Key things you need to know on consumer confidence, key behavioral, tech, e-wallet & e-sports trends in Malaysia. www.oppotus.com

1. MALAYSIANS
ON MALAYSIA
ESSENTIAL INSIGHTS INTO CONSUMER CONFIDENCE,
BEHAVIOURAL, TECH & E-WALLET TRENDS IN MALAYSIA
3Q 2023

2. MYCI SKYROCKETS IN
Q3’2023
WELCOME TO
MALAYSIANS
ON MALAYSIA
The Malaysian Confidence Index
(MYCI), an essential pulse check of
the nation, reflects Malaysia’s
adaptability and economic resilience.
Despite a dip in MYCI between Q1
and Q2, it is now a promising 140
points in Q3’23, reflecting growing
optimism among Malaysians about the
economy and their financial well-
being.
If you're eager to dive deeper into the
numbers and gain a more nuanced
understanding of the forces shaping
the future of business and finance,
don't hesitate to contact us at
theteam@oppotus.com.
THE E-WALLET PARADOX
In a somewhat surprising turn of
events, e-wallet usage in Malaysia
decreased, while the average monthly
spending through e-wallets increased.
This paradoxical phenomenon
suggests that while Malaysians are
using e-wallets less frequently, they
are spending more than ever before.
STRENGTHENING OF
FINANCIAL INDICATORS
Accompanied by advancing markers
of financial well-being and Malaysians’
outlook on the future, the nation
demonstrates a steadfast dedication
to consistent growth, regardless of the
current state of the economy. With the
passage of time, Malaysians look
forward to a future characterized by
balanced advancement and economic
resilience.
Q3’2023 INFLATION RATES
In Q3’23, inflation settled at 1.9%,
marking the lowest inflation rate
recorded since March 2021.
Transportation costs declined, and
there was a slight easing of price
pressures on food.
Hence, this might have played a role
in the increase observed across
nearly all indicators of the MYCI.
Our 'Malaysians on Malaysia' research
endeavors to discern contemporary
market dynamics and capture the
nation's prevailing pulse. Since its
inauguration in 2018, the study has
reliably elucidated the sentiments of
Malaysians.

3. 100
MALAYSIA CONFIDENCE INDEX (MYCI)
118
109 111 110
125
117
126
101
106 109 106
114
92
109
93
106 108
120
115
132 130
140
2Q18 3Q 4Q 1Q19 2Q 3Q 4Q 1Q20 2Q 3Q 4Q 1Q21 2Q 3Q 4Q 1Q22 2Q 3Q 4Q 1Q23 2Q 3Q23
Source: Oppotus 3Q2023

4. CURRENT FINANCIAL WELL-BEING
Monthly Household Income
Location
The current state of financial well-being
152
139
147
129
116
145
135
140
107
130
134
143
131132
119
129
136
156
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
146
167
175
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
RM4,501-RM7,000 RM7,001-RM10,000 RM10,001 and above
153
163
160
145
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
KL/PJ Penang JB Kuantan
*Kuantan was not included for 2Q2021
Source: Oppotus 3Q2023

5. OUTLOOK ON FINANCIAL WELL-BEING NEXT 12 MONTHS
Monthly Household Income
Location
Financial well-being next 12 months
149
155
143
153
145 145 141
147
132
147
120
128 129
138
122
140
142
158
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
153
165
163
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
RM4,501-RM7,000 RM7,001-RM10,000 RM10,001 and above
156
179
154
138
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
KL/PJ Penang JB Kuantan
*Kuantan was not included for 2Q2021
Source: Oppotus 3Q2023

6. SPEND ON MAJOR PURCHASES
Monthly Household Income
Location
Good time for major purchases
99
93
111
73
95 96 98 101
72
101
88
110
93
130
116
127
126
141
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
131
159
154
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
RM4,501-RM7,000 RM7,001-RM10,000 RM10,001 and above
151
124
149
127
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
KL/PJ Penang JB Kuantan
*Kuantan was not included for 2Q2021
Source: Oppotus 3Q2023

7. CURRENT STATE OF ECONOMY
Monthly Household Income
Location
State of economy now vs. last year
109
98
114
63
80
69
83 87
71
79
58
77
100
108
116
132
129
118
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
110
136
121
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
RM4,501-RM7,000 RM7,001-RM10,000 RM10,001 and above
142
97
122
86
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
KL/PJ Penang JB Kuantan
*Kuantan was not included for 2Q2021
Source: Oppotus 3Q2023

8. STATE OF ECONOMY NEXT 12 MONTHS
Monthly Household Income
Location
State of economy next 12 months
119
100
116
87
92 91
84
99
77
86
63
72
88 90
99
132
119
126
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
118
142
128
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
RM4,501-RM7,000 RM7,001-RM10,000 RM10,001 and above
137
142
123
83
0
50
100
150
200
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
KL/PJ Penang JB Kuantan
*Kuantan was not included for 2Q2021
Source: Oppotus 3Q2023

