February has flown by fast, and it’s time the time to check our sales performance again. If you’re feeling a bit disappointed, don’t worry – a slight drop in sales is quite common for this month because of the shorter period and long Chinese holiday. Now let’s look into some platform big data.
Shopee continues to impress, with sales revenue remaining strong at RM1.8 billion. Why would i say they still impress is because although they reduced their free shipping voucher from RM5 to RM3, it didn’t have a major impact. This shows their resilience and market acceptance of their platform.
On the other hand, TikTok hit an all-time high, reaching RM830 million in sales revenue. This is particularly impressive given that February is the shortest month of the year. It’s exciting to think about what they’ll achieve during the upcoming Raya period – can they finally surpass the RM1 billion mark?
Looking ahead, March promises to be an interesting month. Almost all e-commerce platforms are rolling out “Change of Mind” features, designed to benefit buyers and also increase in commission fees which further impact sellers. Sellers definitely need to up their game to be sustainable starting the next quarters onwards to adept this changes.
To end the note, there is one major highlight that was announced quietly in February which is Shopee’s introduction of Shopee Play in Malaysia. Shopee play is something like Shopee Feed in the past but it focuses only on short video content that allows product tagging. This signals their commitment to enhancing user experience. The real challenge now is how to keep users engaged with product-focused videos on the app. It’s definitely food for thought for Shopee as they navigate this new terrain.
As we move forward, it’s crucial to stay adaptable and innovative in response to changing market dynamics. Let’s see what the future holds for e-commerce in Malaysia!
This report is powered by robust data analytics from two industry leaders: Mobduos for Shopee and Kalodata for TikTok. But before we dive into the exciting findings, a word of caution: while our data provides valuable insights, always remember that there may be slight variations from real-time statistics. Get a free trial to Shopee and Tiktok Bigdata and let us know if you would like a promo code to purchase when you find them essential .
