Beyond Brick & Mortar: How E-commerce is Making Malaysian Businesses Shine
Beyond Brick & Mortar: How E-commerce is Making Malaysian Businesses Shine
Within the Malaysian economy, a network of micro, small, and medium-sized enterprises (MSMEs) plays a crucial role. These businesses form the nation's backbone, accounting for a remarkable 97.4% of all enterprises and contributing a significant 38% to the country's GDP. MSMEs drive innovation, preserve cultural heritage, and foster local prosperity through job creation and community engagement. However, their path to sustainable growth faces challenges such as rising competition and resource constraints, even more so for businesses outside major urban centres.
Fortunately, digitalisation offers a promising solution. E-commerce, a cornerstone of digitalisation, presents a powerful platform for MSMEs to overcome these obstacles. It can help businesses reduce overhead costs, transcend geographical limitations, and unlock new customer bases. Moreover, e-commerce platforms often offer tools and features that enhance customer engagement and foster brand loyalty, creating a more interactive and personalised shopping experience. Ultimately, by embracing e-commerce, MSMEs can become more competitive in the marketplace, paving the way for long-term success.
Supercharging Growth Through Meaningful Real-Time Connections
Starting as a small business in Selangor and Kedah, ZEKE Store had big dreams of showcasing their clothing's craftsmanship and distinctive designs to Malaysians nationwide. However, like many MSMEs, they had limited resources and faced fierce competition. Choosing the right platform was crucial, and for ZEKE Store, Shopee was a game-changer.
ZEKE Store's success is partly due to its strategic mastery of Shopee Live. This innovative livestreaming feature transformed the retailer’s customer engagement strategy. No longer confined to static product images, ZEKE Store now uses Shopee Live to showcase the quality, texture, and unique style of its clothing in real time. This dynamic approach deepens connections with viewers, enabling interaction with clothes and questions, fostering trust and nurturing lasting customer relationships.
"We're not just selling products—we're forging meaningful connections with our customers through Shopee Live," shared Lai Ya Long, Founder of ZEKE Store. Overcoming typical barriers to purchase, such as wanting to test or feel the product before purchasing, Shopee helped achieve remarkable results for the homegrown seller, resulting in a 65% increase in overall store performance. During the 6.6 campaign in 2024, their success soared further, with an impressive 85% growth compared to the same period a year earlier.
For ZEKE Store, Shopee has become more than just an e-commerce platform; it's a key element of their success. Through the strategic use of Shopee Live, they've strengthened customer bonds, showcased their brand, and brought Mr Lai's vision to life.
A New Chapter: Leveraging E-commerce to Reach Bookworms Nationwide
In 2020, Mr Yong Kon Teck, formerly of a beloved local bookstore, ventured into the world of e-commerce fueled by his deep love for books and a vision to reshape the book-selling landscape in Malaysia. Leaving behind the traditional physical bookstore model, Mr Yong founded Funbook to offer readers a vast array of books nationwide.
However, transitioning to the digital world was no easy feat. Mr Yong, a seasoned bookseller but an e-commerce novice, faced limited online visibility and a lack of digital marketing expertise. This translated to sluggish sales—a common concern for any new business venture. Determined to succeed, Mr Yong sought a strategic partner.
Recognising the need for a different approach, Mr Yong decided to work with Shopee, utilising its robust seller features to propel growth. Shopee Ads proved to be a critical factor in Funbook's success. Through targeted campaigns and strategic ad placement, Shopee Ads significantly increased Funbook's visibility on the platform. Book enthusiasts searching for their next literary fix could now easily discover Funbook's extensive and curated selection. Within a year, Funbook experienced a remarkable 2,789.52% increase in sales, marking a pivotal turning point in their journey. Today, Funbook continues to flourish, offering an even more comprehensive selection of books reaching readers across Malaysia with the help of Shopee’s extensive network of logistics partners.
"Shopee has been absolutely transformative for our business. Thanks to Shopee Ads, we've gained unprecedented visibility and reach, allowing us to grow exponentially and connect with readers across Malaysia,” remarked Mr Yong.
Funbook's journey isn't unique. Shopee helps SMEs thrive in the digital age by offering tools, resources, and support. From seller features to marketing tools like Shopee Ads and integrated logistics support, the platform provides solutions for businesses like Funbook to build an online presence, reach customers, and grow sustainably.
Robust Arsenal of Tools for MSMEs to Reach Greater Heights
For Shopee, the leading e-commerce marketplace in Southeast Asia and Taiwan, prioritising the development of strategies and solutions to help local Malaysian businesses overcome challenges has consistently been a core focus.
Continuously innovating, Shopee recently launched Shopee Video, which provides customers with entertaining and insightful short videos from content creators. Similar to Shopee Live, this new feature helps sellers generate positive word-of-mouth reviews and recommendations for their products, leading to greater awareness and reach for their brands and products.
"At Shopee, we're all about empowering local businesses like Funbook and ZEKE Store," says Ming Kit Tan, Head of Marketing and Business Intelligence at Shopee Malaysia. "We're not just a platform, we're a partner. We provide them with tools such as Shopee Ads, Shopee Live, integrated logistics, and features that help them elevate customer service, like fuss-free returns and delivery guarantees. We handle the tech so they can focus on what they do best, whether curating the perfect book selection like Funbook or showcasing unique fashion finds like ZEKE Store."
Customer Focus: Happy Shoppers, Thriving Businesses
For many MSMEs, fostering strong customer relationships is vital to success. Shopee understands this, and its recent launch of customer-centric programmes and features isn't just about keeping shoppers happy—it's also driving growth for sellers.
Since March 2024, Shopee has expanded its Change of Mind policy, offering hassle-free returns on a wider range of products to give customers peace of mind when exploring new offerings while ensuring sellers retain satisfied customers with quick and easy returns. Additionally, Shopee’s best-in-class Return and Refund process can be completed within two days for payments via ShopeePay —significantly faster than the industry average of seven days.
Fast and reliable deliveries are another priority as part of Shopee’s commitment to excellent service quality, with programmes like Instant Delivery, Next Day Delivery, and the On-Time Guarantee. The On-Time Guarantee even offers customers an RM5 voucher if an order arrives late, incentivising prompt deliveries and building trust with buyers—a crucial factor for any seller's success.
In partnership with its network of third-party logistics partners (3PLs), Shopee is also rolling out platform-wide free shipping from July 2024 onwards to further add value to customers and provide them with the best shopping experience.
“Customers are the lifeblood for both MSMEs and Shopee. Delivering a high level of service is Shopee’s top priority, which will undoubtedly also benefit the sellers on our platform by providing greater customer satisfaction, loyalty, and repeat purchases,” said Tan.
By prioritising customer satisfaction through these initiatives, Shopee enables Malaysian MSMEs to reach a broader customer base and achieve sustainable growth. It's a win-win situation for both sellers and shoppers – a satisfied customer becomes a loyal one, and Shopee's dedication to a smooth shopping experience nurtures precisely that.
Post a Comment