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Boom or bust? It's not about how the economy is doing, but how we perceive it

We don’t have enough money because our expectations from life have been rising. We are no longer content with a modest cup of RM1.30 Hainanese coffee but a RM13 gourmet brew. We don’t go for neighbourhood food stall for dinner any more, but posh seafood restaurant. The year-end family trip is not to Cameron Highlands but snowy Hokkaido, and our first car is not a Proton but a Honda. The more we expect from life, the more cash we would need to get ourselves satisfied. This, nevertheless, is not a bad thing but a positive force to move the human race forward. Another important point: As our society keeps changing, so does our economy. Some of our malls are empty, not because the economy is bad but because we simply have too many malls around, not to mention online shopping popular among the young that makes physical shops almost redundant at times. Some businesses are not doing well not because consumption is weak, but because of a shift in consumerism pattern. Some of the shops are still operating in the old-fashioned ways of the last century, rarely appealing to our fashion-conscious millennials today. Many furniture manufacturers grumble about poor business, but on the opening best online shopping sites for women's clothing day of Ikea Tebrau, shoppers queued up outside for hours before daybreak just to get into the massive furniture mall.

For the original version including any supplementary images or video, visit https://www.nst.com.my/opinion/columnists/2017/12/318425/boom-or-bust-its-not-about-how-economy-doing-how-we-perceive-it

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