As Malaysia surges forward with infrastructure projects and rising domestic demand on the back of promising GDP growth projection in 2024, businesses are facing a dual challenge: seizing opportunities in a growing market while navigating complex fiscal shifts. In this competitive landscape, data has become highly relevant. Companies that do not leverage precise insights risk missing market opportunities and losing their edge. Recent findings from MIDF underscore the importance of targeted fiscal measures in shaping the nation’s economic momentum, such as subsidy rationalisation and new taxation policies.

According to homegrown market research company Central Force, Malaysian businesses are facing significant challenges from evolving consumer behaviour to frequently changing policies. Central Force addresses these challenges by equipping businesses with accurate and timely insights to anticipate market shifts. Such data analytics provide actionable insights into consumer behaviour during periods of subsidy rationalization and rising inflation. Businesses could then adjust pricing strategies, product offerings, and communication approaches to align with evolving consumer priorities.

See Toh Wai Yu, Chief Executive Officer of Central Force

“We help businesses find gaps in the market and understand their competitors better, so they can create strategies that make them stand out. Our deep knowledge of the local landscape, combined with our robust data collection, gives our clients a solid foundation to make decisions they can feel confident about,” said See Toh Wai Yu, Chief Executive Officer of Central Force.

“Malaysia’s market is tough. Businesses are dealing with key challenges like fast-changing consumer behavior, ever-changing policies, and pressure to stay ahead in a crowded space. Trends and fads come and go quickly nowadays, so relying on old data just won’t cut it anymore.”

He shared how Central Force facilitated Indonesia’s Kenangan Coffee market entry into Malaysia by developing strategies tailored to local consumer preferences, identifying which flavours resonate more with local consumers.

During the COVID-19 pandemic, Central Force collaborated with The World Bank to study the impacts of the pandemic and lockdown measures on the Malaysian economy and its population. The research highlighted the disproportionate challenges faced by lower-income households and residents in East Malaysia, such as difficulties in paying rent and declining overall welfare. 

Central Force employs various survey methodologies from telephone surveys, in-depth interviews (IDIs) to focus group discussions (FGDs), backed by Computer-Assisted Telephone Interviewing (CATI) to deliver its insights. By focusing on stratified or random sampling techniques and quality control such as 100% data check, it ensures the insights derived are reflective of the intended audience. Among its partners include TNG Digital, Kenangan Coffee, Ganad, Sanctuary Billboards and Sony Pictures Entertainment Malaysia.

“At Central Force, we recognize that our primary role is not to enact societal change directly but to ensure that the data we collect and provide is robust, reliable, and actionable. Our work focuses on delivering research using transparent and methodologically sound processes, ensuring that policymakers and organizations have access to accurate and credible information to guide their decisions,” added Wai Yu.

For Malaysia’s businesses, the way forward is clear: embrace data-driven strategies, informed by local expertise or risk being left behind in the intensely competitive future. By offering a platform for diverse perspectives, Central Force hopes to bridge the gap between data and actionable solutions, transforming public opinion into an insightful tool that improves the relevance of business strategies and drives impactful change.