Buckle up, because the e-commerce scene in Malaysia has been a wild and unpredictable ride lately! We’re about to take you on a journey through the highs and lows, the unexpected twists, and the dramatic shifts that kept e-commerce sellers and shoppers on the edge of their seats.
August 2023: The Month That Defied Expectations
August usually marks the end of ecommerce cold sales, but this year, it took us all by surprise. August came charging in with a bang! Thanks to Shopee game-changing subsidy live vouchers and irresistible free shipping deals, e-commerce sellers experienced a sales surge like never before. Meanwhile, TikTok turned shopping into shoppertainment with a series of electrifying events which encouraged spending.
September 2023: The Plot Thickens
As we stepped into September, things took an unexpected turn. There were some rising prices of staple foods like rice and bihun, which sent shockwaves through the nation. Consumers grew cautious, and the excitement of online spending dwindled. The e-commerce landscape witnessed a dip in sales as shoppers reconsidered their choices, some opting for the familiar sights of brick-and-mortar stores. This causes Tiktok revenue dropped to RM420k while Shopee trying to tank the sales at RM1.4b.
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 .
The Makeup Industry: Unstoppable Glamour
While most categories saw a decline, one industry stood tall amidst the chaos – the makeup industry. In a world that has turned uncertain, makeup remained a daily essential, proving its resilience in the face of economic turmoil. A few familiar number that we can see is that while all category is dropping, the makeup industry still manage to maintain its stronghold as its a necessity to still look good and is an everyday use item.
Enter the Dragon: Temu’s Malaysian Debut
Things will get even more interesting as Temu just entered the local presence in September and is deemed to come with a bang. Temu who had been an Ecommerce powerhouse in china which is Pingduoduo where they are famous to sell thing at a fraction of cost which creates fury to all local seller as they brought in excessive price war.
What Lies Ahead in October and Beyond?
We would definitely hope the worst is over at September as at the near end of September we start to see a sign of reversal on TikTok side but for Shopee unfortunately it’s going on a downtrend. However, in the world of e-commerce, resilience, adaptability, and innovation are the name of the game. As we eagerly anticipate October, may fortune smile upon those intrepid souls who dare to ride the e-commerce rollercoaster, embracing both its exhilarating highs and its challenging lows
