A marketplace is defined as the arena of competitive or commercial dealings. An e-marketplace can be horizontal – offering products from various categories – or vertical – offering only products of a specific category. Read more
In 2015, Malaysia’s ecommerce market was estimated at $1 billion. The country’s ecommerce landscape is actually on par with Singapore, in relations to the well developed infrastructure and market size. Mixed in with the global powerhouses such as Lazada and eBay, Malaysia also has an influx of prominent local players.
Here are the top 5 apps you should be aware about if you’re planning to enter the commerce market.
1. Lelong (B2B/B2C)
An online incumbent in Malaysia’s ecommerce scene, the country’s alternative to eBay currently has over 8 million monthly visitors and over 1.3 million products available across different categories, from mobile phones to frozen food.
Since then, Lelong has also launched a virtual marketplace, Lmall, the first premium platform that allows Malaysian shoppers to find authentic products and shop from a variation of brands such as Nescafe and Durex.
2. Go Shop (B2C)
Owned by Astro Group, Go Shop is growing from strength to strength. The startup is currently serving 691K customers in Malaysia. Go Shop is a 24/7 online home shopping app, which is in tandem with its online TV shopping channel, giving those classic TV infomercials an ecommerce twist.
Recently, GoShop has expanded its services to serve ecommerce shoppers in Singapore through a partnership with StarHub cable.
3. imSold (C2C)
Previously shoppingKaki, imSold is a mobile shopping destination in Malaysia. A classic C2C platform that allows users to buy & sell their own things from iPhones to handbags and caters towards university students who can easily shop among friends on the platform.
imSold was recently included in one of Google Play’s most popular apps, as the third most downloaded app in the store.
4. MyBazar (C2C)
MyBazar is an online marketplace that connects merchants to the rest of the ecosystem. Merchants are given a personal space to operate and run, as if they were actually running a physical store in a bazar. A C2C platform that aims to support SME merchants, regardless of their technology capabilities or business size.
Originally founded in Dubai, MyBazar currently operates in both Dubai and Malaysia.
5. Gemfive (B2C)
Founded by the youngest son of the Hong Leong Group family, Gemfive launched in Q2 2015 and has since then, offered over 300 brands and over 10,000 to its shoppers (2015). The app is a local alternative to Lazada.
From electronics to fashion, Gemfive insists on no parallel imports on its platform.
Want to know more about Malaysia’s ecommerce landscape? Check out eIQ’s ECOMScape Malaysia here.