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Online shopping in Malaysia diversifies, continues to grow: 11street Shopping Index

AvantiKumar | Aug. 24, 2015
Mobile is also the future of eCommerce, said 11street's Hoseok Kim.

Hoseok Kim, CEO of 11street, Malaysia

Photo - Hoseok Kim, CEO, 11street.

 

According to online marketplace firm 11street's Online Shopping Index, Malaysian shopping behaviours are becoming more diverse with a ratio of 48 men: 52 women.

11street's chief executive officer Hoseok Kim said the index identified the changes during the recent four-week Ramadhan and Raya holiday period from 22 June to 19 July.

In addition to the increase of men shopping online, the survey points to mobile as a forerunner of future eCommerce, said Kim.

"Malaysia is one of the leading countries in the world when it comes to smartphone Internet access with the number of connected devices per person used by Malaysians which stood at 1.2 devices," he said.

"As online shopping becomes part of the Malaysian lifestyle, smartphones will play a vital role in enabling shoppers to grab good products and offers online at anytime, anywhere," Kim said.

"At least 40 percent of the shoppers are using their mobile devices to shop at 11street. Moreover, during Ramadhan, peak shopping hours began from the breaking fast period until midnight," he said.

Gross merchandise value

Kim said 11street's gross merchandise value (GMV) more than doubled during the Ramadhan and Raya period and "in just mere months, 11street achieved various milestones including a ranking of 40 on Alexa."

"GMV has surged significantly because of the Raya shopping season," he said.

Some other findings from the survey include

- Diverse purchasing: Contrary  to  popular belief that Fashion and Electronics are the most sought after categories, Malaysians shopped in diverse categories such as  Health & Beauty, Kids & Baby, Home & Living, Grocery, Services such as e-vouchers and many more. Also, according to the index, popular items that customers mostly searched during Ramadhan include baby car seats, Tupperware, Bluetooth earphone, and skincare.

Shopping by men:  During Ramadhan, men's interests lie went beyond Electronics, Sports and Leisure items to other categories including Kids & Baby items especially baby gears such as baby car seats.

Kim said the move towards mobile meant that businesses should adopt an omni-channel approach to continue to realise benefits from Malaysia's growing eCommerce market.

Speaking of 11street, he said that moving forward, the company will be developing a combined strategy, which includes widening product variety and price competitiveness while focusing on mobile.

"With the latest Malaysian online shopping insights in mind, we are committed to support the vital needs of sellers and online shoppers by building a stronger platform, and to enable customers to find what they love at 11street," said Kim.

 

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