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 Business

Rapid e-commerce growth spurs online shopping charge

21st December, 2017

KUALA LUMPUR: The rapid growth of the e-commerce market in Malaysia in 2017 spurred the expansion of the online shopping sphere.

It also encouraged local businesses to embrace omni-channel retailing said 11street – Malaysia’s second largest online marketplace.

It predicts four key trends that will up the ante for e-commerce industry in the country: rise of diversified payment methods; evolvement of the check-out process; greater transparency on product delivery; and dynamism of the e-commerce market for brand players.

Chief Executive Officer of 11street, Hoseok Kim said: “The e-commerce industry in Malaysia has done well, in which we see a penetration rate of 2.5%, and given the broadened acceptance of e-commerce, the time has come for e-marketplaces to make online shopping a better and more seamless experience for consumers.

“Once the right infrastructures are in place, we expect to see Malaysia accelerating its e-commerce penetration, with a rate of 4% to 5% in 2018 – a figure that doubles that in 2015,” Kim added.

   
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