Malaysians love shopping. And they certainly love savings. As revealed by ShopBack today, Malaysians are getting smarter in online shopping, as they scour the internet for the best deals and also use cashback platforms like ShopBack for further savings. ShopBack Malaysia has seen a phenomenal 150 percent spike in user growth in 2019 compared to a year ago, with a 200 percent growth in sales enabled through the cashback platform.
This trend of hyper-growth is expected to continue; ShopBack Malaysia’s sales in the first quarter of 2020 has already surpassed benchmarks set in the same period last year.
Before ShopBack entered the online retail space in 2015, the concept of cashback only existed offline, usually offered via credit cards. Sceptical of the concept in the platform’s early days, consumers have gradually embraced the online rewards model, with user numbers now totalling 2.5 million.
The hyper-growth in both user acquisition and sales revenue seen in the last 12 months can be attributed to more pervasive awareness of the brand, the popularity of mega sales events such as 11.11 and 12.12, as well as the introduction of new verticals such as Online Survey and e-wallet.
The expansion of its partner merchant network has also grown steadily which now stands at over 500. Popular categories among Malaysians are online marketplaces (Lazada, Shopee, Taobao); fashion, health and beauty (Zalora, Hermo, FashionValet); and travel (Agoda, Booking.com and Klook).
Latest merchants to come on board the platform includes Dahmakan, Ogawa, and sports fashion brand Maxx Sports.
ShopBack announced that Uniqlo and Apple are in the midst of onboarding and are slated to officially go live at the end of Q1 2020.
Malaysian users can also expect additional categories such as home improvement, financial services, food delivery, utilities and more.
“Malaysians love cashback savings. To date, our users have earned more than MYR60 million worth of cashback. The highest accumulated cashback earnings by a single user currently stands at MYR69,145.64,” revealed Eddy Han, country general manager of ShopBack Malaysia.
ShopBack Malaysia discovered that users love to shop between 2PM to 3PM during normal working days. This changed during mega sales, as many rushed to check out at midnight (12AM to 1AM) to secure the best discounts and purchase limited promotional items.
Mega online sales events were a huge hit amongst online shoppers. Leading the pack in terms of generated sales revenue was 11.11 (Singles Day), followed by 12.12 (Lazada) and ShopBack’s own 9.9 anniversary sales. Last year, one-day 11.11 online sales saw an 80 percent increase compared to the same day in 2018.
In the last five years, more than 60 percent of transactions enabled through its cashback platform were for items sold under online marketplaces. Han revealed that the average order value (AOV) for online marketplaces purchases is around MYR200, compared to an average of MYR600 for travel bookings, the highest AOV category.
Online marketplaces offer a plethora of products and services, not just for selling gadgets, electronics and home appliances, but now also mobile reloads, bill payment, and discount vouchers; offering a convenient one-stop shopping destination for consumers.
As it celebrates its fifth-year milestone in Malaysia, ShopBack today announced product enhancements for its web and app platforms. It rolled out an upgraded browser extension for desktop users that enhances customer experience further.
That aside, ShopBack also announced a series of new offers including a MYR50,000 Shopping Spree Giveaway and 100 percent epic cashback vouchers.
Han said the company is projecting another bullish year in 2020 and is confident of maintaining the same growth rate as 2019.
Get started with ShopBack
If you’re an avid online shopper and have yet to enjoy real cashback for your purchases, register for a free ShopBack account today. Start earning from your purchases on Lazada, 11street, Nike, Taobao, Booking.com, Expedia, Hermo, Zalora, Photobook, and many more.
For more info, visit ShopBack