It's about exposing, connecting, and engaging a larger customer base. Building a marketing network worthy of business growth and expansion. So what makes businesses succeed while others left trailing behind. We know that they share a common strategy. Here are some stories.
Ecommerce in Malaysia : Growth, Trends & Opportunities
The current state of Malaysian ecommerce market started taking shape in 2012 when two major players Lazada and Zalora launched their Malaysian operations, followed by Shopee in 2015. Fast forward to 2020, Malaysia’s eCommerce market is worth US$ 4.3 billion, and is expected to double to $8.1 billion by the year 2024; at 14% CAGR.
Surge in Grocery Ecommerce
Similar to other countries in Southeast Asia, grocery & FMCG ecommerce is rapidly growing in Malaysia. In fact, Malaysia ranked 2nd in Statista’s world’s fastest growing grocery market list in 2018, with only Singapore registering a higher YoY increase. IGD Asia predicts that online sales value of grocery in Malaysia will increase at a CAGR of more than 60 percent between 2017 and 2022 (https://asia.igd.com/Portals/4/Asia-online-forecasts-free-download.pdf).
Digitally-savvy, mobile-first consumers
Malaysia boasts of an incredible 140% mobile penetration and 85% internet penetration. More than 26 million Malaysians access the internet and 80% of users between the ages of 16 and 64 are already shopping online.
by Amrutha Aprameya excerps from https://www.capillarytech.com/blog/capillary/ecommerce/ecommerce-in-malaysia-growth/
Food Panda delivery staff earn RM18K within 2 months and work at least 12 hours a day!
Recently, a netizen, Safwan Seth, published a chart of the income details, and indicated that it was the income of Food Panda delivery staff. At the same time, he worked 725 hours and 28 minutes in 2 months, an average of 12 hours a day with no rest days.
In these 2 months, he delivered 2,651 takeaways, an average of 43 rounds a day. Many netizens praised this takeaway Abang for being very hardworking and working overtime because of wind and rain in order to get a better salary.
by Zaccheus excerps from https://rojaklah.com/2021/01/19/food-panda-income-xx190121/
The rise of online business in Malaysia
Internet has brought a revolution, enabling virtually anyone to create an online business and reach a large consumer population easily. Thanks to the shift towards online shopping, businesses of all sizes can now compete against bigger traditional companies and quickly grab a large market share on Internet.
The possility to shop online fosters a change in consumer behavior, opening new areas of business and services. This trend pushes traditional stores to move online and new startups to think of selling online first, if not online exclusively to reach the Malaysian online shoppers.
In certain traditional industries, Internet has brought new competitors and a larger offer to consumers, causing several companies which could not adapt to struggle or close down. Yet, for those that take the turn online, entrepreneurs and startups who wish tackle these new online markets, some structures can provide help.
Successful local entrepreneurs making it digitally
by Asean Up excerps from https://aseanup.com/the-rise-of-online-business-in-malaysia/
Facebook is saturated, micro-communities are where to go
“ROI on Facebook is now disproportionately low because it’s saturated,” agreed Joachim. "You've got no money to play that game."
Instead, Joachim advised smaller companies to move over to micro communities. "That's where the big brands are not because they can't concentrate on that level,” he clarified. “You're closer to the ground."
That need to share and connect is still what matters. Wara is acutely aware of the small piece of history she is making. “You don’t have to write a book about your life for the next generation,” she said “We have the platform, the phone in our hands now... this is our book, a story of how we started our business, right up to where we are right now.”
by Dzof Azmi excerps from https://www.digitalnewsasia.com/business/e-commerce-micro-entrepreneurs-story
ONLINE BUYING AND SELLING TAKING CENTRE STAGE
With around 90 percent of the Southeast Asian population accessing the internet through their smartphones, the Shopee’s mobile-first approach has been an eminent reason for Shopee’s growth over the years. Within 4 years, Shopee has successfully managed to establish the hold above the other marketplaces. The second largest eCommerce marketplace in the region, Shopee, purveyed around 147.6 million monthly visits record in June 2018. Shopee has become one of the most preferred marketplaces in the Southeast Asian region.
South East Asia’s #1 eCommerce player Lazada, has grown over the years and became the number one shopping and selling destination.
by Ketan Mishra excerps from https://cedcommerce.com/blog/shopee-growth-info-graphic/
Christina Ng, founder and owner of christyng.com
Utilising digital economy imperative
Although the current pandemic has had a severe impact on the global economy, the digital economy has proven instrumental in the battle against COVID-19.
To navigate this crisis, building new ecosystems utilising the digital economy is imperative. The digital economy is resilient, agile and can rapidly adjust to changes in market conditions, as reflected by China's pandemic response and other countries with a more integrated digital economy ecosystem.
The advantage of emerging markets, like Malaysia, is its ability to build new systems from the ground up, without the impairment from the legacy systems. In such nations, the digital economy can ensure the rise of mass entrepreneurship in place of old systems, which limits rapid social mobility and participation from marginalised groups in the formal economy.
Small and medium-sized enterprises (SMEs) are the backbone of any society for job creation and economic contribution. They are the pathfinders during the recovery journey. Those who can pivot their venture and quickly adopt digital technologies to enable their customers, partners and the local community, will have the best opportunity to survive and thrive in the long term.
by Brian A. Wong excerps from https://www.bernama.com/en/thoughts/news.php?id=1854262
Here's How to Start Online Business in Malaysia in Just 1 Day
To promote the popularity of your online store, a good marketing plan is very important. Promoting your online store by solely using online networking is not enough, you have to use a variety of channels to promote your store online as well as offline. You can list your products on the frequent viewed main page, categorize all your products and highlight product names, and add more detailed pictures to catch buyers’ attention. You can also exchange links to other online stores or websites to create a free advertisement.
by MalaysiaOnlineStore excerps from https://malaysiaonlinestore.blogspot.com/2013/06/steps-of-opening-online-store-in.html
Should Malaysia SME Go Digital?
You know that the best businesses survive by being adaptable. The world changes faster every year and you have to keep up in order to continue to do business. Consider how ten years ago, no one would suspect that you can do almost everything through a smartphone, that your car could be computerised, and the Internet would play such a big role in your life. You might wonder if there is a need to take your business online. Here are some reasons why your SME could use a digital platform.
Say Goodbye To Paper Money
Nowadays there are so many ways to pay for things that don’t involve using physical money. Debit cards, credit cards and online banking make payment so easy. And new developments are coming.
Our Government Is Recognising the Signs
The Malaysian Government has seen the coming tsunami of new technology headed our way and have taken steps to encourage the adoption of e-commerce.
Going Online is Really Big Business
A successful business is all about the bottom line and the payoff is big. Consider these success stories of local entrepreneurs who have made it in both the local and international market. Continue reading...
by Samuel Low excerps from https://www.bitcatcha.com/blog/how-malaysian-sme-can-get-online-fast-and-easy-way/
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