On 1st October, Mabel Loh, General Manager of cacaFly Malaysia, was invited to Taiwan to attend the “New Retail OMO Practical Forum” organized by CYBERBIZ at the HNBK International Convention Center. The forum featured nine speakers and attracted approximately 160 participants, covering topics such as international perspectives, retail trends, and market opportunities. Discussions also included RMN (Retail Media Network), AI, and data monetization. Notably, directors from Meta and YouTube were invited to share insights on future trends in audiovisual content. As the closing speaker, Mabel Loh explored new opportunities for entering the Southeast Asian market, mainly focusing on the development potential in Malaysia as a high-consumption market.
Looking to Venture into Cross-Border E-commerce? Malaysia is the Top Choice!
With the rapid advancement of digitalization, Mabel Loh began by providing an overview of Southeast Asia’s economic landscape, including its linguistic and ethnic diversity. Compared to countries such as Thailand, Vietnam, the Philippines, Indonesia, and Singapore, Malaysia’s GDP and purchasing power parity (PPP) are undoubtedly competitive within market trends. However, the COVID-19 pandemic in recent years has not only impacted the global economy but also altered consumer behavior and market dynamics.
Impact of the Pandemic
The outbreak of COVID-19 severely affected Malaysia’s retail industry, leading to significant declines in retail sales and physical store numbers. Nevertheless, as the pandemic gradually eases, Malaysia’s retail sector shows strong recovery potential. Data indicates that Malaysia’s retail market is experiencing an annual growth rate of 5.94%. This growth is primarily attributed to a rebound in private consumption and business investments, positioning Malaysia as a critical growth area among ASEAN countries. Furthermore, government policies have created a favorable environment for local businesses to establish websites. The pandemic has accelerated consumers’ shift from traditional brick-and-mortar stores to online shopping, presenting new opportunities and challenges for the Malaysian market.
The Rise of D2C
In response to this trend, Mabel Loh noted: “The retail trend in Malaysia is rapidly shifting towards a D2C (Direct-to-Consumer) model. This not only integrates online and offline shopping experiences but also creates higher profit margins.” According to surveys, 49% of Malaysian consumers still prefer O2O (Online-to-Offline) purchasing methods. By leveraging promotional discounts to attract members, brands can establish direct connections with consumers, gather first-hand consumer data, and offer personalized shopping experiences.
Source: 数位时代x CYBERBIZ 2024新零售OMO实战论坛
Key to Unlocking Business Opportunities in Malaysia
Malaysia’s e-commerce market is rapidly evolving with increasing consumer demand for convenient shopping experiences. Surveys reveal that 55% of Malaysian consumers anticipate more immersive and convenient shopping experiences; 49% prefer a combination of online and offline shopping, while 55% indicated they would abandon their purchases if their preferred payment methods were unavailable. Therefore, when creating an OMO (Online-Merge-Offline) shopping experience, businesses must not only focus on distribution channels but also integrate promotional discounts, build trust through social media, and implement localized marketing strategies to capture consumer attention.
Additionally, utilizing WhatsApp for customer engagement and data accumulation has become a crucial channel for enhancing customer loyalty. With Malaysia’s e-commerce market expected to grow consistently in the following years, Taiwanese brands should seize this opportunity by employing data-driven strategies to create seamless online-offline consumer experiences while enhancing brand visibility and sales through localized marketing efforts. These trends highlight the immense potential of the Southeast Asian market as a significant option for Taiwanese brands looking to expand cross-border.
Source: 数位时代x CYBERBIZ 2024新零售OMO实战论坛
About CYBERBIZ
Founded in 2014, CYBERBIZ specializes in comprehensive e-commerce solutions, including brand websites, warehousing, and smart POS systems. It is a system provider that integrates the three essential functions retailers require. It has assisted more than 35,000 brands from different industries in Taiwan in their digital transformation. In 2021, CYBERBIZ launched its cross-border e-commerce service, actively coaching and assisting Taiwan’s brands to enter the international arena, with locations in North America, Japan, and Southeast Asia, and providing a fully integrated platform and complete ecosystem for gold logistics and other services, and successfully leading merchants to practice cross-border commerce, and will enter and land in Malaysia in 2024.
About cacaFly Malaysia
Founded in 2009 and headquartered in Taiwan, cacaFly entered the Malaysian market in 2016. cacaFly is a leading brand in the digital marketing space in Taiwan and the first Facebook advertising agency in Taiwan. As a pioneer in the digital space and collaboration with partners such as Meta, Google, Amazon, TikTok, HuaWei, Criteo, and Infobip, cacaFly offers a diverse range of services, including digital marketing consulting, media buying, content marketing, and influencer marketing. With over 400 certified professionals in Asia, cacaFly Malaysia has helped more than 1,000 brands double their online sales revenue.
Struggling with Brand Development and Marketing?
Reach out to us, and let the professional consultancy team at cacaFly to collaborate with you in creating a brighter future!
Email: [email protected]
Mobile: 017-7486433
cacaFly Malaysia is always at the forefront of digital marketing and committed to being the most reliable partner of our clients, priding ourselves in offering premium services with utmost enthusiasm and professionalism. Specializing in serving brand and performance oriented clients, our one-stop digital marketing services ranges from early research, mid-term advertising, MarTech application and creative production to data analysis and strategy optimization, cacaFly Malaysia has assisted countless brands and online merchant improve their performance and expand their businesses. If you need help with digital marketing strategy, ad placements etc., contact us now! PM us on cacaFly Malaysia Facebook or email us at [email protected]
