E-commerce Trends Archives – unicommerce.com

E-commerce Trends in Malaysia: Become a Top Seller With The Right Approach!

Team Unicommerce — Sun, 01 Jan 2023 19:43:00 +0000

The growth of e-commerce in Malaysia can be assured due to the fact that over 50% of the entire population of the country relies only on online shopping via mobile devices to search, purchase, review and promote a product.

The biggest reasons behind the massive success of e-commerce in Malaysia consist of the fact that the products sold have a higher margin, user penetration for online shopping is expected to grow up to 53.1%, and the e-commerce revenue of the region is analyzed to reach almost at $11.65 billion in 2023 growing at a CAGR of 14.24% to reach $19.84 billion by 2027.

If we specifically analyze the growth rate of the different modes of e-commerce, then we see that each of the three modes of e-commerce viz a viz Cross Border, B2B and Domestic e-commerce (B2C) have their own strengths and differentiators in the Malaysian e-commerce ecosystem.

E-commerce Growth in Malaysia: Different E-commerce Selling Models

1. Cross Border E-commerce

Starting off with Cross Border e-commerce,the top countries in the list of every Malaysian online shopper include Singapore, Japan, the United States, South Korea, and China, from where a variety of products, right from beauty to electronics, are purchased and paid for via online transactions due to the superior safety and trust of consumers around Malaysia.

Seeing the opportunity, even the government has several business regimes and foreign business strategies in place to support Cross Border e-commerce in Malaysia, making the growth rate of this mode quite high.

2. B2B E-commerce

If we talk about the B2B e-commerce mode in Malaysia, the current numbers show a growth of USD 3.4 billion and indicate that B2B e-commerce is a quickly growing section for SMEs. Over 61% of small to medium businesses and brands trust the growth vertical of the B2B e-commerce mode in Malaysia and continue to adapt to high-functioning technological advancements, right from mobile shopping to online payments, to enhance their products and services.

3. B2C E-commerce

For Domestic e-commerce or B2C e-commerce, Malaysia is turning out to be a profitable market as local businesses, sellers, and retailers are being offered immense opportunities by the government to upscale their business offerings, rising cash flow, etc., to help them grow more and contribute towards Malaysia’s overall GDP.

With the strengthening of local as well as cross-border e-commerce practices in Malaysia, the sellers, the consumers, and the overall country is expected to become the next battleground for brands and businesses to provide the best of services to the shoppers, gain more and more profits and experience a vertical growth curve.

Latest E-commerce Trends in Malaysia

1. Rapidly Growing Online Marketplaces

User penetrations for online shopping are expected to hit 53.1% by 2025, and as the online audience grows, multiple businesses, sellers, and retailers are moving towards either creating their own websites for users to have an uninterrupted shopping experience or integrating on leading marketplaces including Shoppe, Lazada, Zalora, 11Street, etc.

Post understanding the benefits of selling products via these online mediums, especially on marketplaces, brands, and businesses have managed to experience the change in numbers for their sales, profits, and overall growth.

2. Booming Economy

The e-commerce consumer goods market in Malaysia is expected to grow to US$5.9 billion by 2024 due to the huge mobile shopping audience. This indicates the rapidly growing economy of the nation, which plays a key role in deciding the success of e-commerce businesses in the region.

As Malaysia is set to surpass even Singapore in being the fastest growing and immensely successful e-commerce market, the government of the country has put forth several policies and national laws to help brands and businesses to invest in the e-commerce arena and in turn strengthen the economy of the nation even further.

3. Quality Over Price

Malaysian online shoppers prefer to buy high-value goods and services and can easily oversee the pricing put on a product if that suits their needs. This happens because of the relatively younger population of the nation in comparison to other Southeast Asian countries.

Also, as the frequency of customers shopping online is more than 59% a month in the region for major categories of Fashion, Electronics, Home Decor, Groceries, etc., it is quite evident that the market can substantially increase its revenue by simply providing good quality products no matter the rates.

4. Flexibility to Try New Products

The audience of Malaysia is fearless to trying new things, and as the major population comprises youngsters with a social influence bigger than anything in the region, businesses that offer unique, quirky, and fun products will not vary among customers and can expect good profits.

Also, the majority of the Malaysian audience is happy with the services and the variety they can find whenever they shop online, making it even better for niche businesses to go online and sell their products.

5. Last – Mile & Same Day Delivery

Faster and last-mile delivery not only plays a crucial role in increasing the customer experience for any business, but for the Malaysian audience, it is a key factor because most of the population expects their online purchases to be delivered to them as much as in 3 days’ time.

