E-commerce, brick-and-mortar continues to co-exist for economic vigour

KUALA LUMPUR: Traditional brick-and-mortar businesses will continue to co-exist with e-commerce, as businesses integrate offline and online strategies to cope with the changes brought about by the new norm and tap into the growing potential of the digital economy.

Shopee head of seller management Zed Li said the e-commerce platform has taken the lead to onboard more than 1,000 traditional brick-and-mortar businesses together with malls, cinemas, food and beverage (F&B) outlets and more nationwide, to strengthen the ecosystem and forge ahead despite economic headwinds.

"E-commerce's contribution to Gross Domestic product (GDP) grew from RM89 billion in 2015 to RM127 billion or 8.4 per cent of GDP in 2019.

“While the contribution of online retail sales to overall sales is still small, it still has room for strong growth," he said at the media briefing on “E-commerce and Brick-and-Mortar to Co-exist for Economic Vigour” via youtube yesterday.

Meanwhile, UOB Malaysia Senior Economist, Julia Goh said there is much to be done as the economy suffered projected losses amounting up to RM67 billion following the implementation of the Enhanced Movement Control Order (EMCO) and Conditional Movement Control Order (CMCO).

"Private consumption will continue to be the key driver of growth in 2021, accounting for up to 60 per cent of Malaysia's GDP.

“Therefore, offline retail and service sectors must find ways to thrive in a post-pandemic environment whereby higher unemployment levels may spiral into weaker purchasing power," she said.

Li said Shopee will continue to support the business community -- be it large outfits or micro traders -- with seller incentives and e-commerce education such as the '12.12 Free E-commerce Workshops' on digital literacy and ways to boost sales and exposure.

He said besides supporting businesses, the e-commerce platform is rallying support for the underprivileged as well as rewarding consumers through its 12.12 Birthday Sale through “#ShopeeGivesBack Charity Initiative”.

"2020 has opened our eyes and showed us the importance and capability of technology to truly enable positive change.

"We continue to be committed in powering the growth of e-commerce in 2021 and beyond by bringing the human touch to online shopping, personalising and creating a seamless customer journey through integrated payments and logistics, engagement features and innovative experiences that value-add to the overall Shopee journey," he added.

In addition, Shopee also introduced a brand new live game show, Shopee Kotak Duit that rewards users with up to RM12,000 in cold hard cash.

Hosted on Shopee Live at 9pm every Monday to Thursday, with special sessions on Dec 11-12, lucky users will be called to answer one simple question and given a chance to unlock one of six boxes.

-- BERNAMA