Organiser: Selangor Information Technology and E-Commerce Council (SITEC)
Class: 13th EC Class of 2015
Title: On E-Entrepreneurship
Date: 20 Oct 2015
Over 130 entrepreneurs attended the talk on Marketplace and Entrepreneurship held at Selangor Digital Creative Centre (SDCC).
The session was kicked off by Chan Kok Long, CEO of iPay88. The company is the leading regional Payment Gateway Provider in South East Asia, offering e-commerce and online payment services to more than 5000 merchants globally.
Chan urged entrepreneurs to study how successful icons bounce back from failures and accept criticism. “Losing RM5k previously because of fraud was a blessing that encouraged me to specialize in fraud,” he said. “Also, if you don’t have good tech knowledge, always ensure that your partner has it. Never depend on staff for that. And always review your success which can be lost in a split second.”
Mavis Chuah, Regional Manager for Amazon Global Selling, ASEAN, suggested that online merchants step out of the local market by expanding to the US which has a more mature market that is dependent on online purchases. She explained how Amazon’s Fulfillment (FBA) can help with the logistics for this expansion.
Chuah who has experience in pioneering different marketplaces in Malaysia and Singapore stated that 93% of FBA’s customers have increased their sales since using the services. Upon delivering a minimum of two units of a product to the US, the product will be picked, packed and shipped to customers, along with customer service being provided.
Andy Lau, CEO of Youbeli has proved that it is possible to build up a reputable customer base by selling a wide range of traditional products, from books to tools. Created in 2009, his company is now acknowledged as one of the top B2B2C marketplace in Malaysia. It provides the platform, traffic and expertise for retailers to conduct businesses online.
“Our return rate for customers is 30%. These include faithful customers who have been with us for 15 years. Our database may not be huge but it’s very solid,” he clarified. By using Youbeli’s e-commerce platform, hundreds of retailers and individual sellers have increased their sales and gained new customers.
Shaun Yap, Manager of Seller Development, Merchandising Division from 11Street (an open marketplace operated by Celcom Planet Sdn Bhd.) stressed that the government is currently spending more on tech infrastructure. “Mobile phones and the Internet are equally important. Today’s trends reveal that 7 out of 10 consumers are using a smartphone to access the Internet. Malaysia has a higher smartphone penetration than the average Asian country. “
The 11Street apps was No 1 on the Google Play Top Apps Chart. The company differentiates itself by offering many benefits for merchants. In terms of education, there are online tutorials and workshops, while its marketing plans include driving 14 million Celcom users to its online store.