As one of the emerging economies in Southeast Asia, Malaysia is a great technology investment destination. The tech industry in this country has been growing rapidly for the last several years. However, companies must be aware of the new Malaysia technology trends in order to thrive.
The covid-19 pandemic has transformed Malaysia consumer trends, behavior, and habits. Based on a survey, they will continue their new habits even after the post-covid. That is why being aware of these transformations is essential.
Highlights of the New Consumer Trends in Malaysia
Malaysians consumers currently value customer service quality more than before. In other words, they favor prices less. When they purchase a product, they will choose to purchase it from a company or a store that offers excellent customer service or treats them well.
In addition, these consumers expect companies to offer customer support in multiple platforms, whether it is online, offline, or something in between. According to a survey, 35% of Malaysian consumers prefer to get customer support in person, 14% via online chat, 17% by phone, and 34% through self-service.
Similar to consumers in other SEA countries, Malaysian consumers rely more on digital channels in most engagements, such as shopping, ordering food, and online banking, during the covid-19 pandemic. However, the pandemic causes the Malaysian consumers to be more cautious in their spending.
It is predicted that the culture of saving will continue for a while, even after the pandemic. They do it because they think that the near future still holds some uncertainties so that they want to have enough savings to face the uncertain conditions.
Malaysia Technology Trends
The general consumer trends above affect Malaysia technology trends. The trend of online retail and grocery shopping, using e-wallet, and ordering food via food delivery service will continue after the pandemic is over.
Over 90% of the Malaysian population has mobile phones and internet access. Therefore, it is no wonder that they feel comfortable in continuing the new digital habits above.
According to research, a large number of Malaysians will continue joining online classes, online religious services, and online exercise classes. Due to these trends, companies, organizations, and even retail stores must be able to offer something educational via their social media account to attract consumers.
These trends also offer new opportunities for educational institutions and experts to gain profit from providing online classes. Aside from the digital trends above, digital entertainment is also getting more popular among Malaysians.
They spend more time playing online games or mobile games. They also spend more time watching streaming videos and online TV shows during the pandemic. It is said that they will continue to do it post-pandemic.
Seizing the Opportunity in the Malaysia’s Tech Industry
The new trends in Malaysia’s tech trends spark new opportunities for investors and business owners. To seize these opportunities, you can ask for the assistance of a Malaysian market research company. This company has excellent expertise in helping its clients thrive in the region.
To ensure that you can reach what you aim for, choose a well-established market research company. Reading its portfolio and talking to their representative will help you determine how good the company is.
The new tech trends in Malaysia have sped up the corporate technology transformation. Companies in this country are hurrying up this transformation process in order to improve their digital capabilities during and after the pandemic. Therefore, tech investment is highly needed.