We live in a time where half the population are digital buyers, which is why e-commerce is an important stepping block to ‘future proof’ existing businesses while opening up market access. However, the eCommerce ecosystem development in Malaysia is still at an early stage.
According to A.T. Kearney findings under the National E-Commerce Strategic Roadmap, Malaysia is at a turning point of e-commerce growth which must be sped up through government involvement. Issues that need to be resolved are lack of offerings, poor fulfilment experience, low adoption and awareness and lack of supporting ecosystem.
For Malaysia to move beyond the early stage, it needs a strong support and focused government intervention to drive it forward to the growth stage. Through efforts such as #MYCYBERSALE which started in 2014, we have achieved RM67 million Gross Merchandise Value (GMV) in 2014 and RM117 million in 2015. This was made possible by close cooperation with our eCommerce ecosystem players, thereby transforming Malaysia’s e-commerce landscape.
In addition to programmes like #MYCYBERSALE, #MYGlobalExport, and eTRADE, the National e-Commerce Strategic Roadmap was developed to double the eCommerce growth rate from 10.8% to 20.8% by the year 2020. This is done through specific government interventions along these Six Strategic Thrusts: