Every year, the same ritual returns. 9.9. 10.10. 11.11. 12.12.

While mega-sales are still very much alive across Southeast Asia, shoppers are getting harder to impress. A new six-country study of 3,008 shoppers across Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines finds that the hype for mega-sales is changing. People are still shopping. They’re just becoming a lot more selective about what makes it into the cart.

The hype isn’t what it used to be

First, the excitement. Only 34% of shoppers across the region say they still look forward to mega-sale events every year. But that regional average hides a pretty big difference between markets.

In the Philippines, 63% of shoppers are still genuinely excited about mega-sales. Singapore? Just 17%. In fact, 40% of Singaporean shoppers say they only shop during mega-sales if they genuinely need something, while 6% go one step further and call the whole thing a marketing gimmick. But Singaporeans haven’t exactly stopped shopping. They’ve just stopped getting swept up in the spectacle.

Across the region, 44% of shoppers say they participate in mega-sales more or about the same amount as they did a few years ago. Another 22% are shopping less, while only 4% have dropped out completely. It’s not dead, just lost a little of its magic.

Turns out, the biggest competitor is the cost of living

If sales fatigue isn’t the whole story, what is? The wallet.

A whopping 87% of shoppers say rising living costs have changed how they shop during online sales. Almost half, 45%, say they are now much more careful with their spending. Indonesia and the Philippines feel this most strongly, with 58% and 56% respectively saying they are much more careful. Singapore comes in at just 25%.

That tells us something important. In Singapore, the cooler attitude towards mega-sales may have more to do with being over the hype than being squeezed by the wallet. Elsewhere, especially Indonesia and the Philippines, the shift is much more closely tied to affordability. And that caution is showing up in what people actually do when the sales arrive.

The era of the accidental cart is fading

Only 10% of shoppers say they mostly buy on impulse during mega-sales. Meanwhile, 55% say they buy only what they need, and 56% either prepare a shopping list beforehand or already have a rough idea of what they want. In other words, shoppers are arriving prepared. What was once a shopping spree is quietly becoming a budgeting exercise.

For brands and platforms, this shift matters. Mega-sales aren’t becoming irrelevant. But the old playbook of endless countdowns, and flashing banners may be losing some of its power, particularly in more mature markets. Shoppers are increasingly looking for something much simpler: a good deal on something they actually want. That means the brands that win may be the ones that make shopping feel smarter, rather than more urgent.

Think of better wishlists. More useful recommendations. Genuine discounts. Easier ways to compare prices. And fewer notifications screaming that the clock is ticking when, frankly, it probably isn’t.

Mega-sales aren’t dying. They’re growing up.

The mega-sale isn’t going anywhere. But the shopper turning up for it has changed.

Southeast Asians are still hunting for deals, filling carts and waiting for 11.11 to roll around. They’re just doing it with a little more planning, a little less FOMO and, increasingly, one eye on the bank balance.

Based on findings from Milieu’s 2026 SEA Mega-Sale Season Study. Survey conducted between 7 to 11 August 2026, across Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines. N=3,008. Interested to access the full dataset? Get in touch with us at sales@mili.eu