MDEC’s Go-eCommerce Expo is all about fostering livestreaming e-commerce
By Tan Jee Yee December 7, 2020
- Features talks, discussions covering live-selling methods, logistics, payment solutions
- Serves as a way to connect businesses to livestream and e-commerce service providers
For Song Hock Koon (pic, below), the director of the E-commerce Division with the Malaysia Digital Economy Corporation (MDEC), e-commerce is the logical next step for businesses big and small.
“E-commerce is largely market-driven. Consumers, powered by digital technology like smartphones, are moving and spending most of their time online, so it’s only logical for businesses to engage with consumers, get themselves found, promote and sell their products online,” he says.
With the Covid-19 pandemic forcing consumers to stay home, e-commerce is sometimes the only way to engage with consumers. But consumer engagement is a lot more than just a page on an e-commerce platform or posting product photos on Instagram.
This is why the upcoming Go-eCommerce Expo, set to happen from 8 to 10 December, is going to focus on maximizing engagement. More specifically, it will be delving into livestreaming e-commerce – the process of selling through livestreams.
The MDEC-organised Expo aims to promote and encourage the adoption of livestreaming e-commerce as a new sales channel for Malaysian businesses. Beyond that, it will also aim to promote multi-channel selling as a means to capture a wider audience and drive higher sales value.
Song describes livestreaming e-commerce as “like television shopping, but upgraded for the 21st century.” It uses real-time broadcasting of content with presenters doing live demonstrations of the products they are promoting. Viewers can immediately purchase the item from an embedded link, as opposed to calling the number on-screen.
Livestreaming to sell products is the fastest-growing Internet strategy in China this year, with 309 million users in June 2020 alone, according to China Netcasting Services Association (CNSA). It’s not exactly as prolific in Southeast Asia yet, but it’s picking up. E-commerce platforms like Lazada and Shopee have already incorporated livestreaming as part of their services.
Livestreaming e-commerce has its charms. As Song notes, it mixes entertainment and shopping in one package – good promoters or Key Opinion Leaders (KOLs) can entertain as well as they can sell. These hosts also provide a much more curated shopping experience, as they cater towards their fan preferences.
It’s a method that works. Taobao Live, for one, claims that its conversion rate for sales across livestreaming was 65% in 2018.
Livestreaming also opens up other means of engagement, from running prize giveaways and lucky draws to adopting flash-sale strategies.
The Go-eCommerce Expo will feature talks and panel discussions focusing on several aspects on livestreaming, from how to live-sell to discussions on logistics, e-fulfilment and payment options. As the expo is also targeted towards micro-sellers and local businesses, there will also be sessions that are conducted in Bahasa Malaysia.
Song says that the talks are provided by MDEC’s partners, which include livestreaming and e-commerce service providers such as Shopline, MODEN KOL, Easy Parcel and MPAY. These sessions not only provide useful knowledge on tapping into livestreaming efficiently, but also connects businesses to these service providers. These are live-sessions, so there will be opportunities for questions.
For more information on the Go-eCommerce Expo, visit www.go-ecommerce.my.
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