MALAYSIA’S e-commerce industry is set to further accelerate and evolve this year on the back of the current movement control order (MCO 3.0) and consumers’ hesitancy for physical shopping due to the raging COVID-19 pandemic.
According to an internal findings by Commerce.Asia, the country’s e-commerce industry more than doubled last year as compared to 2019 when it grew by 30% to 50%.
Its executive chairman Ganesh Kumar Bangah expects the e-commerce industry to remain north bound by 50% as people become more familiar online and given there is now more trust about buying online coupled with logistics and payments infrastructure getting more mature with new digital sales channels developing.
“When Malaysia underwent MCO 1.0 in 1Q 2020, that was when we saw e-commerce take off in a big way,” he told FocusM. “This paradigm shift in consumer behaviour has happened overnight, benefitting early adopters of e-commerce platforms.”
The Commerce.Asia group of companies is an ‘all-in-one’ e-commerce ecosystem that has gained a reputation for integrating best-of-breed technology solutions, talent development programmes and big data insights for local Southeast Asian businesses to succeed online.
One of the tools that Commerce.Asia has developed was the enablement of ‘live commerce’ on Facebook Live.
“Essentially, it is about the fusion of e-commerce and live-streaming which centres on influencers showcasing and promoting products and services to viewers,” revealed Ganesh.
“We expect this industry to soar in the years ahead which is why Commerce.Asia has successfully teamed up with my other company Netccentric Ltd – renowned as being ‘Asia’s prioneering growth ecosystem’ – to establish Nuffnang Live Commerce in 2H 2020 with an aim of serving as a live commerce enabler for companies looking to expand their e-commerce business.”
Today, Nuffnang has one of the largest influencer community reach in Malaysia (by revenue) and has one of the most comprehensive networks of some 15,000 celebrities, personalities and content creators across all levels of society and diversity with a collective reach to more than 20 million consumers in Malaysia, Singapore and Taiwan.
Nuffnang Live Commerce also recently embarked on a collaboration with Shopify, thereby empowering Shopify’s merchants to promote and sell directly on Facebook Live.
Today, Commerce.Asia has a database of nine million small medium enterprises (SMEs) spread across seven countries, coupled with 102,000 active sellers who sold more than RM3.4 bil (or more than US$850 mil) worth of goods in 2020. – May 18, 2021