2020 VS 2021: New Growth Industries and Trends In Malaysia after COVID-19 - BrandIQ

aCommerce, Southeast Asia’s leading End-to-End E-commerce Platform and Solutions provider, unveiled the top 100 fastest growing e-commerce categories, and trends after the COVID-19 outbreak in Malaysia.

The Malaysian e-commerce market has had a steady rise over the past few years, the closure of stores and social distancing measures led consumers to online shopping, which boosted the e-commerce market growth.

The e-commerce market in Malaysia, with total revenue of approximately $4 billion in 2020, placing it ahead of countries such as Portugal, grew by an astonishing 36% during the pandemic (according to ecommerceDB). The most clicked e-commerce platform is Shopee, followed by Lazada and PG Mall. The growth was attributed to both the pandemic and the rising smartphone penetration, increasing consumers’ willingness to spend more online, and the Malaysian government is increasingly improving the country’s infrastructure to ease new merchants entering this exciting market.

These top e-commerce growing categories shared here in the BrandIQ Flash Insights report show that similarly to other countries in the region, the lockdown has created a massive demand for online shopping using Digital Vouchers (+285%) and Lazada Gift Card (+263%), the category saw a rise as brands are adjusting their strategies to attract new customers to their online marketplace by offering steep discounts, encouraging customers to engage with their brands. An additional significant increase was in Chocolate, Snacks, and Sweets (+532%) purchases, as time spent at home increases, consumers are enjoying various confectionery with their home activities as Malaysians were snacking and stocking up, instead of going to the supermarket due to the strict lockdowns.

The Insights Report also shows that home cooking has now become a more common routine activity among Malaysians. Kitchen Supplies (+1,629%), Food Staples & Cooking Essentials (+404%), and Dinnerware (+408%) showed a huge surge in sales. Moreover, The coronavirus has increased the demand for Food Supplements (+117%), used by consumers to boost their immune systems as many Malaysians are switching to a healthier lifestyle. Lastly, Computer Components (+157%) and Headphones & Headsets (+70%) saw strong growth resulting from strict work-from-home measures and remote learning.

About BrandIQ and aCommerce:

“Since granular data and analytics are vital for companies, having real-time data on your competitors’ sales, promotions, and orders, ” said Paul Srivorakul, Group CEO of aCommerce. “Providing end-to-end analytics to companies is critical for refining their e-commerce operation and automating operations that save money and increase sales. Whenever a specific product or brand begins to sell well, for example, our software automatically notifies marketing to increase advertising spend, then prompts customer service to increase assistance, then requests the supplier to place a greater order and notifies logistics to prepare for an increase in orders.”, he added.

To learn more about BrandIQ visit BrandIQ.asia