With the proliferation of mobile and internet connectivity, consumers are taking to searching, researching and buying products and services online. Buying online these days is cheaper, easier, more secure than ever before. Many products are also online-exclusive, not available via conventional brick-and-mortar stores. Online stores and marketplaces have come and gone, but one that is my current favourite is 11street, launched here last year.
First established South Korea in 2008, it’s grown rapidly to become one of the top global e-commerce platforms with over 400,000 sellers serving 30 million consumers globally. The secret to its success is its breadth of offerings, “Shocking Deals” section, myriad payment options and excellent customer service.
Online shopping is a growing trend, and yet only accounts for less than 3% of total retail spend, in Malaysia. So we’re only really at the tip of the iceberg.
When talking about shopping, a couple of things come to mind. How’s the selection of items? How competitive is pricing? How is the user experience of the site? How credible is the site? Is it safe? Is the product information accurate and dependable?
All valid questions. And data research reflects these concerns. A 2015 report revealed that most common reasons for preferring online shopping were price and flexibility (62%). Malaysians tend to look out for the best deals by researching online. At 70%, that’s one of the highest rates in Southeast Asia.
Security is a huge factor when it comes to spending money online. From January to July last year, over RM1 billion was stolen through cybercrime in Malaysia. That makes us sixth highest in the world for online fraud. Having said that, by taking some basic steps, you can have a worry-free shopping experience at your favourite online destination.
To further enhance your shopping experience, here are five awesome tips to shopping smart, and shopping better.