Finding small pleasures in daily life has become a comforting ritual for many. Whether it’s enjoying a meal, indulging in a bit of shopping, or sipping on a cup of coffee, these little moments add some joy to the routine.
But as inflation and the rising cost of living continue to put pressure on wallets, it’s worth asking: Are we spending too much on the things we crave?
M’sians spend RM70 to RM100 a week on coffee alone
For Malaysians, especially millennials, coffee seems to be an essential part of their daily routine – and it’s showing in their spending.
According to Alvin Vong, CEO of EquitiesTracker, many are willing to spend between RM70 to RM100 a week on coffee, which explains why local coffee brand Zus Coffee recorded a staggering revenue of RM204.12 million for the financial year ending June 30, 2023 (FY2023).
This is a massive leap from RM15.68 million in 2021, highlighting how Malaysians, particularly millennials, are driving this coffee trend.
In fact, a 2023 report from the Malaysia Coffee Association (MCA) found that 85% of millennials drink coffee at least once a day. No wonder coffee shops are sprouting up everywhere!
How Much Are You Really Spending?
Whether it’s Starbucks, Zus Coffee, or a cozy cafe, your daily coffee habit isn’t as cheap as you think. Here’s the math:
- RM10 per cup of coffee = RM300 a month.
- Over the course of a year, that’s RM3,600 on coffee alone.
Now, consider what you could do if you saved or invested that money instead.
Alvin Vong suggests that if you invest RM300 a month with a 6% annual return over 10 years, you could potentially accumulate RM48,742 – which could go a long way toward a 10% down payment on a house worth RM500,000.
Tea Trends Are Just As Costly
For those who prefer tea over coffee, the costs aren’t much different.
Premium tea brand CHAGEE charges around RM14.90 per cup, making it pricier than your average meal. If you buy one every two days, that adds up to RM223.50 a month, which is no small expense.
Coffee Shops Keep Booming Despite Rising Costs
Even with inflation and increasing living expenses, Malaysians still crave their caffeine fix.
“Despite the rising cost of living, people cannot live without their morning and afternoon boost.”
A report by The Star notes that more coffee chains are entering the market, signalling that coffee consumption remains strong, even in tough economic times.
