PIKOM, the National Tech Association of Malaysia, revealed many interesting new developments and partners in the 6th #MYCBERSALE, to be held for one week from 27 September until 3 October, 2019. This year, PIKOM embarks on taking this national initiative beyond Malaysian borders, encouraging even more merchants within the ASEAN region to participate in cross border e-commerce.
The event, held at the Kuala Lumpur TM Convention Centre, was launched by YBhg Dato’ Suriani Dato’ Ahmad, Secretary General from the Ministry of Communications and Multimedia Malaysia, and attended by over 300 guests participating as potential sponsors and merchants.
Early this year, PIKOM and the Malaysia Digital Economy Corporation (MDEC) undertook a detailed exercise to assess how it can improve various business avenues and growth channels, whilst still continuing to grow the country’s e-commerce industry.
Explained Ganesh Kumar Bangah, PIKOM’s chairman, “We are adopting the strategy to organize Offline to Online (O2O) events, mini #MYCYBERSALE online events prior to the main event, together with a major merchant engagement conference; also, to leverage with community partners in the likes of Boost, Touch ’n Go and a few more. From the association’s side, we shall organise even more merchant engagement programmes via the PIKOM-eCommerce fairs, held in major cities within the country.
“In recent years, we noted increasing interest from neighboring countries to have their merchants included in this cybersale exercise. Countries like Taiwan, Thailand, Indonesia and Singapore have expressed keen interest. With this, PIKOM gave birth to the idea of a Regional Cybersale, calling it #MYCYBERSALE ASIA, starting this year.
“#MYCYBERSALE Asia enters regional space with Taiwan joining the event as the first Regional Partner as of now and we are looking forward a few more countries to follow suit. This will definitely boost cross border e-commerce between these countries and possibly other ASEAN countries, too. Taiwan will run the #MYCYBERSALE ASIA event concurrently with Malaysia between 27 September 2019 to 3 October 2019,” he added.
This year marks another historic milestone wherein PIKOM welcomes its Title Partner PayNet, operator of FPX. FPX is set to launch a Lucky Draw in conjunction with FPX #MYCYBERSALE ASIA from 17 July 2019 – 3 October 2019, where bank customers who pay for their e-Commerce purchases with FPX will stand a chance of winning attractive prizes, including two Proton X70 cars and RM50,000 in cash vouchers. FPX #MYCYBERSALE ASIA will be this year’s Biggest Online Sales event in terms of merchant participation.
For PIKOM, this is a very significant development as the association seeks to accelerate e-Commerce enablers in the country. The widespread adoption of FPX Online Banking payments amongst e-Commerce merchants is beneficial for both merchants and consumers. For merchants, FPX Online Banking is an efficient, cost effective, and secure way to accept payments. Merchants need only connect to one acquire to collect payments from Internet Banking customers of 29 banks in Malaysia. For consumers, FPX Online Banking is a secure and conveniently way of instantly paying for online purchases using their Internet Banking. “We are honoured to collaborate with PIKOM as the Title Partner of FPX #CYBERSALES to bring the benefits of FPX to more merchants and consumers. With FPX, merchants will enjoy cost savings, efficiency improvements and greater convenience. Malaysia has 30.8 million Internet Banking subscribers and 15.6 million mobile banking subscribers, which offers a large base of potential customers to merchants both nationally and regionally” said Mr. Peter Schiesser, Group Chief Executive Officer, Payments Network Malaysia Sdn Bhd (PayNet).
The other partners are Pinnacle eCommerce Platform Partner – Commerce. Asia, Pinnacle Technology Partner- Fusionex, Premier Logistics Partner – CJ Century, Marketing Partner – UNIFI, Gold Partner Malaysia Productivity Council, State Partners the Ministry of Trade and eCommerce Sarawak and Regional Partner – Commerce Development Research Institute, Taiwan.
#MYCYBERSALE is a national initiative which aims to catalyse the growth of the national e-commerce industry, increase the domestic e-commerce revenue and accelerate the adoption of e-commerce amongst online sellers.
“While response towards #MYCYBERSALE is encouraging, we believe the full potential of eCommerce has yet to be harnessed. At present, GDP contribution of our domestic eCommerce sub-sector is still small compared to China or the USA, which have well developed eCommerce eco-systems. However, Malaysia is closing the gap! The future of eCommerce is bright as online retail sales in Malaysia is expected to grow 23% a year until 2021,” said Dato’ Fadzli Shah, Chief Strategy Officer, Malaysia Digital Economy Corporation (MDEC)
“While response towards #MYCYBERSALE is encouraging, there is still much more to do and plenty of room for improvement. At present, contributions from the domestic eCommerce sub-sector to the economy is still small when compared to China or the USA, which have well developed eCommerce eco-systems. However, Malaysia is closing the gap! The future of eCommerce is bright as online retail sales in Malaysia is expected to grow 23% a year until 2021,” said Dato’ Fadzli Shah Anuar, Chief Strategist Officer, Malaysia Digital Economy Malaysia.
This year, #MYCYBERSALE forecasts a total revenue of RM500 Million, with export revenue forecast at RM80 Million. In turn, it hopes to attract around 1,500 registered participants with at least 750 exporting to 40 overseas markets.
“Statistics show that the number of ecommerce shoppers in Malaysia has exceeded 20million this year, It is estimated that ecommerce shoppers will increase their average online spending by 42% in the next five years.”
“There is no other way but to embrace the ecommerce growth, which is expected to be the largest and fastest growing industry in the South East Asia region,” concluded Ganesh.