How is credit being used as a part of consumerism in Malaysia today?
From data in recent quarters, we have been seeing an uptick in purchases and spending amongst Malaysians, and whilst it’s an indicator of consumer confidence, it’s important to note that credit is also often used as a means of furthering one’s consumption.
“Consumer credit is a way for people who spend money on products to get an advance on the money required to pay for the object.”
And while, as you might expect, certain segments of consumers tend to use more of credit (or debt) to further their lifestyle. The question is, which segments of population have a higher tendency? It is also important to note credit usage on what types of products tend to be more of a norm, and how those behaviour and perceptions are evolving over time.
Extracted from our quarterly efforts from “Malaysians on Malaysia”, we aggregated data from over 1500 Malaysians’ feedback across key cities of Malaysia on what is their behaviour and perceptions when it comes to usage of debt, and what lifestyle products are benefiting from this.
Take a look at the infographic listing below, and as always, if you would like to dig deeper into the data, feel free to contact us at firstname.lastname@example.org!