ShopBack shared that it continues to experience hyper growth in Malaysia, with data indicating growth of more than 200 per cent in sales (enabled through ShopBack Malaysia) last year compared to 2018.
Carrying the momentum from 2019, e-commerce sales enabled through ShopBack Malaysia’s platform in 2020 has surpassed benchmarks based on the same period last year. Contributing to this surge is the growing popularity of smarter online shopping among Malaysians.
“Before the concept of cashback was popularised in online shopping, it only existed within the credit cards or offline transactions space. ShopBack launched the online rewards model in the form of cashback five years ago, and is currently serving over 2.5 million users. In 2019, we experienced a remarkable increase of 150 per cent in users and over 200 per cent in sales compared to 2018. This growth was boosted by the introduction of new verticals such as Online Survey and eWallet, fuelled by our continued fruitful collaborations with our merchants,” said Eddy Han (picture), Country General Manager of ShopBack Malaysia.
He shares that ShopBack now has over 500 partner merchants in Malaysia. Popular categories among Malaysians are Online Marketplaces (Shopee, Lazada, Taobao), Fashion, Health and Beauty (ZALORA, Hermo, FashionValet) and Travel (Agoda, Booking.com, and KLOOK).
Aiming to help users save money on top of discounts and incentives provided by the online merchants, ShopBack enables users to earn cashback each time they perform online shopping through its website or the app. For every successful and validated transaction, the cashback earned can be withdrawn to users’ bank account of choice.
“Malaysians love cashback savings. To date, our users have earned more than RM60 million worth of cashback. The highest accumulated cashback earnings by a single user currently stands RM69,145.64.
Through our insights, we discovered that users love to shop between 2pm to 3pm during normal days. However, during the online mega sales, many rushed to check out at midnight (12pm to 1pm) to secure the best discounts and purchase limited promotional items.
The top online mega sales in Malaysia is 11.11, followed by 12.12 and 9.9 sales. Last year, 11.11 online sales have seen an 80% increase in sales compared to the same day in 2018,” he said.
According to ShopBack data, in the last five years, more than 60% of the transactions enabled through its platform were for items sold under Online Marketplaces. The average order value (AOV) for Online Marketplaces purchases is approximately RM200, while users spent 3 times more for Travel bookings which is at an average of RM600 (highest AOV category).
“Besides selling products like gadgets and home appliances, Online Marketplaces has now evolved and diversified its offerings to allow users to reload mobile credits, pay their bills, and even grab discount vouchers. It has brought convenience to users and more reasons to transact via Online Marketplaces,” Eddy shared.
ShopBack Malaysia is projecting another bullish year in 2020, and confident of maintaining the same growth rate as 2019.
“In line with our aspiration of being the first stop of online shopping, we are constantly monitoring market trends and ensuring our product, services and offers stay relevant to our users.
Our web and app users can expect a couple of product enhancement this year. Today, we are happy to introduce an upgraded browser extension for our desktop users in conjunction with our 5th Anniversary.”
The ShopBack Button is a browser extension capable of detecting websites that offer cashback through ShopBack when users search for an item. It allows users to activate cashback at the merchant’s site without going through the ShopBack Malaysia website.
The upgraded version now comes with a coupon applier function, where it will automatically scout for all available coupon codes online and apply the code with most discounts for users during checkout.
Gearing up to ShopBack Malaysia’s 5th Anniversary, Eddy also revealed a series of offers such as RM50,000 Shopping Spree Giveaway, up to 100% epic cashback vouchers, and a bonus deal exclusive to the ShopBack Button. Highlights of the upsized cashback offers include:
- Up to 15% cashback from Dahmakan, from now until 13 March
- Up to 18% cashback from Nike, from 20 – 24 February
- Up to 12% cashback from ZALORA, from 21 – 24 February
- Up to 10.5% cashback from Agoda, from 21 February 1AM – 23 February, 1AM
- Up to 9% cashback from Trip.com, from 21 – 25 February
- And many more
“We would like to thank our users for their continuous support, and as a token of our gratitude, we are giving them up to 100% cashback and an all-expenses paid shopping spree. Five (5) lucky winners will go on a RM10,000 shopping spree experience on us.
We are also excited to reveal our latest merchants, Dahmakan, OGAWA and sports brand Maxx Sports, to be part of our anniversary celebration. Users can look forward to shop from Uniqlo and Apple Online as we are in the midst of onboarding them to the ShopBack platform,” Eddy added.
Besides Malaysia, ShopBack is also championing The Smarter Way to shop in Singapore, Indonesia, the Philippines, Thailand, Taiwan, and Australia. The company will launch in Vietnam next month. For more information, download the ShopBack app or visit ShopBack Malaysia 5th Anniversary site at www.shopback.my/anniversary.