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What's next for E-Commerce in Malaysia! The Next Captivating Tool for Your Business!
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Digital commerce (E-commerce) is in the trend of growing, in Malaysia, there are more than 26 million Malaysians use internet in their daily life, no matter for social media, entertainment, learning, business or other purposes.
In the worldwide, e-commerce jumped a big range of 49% in April 2020, due to the Corona Virus, most of the traditional offline business now changed to do their activities online. Here are the growing trends of e-commerce in different fields:
- E-commerce increased by 49%
- Online grocery sales increased by 110%
- Electronics sales increased by 58%
- Apparel sales increased by 34%
“As online is absorbing the offline retail economy, some inflation is being observed for the first time in years, especially in categories that have consistently experience online deflation, such as electronics,” Taylor Schreiner, a director at Adobe Digital Insights, said in a statement.
According to the data from Global Web Index, it shows that 80 percent of Malaysian users who between the ages of 16 and 64 are already shopping online.
(Source from Global Web Index)
Online Shopping instead of Going to Physical Store
E-commerce in Malaysia has significantly advanced over the years, most of the Malaysians are starting used with the convenience of e-commerce. Nowadays, many consumers prefer to do their purchases online instead of offline shopping. Rather than going to the physical retail store, this is definitely can save much of the consumers' time in travelling and doing the purchases.
Besides, e-commerce not only benefits the consumers, but at the same time, the business owners or merchants can also save their time and costs while gaining profits from online sales. By the platform of e-commerce, merchants can save the several costs of rental, shop renovation fee, sales people wages, and so on.
Top E-commerce Player in Southeast- Asia
Among all of the Southeast-Asian countries, Malaysians already spend considerably more on online purchases, although the average e-commerce revenue per user (ARPU) in Malaysia is still barely quarter of the global average. Online shopping of Malaysia is the next talked about the buzz in the industry today. The revenue of Southeast Asia is amounting to US$1,077,761 in 2020, which means that the e-commerce in Malaysia can be foreseen clearly in future, Malaysia will continue to enjoy the strong growth in online shopping over the coming years.
Moreover, as per the statistics department, the e-commerce economy of Malaysia is expected to rise by 20.8% in 2020. With the 32.37 million population, Malaysia attracts a wide variety of companies both from the local and global e-commerce market, to come in and create a lot of great online platforms. Hence, bringing in a massive opportunity for the SMEs and e-commerce veterans in Malaysia.
Driving patrons with alluring products and quick, comfortable services, e-commerce in Malaysia is growing at a high pace. With many e-commerce platforms available in Malaysia, below are the top 10 e-commerce sites in Malaysia that are worth to note:
- Lazada (https://www.lazada.com.my/)
- Shopee (https://shopee.com.my)
- Mudah (https://www.mudah.my/)
- PrestoMall (https://www.prestomall.com/)
- Lelong (https://www.lelong.com.my/)
- Hermo (https://www.hermo.my/)
- Zalora (https://www.zalora.com.my/)
- Carousell (https://my.carousell.com/)
- Ezbuy (https://ezbuy.my/)
- Ebay (https://www.ebay.com.my/)
The e-commerce giants, Shopee, Lazada, PrestoMall, eBay and so on have now renowned marketplaces tapped into the market and became the popular Malaysia E-commerce Platforms. Thus, holding the title of Malaysia E-commerce websites and definitely became the best way for merchants to start their online business.
Besides the website, below are the Southeast Asia's Top Mobile Shopping Apps which are popular among the consumers:
(Source: https://datareportal.com/reports/digital-2019-ecommerce-in-malaysia)
Social Media is the New Trend!
Social media platforms are the new captivating tool to drive people to your products. Being more efficient and effective, social media are much a better way in spreading even the slightest information of your products to the audiences, who are interesting or even who are never hear your products before.
(Source: Google Image)
As one of the efficient e-commerce platforms, social media not only for online shopping. It is more to educate the consumers, to let them know more about your products, to build a strong image in the mind of consumers. Besides this, social media is available for business owners to interact with their online audiences. Replying the comments with great interactions, answering the QnA by customers, doing live video to promote the products and chatting with customers as well as build a good image of providing excellent customer services. These are the advantages of social media as e-commerce platforms, it is not only one-way but two-way interaction.
Start Your Business Online Now!
According to the data from Statisca, the number of online social network users in Malaysia is expected to rise to around 26.1 million users in 2023, up from 22.7 million in year of 2017. This will brings the increase in online sales directly as the more online social network users in Malaysia, which will be a good trend to expand the business and make a growth in profits.
In the year of 2020, due to the affects of Corona Virus, companies that are built for e-commerce are doing well and even better than years before. Compared to the retailers that have not invested in digital commerce, the are in deep trouble and realized the importance of e-commerce.
Building e-commerce site is easy but it will need more time, effort and budget to implement right digital marketing funnel in your store. However, the advantages of e-commerce are definitely greater than the efforts gave in, in term of branding and profits.
The time is now! Start your business on online platform, to grab all the advantages and bring your business up to another level!
Designed for all seller that wanna go digital! www.makkiah.online
