“Since we signed up as an iprice partner, we’ve received a high volume of quality traffic. This has made a tremendous impact on our sales figures,” said Ian Chua, the Founder and CEO of Hermo, a Malaysian-based cosmetics and beauty product e-commerce portal. He also added, “iprice makes sure that Hermo’s attractive deals get the exposure they need.”
This is one of the key benefits brands reap when they partner with Malaysian startup iprice. It’s a platform that curates products from different sellers and different categories so that you, the customer, can have the “most delightful online shopping experience”.
iprice gives brands an opportunity to win over new customers and to grow their traffic through their platform. iprice makes use of advanced product discovery technology so that customers find exactly what they are looking for, and once they do, they are sent over to the brands website.
Such customers often show a clear intent to make a purchase, and this makes it incredibly easier for brands to convert them into an actual sale, once they are directed to the site.
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It’s important to note that the platform doesn’t sell any products directly, it only helps customers discover them.
Given that the e-commerce continues to rise exponentially in Southeast Asia, it’s no surprise that startups and businesses continue to scramble and fight for a foothold in the e-commerce space. Even though there are numerous e-commerce stores, customers are still left confused and dissatisfied especially when they are looking for a particular product.
Based in Kuala Lumpur, iprice is the platform that promises to guide a customer’s shopping efforts through this often-messy web of e-commerce platforms and apps. The platform features a wide array of product categories, all the way from electronics, clothing and jewellery to automotive products.
Speaking on what iprice essentially does, Tito Costa, the Managing Director of Zalora Group said, “iprice helps online shoppers to find what they have been looking for and to discover new products. They send high converting traffic to Zalora across the Southeast Asia region and drive our revenue across the Southeast Asia region, and drive our revenue significantly.”
Essentially, it’s an online shopping mall that offers over 3 million products from more than 10,000 local and international brands. iprice brings you the latest trends and technologies with the best prices, offers and deals, all into one place. The platform also processes more than 1,000 money-saving coupon redemptions every day.
They were able to achieve such phenomenal growth through the help and funding provided by the Asia Venture Group. They were able to quickly acquire international know-how, expertise and talent from the fields of technology, online marketing and business. With this they were quickly able to grow into leading platforms for online shoppers across sever markets namely, Malaysia, Singapore, Indonesia, Philippines, Hong Kong, Thailand and Vietnam.
In fact they also managed to pass the 100 merchant signup mark recently making them the largest merchant affiliate network. Speaking on this milestone, Sandeep Raj, Vice President of Sales & Business Development said, “Today’s announcement is the product of our continued cooperation with merchants from around the region. The iprice merchant ecosystem significantly increases the web traffic and sales potential of e-commerce sites and retailers of all sizes.”
Since then, iprice has driven over US$2 million in sales for their partners and they generate over a million pageviews every month.
He also added, “Crossing this milestone in four months puts us well on track to achieve our goal of growing the network to 200 merchants by year-end 2015.”
Given the exponential growth, it wouldn’t be a surprise if they indeed do meet their goal.