These expectations are a basic requirement for any e-commerce business or seller to speed up their dispatch and shipping processes and ensure that the products even reach the most remote customers.

E-commerce Strategies for Successful Business in Malaysia

New businesses, products, and services are emerging at a very fast pace in Malaysia, and in no time will the country define new avenues of e-commerce growth.

So what should you, as an online seller or brand just starting their e-commerce journey, do to make the most of the growing market?

1. Strengthen Your Social Media Presence

Having a strong social media presence is vital for businesses today, especially with a mobile-first audience. This is because most people access social media platforms through their mobile devices, making them a crucial tool for connecting with customers. Businesses can effectively engage with their audience and build a loyal customer base by having a solid social media presence.

2. Sell on Multiple Leading Marketplaces and D2C Websites

Integrating with the big and multiple selling platforms in the Malaysian e-commerce market can maximize your customer reach, strengthen your brand presence and increase your overall profitability. You can also launch your own D2C website to connect directly with your customers and offer a personalized shopping experience. Using multichannel order management system can optimize your business processes and ensure seamless transactions on multiple selling platforms.

3. Ensure a Wider and More Diverse Product Range

When you are constantly working on building your brand presence and aiming to provide a seamless experience to your customers, one of the ways that could help you is to keep on adding, revising, and maintaining your product listings. This can help you appeal to a broader customer base and increase your sales potential.

Keeping a well-stocked and updated product range can also demonstrate your commitment to providing a high-quality customer experience, which can enhance customer loyalty and satisfaction.

4. Manage Inventory in Real-time to Avoid Stock-outs or Dead Stocks

Inventory management is a critical aspect of any e-commerce business. A proper inventory management software can help you stay organized, ensure that you never run out of stock, and make informed decisions about restocking, promotions, and other aspects of your business.

5. Provide a Seamless Omnichannel Shopping Experience

If you’re an established business looking to grow in the Malaysian e-commerce market then leverage an omnichannel approach. Ominchannel is one of the most effective way of providing streamlined services to your customers, as it ensures that no matter where or from which medium your shoppers are browsing or purchasing items, they always get the same user experience.

6. Track Customer Behaviour and Preferences

By tracking and analyzing your customer’s behavior and preferences, you can better understand their needs and offer tailored suggestions that cater to their specific tastes and requirements. This can be done by rendering automated tracking systems that analyze your customer’s buying patterns, choices, needs, etc.

7. Empower Your Warehouse Operations

To achieve higher sales, increase customer satisfaction and to enhance your serviceability, it is very important to strengthen your warehouse operations. A robust warehouse management system can help you streamline operations and improve order fulfillment, stock keeping, and overall serviceability.

In Conclusion

The road to success in Malaysia is relatively easy to achieve if you are determined and have a clear vision of where you want to be and what kind of services you want to offer. Success in e-commerce requires analyzing market trends and implementing effective strategies.

An e-commerce enablement solution can be an essential tool for businesses looking to grow and succeed in the fast-paced world of online retail. It offers a comprehensive approach to managing all aspects of the supply chain, from inventory management to order fulfillment and warehouse operations.

Don’t wait up; get the right support and start your successful e-commerce journey today!

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Top 5 Direct-to-Consumer (D2C) E-commerce Trends for 2024

Prateek Mahajan — Wed, 16 Feb 2022 02:19:01 +0000

The Direct-to-Consumer (D2C) e-commerce sector in India is experiencing an impressive upswing, which is also reflecting a fundamental shift in brand strategies. But why the sudden interest in D2C? It boils down to one thing, every brand wants greater control over their business operations. By establishing their own webstore, they can not only accelerate sales but also gain a direct strategic insight into customer behavior and practices!

D2C brands like Mamaearth, boAt, The Man Company, and Bewakoof are leading the charge and setting new benchmarks and redefining the D2C landscape in India. As we progress through 2024, the importance of adapting to changing consumer trends cannot be overstated.

As we navigate through 2024, adapting to changing consumer preferences and market trends is very crucial. That is why we have come up with seven key trends that are shaping the landscape of D2C e-commerce this year, offering insights into the strategies driving their growth.

The Top 5 D2C E-commerce Trends to look for in 2024

Make your brand stand out in this ever-evolving D2C e-commerce as we uncover the top 5 trends poised to redefine 2024’s digital landscape.

The Rise of Omnichannel Commerce
Enhancing Checkout Efficiency and Logistics Transparency
Effortless Marketplace-Like Returns Management Experience
Eco-Conscious Initiatives
Optimizing Delivery Efficiency for D2C Success

1. The Rise of Omnichannel Commerce

The trend of blending the online and offline worlds, often referred to as the omnichannel approach, is gaining momentum. In 2024, we can expect to see more brands embracing this strategy to create seamless shopping experiences for their customers.

