The Malaysian Government is organizing the first ever Government-led cyber sale in the world! As a Malaysian, first thought that sprang to my mind was, “Is the Malaysian Government that desperate for money?!” That was almost immediately shrouded by a loud exclamation of, “Yes! A sale!”
MYCyberSALE will run from September 29 to October 1 and hopes to generate RM50 million in sales. Offering deals as high as 90% discounts, the Multimedia Development Corporation (MDeC) is hoping to reach 100,000 buyers. MDeC hopes that the event will boost e-Commerce industries in Malaysia. As if we don’t shop enough online as it is.
A study by e-commercemilo.com showed that 91% of internet users shop online, with more than half of that shopping online monthly, 26% weekly, and 7% daily.
In an infographic by MDeC, MYCyberSALE was likened to Cyber Monday, a marketing strategy that consists of providing online discounts and promotions on the Monday after Thanksgiving, started in the United States to persuade shoppers to shop online. Other countries have followed suit with their own versions of Cyber Monday, including the Bigger Better Sale in Singapore and Online Mega Sale in Thailand.
MYCyberSALE will be featuring well-known businesses like LAZADA, Groupon, AirAsia, Zalora, Rakuten, MilkADeal and Lelong.my. The e-tailers are expected to fulfill several requirements before being allowed to participate in MYCyberSALE.
They must be registered under the Business Act 1956 or Company Act 1965 and have a website within the e-marketplace with a recognized and secure payment gateway. In addition, they are expected to provide significant discounts during the sale, participate in joint marketing efforts and provide performance reporting on their total transaction value and number of shoppers.
This application process may seem tedious. However, it is well worth the trouble. Among the 9% of Malaysians who don’t shop online, trust was the reason quoted in their reluctance to buy things online. This application process enforced by the government ensures that the merchants are trustworthy and lets buyers have a peace of mind when carrying out purchases.
In exchange for participating in MYCyberSALE, the merchants would obtain free advertisement and exposure through the MyCyberSALE website as well as various other media avenues for free.
If you visited website right now, you would only see a plain blue screen with the words “Malaysia’s BIGGEST ONLINE SALE” as well as a countdown clock. It also has a “Contact Us” button that redirects you to Microsoft Outlook… which worries me a little. Is that website capable of sustaining the heavy traffic of 100,000 buyers eager to catch a good deal? Hopefully this won’t be a problem as the site would probably be merely a gateway that will link buyers to the relevant sites to purchase items.
MDeC chief operating officer Ng Wan Peng said that he hopes to make MYCyberSALE an annual affair. Datuk Yasmin Mahmood, MDeC chief executive officer shared that 70% of small/medium-sized business owners do not market their products online. There is a huge potential in revenue that these companies are not realizing, and MYCyberSALE hopes to change that.
So what are you waiting for? Ready your wallets! Upgrade your internet! This will be a fun 3 days!