According to a recent online survey conducted by 11street with 2000 respondents, Malaysians are transitioning into a more cautious way of spending during festive season as they evolve into smart spenders.
The result shows that respondents from Terengganu are generally considered the wisest in managing their overall budget, with 80% indicated that they save for Raya, compared to other states. KL people are 43% more likely to not save, either because they are able to manage their spending or are swiping their credit cards to accommodate their shopping spree. In short, urbanites from KL who do not intend to save are three times more than those in Terengganu.
Check out some interesting findings from the survey conducted:
As you can see from the chart above, the survey showed the most neccessary and popular item during the Raya celebration is Baju Raya. 78% of the respondents said that they will purchase new Hari Raya clothing before purchasing any other items which include accessories, shoes, and luxury branded items.
The survey also showed that 95% of Malaysians are positive about online shopping, suggesting that technology is playing a big role in making Raya celebrations possible.
In a nutshell,
– Malaysians are very prudent in their financial welfare, spending only within their means.
– Malaysians are still very adherent to traditions, and tradition has proven to be a main factor of their decision making process.
– Online shopping is widely accepted in Malaysia, and is gaining more and more popularity.
Access here for more information on 11Street’s Manis Ramadhan, Meriah Lebaran campaign, or contact 03-2720 0000.
