authenticity.
• Potential long-term impact to the FMCG industry.