Getting on Board With E-Commerce

Fifteen years ago, e-commerce companies like Lazada and Shopee didn’t even exist. Today, they have a large presence in regional and international markets, becoming household names in the e-commerce sphere.

In larger countries like Malaysia and Indonesia, building a consistent retail presence across the entire country can be unfeasible for smaller businesses. Both brands and consumers may face challenges dealing with traditional logistics in more remote areas and instead embrace online logistics to expand their reach.

As a growth trajectory, e-commerce no doubt appeals to traditional businesses. With the Internet, reaching out to new markets has never been easier for companies both large and small. However, setting up shop in the online marketplace is easier said than done. Your plan should account for the fundamental properties of the Internet and user behaviour. When customers shop online, they’re having different experiences and looking at your brand from a new, digital perspective.

Even as you’re jumping on the bandwagon, remember that tried-and-true strategies do not guarantee increased profitability online; what appeals to an offline shopper may not appeal to an online one. No matter what your e-commerce strategy ends up looking like, its success rests on customer acquisition, customer loyalty and channel optimisation.

Enterprises are increasingly moving towards a multi-channel commerce model that integrates online, print and sales channels into a single unified ecosystem. Traditional businesses looking at this new model must take several new key elements into consideration. The road to e-commerce strategy forks at the beginning – you must decide whether to sell on your own platforms, or through third-party online marketplaces like Lazada, Shopee and Qoo10.