#MYCyberSALE Garners RM67.38 Million In Sales

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KUALA LUMPUR – #MYCyberSALE, Malaysia’s biggest online sale event, has earned over RM67.38 million in sales from 179,617 local online shoppers.

The results have surpassed the target of RM50 million sales by 134 per cent and 100,000 buyers by 179 per cent, Multimedia Development Corporation (MDeC) said in a statement.

The first government-led cyber sale in the world driven by MDeC via the Digital Malaysia initiative, #MYCyberSALE ran from Sept 29 to Oct 1, 2014.

MDeC said 3,700 merchants from 280 e-Marketplaces, representing local and foreign online retailers, took part in the event.

It said they catered for 4.7 million Malaysians and achieved a six per cent in conversion rate throughout the sale period.

MDeC Chief Executive Officer Datuk Yasmin Mahmood said the results clearly indicated that Malaysia’s e-commerce industry was thriving with opportunities.

“Local SMEs should strike while the iron is hot as we look to increase the domestic e-commerce revenue, making Malaysia one of the world’s biggest net exporters,” she said.

During the sale event, online traffic rose to 222 per cent while online shoppers who visited #MYCyberSALE website showed a distinctive interest in the electronic, gadget, and fashion segments.

“Interestingly, 57 per cent of all visits to #MYCyberSALE, website were through mobile phones.

“Due to the overwhelming success, #MYCyberSALE strengthens our commitment to grow Malaysia’s e-commerce industry which is aligned with Digital Malaysia’s imperative journey towards building a digital economy by 2020,” she said.

Yasmin said the event would continue next year and called on local e-Marketers to support the journey in growing the local e-commerce ecosystem.

The online sale was also endorsed by the Domestic Trade, Cooperative and Consumerism Ministry, the Malaysian Communications and Multimedia Commission, SME Corp, and CyberSecurity Malaysia. – BERNAMA