Visa study shows: Malaysians will continue shopping in the “new normal” after the epidemic

After the outbreak, Malaysia implemented lockdown restrictions, and people's daily lives changed dramatically overnight . It was from this time that retailers and businesses began to seek new business models to adapt to the habits and preferences of consumers under the "new normal" shopping.

Visa's research shows that during the pandemic, more than 40% of Malaysians shopped for the first time through websites or apps, and more than 30% shopped online through social media channels for the first time. In addition, 88% of Malaysians used home delivery services, of which 36% were first-time users. As the number of people shopping in physical stores decreases, more and more Malaysians are turning to e-commerce platforms .

According to Visa research, online purchases through mobile apps and websites grew 83%, while purchases made via phone orders for direct delivery grew 65%.

Ng Kong Boon, country manager of the Malaysian Visa Agency , said: “ The pandemic has accelerated Malaysia’s move towards a cashless society compared to before the pandemic as we see more new users joining the fray and more Malaysians carrying less cash.

According to VisaNet data, one in five Visa cardholders who made no e-commerce purchases in 2019 made their first online purchase in the first half of last year.

He also mentioned that the pandemic has led to a 63% surge in contactless card payments among contactless payment users . “ On average , 7 out of every 10 transactions are contactless payments. As Malaysians become more health-conscious, contactless payments can bring more assurance that users can make transactions in a safe environment. This provides an opportunity for the country , ” Kong Boon added.

After waiting for the epidemic to end and the lockdown restrictions to be lifted, travel will become the most popular consumption. Among them, 43 % of Malaysians said they wanted to travel abroad , 30% were willing to spend money on domestic travel , and 14% of respondents wanted to take a domestic vacation in their own city.

Malaysia

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