Understanding the Intention to Consume by the Consumers for MSME in Malaysia

kim seng, lee (2024) Understanding the Intention to Consume by the Consumers for MSME in Malaysia. PhD thesis, Unimas.

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Abstract

Micro, small and medium enterprises (MSMEs) make an important contribution to Malaysia's economy. The lack of market strategies is one of the biggest challenges for SMEs that hinders their growth. Private consumption as a measure of consumer spending that covers a multidisciplinary area is critical to economic development. The objective of this study is to investigate the impact of online search data on the estimation of private consumption in Malaysia. A comprehensive approach adopted incorporates both online and conventional models to estimate private consumption. The online search indicator used in the study was constructed from Google Trends data and focuses on product subcategories of the Shopee website in Malaysia. The dataset covers the period from 1 January 2016 to 31 March 2023. This research involves the development of an online search indicator for private consumption using principal component analysis, the construction of conventional leading economic indicators, and the estimation of online and conventional models for private consumption. The results of the variance decompositions suggest that the online model of private consumption could serve as a viable alternative or complement to the conventional model of private consumption. Looking ahead, this study envisages further exploration of search indicators for predicting private consumption, including multimodal models as data accumulation continues to increase.

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