One notable aspect of this trend is the movement of digital-first brands into the physical retail space. While traditionally brick-and-mortar businesses have expanded their reach online, we’re now witnessing the reverse journey. Brands that have primarily operated in the digital space are recognizing the value of establishing a physical presence to engage with customers in a more tangible way.

Take, for example, the popular home decor brand, Nestasia. Despite its initial success as an e-commerce giant, Nestasia recognized the importance of offering customers a hands-on experience with its products. In response, they opened brick-and-mortar stores where customers can interact with home decor items.

As we move further into 2024, we can expect to see more D2C brands following in the footsteps of Nestasia and exploring opportunities to bridge the gap between online and offline retail. Embracing an omnichannel approach will not only help your brand stand out in a competitive market but also cater to the evolving preferences of modern consumers.

2. Enhancing Checkout Efficiency and Logistics Transparency

In 2024, D2C brands will double down on optimizing the purchasing journey for their customers, emphasizing faster checkout solutions and enhanced logistics tracking to elevate the shopping experience.

With the increasing demand for convenience, brands are investing in technologies that expedite the checkout process while ensuring transparency in order fulfillment. You can also expect to see innovative solutions such as one-click checkout options, automatic payment methods, and integration with digital wallets to minimize friction and speed up transactions.

Moreover, advanced logistics tracking will become a cornerstone of D2C operations, providing customers with real-time visibility into the status of their orders from placement to delivery. This transparency not only instills confidence in the brand but also allows customers to plan and anticipate the arrival of their purchases more effectively.

3. Effortless Marketplace-Like Returns Management Experience

As competition intensifies in the D2C space, brands are increasingly recognizing the importance of providing a seamless and convenient returns experience to enhance customer satisfaction and loyalty. In response to this, D2C brands are adopting marketplace-like returns management solutions to simplify the process for both customers and themselves.

These solutions leverage advanced technology to automate and streamline the returns process, offering features such as single-click returns, automated pickup, and a user-friendly return page. By investing in efficient returns management, brands can not only improve customer satisfaction but also reduce operational costs associated with processing returns.

4. Eco-Conscious Initiatives

In 2024, the importance of sustainability in the D2C space will continue to surge as consumers increasingly demand brands to prioritize eco-conscious practices. From reducing carbon footprints to promoting ethical sourcing, sustainability is not just a trend but a fundamental value embraced by forward-thinking brands.

Looking ahead, we can expect D2C brands to intensify their focus on eco-friendly initiatives, from utilizing recyclable materials in packaging to implementing renewable energy solutions in their operations. By demonstrating a genuine commitment to sustainability, brands can not only attract loyal customers but also drive positive change within the industry and beyond.

5. Optimizing Delivery Efficiency for D2C Success

In D2C e-commerce, last-mile efficiency has emerged as a critical factor in gaining a competitive edge. To stand out in the market, your brand must strive to become the “fastest finger” operator, delivering orders quicker and more efficiently than the competition.

Achieving this requires a strategic approach that combines high-quality inventory management with hyperlocal delivery systems. By establishing a well-planned network of strategically dispersed fulfillment locations, or warehouses, your brand can focus on serving smaller, more concentrated geographies with greater efficiency.

By mastering the last mile and optimizing delivery efficiency, your D2C brand can enhance customer satisfaction, build brand loyalty, and ultimately gain popularity in a crowded marketplace.

Let’s Catch Up on The D2C Trends!

In our exploration of the latest trends in D2C e-commerce for 2024, it’s evident that even seemingly minor adjustments can have a significant impact when applied consistently across a brand’s operations. In today’s competitive market, staying ahead requires more than just keeping pace with trends—it requires proactive adaptation and innovation.

By embracing these trends and implementing them effectively, D2C brands can meet the evolving expectations of consumers and stay competitive in the ever-changing landscape of e-commerce!

5 Latest E-commerce Trends You Need to Follow in 2022

Team Unicommerce — Sun, 30 Jan 2022 07:22:12 +0000

With the changing decade, a lot has changed for the e-commerce market as well. No doubt the industry is a flaming choice for retailers, sellers, businesses to thrive and achieve booming profits due to the easy and extended reach it has all around the globe.

The evolving e-commerce marketplace gives opportunity to a lot of competition in order to stay ahead of others and dominate to have the most customer traffic.

In order for your business to not lose pace with the changing dynamics of the e-commerce marketplace, Unicommerce brings you a curated and tested list of latest eCommerce trends in 2022 that must be followed by small businesses to enterprises alike to attain maximum profitability.

