We all hear stories of plummeting sales in malls and retail stores, and we conveniently attribute it to the poor economy. However, over a billion Ringgit was spent online last year.
In 2015, internet retailing experienced a phenomenal growth of 15% in Malaysia, with a sales value of over RM 1.8 Billion as consumers chose to purchase online due to convenience, leaving physical retails stores almost empty and gasping for air with plummeting sales.
As consumers are inundated with attractive offers anytime and anywhere they go on multiple devices, the temptation to purchase with the click of the button is simply too irresistible. With the advent of the internet, flash sale prices and season sales are known immediately and it triggers an instant boost of sales, compared to the brick and mortar businesses which tend to rely on banners and local media to drive customers to their shops.
Moving forward, online retail sales is forecasted to grow at an impressive compound annual growth rate of 11% (after adjusting for inflation). (Source: Euromonitor)
The internet retailing market is a tremendously profitable market that will continue to see unsurpassed growth as more and more consumers discover the convenience of ordering online and shopping from anywhere and at anytime.
From the perspective of businesses, the trend of the moment is focused on digital marketing. Advantages for companies when entering the internet retail market are numerous, a few of which are as follows:
Many companies want to enter the online retailing market because they see huge opportunities to grow their business. However, most do not succeed because of the fierce competition and the fact that most digital platforms are not working perfectly. (For your sake, let these mistakes not be made!) There are many factors to consider when creating an online platform which are critical for its success, including the format, visual aspect, payment options (make it easy for customers to pay!), and secure transactions.
Nevertheless, with many years of online marketing success, a wealth of tested and proven strategies and a track record of effective marketing solutions, Shock Media Studio is the right partner to help you create an awesome digital marketing strategy to sell your products or services.
Leverage on our expertise to launch your business online quickly and grab a piece of the billion dollar online retail market. Time and tide waits for no man, so call us now at +603-58827008 or leave us a message below.
We’ll take you from optimizing the design and architecture of your ecommerce website and your crucial payment gateway, all the way through to targeting specific audience and driving customers to your website using cutting edge strategies on social media, search engine marketing, and more, to make your business unforgettable with seamless customer experience.