This data is analyzed by Macrotrends, a premier research platform for long-term investors. The data highlights significant trends in consumer spending over the past few years. From 2020 to 2023, Malaysia’s consumer spending has shown a continuous upward trend, reflecting a steady recovery and growth in consumption levels. This trend mirrors broader economic conditions, particularly the impact of the COVID-19 pandemic. Overview of Consumer in Malaysia Trends spending $205.89 B $216.63 B $234.43 B $241.51 B
Influence of Covid 19 2020 Lockdowns and restrictions led to a halt in economic activity, causing many people to lose their jobs or experience income reductions. Consumers became more cautious and reduced n o n - e s s e n t i a l spending, such as spending on travel, entertainment, and luxury items sharply decreased. Consumer Spending Decline The pandemic initially caused a drop in consumer spending, but it gradually recovered in 2021 and 2022. As the economy rebounds, spending is rising due to greater use of e-commerce, lifestyle changes, and a focus on essential goods and services.
economic helped 2021 Gradual Recovery in Spending lockdowns, for daily goods. As the economy reopened, consumer activity rebounded. 2022 2023 Sustained Consumer Spending Delayed spending on travel and entertainment surged as restrictions eased. Younger consumers favored experiencedriven and on-demand purchases. Economic growth and rising GDP boosted jobs, incomes, and consumer purchasing power. Government stimulus policies, including recovery plans, cash aid, and tax relief, restore consumer confidence. During consumers shifted to online shopping
The impact of the pandemic on consumption levels cannot be simply categorized as a boost. Instead, there was an initial decline followed by a gradual recovery, eventually returning to a growth trajectory. More importantly, the pandemic significantly altered consumer preferences and spending habits, including: As we observe the impact of the pandemic, it is also important to explore how different generations have adapted their spending habits and priorities in response to these changes. A greater reliance on online shopping. A preference for products that prioritize health and safety. Increased focus on value for money in purchases.
Gen Xers are often managing financial obligations such as mortgages and family expenses while striving for a comfortable lifestyle. They value quality over quantity and prioritize spending on durable goods and familyrelated needs. Products of the Gen X era were built to last. This rattan chair is a perfect example—strong, durable, and capable of lasting 10 to 20 years or more. Unlike today’s disposable furniture, people once invested in quality pieces that stood the test of time. Enamel pots were once a kitchen essential, designed to last for decades and even be passed down through generations. Their durability made them a reliable choice, unlike modern cookware that wears out quickly.
This generation seeks products that deliver reliability and longevity, balancing practicality with a willingness to invest in trusted brands. While some Gen Xers use e-commerce, a significant portion still prefers in-person shopping experiences. They trust brickand-mortar stores for quality assurance and prefer trying products before purchasing. However, they do research online to compare prices or read reviews before buying. genX
Gen Yers favor spending on experiences like travel, dining, and leisure activities. They are more willing to allocate their budget to lifestyle upgrades rather than accumulating material goods. Y gen
As digital natives, they heavily rely on e-commerce and mobile apps for convenience. They are also active on social media, using platforms to discover products and seek recommendations. Reviews and peer endorsements significantly influence their purchase decisions. Gen Yers are drawn to brands with strong ethics, prioritizing sustainability and inclusivity. They appreciate companies that align with their social values and are transparent in their practices.
Growing up in the digital era, Gen Z is the most comfortable with online shopping and mobile-first platforms. They rely heavily on social media influencers, trends, and viral content to guide their purchases. For them, shopping is a highly interactive and trend-driven experience. Gen Z tends to prioritize trendy and affordable products, with a focus on fast fashion, tech gadgets, and beauty items. They are more willing to experiment with new brands that match their aesthetic.
