Shopee Malaysia kickstarted the New Year by launching its three-part 2023 consumer trends series called ‘Adapting to Malaysia’s Digital Consumers in 2023’.
The first part of the series that focuses on sellers found that 63 percent of Malaysian sellers feel excited and positive about e-commerce opportunities in 2023. In particular, sellers from the health and beauty (71 percent), toys, kids, and babies (69 percent), and fashion and lifestyle (66 percent) categories are the most optimistic, stating that they are on the right track to capture the opportunities in 2023.
The survey covering over 1,000 Malaysian marketplace sellers in December 2022 found that sellers are excited to take advantage of three main e-commerce trends in staying digitally resilient and relevant on e-commerce: increased and savvier use of digital services; growing adoption of digital services among consumers living outside big cities; and the rise of younger, more purposeful buyers.
1. Increased and savvier use of digital services
When asked what milestones they would like to achieve for 2023, given the digital savviness of buyers who spend more time online, 8 out of 10 sellers agreed that they wanted to increase product discovery, consideration and purchase online.
2. Growing adoption of digital services among consumers living outside big cities
With technology giving better access to affordable and convenient digital products and services outside big cities, 7 out of 10 sellers surveyed are interested in reaching consumers who live in Borneo in 2023. Among the sellers most keen to tap new audiences in Borneo, by category, are: FMCG (81 percent), sports, entertainment and recreation (75 percent), and groceries and pets (74 percent).
3. The rise of younger, more purposeful buyers
In response to the rise of younger, more purposeful buyers entering the marketplace in 2023, 50 percent of sellers surveyed are interested in catering to value-based shoppers who support local Malaysian made goods via the Shop Malaysia circle, and green sellers via the ShopeeGivesBack microsite. They are also excited about the inclusion of more educational content in influencers’ live streams that demonstrate the importance of supporting these causes.
As part of their 2023 New Year resolutions, 95 percent of sellers want to upskill themselves with courses in sales, marketing, and operations.