e-Commerce in Malaysia

Well, since many of us would be soon finishing our MSC IT for good, perhaps the free Saturdays would be put into good use by plunging into the e-commerce kinda thing (read ebay-ing). At least we're still going to be connected with IT innit?

These are some (Malaysianised) tips and info for those intending to venture into e-commerce:

E-COMMERCE SUCCESS TIPS

By CHRISTY LEE S.W.

BUDDING e-commerce merchants should keep one thing in mind: The Internet business platform is not immune to bad business practices, said Blooming.com.my’s managing director, Martin Cheah.

“You will still need a sound business model that works. The usual business basics apply to e-commerce, but keep in mind that there are also other factors to consider,” he said.

“Some business models may appear logical on paper, but it may not work online,” he said.

“And just because an idea worked in one place at one point in time does not mean it’ll work again at another place and time,” he said.

For example, several local companies failed when they tried to set up a virtual mall in Malaysia. But when Yahoo! did it, it was very successful, said Cheah.

“And what doesn’t work at one point doesn’t mean it would not always work – perhaps it is just not the right time or marketplace,” Lelong.com.my’s Tan added.

Also, not all products are suitable to be sold online, he said.

“You have to evaluate the type of product – whether it is breakable and how you’re going to ship it,” he said.

If you’re new to e-commerce, you need to find a way to differentiate yourself, he added.

“You need to bring something new to the table that others are not offering or cannot provide,” he said.

“Since the entry barriers to e-commerce are low, anyone else can easily come in and take over your market,” he said.

Traditional business might be more slow-moving and predictable, but the e-commerce landscape is not, said Cheah.

“It allows creative energy from anyone and anywhere to compete on the same platform,” he said.

He said those who want to venture into e-commerce have to understand that rapidly changes and continually evolves everyday.

“In this business, you need to expect surprises and be ready to react to it – you’ll never know when a young boy with a bright idea might just come and change everything,” he said.