SINGAPORE: Over 70 per cent of Malaysian consumers surveyed estimated that their everyday online shopping transactions resulted in consistent savings of over 5.0 per cent.
Economic uncertainty was the primary reason as respondents valued every ringgit saved, with 50 per cent of buyers needing to reduce expenses in this environment, 14 per cent not earning enough to cover essentials, 10 per cent foreseeing major expenses in the coming months and 6.0 per cent providing for multiple dependents.
These insights were revealed in the 2022 “Celebrating the Heart of Malaysia on E-Commerce” survey conducted by Shopee Marketplace between July 19 and Aug 17, 2022, with voluntary feedback obtained from 3,356 Malaysian buyers and 2,132 Malaysian sellers on the platform.
“Interestingly, not all buyers prioritise discounts and vouchers exclusively. Seven in 10 Malaysians value ‘peace of mind’ over lower price,” said the head of marketing campaigns at Shopee Malaysia, Kenneth Soh, in a statement today.
From the survey, it was revealed that nine in 10 Malaysians still buy online despite the reopening of physical outlets because it is a learned and adopted habit.
The majority value having ‘peace of mind’, with 40 per cent enjoying the convenience of parcels delivered to their doorstep, 17 per cent feeling safe with Shopee Guarantee, and 10 per cent trusting reviews and pictures from other buyers.
For 49 per cent of buyers, Shopee is the top-of-mind shopping destination for lifestyle products, including home decoration items, fashion pieces, and health and beauty products.
Apart from that, 24 per cent of buyers purchase living essentials such as groceries and diapers from Shopee, 16 per cent look for tech devices like computers, mobile devices and TV, while the remaining 11 per cent buy automobile parts or work and school supplies.
“When Malaysian consumers express their values through online shopping preferences this way, we truly understand why eight in 10 local sellers started their selling journey online with Shopee.
“We are humbled to discover that half of our local sellers surveyed say the income earned on our platform is crucial as it enables them to support their families,” said Soh.
The majority of local sellers began selling online with Shopee to overcome existing limitations on their earnings and participation in the economy: 24 per cent because it is their only source of income, 5.0 per cent can’t get a job, 18 per cent need to supplement income and 24 per cent feel the pressures of higher costs of living.