9. NOTABLE ACTIVITIES PAST 3 MONTHS
Online Shopping, %
Making online purchases from e-commerce
sites (e.g. Shopee, Lazada)
36 35 31
49 48 46 53 57 60 56
37 45 36 32 31 33
21
30
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Making purchases from live streaming
(e.g. FB live, etc.)
18 15
23 22 15 12 12
20 13 16
8 8 13
3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Apply for banking products online
(e.g. credit card, loans, etc.)
8 10 10 6 6 7 9 5 12 6 8 8 13 11 8 8 8 10
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Online Banking & Insurance, %
Purchased insurance products online
(e.g. car, fire, etc.)
Online Gaming, % E-Wallet, %
18 17 22 22 16 10
22 16 14 14 12 7
14
3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Play online games
(ALL devices)
Making payments through e-wallet
(digital wallet)
22 27
38
63 49 60 56 67 54 66 67 68 66 55 45
31
51
24
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Wearables, %
Used wearables (e.g. smart watch,
smart shoes, health, etc.)
13 15
29 23 21 24
16 17 22 24
44 35 30 28
14 12 10
18
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Source: Oppotus 3Q2023
10 10 13
4
16 10 10 12 14 14 9 16 12 10 11 12 8
16
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23

10. NOTABLE ACTIVITIES PAST 3 MONTHS (CONT.)
International travel
(outside Malaysia)
Having a meal at convenience
stores/petrol marts
Travel, %
47 46 50
37
6
34 39
23
12 5
72
50 43 36
25
40
28
38
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
18 17 17
7 0 1 1 1 3 0 0 0
10 4
14 10 11 11
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Domestic travel
(within Malaysia)
Purchase meal takeaway from
convenience stores/petrol marts
Eating OOH, %
49
37
51 58
30 34
19 16
26
3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
38
25 31 20 30 30 40 40
24 24 19 27 27 25 25 24 31
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Food Delivery, %
Order food directly from merchant’s food
delivery app (e.g. McDonald’s, KFC, etc.)
Order food through third party food
delivery app (e.g. Grab, foodpanda, etc.)
61 66 58 63
37 46 52 65 56 51 55 56
44 46
22 26 24 28
3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
38
11 12
40
24
36
14 22 21
3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
Source: Oppotus 3Q2023

11. 22
27
38
62
49
60
56
67
54
66 67 68 66
55
45
31
51
24
2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
E-WALLET USAGE
Used e-wallet in last 3 months? (Yes, %)
e-Penjana Campaign
31 Jul-30 Sep 2020
(RM50)
e-Tunai Rakyat
Campaign
15 Jan-14 Mar 2020
(RM30)
263.0 268.5 263.2
216.6
245.6
2021 2022 1Q2023 2Q2023 3Q2023
Average monthly e-wallet spending
(RM)
Source: Oppotus 3Q2023

12. 36 37
43
49 47
64 63
57
51 53
3Q22 4Q22 1Q23 2Q23 3Q23
Cash payments Digital payments (Any form)
%
SHARED USAGE OF CASH AND DIGITAL PAYMENT
METHODS
Source: Oppotus 3Q2023

13. 37
43
49 47
14
16
18
16
11
12
35
11
19
9
12
5
12 13
3
6
7 6 3
11
4Q22 1Q23 2Q23 3Q23
Cash Debit Card Bank Transfer Credit Card Bank App E-wallet BNPL
%
SHARED USAGE OF EACH PAYMENT METHOD
Source: Oppotus 3Q2023

14. E-WALLET USAGE – BY BRAND
Source: Oppotus 3Q2023
%
Top 5 e-wallets used
78
27
23
20
55
0
20
40
60
80
100
2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23

15. WHERE ARE E-WALLETS BEING USED?
52
35 33 31
26 25
22 21 19 17 16 16
8 6
0
20
40
60
80
100
2Q21, 3Q, 4Q, 1Q22, 2Q, 3Q, 4Q, 1Q23, 2Q23 3Q23
%
Source: Oppotus 3Q2023
Mobile
Reloads
Petrol Bill
Payments
Transportation Food
Delivery
E-commerce
Purchase
F&B Movie
Tickets
CVS Groceries Hotels Gaming Flight
Tickets
Services

16. TECH TRENDS
Source: Oppotus 3Q2023
28
4549
6164
53
60
78747070
65
58
50
44
73
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
25
64
706865
6059
7477
727270
605656
71
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
51
767474
67
62
57
81
93
72
81
76
716965
89
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
29
5152
60565352
68
61
70
6266
56
4845
72
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
26
4549
60
5148
64
76
63
73
68
61
55
4846
72
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
40
6266
747372
67
84
78
86
8178
72
67
60
85
0
25
50
75
100
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Cryptocurrency
(e.g. Bitcoin, Ethereum, etc.)
FinTech E-sports
Blockchain
%
30
58
727370
61
66
8185
70
78
68
61
56
51
75
0
25
50
75
100
1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Virtual Reality (VR) Artificial Intelligence (AI) Augmented Reality (AR)
%
Non-fungible token (NFT)
33
47
56
77
85
72 70 68
62
52
45
72
1Q21 3Q21 1Q22 3Q22 1Q23 3Q23

17. OWN ANY CRYPTOCURRENCY?
Source: Oppotus 3Q2023
28
22
30
23
26
14
39 38
31
33
41
39
20
34
25
37 36
31
26
40
0
10
20
30
40
50
60
4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
Yes, %

18. TYPES OF CRYPTOCURRENCY OWNED
Source: Oppotus 3Q2023
24
12
9 9
7
5 4
2 1 1
0
10
20
30
40
50
Bitcoin Bitcoin Cash ENJ
Dogecoin
4Q20, 1Q21, 2Q, 3Q, 4Q, 1Q22, 2Q, 3Q, 4Q, 1Q23, 2Q23 3Q23
%
Litecoin Ethereum NEM
NEO
Dash
XRP

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