Malaysia: Consumer Profile

October 2023

Population expansion, higher birth rates, large youth cohort, migration and urbanisation continue to shape Malaysia’s demographic landscape. Cultural inclination to save and budget influence consumer spending patterns, while expanding middle class present opportunities in various sectors. Going forward, the influence of Millennials on consumer preferences will solidify. Couples with children will remain the largest household type, fuelling demand for family-centric products and services.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.


The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Malaysia report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Malaysia report answers:

  • How consumers in  Malaysia are changing? 
  • What are key changes in Malaysia population, society and generational structure and how it is affecting businesses?
  •  What is the household structure in Malaysia and how it is changing consumer landscape?
  • What are key income groups in Malaysia? What is the outlook for the future?
  • Where consumers are  spending the money in Malaysia? 
  • How is the consumer mindset in Malaysia changing?
  • In Malaysia, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Malaysia?
Download Table of Contents
Scope
Key drivers affecting consumers in Malaysia in 2022
How developments today shape tomorrow’s consumer
Key findings
Today 2022: Population aged 30-44 constitutes the largest age group in Malaysia
Today: Positive natural change and net migration levels give boost to population growth
Malaysian consumers prefer frugality and brands they trust completely
Tomorrow 2040: Ageing to accelerate, with 65+ increasing at a significant rate
Tomorrow : Millennials to remain the largest cohort in 2040, Gen Z will be 30-45 years old
Tomorrow : Johor Bahru to grow at the fastest pace among Malaysian cities
Areas of opportunity
Case study: Thriving urban lifestyle facilitates expansion of franchise giants such as Starbucks
Today 2022: 4-person living arrangement constitutes the majority of Malaysian households
Prevalence of families with children in Malaysia necessitates larger homes
Energy efficiency remains among top priorities for home features
Tomorrow 2040: Despite growth in childless families, couples with children to dominate
Gender inequalities persist, while males remain key household decision makers
Nearly universal internet access provides fertile ground for digital advancements
Areas of opportunity
Case study: Data centers expand in Malaysia as digital transformation continues
Today 2022: Lower income groups feel the strongest impact of increased costs of living
Financial aid to the lowest income households helped to better withstand economic woes
Nearly half of Malaysian consumers aim to save more over 2023
Tomorrow 2040: The lowest income class E to remain prevalent by 2040
Tomorrow 2040: Malaysia is on the path to become a high-income economy
Tomorrow 2040: Kuala Lumpur and George Town to remain the largest consumer markets
Areas of opportunity
Case study: Expanding higher education opportunities through international collaboration
Key findings consumer survey
Younger generations have a more positive outlook on their future
Government aids Malaysia’s youth pressured by financial insecurities
Baby Boomers look for bargains more than other cohorts
Strong work-life balance and high salary deemed as the most desirable work priorities
Malaysian Baby Boomers lead in green initiatives amid climate concerns
Areas of opportunity
Case study: Companies integrate recycled ocean-bound plastic in food packaging
Key takeaways
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