E-commerce Malaysia: Top 5 Platforms

Coming to 2019, with smartphones as mandatory companions to almost every human existence on the still debated flat or sphere earth, it is not a piece of news that shopping environment and ecosystem has changed drastically as the technology evolved.

The Rise of E-commerce

The developed world has a new side to it when e-commerce was launched.

People stopped rushing to the malls to catch their limited time deals and discounts, where today, instead of picking up a fight for the last piece of clothes you’ve been aiming for, it has become an online battle of internet speed with the other virtual person.

Nevertheless, though e-commerce is one of the top ways to make money online, there are also various other ways to do so.

Online Biz Everywhere

With the presence of a multitude of e-commerce Malaysia platforms, Malaysia has seen potential in getting the consumer ecosystem more competitive and contemporary. The country sees a chance in making the online biz world as a stepping stone to aim for a cashless society in 20 years.

Since the effort of the government to better oversee the e-commerce transactions, more consumers and business has built a more solid trust in both selling and buying goods and services online.

It is always better to choose the right niche that you can gain the most profit from your e-commerce business.

Government and Advanced Rules & Regulations for E-commerce

This issue especially has been further addressed by the endeavour of government who realized that reviewing the existing consumer protection law is a must to ensure that e-commerce Malaysia ecosystem stays productive and efficient for both sides of the B2C.

As e-commerce has become more acceptable and relevant in the large community of Malaysia, it cannot be denied that e-commerce has become the highest potential platform for transaction fraud to take place.

Hence why the Ministry of Domestic Trade and Consumer Affairs has taken it seriously in reviewing the existing legal clauses.

Fashion Industry and Online Shopping

Facing the fast fashion scene, more and more industry players have catered or attempt to cater to the society who has become more fashion conscious. It is not rare to find a clothing advertisement on social media at least twice a day on the timeline.

Thus why it is said that online fashion retail has grown to be four to five times higher than offline fashion retail.

However, with the expectation of online consumers that online shopping makes easy, the challenge for the retail industry players is to produce frictionless shopping experiences for a more holistic service provided to the consumers.

Hence why today, more e-commerce aims for a hassle free transaction for consumers to avoid them back out before potential checkout. This can be seen through the partnership between the omnichannel of e-commerce and the iPay88, one of the largest payment gateway operator in Malaysia.

Malaysia & International Partnership

In addition, over the year, mobile phones are said to be the key catalyst for e-commerce’s growth in the country, making Malaysia be a benchmark in e-commerce for Belgium.

The country, recently partnered with the Alibaba Group Holding Ltd to create a trade hub under the Electronic World Trade Platform (eWTP) initiative.

Malaysia, as the first country outside China to have partnered with the world-renowned multinational conglomerate, has been seen by Belgium as a standard for the country online platform as it was the first European Union country to sign up to the eWTP.

With no further ado, here are the top 5 e-commerce business sites that if you haven’t shopped from, you’re doing online shopping wrong all these while.

The Top 5 E-commerce Business Sites in Malaysia

1. Lazada

The Highest Online Traffic

Lazada is one of the fastest growing Southeast Asia e-commerce platform founded by Rocket Internet and owned by the Alibaba Group. As the most visited e-commerce site in Malaysia with a traffic ranking of 27.99 million visitors, Lazada is renowned for its wide range of various category of goods sold.

Doraemon-Pocket Store

From small machines such as electronic devices to complicated machines such as automotive and motorcycles, Lazada caters to a huge community in Malaysia, hence why it became the number one e-commerce site in the country.

Sales Season

This platform is not only leading to its traffic, but also for its vigorous effort in sales and discounts each year. Every year, Lazada has successfully launched sales campaigns such as Singles Day (11.11), MYCyberSale, Black Friday and Cyber Monday.

2. Shopee

This e-commerce platform coming only second after Lazada is the closest and fastest competitor to Lazada as Shopee came to Malaysia only two years ago.

Trendy Marketing Strategy

However, with its discernible recent marketing campaign using Blackpink, the renowned K-pop idol group famous for their hit song, Ddu Du Ddu Du, Shopee has quickly caught up with Lazada which is now on its mature year.

High Traffic Ranking

Shopee took second place in traffic ranking with 12.3 million visitors as it also sells a huge range of goods from home appliances to automotive.

Sales Splurge Day

Following the step of Lazada and accepting the challenge to be an efficient marketplace, Shopee has joined the sales splurge day through 11.11 Sales, 12.12 Sales, Shocking Sales and 9.9 Super Shopping Day.

3. 11street

Smart Collaboration

This e-commerce Malaysia platform which came third for the traffic ranking with 6.4 million visitors is an open marketplace operated by Celcom Planet Sdn. Bhd. Ranging from e-vouchers to grocery, this e-commerce platform recently collaborates with Boost and Shell for a more seamless consumer shopping experience.

Sales Campaign

Just like the other two top e-commerce, 11street as well, launch sales campaign and actively participating in the 11.11 Sales, Cyber Sales and Boxing Days. 11street originally came from Korea since 2013 has joint-ventured with Turkey, Indonesia, Malaysia and Thailand.

Points & Credits Reward System

This platform offers points and credits reward system, that works as an incentive for the consumers especially the loyal ones. They also help sellers drive traffic by only showing the seller’s products to those who are highly interested and active online.

4. Lelong

Being a C2C e-commerce platform, Lelong.my is a Malaysia’s homegrown online marketplace selling both goods and services for sellers who want to make auctions but digitally.

E-Auction Pioneer

It is known to be the first e-auction pioneer in Malaysia and sell a wide range of good and services from gadgets to music and media.

Vintage & Cheaper Products Selling

Lelong although less known to some younger generations, is definitely popular among older generations which aims to find something at a lower price, or vintage stuff from old days hence why Lelong is the number one option for an e-auction site.

5. Zalora

Millennials-Friendly

Zalora is an e-retailer platform founded by Rocket Internet based in Singapore that supports the fast fashion scene. Zalora although being famous to some millennials and the young professionals stay at number five of the ranking of traffic for e-commerce.

It was founded in 2012 and had doubled their profit each year until a slowdown in 2015 due to heavy capital injection needed to fuel the Southeast Asia fashion retailer’s expansion.

Up-to-date Fashionwears

Zalora mainly feeds the needs for the fashion of fashion-conscious community both men and women through the act as a hub for online and offline retail fashion brands.

From head to toe apparel to accessories, Zalora has never failed to cater to the needs of the fashion-forward society of Malaysia.

Sales Season

Just like the other e-commerce platforms, it also jumping on the bandwagon during the crucial need for sales such as 11.11, 12.12, Clearance Sales, Black Friday and even Pay Day Sale.

Conclusion

We are very familiar with the term e-commerce and everyone is aware that the e-commerce Malaysia scene has developed with the assistance of developed payment system; from money transfer to online banking to e-wallet system which helps e-commerce to grow exponentially.

E-commerce has been critical to the Malaysia business scene as the rate of conversion from traffic to ROI to net sales has increased each year, making Malaysia among the most responsive Southeast Asia country reacting to the effort of mass e-commerce platforms present in the Asian markets.

You can also consider these other online opportunities to make money online.