Unicommerce defines E-commerce Trends in 2023:

1. Mobile Shopping and Personalization

This one is actually a two focus trend, as the world is getting smaller and smaller and right at your fingertips, the highest number of customers roll through mobile platforms or apps. It is highly necessary for you to have a good mobile commerce presence in order to get the most out of your business.

Through mobiles, users research, decide, wishlist, order and track all their purchases. The amount of ease it provides to them is the reason behind the whopping increase in mobile buyers from 20% to 78% in the coming years.

Apart from just shopping on their devices, people prefer to get insights or suggestions based on their previous purchases and interests. Based on the reports of your buyers’ choices, interests, purchase history, it is easy and profitable to create personalized suggestions, ads and notifications to get your shoppers to stop by and invest more.

Buyers prefer to support and help in finding out the products they want to purchase. This method of personalized shopping not only gives your customers a feel of importance but also increases their engagement and motivates them towards trying out new products.

2. Artificial Intelligence (AI), Chatbots, and Augmented Reality

In order for you to be interactive with your audience and understand their preferences, you need to have tools that capture the requirements and interests of your buyers.

The role of technology in e-commerce is huge and most e-commerce platforms are now investing in onboarding interactive AI and chatbot options to tap into the necessities of their customers and give them more options to choose from, thus enhancing customer relations. By 2023, Artificial Intelligence will see more than $7 billion of investment by businesses.

AI can consist of automated or analytical marketing ads, offers, and discounts to engage more customers at regular intervals. The online marketplace, for almost all these years until now had the problem of customer skepticism due to their lack of ability to provide ‘trying out products’ or reliable reviews.

AR and VR are the newest, most sought after AI methodologies that are solving this issue first hand. People not only get the option to try out products but also helps them refrain from making the wrong purchase.

Chatbots can cater to the queries of customers in real-time and help them with all their issues including purchases, returns, and complaints.

During the process of conversing with the customers, chatbots can store important points of each conversation and help you create a better service module in the future.

3. Social Media Presence of your Business

Social Media shoppers just like social media trends have been on the rise ever since platforms like Facebook and Instagram have included features like Buy Button or Checkout respectively.

Social media is the most popular and easiest ways to have a tete-a-tete with your customers and sell your products and services faster.

The process of selling your products on social media platforms is referred to as social commerce. The restrictions are limited so you get a plethora of ways to advertise your business and get a list of potential buyers through these social media sites.

Arrange a little teaser, create videos, include giveaways, add influencers or just post the perks of buying your products and expect real-time engagement from people. Major marketplaces publish ads, posts, product categories on social media or link their websites to their social accounts for easy reach and exploration.

Apps such as Shopify, WooCommerce, Magento all allow sellers to have a social media presence.

4. Payment Options and Flexibility Offered

The customer base today expects unified and flexible payment options for all modes of purchases through a retailer giving the omnichannel retailing a big bump. If you offer products that are a little too hard on one’s pocket, you might have issues getting a consistent and growing customer chain.

Providing options such as EMIs, payment breakups into small portions or giving away subscriptions plan, either monthly or yearly can be your solution. Customers will be able to make purchases without having to stress on the payments at once, most of the time which results in them not buying at all.

These methods will be beneficial for your business in the long run as it will maintain a smooth flow of profit and turn your clientele into a permanent one.

5. B2B E-commerce and Management

B2B E-commerce has received more buzz in the past years than the B2C marketplace and is destined to only double the attention as the B2B eCommerce sales are expected to go to a whopping $7 trillion by this year-end. These numbers are only to increase in the coming years, giving proof of the rapid growth being seen in the B2B marketplace.

Most sellers are now opting eCommerce Management Softwares – Warehouse Management System (WMS), Inventory Management Software, Order Management System, etc to manage their services across B2B & B2C marketplaces, carts, own websites, and offline stores.

Businesses today require instant reports and management of all their data including the statistics on sales, returns, collaborations, etc, on the go. Business owners need all that along with the ability to manage company reputation, team engagement and data distribution, all at the same time.

The Unicommerce Mobile App has been designed to be compatible in offering such management ensuring easy processing of multichannel orders to provide business owners and inventory managers with real-time visibility into inventory levels, eliminating room for errors.

Epilogue:

To put a conclusive end to the latest e-commerce trends that 2023 will see, you need to understand what fits best for your business and service module. A business, small to an enterprise can have multiple requirements to follow in order to produce a profitable outcome and for all your issues and solutions, we at Unicommerce are determined to help you find what works best for you.

Read Unicommerce’s Success Story with Top Brand –

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