Commerce.Asia Venture, Malaysian commerce technology venture builder, today announces its partnership with two Thailand Technology Enablers to accelerate cross-border e-commerce between Thailand and Malaysia.\u00a0<\/p>\n
Commerce.Asia entered into joint venture agreements with two Thailand Technology today.<\/p>\n
\u201cWe are honoured to partner with MDeC in their drive to push Malaysia SMEs across international borders and Thailand is a significant market for us to target.\u00a0<\/p>\n
\u201cThe e-commerce market in Thailand was valued at USD2.9 billion in 2017 and on average a user spent USD243 per person last year (there are 12.1 million registered e-commerce users in Thailand).\u00a0<\/p>\n
\u201cBy 2021, average user spending is expected to increase to USD382 as revenue is targeted to increase to USD5.3 billion,\u201d said Commerce.Asia executive chairman and founder, Ganesh Kumar Bangah.\u00a0<\/p>\n
In 2017 Malaysia\u2019s export to Thailand amounted to RM50.53 billion making them one of the top ten export nations for Malaysia.\u00a0<\/p>\n
However, the exports mainly came from the electrical and electronics (E&E) products, crude petroleum, chemical and machinery sectors.\u00a0<\/p>\n
On the other hand, our imports from Thailand totalled RM48.16 billion in 2017 with imports mainly from E&E products, transportation equipment, chemical products, machinery, equipment and parts and natural rubber.\u00a0<\/p>\n
Commerce.Asia entered into a collaboration with MDEC under the Digital Free Trade Zone (DFTZ) B2C Export program, that aims to promote and drive export by Malaysian SMEs outside of Malaysia.\u00a0<\/p>\n
Under the program, Thailand has been identified as the first cross border country that Commerce.Asia will be targeting and through this partnership, Commerce.Asia will onboard Malaysian merchants to sell products to Thailand consumers.\u00a0<\/p>\n
The Thai e-commerce spending pattern points to electronics as the top product category accounting for USD1.3billion market share followed by fashion, which accounts for USD525 million in sales.\u00a0<\/p>\n
By 2021, while electronics will continue to lead the market share, Fashion is expected to double in market share.<\/p>\n
Logistics and warehousing are the two most important aspects that hinders e-commerce, especially cross border e-commerce. It\u2019s not so easy to handle the logistics of delivering orders to another country in a short time.\u00a0<\/p>\n
Timing is a crucial success indicator as customers will be hesitant to use your services again if it takes too long to arrive. eCommerce customers want things fast, undamaged and cost effective.<\/p>\n
Which is why we have identified and partnered with Shippop to provide delivery support for companies both Malaysian and global who wish to expand their market reach to Malaysia and Thailand.<\/p>\n
Commerce.Asia will license and operate Shippop in Malaysia and sign up local delivery providers to provide pickup and delivery services to local and international merchants in Malaysia while Shippop already does the same using their technology in Thailand.\u00a0<\/p>\n
With this partnership, online merchants based in Malaysia and Thailand can easily ship off their parcels to consumers to both countries in an efficient, integrated and seamless manner,\u201d said Ganesh.<\/p>\n
On the other hand, the partnership between Siam Outlet and Malaysian based Letmestore will help merchants better pack and manage the storing of their products in a cost effective way.\u00a0<\/p>\n
Siam Outlet and Letmestore will both use the same proprietary Intelligent Fulfilment Platform developed by Siam Outlet.<\/p>\n
This platform covers importing, packaging and delivery with real time ability to allocate stock availability in Malaysia and Thailand.\u00a0<\/p>\n
To solidify the relationship, both Commerce.Asia and Siam Outlet will be investing in Letmestore.\u00a0<\/p>\n
\u201cBoth these significant tech enablers will be integrated into our Commerce.Asia Enterprise platform.<\/p>\n
\u201cThis will enable vendors who have subscribed to our platform to easily tap into these valuable resources to enter the Thai market,\u201d added Ganesh.\u00a0<\/p>\n
The fully integrated one-stop platform Commerce.Asia Enterprise was launched last month to enable Malaysian SMEs to quickly move their business online – right from building their online store, payment gateway, inventory & warehousing, shipping and delivery, social media marketing and order management, to marketing and managing their products via up to six local and four regional and global Marketplaces; automatically managing all aspects of the online business for them.\u00a0\u00a0<\/p>\n
Various packages based targeting both SMEs and micro SMEs have been created to enable them to take the next step in expanding their business.\u00a0<\/p>\n
\u201cWhy limit yourself to only Malaysia, its time Malaysian SMEs think beyond the borders of Malaysia and reach out to new markets via these e-commerce market enablers.\u00a0<\/p>\n
Malaysians have much to offer and it\u2019s time we equip ourselves to reach out to a wider audience. Commerce.Asia is ever ready to be the bridge in your export dreams,\u201d concluded Ganesh.\u00a0<\/p>\n
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Commerce.Asia Venture, Malaysian commerce technology venture builder, today announces its partnership with two Thailand Technology Enablers to accelerate cross-border e-commerce between Thailand and Malaysia.\u00a0 Commerce.Asia entered into joint venture agreements with two Thailand Technology today. \u201cWe are honoured to partner with MDeC in their drive to push Malaysia SMEs across international borders and Thailand is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1711","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1711"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1711\/revisions"}],"predecessor-version":[{"id":4736,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1711\/revisions\/4736"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}