News digest 22.08.2022
Shopee reveals Malaysians’ impact on e-commerce
A new study of over 3,300 buyers and 2,100 sellers across Malaysia by online marketplace platform Shopee on its users has revealed the impact Malaysians are making on the economy through their continued online shopping behaviours. These sellers were quoted saying that Shopee provides a ‘very straightforward buying and fulfilment process’ (34%); the recognition of made in Malaysia products are of affordable and of high quality (23%); the platform offers great customer service (19%); and Shopee offers an optimised storefront with various marketing tools (9%).
Ambank, Lazada to offer business financing for MSMEs
AmBank has partnered with e-commerce platform Lazada to provide holistic solutions and additional facilities to further empower Malaysia’s micro, small and medium enterprises (MSMEs) sector. In a statement, the bank said it is offering business financing up to US$448,000 (RM2 million) exclusively for local entrepreneurs and sellers on the Lazada Malaysia platform to grow and sustain their online businesses.
TikTok rolls out new in-app Shopping Ads
TikTok launched a series of new Shopping Ads as it looks for more opportunities for brands to promote their products in video streams. The company said Shopping Ads were a simpler and more advanced advertising option for brands to meet their goals and boost sales. The ads are now live for testing and encompass three types in one: video shopping ads, catalogue listing ads and live shopping ads. Product details are overlaid on videos to showcase items to viewers.
YouTube looking to expand app subscription partnerships
YouTube may be adding a channel store for streaming services to its app, competing with Amazon, Roku and Apple. This would mean that users could be adding subscriptions to other streaming services to their package. Right now, YouTube already offers users access to added services like HBO Max. Sources familiar with the matter told the Wall Street Journal that the company is discussing such an option with entertainment companies.
Retail brand app downloads fell 7% in Q2 2022
Installs of retail brand apps dropped 7% to 150 million in Q2 2022 compared to Q2 2020 driven by pandemic lockdowns lifting and the economic crisis. According to new data from Sensor Tower, marketplace apps like Amazon and AliExpress had their shares decline from 55% in 2019 to 24% in H1 2022 as the competition stiffened. The top five fashion apps for downloads were SHEIN, Vinted, Trendyol, Zalando and H&M.
Alibaba Cloud launches 2022 Create@ Global Startup
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group has launched its 2022 Create@ Alibaba Cloud Global Startup Contest in Malaysia. In a statement, the company said it is partnering with HandsProfit, the local operator of Alibaba Cloud Innovation Center Kuala Lumpur in Malaysia. The contest acts as a platform to drive digital transformation and tech innovation and for tech startups to unleash their potential via a network of investor ecosystems.