In 2018, we saw the fiercest battles amongst the top e-commerce players in the region. This was evident as we saw increased investment in online and offline marketing initiatives from e-commerce players. One of them was Lazada, who organised an extravagant Singles’ Day offline show in Malaysia, Thailand, and Vietnam and broadcasted it more than 5 million viewers. Similarly, top players such as Tokopedia, Shopee, Tiki and others each initiated big promotional campaigns during vital sale periods for Singles’ Day, Hari Raya Aidilfitri, Lunar New Year, and 12.12 Sale in a bid to become the biggest player in the region.
In the last quarter of 2018, we saw fierce competition in the e-commerce arena. E-commerce business of all sizes undertook various initiatives to promote online sales periods such as the Singles’ Day Sale, 12.12 Sales, Black Friday, and various year-end sales. This makes the final quarter the most active period for e-commerce and solidifies this period as the most important quarter of the year for most online businesses in Southeast Asia and Malaysia.
Internet marketing is a great tool when it comes to penetrating a certain market. The Malaysian population as of today consists of 32.2 million people. According to ASEAN Up, it was recorded that over 25 million or 77% of the population are connected to the internet, 24 million or 74.5% of the population are active social media users, and 22 million which is equivalent to 68% of the population who are active mobile social users.
The idea of having a business of our own is a leap that some would call courageous, adventurous or a bad idea. The history of how businesses evolve and innovate around us is a fascinating journey. According to academia, Malaysia’s history in dealing businesses with foreign countries dates back to the year 1957, just before the independence day which produced a total revenue of 313 million sterling pounds which is RM 1.6 billion in today’s amount. Over 3 decades ago in 1988, the introduction of the internet had begun to revolutionise the Malaysian’s way of life. This was when the Malaysian Institute of Microelectronic Systems (MIMOS) started to set up their network system called Rangkaian Komputer Malaysia. In 1996 Telekom Malaysia Berhad (TMB) received a license to launch their services which was when TMnet was introduced to the Malaysians.
Lazada maintains its leading position as the most visited e-commerce company of the year Shopee reduces Lazada’s lead by 66% to become its closest competitor by November 2018 The total visits of South East Asia’s top 10 e-commerce platforms grew at an average 53% in 2018 Players from Indonesia and Vietnam such as Tokopedia, Bukalapak, and Blibli, Thegioididong, and Tiki were impressive on a regional level though they’re only available in a single market
Most Visited E-commerce Platforms on Desktop and Mobile Web in Malaysia and Southeast Asia in 2018
Malaysia is officially the second country in Southeast Asia (SEA) to introduce a Digital Tax which could apply to both local and international players. Slated to be implemented by 1 January 2020, the tax is aimed to level the playing field and spark better competition in its e-commerce sector.
In November 2018, Google & Temasek updated their industry study stating that eCommerce in Southeast Asia (SEA) will be worth US$240 billion by the year 2025. The updated figures upped last year’s predictions by US$40 billion due to exponential development in online vacation rentals, online food delivery, subscription music and video on demand products.
The Singles’ Day sale, also known as the 11.11 Sale, obtained worldwide attention as Alibaba Group announced its achievement of US$30 billion in gross merchandise value (GMV). The e-commerce giant achieved a higher GMV as compared to its previous year at US$25 billion, although it garnered a lower growth rate.
Last year, Alibaba raked in a total RM105 billion (US$25 billion) in revenue on Singles’ Day (also known as 11.11 Sale), recording a massive 39 percent increase in sales when compared to 2016. The massive sales period in China has found its way into Southeast Asia today to become one of the most important digital periods of the year.
iPrice Group recently updated the Map of E-commerce, ranking Malaysia’s top 50 e-commerce merchants based on the latest Q3 2018 data. The rankings were based on data points such as web visits, mobile application rankings, social media followers and number of employees. The top e-commerce merchants are Lazada with an average of 23 million monthly web visits followed by Shopee at 15 million and 11street at 7 million average monthly web visits.
The upcoming Budget 2019 slated to be announced on 2 November is exceptionally important to provide direction for the country. More importantly, in the direction and support on the growth of the digital sector in Malaysia.
Kuala Lumpur — iPrice Group, Southeast Asia’s leading product discovery and price comparison platform, raised a new round of funding from LINE Ventures, with participation from Cento Ventures and Venturra.