*this article was originally published on MarketingMagazine.com.my
COVID-19 influenced societal shifts and consumer behaviour trends have raised the stakes on the housing market globally. In Malaysia, due to government imposed movement control orders, property buyers and sellers are increasingly leveraging on online platforms when entering the market.
69% of property buyers prefer to go on-online than offline platforms for information when it comes to browsing for properties, a recent survey conducted by Malaysia-based market research company, Insightz Club** revealed.
One of the reasons Mudah.my is a popular choice among buyers and sellers is because the philosophy behind the platform is its name, Mudah or easy. When compared to other online property platforms, it was found that 30% of the respondents claimed Mudah.my is their most often visited site and almost 50% said they have used the platform in the past 6 months.
According to Mudah.my’s internal data, the platform sees an average of 1.9 million unique visitors per month visiting the property section.
Among the respondents who picked Mudah.my as their most often visited site and respondents who had visited the platform in the past six months, 60% are male and a majority of them are of 35 years and above with a monthly income of RM 7,000 and below.
To investigate further, the respondents were asked to rate the different online platforms in terms of likeliness to consider and likeliness to recommend. Based on their responses, the survey report revealed that Mudah.my is leading in the overall property segment and is especially the most highly rated online platform among property sellers.
On the other hand, property buyers remain an asset to the Malaysian economy despite the on-going pandemic because individuals who purchase properties tend to continue spending on household related items, such as electronics. Despite the fact that 70% of the survey respondents admitted that they are saving and investing their money instead of spending it during these uncertain times, the findings also revealed that 86% of property buyers have plans to change or buy electrical items for the properties they purchase.
Among 15 items listed in one of the survey questions as electrical items they are most likely to change or buy, the top 5 consisted of costlier items. They were: refrigerators, air conditioners, washing machines, cooktops and ranges and smart televisions; further emphasising that Malaysians continue to have strong purchase intent for essential appliances.
As the largest online marketplace, Mudah.my sees an average of 341,000 unique visitors per month who browse for home electronics as it serves as an end-to-end platform for property owners and even sellers. By providing a platform for not only big-tickets-items such as properties but also other essential electrical items, Mudah.my remains an integral part of the consumer’s purchase journey.
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** The survey, which was conducted using 626 Malaysians use online platforms to sell, buy or browse for products such as new or used cars and new or sub-sales properties, also revealed that Mudah.my is the most popular online platform for all property selling and buying activities. InsightzClub is a new age consumer insights firm that helps consumer brands obtain intelligent insights to make data driven decisions.