Good news for Chinese cross-border e-commerce sellers! Malaysia's 15 billion aid plan

Good news for Chinese cross-border e-commerce sellers! Malaysia's 15 billion aid plan
With RM15 billion in relief measures, the vaccination program progressing in an orderly manner, a future commitment to promoting online payments, and the implementation of 5G measures to facilitate the economy, Malaysia is expected to grow by 5.6% in 2021.


At the beginning of this year, in order to mitigate the economic impact of the recent lockdown measures taken to curb the worsening COVID-19 epidemic, Malaysia announced a 15 billion ringgit relief measure and launched the first phase of the vaccination program at the end of February.

During the epidemic prevention and control period, Malaysian consumers switched to working from home and studying online, and the time they spent at home increased significantly, which completely changed the way consumers buy. More and more families use online shopping as a leisure activity, and the public's demand for "home products" has skyrocketed.

40% of Malaysia's products are provided by cross-border sellers. With the continued impact of the epidemic, remote work and home education have led to a strong increase in Malaysian users' demand for electronic products such as smartphones, computers, and tablets. The increase in imports in December last year mainly came from China.

In particular, as the demand for laptops, game consoles and other electronic products continues, there is a serious imbalance between supply and demand of goods, and many sellers have reported that inventory is in short supply.

Since the implementation of home learning and online learning last year, sales of many products suitable for home learning or office have increased, and this trend may continue for quite some time.

According to TMR’s survey, consumers mostly choose second-hand goods or products with a higher cost-performance ratio, pursuing cheapness and purchasing products within their budget .


Malaysia has approximately 25.84 million active Internet users, a huge consumer group, loose monetary policy, and orderly vaccination. E-commerce is still in a period of traffic dividends . For cross-border sellers, Malaysia is indeed a rare market.


Continuously promoting the digital development process in various fields is Malaysia's main development plan in the future. Therefore, industries including cross-border e-commerce, 5G, and cashless transactions will usher in good news. This is good news for local cross-border e-commerce sellers and cross-border sellers in Malaysia.



As one of the "Four Asian Tigers", Malaysia has a developed national economy and strong consumer purchasing power. It has obvious advantages in the development of the cross-border e-commerce industry and has great potential for future development.


In terms of the number of consumers, although Malaysia has a relatively sparse population, the country has well-developed basic communication facilities, and its network coverage and e-commerce penetration rates are high.


Cross-border e-commerce sellers need to seize this opportunity, conduct a thorough analysis of consumer products in the Malaysian market, and make adequate preparations based on local cultural differences.



<<:  Do cross-border e-commerce in this way? During the quarantine period, the most purchased products by foreigners are actually these!

>>:  Amazon recalls more than 1 million products made in China!

Recommend

VAT changes dramatically! Chinese sellers are crying...

As Brexit is approaching, Amazon UK has been hit b...

What is EMC? EMC Evaluation

The full name of EMC (Electromagnetic Compatibilit...

Starting from scratch, Shopify's 30-day store opening tutorial - Day 2

In the first day of the Shopify store tutorial, w...

BigCommerce acquires BundleB2B! Further strengthens To B business

It is learned that on April 26, BigCommerce announ...

Staying firmly on the best-selling list and achieving a closed-loop traffic flow! Chinese famous brands have repeatedly created Shopee hits!

▶ Video account attention cross-border navigation ...

How to solve the problem of brand abuse displayed during brand registration or authorization?

What I want to share with you today is: How to sol...

What is YiChuang? YiChuang Review

YiChuang (YiNet Innovation Technology (Guangzhou) ...

What is Worldpay? Worldpay Review

Worldpay is a leading global payment service provi...

Amazon and TikTok are rumored to be joining forces, but don't be misled by the media

Normal, once there is data abnormality, such as s...

Is the next Amazon hotspot in Europe? What is the way out for cross-border sellers?

1 Amazon US sellers are accelerating their expansi...

What is YeePay.com? YeePay.com Review

YeePay.com is a pioneer in China's industry pa...

[Official Announcement] HiPay full platform, want to make "billions"!

This year is a year full of opportunities for cros...

Get on the homepage in 3 days! The fastest way to get on the homepage with keywords!

Getting keywords on the homepage is a long-term pu...

[Black Technology] How to view the ranking of products outside the top 100 on the BSR list and estimate sales and market capacity?

I have always been troubled about how to view prod...

What is ETA? ETA Review

ETA is the abbreviation of Estimated Time of Arriv...