#MYCYBERSALE 2017 provides boost to Malaysia’s eCommerce Sector
The National ICT Association of Malaysia (PIKOM), in collaboration with the Malaysia Digital Economy Corporation (MDEC), launched the nation’s long awaited #MYCYBERSALE. This online sales festival – being PIKOM’s first – is looking to achieve more than RM300 million in Gross Merchandise Value (GMV) during its five-day run from 9 to 13 October 2017.
Prior to the 2017 edition, this event was organised by MDEC where it registered a GMV of RM67 million in 2014, RM117.7 million in 2015, and RM211 million in 2016.
For its fourth iteration, #MYCYBERSALE 2017 has expanded the scope of participation, signing on more service providers as critical platform partners. These include Pinnacle Partners Commerce.Asia, Lazada and MasterCard. These partners will enable online merchants to offer improved products shipping, introduce secured payment gateways to consumers, and gain access to right technologies they need to market and sell online better.
This move coincides with this year’s theme – ‘Catalyzing Micro Enterprises and Global Trade’ – and directly contributes to the marketplace’s push in raising interest and participation within the electronic retail and services sectors.
Also included among #MYCYBERSALE 2017’s merchants and service partners are Fusionex, iPay88, Skynet,
SF Express, LWE, Involve Asia, Shippop, Exabytes Asia, Akamai, 11street and eGentic (Premier Partners); Shopee, (Gold Partner); Aramex, eGHL and Payoneer (Silver Partners); Maybank, TM, Celcom and Malaysia Airlines.
“We have over 1,000 online merchants participating – far exceeding our target expectations. This is a 66% increase compared to 2016’s 607 merchants. Of the 1,000, 497 are exporters – a 50% jump from the 260 that took part in 2016. This is amazing as our initial target was set at 360. In line with our theme, and for the first time, we promoted micro enterprise participation, a segment that represents 10% of our merchant base this year. Indeed, the overall response has been tremendous, more so considering that this is PIKOM’s first year in driving #MYCYBERSALE,” shared Ganesh Kumar Bangah, PIKOM Deputy Chairman and e-Commerce Malaysia Chair.
#MYCYBERSALE 2017 has also made its way into the Malaysia Book of Records for the most number of online merchants in an online sale event.
Given the strong merchant participation and the backing receiving by sponsors, Ganesh is confident of reaching the set revenue target of RM300 million for #MYCYBERSALE 2017 – a 42% increase from 2016’s RM211 million.
“In addition to this, we have seen strong private sector funding for the first time; with over 40% of the event being funded by leading corporate and retail brands. This augurs well towards our ultimate goal of making #MYCYBERSALE self-sustaining in the near future,” he added.
Aside from bridging the digital gap among local small and medium-sized enterprises (SMEs), this year’s online sales extravagant is focused on cultivating an e-shopping culture to support the eCommerce industry, raise export revenues for the nation, and position Malaysia as a regional hub for online retail.
“#MYCYBERSALE campaign is very much in line with the National eCommerce Strategic Roadmap 2020 as its aims to double the country’s eCommerce growth. eCommerce in Malaysia is projected to contribute at least RM 170 billion to the GDP by 2020. Given the growth potential, it is recognised as one of the key enablers for the country’s economic growth. Last year we expanded the #MYCYBERSALE market access to Singapore, Brunei and Indonesia. We are proud to say, this year, we have expanded to more countries like China, Hong Kong, Vietnam, Thailand, Philippines, India and Sri Lanka. This means our merchants are exposed to more countries.
MDEC is happy to see Malaysia’s largest online sale now progressively transition to a private sector led initiative. I am sure PIKOM will be able to continue grow the eCommerce volume via #MYCYBERSALE,” said Datuk Yasmin Mahmood, CEO, MDEC.
At the stroke of midnight on October 9, consumers can start browsing through the many promotions and retail deals on offer at #MYCYBERSALE 2017. They will certainly be spoilt for choices as there are over 20 retail categories to choose from. These include electronics, fashion, baby and kids, travel, health and beauty, home and living, food and beverage, wellness services, home appliances, and sporting equipment.
Citizens or permanent residents of Malaysia, Singapore, Indonesia and Brunei who spend at least RM50 in a single receipt will get a chance to win lucky draw prizes, such as a four day-three-night trip to Korea, kitchen and home appliances, mobile phones, skincare products, smart watch and much more. Terms and conditions apply.