According to Hootsuite, the total annual spend on online consumer goods alone in 2021 was at USD 8.17 billion, an equivalent increase of 40.4% compared to previous year. There are a total of 14.43 million consumers
purchasing goods over the internet and this is driven by e-Commerce initiatives such as free delivery,
discounted coupons, positive consumer reviews, loyalty points, gift with purchase and many more.
Ecommerce:
Consumer Goods Categories
Electronics
$2.73 BILLION
Year on Year Change
+36.5% (+$729 Million)
Fashion
$2.54 BILLION
Year on Year Change
+49.5% (+$842 Million)
Furniture
$741.0 MILLION
Year on Year Change
+32.8% (+$183 Million)
Toys, Hobby, DIY
$620.9 MILLION
Year on Year Change
+50.3% (+$208 Million)
Personal & Household Care
$970.9 MILLION
Year on Year Change
+32.9% (+$240 Million)
Food
$151.7 MILLION
Year on Year Change
+78.0% (+$66 Million)
Beverages
$42.79 MILLION
Year on Year Change
+68.1% (+$17 Million)
Source: Hootsuite 2022
Many brand owners are now venturing into e-Commerce and hoping to establish a strong foundation in these marketplaces. In today’s fast moving trend, marketplaces have also evolved from just a seller-buyer platform into a social place where consumer’s review are essential in developing a brand’s growth. A total of 43.7% of the consumers do their brand/ product research based on the consumer's review before deciding to purchase a particular product/ service offered online. Therefore, brand owners are more cautious with their brand image and have always tried to maintain good consumer’s reviews.
With the overall growing trend of e-Commerce and social media, brand owners and small businesses are collectively spending approximately RM 765 million on digital advertising in order to create top of mind brand awareness and ultimately to drive both online and offline trade.
If you have a brand and are looking into venturing into e-Commerce but not sure how or where to start, talk to us and we are more than willing to share our expertise.
