KUALA LUMPUR, 25 NOVEMBER 2009 -- Malaysians are expected to spend nearly half of their holiday cash online, according to a survey by online payment firm PayPal.
An eBay company, PayPal’s Southeast Asia and India general manager, Mario Shiliashki, said despite the weakened economy, Malaysians are entering into the festive spirit with six in 10 shoppers expected to spend more or the same amount during the upcoming holiday season, as compared to last year.
“According to a new PayPal survey released, the average festive spending among Malaysians this year is expected to be US$212 (RM730), with Chinese New Year topping the spending charts and averaging US$278 (RM954) per person,” said Shiliashki.
He said more than half of Malaysians intend to shop online. “Malaysians also proved to be savvy online shoppers, with more than half intending to shop online and 44 per cent of overall holiday expenditure expected to be spent online.”
“When quizzed, Malaysians cited time (75 per cent), crowds (64 per cent) and access to a wider range of products (51 per cent) as the main reasons for avoiding the shops,” said Shiliashki.
The PayPal survey was conducted by BlackBox from 17 to 30 August 2009. There were a total of 1,203 participants—300 respondents per country in India, Singapore and Malaysia and 303 in Thailand. Respondents were made up of online and non-online shoppers, and the major festive seasons polled were Christmas, Chinese New Year and Hari Raya.
More than a quarter buy from overseas websites
Shiliashki said two in five Malaysians prefer buying from online overseas merchants, citing product availability and choice, the offer of well-known brands and a more appealing website experience as the top reasons for shopping overseas.
“Yet, overseas sellers should take note of buyer dislikes—high delivery fees, lengthy delivery times and lack of contact during a dispute were cited as the major disadvantages to shopping on overseas websites,” he added. “When it comes to online shopping, Malaysians are looking for a wider product range, assurance in payment security and product quality for the optimum online shopping experience.”
“Out of the four countries surveyed, Malaysians showed the strongest preference for overseas merchants online,” said Shiliashki. “In today’s e-commerce climate, consumers expect easy, secure and cost-effective cross-border trade, and it is important that online merchants offer such an experience to consumers from both the local and overseas market. PayPal understands the needs of both merchants and buyers globally and, as a result, connects the two securely, conveniently and quickly.”
“Many online merchants will be gearing up for the festive period and encouragingly it looks like spending is due to remain stable, if not rise in Malaysia,” said Shiliashki.