Gen Z strongly values sustainability and ethical consumption. They gravitate toward ecofriendly products and socially conscious brands, often factoring these qualities into their purchasing decisions. sustainable. genZ
How has the living the years? over of changed cost “ The cost of living has gone up. While salaries have increased, they haven’t kept pace with rising prices. Life is much tougher now. Take food, for example—years ago, RM5 could get you plenty of options, but today, it barely buys anything. What used to cost RM5 might now be RM10, doubling in price while salaries haven’t doubled. These days, I only spend on necessities like food and housing, cutting back on everything else whenever possible. ” son
“ Apart from basic expenses, I like to invest in self-improvement. If I really like certain clothes or food, I’ll buy them. Of course, I consider the price, but if I’ve thought about it for a long time, I’ll go for it. I also enjoy collecting LEGO, so I spend on that as well. ” “ I usually spend my money on shopping and food. When it comes to shopping, I mostly buy clothes, especially when I find something I really like. As for food, I often spend on lunch and bubble tea since I enjoy treating myself to good meals and drinks. ”
From the interviews, we gained valuable insights into how different generations approach spending, highlighting the personal priorities and cultural influences that shape their decisions. “The way we spend reveals not just our needs but also our values and aspirations as a society.” Generational differences in spending reflect not only economic shifts but also the evolving values and behaviors that define each era in Malaysia. Recap of Chapter
Chapter 7
triple Pov the “Two lives, one path, countless perspectives on what marriage means.”
In recent years, marriage rates have been declining while divorce rates continue to rise, a trend that has sparked discussions worldwide. In Malaysia, a country with diverse cultural and religious backgrounds, this issue takes on unique dimensions across different generations and ethnic groups. What are the reasons behind these changes? How do individuals from various age groups and races perceive the institution of marriage today? To explore these questions, we conducted interviews with people from different backgrounds, aiming to understand their views on modern marriage trends. This section highlights their diverse perspectives, offering insights into how societal norms, cultural values, and generational differences influence attitudes toward marriage and divorce. Intro
Marriage Tolerance Impulsive Careless Divorce
Marriage Trends This statistics, compiled by the Department of Statistics Malaysia (DOSM), highlights significant shifts in marriage patterns over recent years. According to the latest data, the number of marriages in Malaysia decreased by 12.5%, dropping from 215,022 in 2022 to 188,100 in 2023. This decline reflects broader societal changes and provides a valuable lens through which to examine the evolving institution of marriage in Malaysia. 215,022 168,467 46,555 2022 Muslim marriages, which constituted 74.5% of total marriages in 2023, saw a sharp 16.8% decline compared to the previous year. The Crude Marriage Rate (CMR) for Muslims fell from 8.2 in 2022 to 6.7 per thousand Muslim population in 2023. This trend might be influenced by stricter cultural and religious expectations, as well as financial constraints faced by many young couples. vs. Muslim Non Muslim
188,100 47,924 140,176 2023 These statistical trends prompt a deeper exploration into the underlying attitudes toward marriage across generations. How do societal, economic, and cultural factors influence decisions about marriage, and how do different generations view these commitments today? Malaysia Muslim Non Muslim Non-Muslim marriages increased by 2.9%, with the number rising from 46,555 in 2022 to 47,924 in 2023. The CMR for Non-Muslims remained steady at 4.0 per thousand Non-Muslim population. This stability could suggest greater flexibility in marriage norms or a more relaxed societal attitude toward marital commitments within Non-Muslim communities.
Older generations in Malaysia often hold a more traditional perspective on marriage, viewing it as a critical life milestone. Marriage is closely tied to the values of family honor and stability, and many elders believe it is their responsibility to guide younger family members toward settling down. When faced with challenges in marriage, this generation typically opts for endurance, emphasizing perseverance and duty. Divorce is often seen as a last resort, avoided whenever possible to maintain family harmony and uphold societal expectations. “You should marry while you are still young and energetic. Building a family takes time and patience,” is a common sentiment echoed by many in this group. genX
Z Y gen Younger Malaysians, on the other hand, approach marriage with a more pragmatic mindset. Many believe that rushing into marriage can lead to dissatisfaction later, preferring to focus on personal growth and career advancement first. Economic realities also play a significant role. Rising living costs, high property prices, and the pressure to afford a lavish wedding often delay marriage for younger generations. Additionally, many see personal happiness as paramount, leading to a more open attitude toward divorce if a relationship proves unfulfilling. Unlike their elders, these younger generations place less emphasis on societal expectations and are more likely to question traditional norms. Some even express contentment in remaining single, prioritizing their own ambitions and lifestyle over the perceived constraints of marriage.
