Photo - Dato' Yasmin Mahmood, CEO, MDeC announces MyCyberSale results
According to Malaysia's national ICT agency Multimedia Development Corporation [MDeC], the country's first national cybersale - MyCyberSale - has surpassed targets by registering a total of RM67,385,595 [about US$20.5 million] in sales from 179,617 local online shoppers.
MDeC chief executive officer Dato' Yasmin Mahmood said that the results of the three-day online campaign, held between September 29th to October 1st 2014, announced earlier this year under the Digital Malaysia initiative, passed the targets of RM50 [US$15.21] million sales by 134 percent and of 100,000 buyers by 179 percent.
The sale included 3,700 merchants from 280 e-Marketplaces, representing reputable local and foreign online retailers. These merchants catered to 4.7 million Malaysians, about 16 percent of the Malaysian population, and achieved a 6 percent in conversion rate throughout the sale, said Yasmin.
"With the Malaysian e-commerce industry expected to grow to RM72.3 [US$21.99] billion by 2015, the MyCyberSale has done a great job in not only generating demand amongst consumers in online shopping but also serves as encouragement in enticing local small to medium enterprises (SMEs) to jump onto the e-commerce ecosystem," she said.
"The results clearly show that Malaysia's e-commerce industry is thriving with opportunities," said Yasmin. "Local SMEs should strike while the iron is hot as we look to increase the domestic e-commerce revenue, making Malaysia one of the world's biggest net exporters."
She added that 68 percent of the online sale's shoppers were from Kuala Lumpur and Selangor while 6 percent of online shoppers outside of the Klang Valley were from Penang and Johor. "During the sale, online traffic rose to 222 percent while online shoppers who visited the MyCyberSale website, showed a distinctive interest in the electronics, gadget, and fashion segments."
Smartphones and e-commerce
Yasmin said that the online sale also brought to light some key trends about the local e-commerce scenario. "Interestingly, 57 percent of all visits to the MyCyberSale website were through mobile phones. According to eCommerceMILO, Malaysia's mobile penetration has risen to 51 percent, where one in every two Malaysian adults owns a smartphone."
The global e-commerce industry is projected to grow exponentially, the business-to-consumer (B2C) online sales alone was expected to reach US$1.5 trillion (RM4.5 trillion) by the end of the year, she said.
"This bodes well for Malaysia as the MyCyberSale shows encouraging support in the nation's e-commerce industry," said Yasmin. "E-Marketplaces were the main key driver of the online sale in terms of number of buyers, number of orders, and number of unique visitors, taking about 50 percent of the pie and edging out the travel and hospitability segment."
"Due to the overwhelming success, the MyCyberSale strengthens our commitment to grow Malaysia's e-commerce industry, which is aligned with Digital Malaysia's imperative journey towards building a digital economy by the year 2020," she said. "The MyCyberSale will continue in the coming year and we call upon our local e-Marketers to participate and support this journey in growing the local e-commerce ecosystem."
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