RM370 million GMV targeted for #MYCYBERSALE 2018

The fifth #MYCYBERSALE 2018 online sale event, which will offer shoppers in Malaysia various deals and promotions, will be back from September 3 to 7 this year.

The National ICT Association of Malaysia (PIKOM) will continue to drive this national initiative to reach a targeted RM370 million (US$91 million) in gross merchandise value (GMV), with RM50 million as export revenue. GMV is defined as the total revenue generated during the five-day sales period before taking into account discounts.

The event is said to be a good platform for merchants in Malaysia to be part of the e-commerce ecosystem and contribute to the domestic and export e-commerce revenue.

In 2017, #MYCYBERSALE attracted 1,007 merchants which generated RM311 million in GMV of which half of the merchants brought in RM39 million in export revenue derived from shoppers in 26 countries, according to PIKOM.

This year, the organiser is targeting 1,200 merchants, with at least 50% of them expected to be exporters. The event currently has more than 600 registered merchants since the soft launch on July 10.

“In line with its theme -- Driving growth through omni-channel commerce -- #MYCYBERSALE 2018 aims to encourage micro-enterprises to adopt an omni-channel approach for their businesses to reduce dependency on social media private messaging sales,” said PIKOM chairman Ganesh Kumar Bangah.

The e-commerce industry in Malaysia is expected to grow by 12.1%, from RM74.6 billion in 2016 to an estimated RM83.6 billion in 2017, he added. #MYCYBERSALE registered a GMV of RM67 million in 2014; RM117.7 million in 2015 and RM211 million in 2016.

“#MYCYBERSALE offers a great platform for microenterprises to start building their brand and customer base in Malaysia and beyond,” said Malaysia Digital Economy Corporation (MDEC) chief operating officer Ng Wan Peng. “It is important that we help local companies to scale up. Smaller-range companies can leverage this excellent growth opportunity by adopting e-commerce in their operations.”

#MYCYBERSALE 2018 has to date signed on pinnacle partners Commerce.Asia, Mastercard and Fusionex; premier partners SAP Malaysia, Shippop, CapFiX, y5zone Malaysia, Mobiversa and Shopback; gold partner iPay88 and silver partners SF Express, eGHL, LWE and World First. These partners will play an integral role to enable merchants get onboard the e-commerce platform with ease, PIKOM added.

Merchants can register to be a part of #MYCYBERSALE 2018 at www.mycybersale.my for free. The deadline is July 31, 2018.

By Muneerah Bee