Rising costs of living, unaffordable housing, and high wedding expenses are significant barriers. Younger individuals often prioritize building stable careers before committing to marriage. Economic Challenges Career Priorities Key Influencing Factors Decisions
There is a noticeable shift in societal values, where marriage is no longer seen as an essential step to a fulfilling life. Mental health awareness and self-care have become more prominent, with younger generations valuing personal happiness over societal approval. Changing Values Focus On Individual Well Being Although many couples enter marriage out of love, certain factors may eventually lead to divorce, making it an unavoidable reality for some. Here are several factors which have contributed to a growing reluctance toward marriage.
What is your “In the past, marriages were arranged, and divorce was seen as a disgrace. Now, people pursue love freely, and fewer constraints make divorce more common. Western influences have shifted mindsets, making separation more acceptable. People today leave due to personality clashes, whereas before, they had to endure.” declining? about marriage rates opinion
“Things aren’t looking good. I hope young people find partners—loneliness in old age isn’t easy. In the past, this was rare, but now it happens often. My husband even mentioned it. When you’re old, friends have families, and you might feel left out. Even without children, having a good partner means you won’t be alone.” “I think the current generation values freedom more and doesn’t want to feel tied down by marriage. Many also worry about the rising divorce rates. For me, marriage is important—it helps build strong relationships. I hope to take care of my future grandchildren with their parents’ permission, raising them with the values of past generations. I believe in teaching discipline without relying on devices and encouraging them to read the Bible and other holy books to develop faith and morals.”
“Many divorce because they rushed into marriage. I understand why some avoid it— financial concerns or wanting more freedom. But society judges women differently, so delaying too long can be risky. If you marry, choose wisely—divorce is complicated.” “Some don’t trust others or are too focused on careers. Many fear getting hurt, leading to fewer marriages. I don’t think staying single forever is ideal—everyone needs companionship, especially later in life. But don’t marry without love. Whether it’s a friend or a partner, having someone by your side matters. Still, marriage is the best choice.”
“Everything is so expensive now, and Gen Z sees that their parents aren’t perfect—they’ve made mistakes. Some of us don’t want to repeat those mistakes or hurt our kids, so we’d rather not marry. Others just don’t want commitment and prefer short-term relationships. Still, I think marriage is important. I don’t want to grow old alone—I want someone by my side. Plus, if no one gets married, the population will decline. So, in the end, marriage matters.”
The journey of Generations X, Y, and Z is a beautiful story of growth, change, and hope, where each has walked its own path while shaping the world in unique ways. Generation X, marked by resilience and independence, weathered the transitions of a shifting world, building strong foundations for the future. Generation Y, the dreamers and doers, embraced the digital age with optimism, finding new ways to connect and create purpose in an everchanging landscape. Generation Z, bold and innovative, carries fresh ideas and a vision for a more inclusive and sustainable future. Together, their journeys remind us that while each generation faces its own challenges and embraces its own triumphs, their paths are interconnected, moving us closer to a brighter and more united world. This shared story is a testament to the power of growth through understanding, showing that every step, no matter how different, adds to the beauty of the human experience and brings us closer to a future filled with endless possibilities. Recap of Chapter
“Every generation is shaped by its time, Gen X grew with freedom and shifting lines. From analog days to digital bright, Gen Y rode the internet’s rise. Gen Z was born in a world so fast, AI and screens—nothing seems to last. Each one evolves, each leaves a trace, Redefining the future, shaping its place.”
the grand finalen
The journeys of Generations X, Y and Z may be different but together, they form a powerful story of progress and change. Each generation has faced its own challenges, embraced new opportunities and contributed to shaping the world in unique ways. From resilience to innovation and bold reinvention, their combined impact drives society forward. As they continue to learn from one another, their shared experiences create a more connected, inclusive and hopeful future. This ongoing evolution reminds us that every generation plays a vital role in shaping what comes next, proving that growth is strongest when built on understanding and unity.