E-commerce is no longer the future, it’s the present. The Covid-19 pandemic attributed to the expedited increase in online sellers this past year. So if you are looking to embark on the journey of an online business, you may want to know about these amazing e-commerce platforms that are available right here in the Malaysian market.
The e-commerce landscape has been improving continuously over the years to provide better service to both sellers and buyers. However, if you are looking for reasons as to why you should consider an online platform as opposed to a storefront, here are a few.
Location, Cost and Premises
Location is always a huge drive in making a business successful; if you don’t have a great location, there are chances your business will struggle. Geographical position, on the other hand, isn’t as critical in the internet space. So instead of spending too much money on renting a space and setting it up, you get to reallocate those funds into purchasing more inventory or even getting a delivery system.
More product visibility
When you have an audience of a few million people, it is much easier to spread the word. You can optimize your product to meet the needs of your buyers by using online platforms. Of course, going online allows you to reach a larger audience, which means more and more people are looking at your store. Certainly, preferable to foot traffic.
Easy payment methods
With online platforms, you have access to more payment options. Virtual payment options are both secure and easily accessible. Plus you won’t have to rent physical credit card payment machines from banks if you were to opt-in for Visa checkout or an FPX payment gateway. There are so many options to choose from depending on the e-commerce platform you are on.
Top 5 e-Commerce Sites in Malaysia
Order of appearance is based on their total visits in the last six months (recorded March 2021), with data sourced from Semrush,
(Source: Semrush an online digital analysis tool, parameters include Competitors, date range: Oct2020 – March2021)
First up on this list is the most popular shopping app in Malaysia, Shopee! It originally launched in 2015 and has since raked in more than $4 million in U.S Dollars. The best thing about Shopee for you guys is that they have a ‘no commission’ policy on retailers. This means you can open your business and list your store and products on Shopee for FREE!
Moreover, Shopee offers a gazillion free shipping opportunities to its users, making it more than appealing to the greater audience.
If you have trouble setting up your account or navigating the Shopee space, they have dedicated relationship managers who can help you boost your online business. They can offer advice and guidance on your marketing and platform maintenance.
Lazada marketplace, known for its LazGlobal reach that opens up other markets to the local audience of Malaysia. Lazada too charges zero commission rate for all their shop categories. Growing over 35,000 sellers in the Malaysian e-commerce market.
Another great reason to consider Lazada for your online business is they have some massively influential logistic and shipping terms. Pairing up Lazada and their in house delivery matrix Lalamove offers efficient and reliable shipping services all around.
For your number one fashion needs, users always recommend Zalora. Founded in 2012, Zalora is a fashion app that deals in apparel and accessories. Now including small businesses on their platform, Zalora has put out a call for local fashion houses to be upfront and go online to reach a wider audience.
Unlike with our last two e-commerce platforms, you as a business owner, will not have to spend hours upon hours marketing your brand and your store. Zalora does most of this work for you, they provide specialist services going from advisory, marketing, warehouse and even production. Helping you get your business flying higher than before.
Probably the oldest platform on our list, Lelong has been on the e-commerce bandwagon since 1998. Lelong not only helps you sell to millions of users on their site, but they also help with training you as a business owner in expanding, learning and improving the reach of your platform.
Once you are fully integrated with Lelong, they will help you save time, by automating your inventory management, payment processing plus helping you transition into a seamless online seller.
Lelong offers increased surfing protection to its customers, ensuring that they are secure when browsing the web. You’d think this would be an issue in terms of getting more people to see your products, but it’s not. Lelong also actively drives traffic to your products to offer online sellers the best chance possible.
GoShop is Malaysia’s only e-commerce platform that is linked to a 24/7 TV shopping channel. GoShop is an emerging shopping destination with an exponentially growing customer base, brought to you by Astro, Malaysia’s number one satellite TV provider.
As mentioned, GoShop is tied to a 24/7 TV shopping channel that also offers satellite shopping. Old school, call in to purchase kind of shopping reaching a rather niche audience in and of itself. With this multichannel presence, you can expect that any business on this site will do well with its sales.
Business Strategy for Selling Online.
Let’s just set this up now, selling online DOES NOT mean all-or-nothing. There is no one place that you need to choose for an online business. If you want to open a shop on multiple platforms, go for it.
Test out different options, take your time and make the right decisions for your business.
If you already have an online store and are looking to reach new audiences or extend your reach, uploading your business to a second platform is not a crime. Consumers have come to expect multiple options when shopping for products, you’ll be doing them a favour by creating more opportunities for comparison.
Digital space is where you need to be
The world has gone online, the past year alone has seen the greatest movement to the online space because of a global pandemic. We are now a world without borders.
So if you’re an SME or business that can operate online on any platform, or on one of the platforms listed here today, we wish you the best of luck! It is your time.
If you are already into this online business platform, looking to boost your SME, well, here at Funding Societies we are currently offering you exclusive deals with our e-Commerce Financing. Click the button below to learn more about getting funding for your e-Commerce business today!Get Financing with Funding Societies
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