Industries face challenge of conservative spending consumers

Malaysia –Travel and tourism marketers will need to pick up the pace if they are to meet head on the new challenge of reaching Malaysians who are taking a more conservative approach to spending.

According to the results of a recent survey of 1000 Malaysians, half said they will travel less in the near future and 81 per cent saying they would specifically fly AirAsia if they did need to travel.

The study, conducted by Pulse, also found almost three quarters of the population (74%) planned to decrease spending and tighten their belts in general, as suggested by the prime minister after implementing a subsidy restructuring scheme which saw a hike in electricity tariff and fuel prices mid-this year.

In a previous study, reported recently by marketing-interactive.com, Pulse also found 58% of the population adapting new transportation modes ranging from riding a motorcycle and opting for public transportation when commuting to work from home.