2017 seems to be an excellent year for online merchants worldwide. eCommerce is growing at a fast pace, maturing into a successful industry in Southeast Asia.
In this context, it is no surprise that Google Shopping is expanding to new in Asia and Malaysia is one of the beta targeted markets.
What are the implications of Google expanding to Malaysia and how can retailers and shoppers alike benefit?
The Current State of eCommerce in Malaysia
In 2017, revenue generated through eRetail in Malaysia is approaching $1.2 billion. The figure is expected to reach $2.5 billion in 2021, with an impressive annual growth rate of 23%.
Malaysia’s connectivity levels are also pretty high: there are more than 20 million Internet users in the country, with user penetration hitting 65.7%. On top of that last year, eCommerce contribution to the Malaysian GDP was 5.9% and is forecasted to grow up to 6.4% by 2020.
Similar to other countries, smartphones lead the way as a device of choice for online shoppers in Malaysia. 80% of Malaysians who buy products online use their mobile devices to shop.
What do Malaysians buy?
The largest eCommerce segment is represented by Electronics & Media, with a market volume of $425 million. Other significant categories are Fashion and Furniture & Appliances.
When it comes to online shopping, the price is the most important for Malaysians. Overall, 95% of Malaysians who buy online are extremely satisfied with their shopping experiences.
Get Started with Google Shopping in Malaysia
For merchants just starting out with Google Shopping, it might look intimidating at first. Starting early, armed with the right tools and knowledge, will give you the edge in front of your competitors.
The steps required to have your products listed on Google Shopping are:
- Request a Google Merchant Account and start building up your product feed following Google's Feed Specifications.
- Once your feed is ready, upload it to the Merchant Center and fix the warnings or disapprovals.
- Set up regular updates on your feed, so that all availability and price changes are immediately sent out to Google.
- If you have already covered the basics of advertising on Google Shopping, it is time to move to optimizing your feed. Based on your Google Shopping expertise level we have prepared two resources:
Currently, Malaysia is not a big eCommerce player. But the future looks promising: high penetration rate, affinity for mobile, online shopping satisfaction – all are elements that give the country a big potential for eRetail.
If you are a Malaysian merchant and you have found this post useful, then you'll probably find our Double your Google Shopping Sales Guide useful.
Download it and learn how to drastically improve the quality of your data feed and increase your sales.
If you have questions get in touch with us for a feed management consultation. We can help you get your feed ready and optimized in no time for Google Shopping in Malaysia.