PIKOM: eCommerce is the future for Malaysia’s SMEs even though most players are foreign-owned
The National Tech Association of Malaysia (PIKOM) has stated that eCommerce is globally and locally the future of the retail industry, furthermore, allowing local brands to be successful too if they incorporate e-Commerce into their retail strategy.
The National Tech Association of Malaysia (PIKOM) has stated that eCommerce is globally and locally the future of the retail industry, furthermore, allowing local brands to be successful too if they incorporate e-Commerce into their retail strategy.
This is why it is crucial in countries like Malaysia to have their local enterprises build their online presence and most Major eCommerce companies in Malaysia are from abroad. These massive foreign-based companies are actually benefiting at the cost of these local businesses, as they are the ones charging a 25% -30% commission and making the most money from these transactions. However, PIKOM states that the government can actually help these local businesses with growing their online presence.
This initiative could be done by providing local brands with the necessary expertise or campaigns to provide information and resources on brand building, online marketing, pricing strategy, etc. Just in 2020, the Malaysian put in RM 300 million into funding for this type of assistance. These initiatives by the government ensure growth in the industry and benefit local companies.
