Synovate PAX survey finds downturn did not dampen spending by Malaysian elites

23 November 2009

KUALA LUMPUR — Synovate, a leading global market intelligence company, recently released its 2009 PAX survey findings, revealing that affluent consumers in Malaysia continued to spend despite the recession in the past year. More elite Malaysians now own a laptop / notebook computer compared to last year, from 56.5% to 62.7%. Malaysia's affluent is also the top group across Asia Pacific owning private cars (95.5% of elites have one).

In its 13th year, Synovate PAX is the region's most comprehensive study of elite adults, tracking media and digital consumption, prosperity, and influence across 11 markets: Hong Kong, Singapore, Korea, Taiwan, Thailand, Malaysia, India, Indonesia, the Philippines, Japan and Australia.

The survey is conducted year-round, and Synovate spoke with 1,738 affluent residents in Kuala Lumpur to get the 2009 results.

Affluent consumers vital for many categories

An indication of the power of the rich, about one third (33.2%) of elites in Kuala Lumpur have gone on one or more leisure trips in the past 12 months, compared to 15% of the general population.

Over 62% of affluent consumers in Kuala Lumpur own a laptop / notebook computer, which is 22% more than the general population (41%). This is similar for digital video cameras (50.1% of affluent consumers vs. 39% of the general population), private cars (95.5% vs.81%), SLR digital still cameras (21.5% vs. 13%), mobiles with Internet access and camera functions (58.4% vs. 54%), and luxury watches (16.5% vs. 7%). Please refer to the following figure for a graphical comparison.

Ownership of several product categories between affluent consumers and the general population in Kuala Lumpur

Continue to spend in good times and bad

Affluent consumers in Kuala Lumpur show the highest intention across Asia Pacific to purchase luxury products (18.2%). A larger number of Malaysians owning designer accessories & footwear (US$500+ per item) is also seen from last year (7.5%) to this year (9%).

Ownership of MP4 players jumped from 16.5% to 20.3%, as did ownership of digital still cameras, from 44.6% of elites having one in their bag last year to 51.5% this year.

Malaysia is the third top market in Asia, after Taipei (48.9%) and Singapore (51.3%), in ownership of a Mastercard (46%).

"Affluent Malaysians enjoy spending, and it seems like this is not affected by the economic condition," said Steve Murphy, Managing Director of Synovate in Malaysia. "Kuala Lumpur is the second highest market with handheld PCs ownership (17.3%), after Hong Kong (18.3%). It is also the third highest market with mobile phone ownership at 95.6%. Average spending on quality wine also saw an increase from US$141.77 last year to US$151.2 this year."

Changing habits and mindsets

More elites in Kuala Lumpur also have access to the Internet, from 75.3% last year to 79.3% this year. Their internet access has also increased whether it's from home (from 58.1% to 64.1%), from work (50.7% to 55.9%), or anywhere else (8.5% to 11.1%).

Despite the downturn, a majority of affluent Malaysians (68%) still indicate they are willing to pay extra for quality - this has held steady from over the past year. More elites are also prepared to consider buying new brands, up almost 6% from last year's 36.9%.

More Malaysian elites are also setting their eyes on what's happening internationally. Over 45% of elites said international publications are more insightful, an increase of 3.5% from last year, while over 50% said the same for international channels, almost a 3% raise. Thirty-four percent indicated they are interested in international political issues, up from last year's 31.4%.

For more results on Synovate PAX 2009, please refer to the facts sheet attached.

Download PAX 2009 Kuala Lumpur Fact Sheet (PDF 65Kb)

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