Just right before the big day of Merdeka, Shopee revealed some interesting statistics about Malaysians’ spending behavior in terms of supporting local sellers and brands among other quirky figures. All in all, an “everything Malaysian” research.
When asked about why we buy from local sources to 3,356 consumers, 30% of them are going for the quality and preference category as Malaysian sellers are the ones who best know what Malaysians wanted while the highest at 42% simply want them delivered to their doorstep faster.
Meanwhile, one out of five respondents is talking about the big macro game of the economy where supporting local sellers means driving Malaysia’s growth financially and the last 8% tackles the B2B side of things where merchants supporting merchants to create a positive feedback loop.
On the other hand, with inflation and global political instability essentially driving prices up everywhere, the only thing one can do to keep up with their life balance is to save more. As 50% of respondents are cutting down their expenses due to the aforementioned reasons, a good 20% like to save up because they like to save and only spend on essential things and critical moments.
Meanwhile, 10% of interviewed Malaysians are expecting a major event to make them pay a large sum out of their own pocket so they are saving up in order to accommodate for that. Lastly, 14% are simply not earning enough to cover the bare minimum and about 5% provide for others and have to go do their shopping in one big swoop.
Here are some points that are not listed within the infographics.
- 7 in 10 Malaysian favor peace of mind over lower prices (e.g official guarantee/warranty)
- 9 in 10 Malaysian still buys online over brick and mortar due to it becoming a habit
- 49% of respondents buy lifestyle products preferably on Shopee
- 24% of Malaysian sellers on Shopee fully depend on the platform while 30% started their business due to passion
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