The final quarter of 2018 is beginning soon and along with it comes Malaysia’s most vital online sale periods. This includes the 11.11 (also known as Singles Day), Black Friday, 12.12 Sale and other year-end sales. This is ecommerce’s most crucial period as revenue and online traffic is set to double during the sale festival.
Most important findings from the Map of Ecommerce Q2 2018:
Earlier in 2018, I made three key predictions on the ecommerce landscape in Southeast Asia. With less than 4 months more till the end of 2018, we have witnessed the fulfilment of two out of three predictions. One of my predictions was that China will increase its investments into Southeast Asia‘s digital economy. This was hugely evident though Alibaba’s involvement in the region’s digital economy.
Kuala Lumpur, August 15, 2018— iPrice Group, Southeast Asia's leading product discovery and comparison platform, has extended its latest funding round to welcome Naver as their latest investor.
Within the span of less than a year, both Singapore & Malaysia made history in the political arena with women appointed at vital governmental positions for the first time. In Singapore, Halimah Yacob was elected the President of Singapore while Dr. Wan Azizah was officially made as the first women deputy prime minister in Malaysia. This major milestone for women wasn’t just for the two countries but for Southeast Asia as well where only 30 women per-every 100 men are in leadership positions.
On the 21st of May 2018, Malaysia made history as Dr. Wan Azizah was officially made as the first women deputy prime minister in Malaysia. This event is significant because Dr. Wan Azizah is one of a very few female leaders in Southeast Asia to be sworn in as a deputy prime minister. This was also an important milestone as various studies have shown that organisations are more likely to thrive when there is an adequate representation of genders.
The eCommerce sector is one of the fastest growing and most attractive industries in Malaysia. The latest estimate by Statista revealed that the eCommerce platform has garnered revenue of RM4.2 billion by the end of 2017. Furthermore, the industry is expected to generate RM9.8 billion in revenue by 2022.
On June 18th, Alibaba Group opened its national office in Malaysia, the first in Southeast Asia. This marks a new chapter in the company’s strategic cooperation with Malaysia, which housed the group’s first overseas electronic world trade platform (eWTP) hub. Its primary focus is to help Malaysian businesses identify global cross-border trade opportunities and provide cloud computing services.
According to a research by JWT, young Muslim women in Southeast Asia are coming of age at a time of societal flux. The report stated that while they are more devout than their predecessors, they are also professionally ambitious and more cosmopolitan in their outlook. More than just women, this is evident in Muslim men as well.
With more than 330 million internet users in Southeast Asia (SEA), various researchers & analysts has highlighted that eCommerce in the region is well on track to become a major industry in the years to come. A research by Google indicated that SEA’s internet economy growth has exceeded expectations and has reached $50 billion in 2017, outpacing earlier growth expectations by 35%.
The 9th of May 2018 went down in history books as among the most significant days in the history of Malaysia. As the nation concluded the election period with the swearing-in of its seventh prime minister on 10th May, eCommerce platforms experienced a significant dip in online traffic as Malaysians were focused on the elections during this period. In a bid to understand online consumers, iPrice conducted this brief study to find out how the elections affected eCommerce platforms in the country.