The Future of Shopping

We look for convenience and speed when we needed for something to buy. With the rise of population growth in the city, driving to malls is not the most convenient way. Hassle of driving through busy traffic to get to the mall has increased the time and cost needed for solving our shopping needs.

While predominantly most of us still prefer to buy groceries at wet market and hypermarket, there are a great number of people are looking for a ‘less hassle’ way, which is online shopping. Online shopping has solved the need to mobilize ourselves with the help of technology.

Over the time, technology has evolved from providing the basic necessities on conducting a transaction to become a full pledged marketplace where people can now buy, sell and negotiate without having the need to be present.

Shoppers are looking for a platform that can provide them with the advantage of price and product varieties, timely delivery, an option to choose the method of payment, products warranty and also allowing them to return and receive refunds if at any case they are not satisfied with their order.

Shoppers in Malaysia, like those around the world, are demonstrating a continually increasing desire for faster service at a location of their choice.

“Over 60% of shoppers in Malaysia have a willingness to pay for same-day delivery of online orders and there are growing awareness and demand for delivery within the hour. The same trends are occurring in other countries across Asia.”

Online platforms face a challenge competing to serve these shoppers on a complicated set of preferences for payment and order fulfilment across the country. In Malaysia, payment with online banking and cash remain as most preferred option, complicating the effort to fulfil orders for delivery, with the adoption of other payment method lagging behind.

Currently, there are numbers of e-commerce startup from small to large are growing catering to a different niche of the market. The huge potential of online shopping has also opened up a new arena for innovation.

There is a strong need for innovation of local products in able to allow them competing with the internationally sourced product.Products selling online are mostly sourced from the bigger market such as China, South Korea, the United States and Europe.

“Small enterprise and rural entrepreneur need to be empowered with knowledge and hand skill in able to allow them to make a better quality product.”

Locally made products such as scarves, batik clothing, artisan and handicraft, herbs and food item have a huge appeal in the international market. Small enterprise and rural entrepreneur need to be empowered with knowledge and hand skill in able to allow them to make a better quality product.

Products that has huge potential and break out into international and export market will encourage the company to expand operation which in turn contribute to economic growth factor. More jobs will be created allowing creating a better quality life and leading the nation to become a successful model.

“Reportedly, Southeast Asian countries are leading the world on using a smartphone to make an online purchase as compared to global average. In terms of social media interaction and accessing promotional content, Malaysian shoppers are leading the countries in Southeast Asia.”

The rise of online shopping has become ‘buzz word’ where everyone is jumping the bandwagon to get the slice of cake. With a population of around 600 million people in Southeast Asia alone, there is always a room for growth and a new market to be created.

The increasing adoption by shoppers in Southeast Asia in online shopping behaviours is exciting. Malaysian shoppers are relatively new to the online shopping market but are clearly on the leading edge globally in the areas of mobile and social shopping. This expands the universe of possibilities for retailers who want to engage individually with their shopper.

Without having to move around, online shopping has also provided shoppers with a peace of mind on choosing what to buy. It has also provided the same experience as shopping at a physical retail store with the wide brand range and products offering.

– by Ahmad Qaiyum, Marketing Manager MyBazar Malaysia