Seven percent of the female sellers tap into male-dominated categories including Home Electronics and Mobile, IT & Camera.
E-commerce penetration rate expected to reach 4% to 5% of the total retail market in 2018.
The online shopping sphere in Malaysia is thriving and fuelled by the potential for it to mature and grow according to a recent survey conducted by online marketplace 11street.
Malaysians can’t pass up on a good deal and more are directing their online searches to seeking out promotions and deals in the weeks leading up to the Merdeka or national day celebrations.
11street and Central Market, one of Kuala Lumpur’s oldest and most famous centres for Malaysian culture and handicraft products, have signed a memorandum of understanding (MoU) to make the historic venue’s offerings available to customers online.
Although Malaysian consumers are likely to experience a decrease in spending power this year, online marketplace 11street remains bullish with regards to the e-commerce industry’s prospects and its own business opportunities in the country.
There are gaps in both the buyer and seller space in Malaysia’s burgeoning e-commerce market that need to be addressed, according to 11street Malaysia chief executive officer Hoseok Kim.
Malaysia’s newest e-shopping mall 11street.my, which was first announced in February, has gone live.
Ahead of its April launch, South Korean online marketplace 11street has unveiled its ‘Seller Zone,’ which it claimed is the first education centre and support facility in Malaysia for e-commerce business coaching, training and development programmes.
South Korean-headquartered online marketplace 11street is set to launch its Malaysian marketplace in April, and said it will be investing US$10 million in its operations here this year.