According to a new survey of shoppers from all 14 Malaysian states, five leading e-commerce trends have emerged for the coming year.
Over 3,500 respondents participated in a nationwide survey held from 15 to 21 November by online marketplace 11street, who expressed overall confidence in the country’s online retail sector for 2017.
More than 80 percent of the respondents said they shop online and 59 percent said they shop online at least once a month or more frequently, said Hoseok Kim, chief executive officer of 11street. Their predictions for 2017 follow:
1. Online shopping is the way forward
11street predicts that existing online shoppers will continue to buy more frequently, and non-online shoppers will start to explore e-commerce in the next 12 months.
This is based on the results of the survey, in which out of the 17 percent of respondents said they had not shopped online before, while 85 percent showed interest in seeking out online shopping within the next year.
2. Payment methods will continue to mushroom
While cash is king, 11street foresees that Malaysian consumers will be open to the idea of exploring non-cash payment methods such as online transfer, and through credit and debit cards, led by 90 percent of the survey respondents who pay cash-on-delivery being willing to try other non-cash payment methods in the next 12 months.
3. Exploration into new product categories
In addition, survey respondents said they will consider home décor and furniture, household and groceries and health and supplements “as top priority categories in 2017.”
As consumers become more familiar with online shopping, 11street expects consumers to shop online more for daily essentials, fresh produce and personal items.
4. Express delivery will gain traction
In general, 90 percent of the survey respondents said that they would be willing to wait up to one week for the delivery of their purchases. Yet while they was asked about express delivery, more than 60 percent of them said that they are willing to pay extra up to RM10 for express delivery. 11street sees this as setting the trend for express delivery moving forward, in which consumers expect faster delivery at more affordable price.
5. It goes beyond price
While consumers are used to cost-saving benefits from online shopping online, sellers must now go the “extra mile to deliver better services” by using analytics such as the processes of managing growing sales volume, rising expectations on logistics, and delivering impeccable customer service.
(Source: MIS Asia)