KUALA LUMPUR: The National ICT Association of Malaysia (Pikom) in collaboration with Malaysia Digital Economy Corporation (MDEC) is targeting a 42 percent increase in gross merchandise value (GMV) of RM300 million throughout its five-day online sales festival #MYCYBERSALE 2017 from October 9 to 13.
Pikom deputy chairman and e-commerce Malaysia chairman Ganesh Kumar Bangah said bulk of the sales is expected to derive from healthcare and beauty segment.
"We have a 66 per cent increase with over 1,000 merchants participation, compared to 607 merchants last year.
"The far exceeding merchants participation target expectations would be the key driver to achieve our sales target.
"We are also in the process of executing different marketing and promotional programme to better promote the festival," he told reporters before launching the #MYCYBERSPACE 2017 in Kuala Lumpur, today.
Ganesh said the fourth festival is aimed at accelerating small medium enterprises (SMEs) adoption of e-commerce.
"Of the 1,000 merchants, 497 of them are exporters, a 50 per cent jump from 260 exporters that took part in 2016," he said adding that the participating merchants are locals.
With the theme Catalysing Micro Enterprises and Global Trade, the event directly contributes to the marketplace's push in raising interest and participation within the electronic retail and services sectors.
Ganesh pointed out the festival has garnered over 6,000 affiliates through one of its enabler partners and targets to generate about 10 million clicks into the merchants website.
"Enablers are the industry players that help merchants to sell online such as logistics and courier companies and payment gateways," he said.
Prior to the 2017 edition, the event was organised by MDEC where it registered a GMV of RM67 million in 2014, RM117.7 million in 2015 and RM211 million in 2016.
Ganesh said this year's festival has achieved a 40 per cent funding from the private sectors to set up the online sales extravaganza.
"We have seen strong private sector funding for the first time with over 40 per cent of the festival being funded by corporate and retail brands.
"This augurs well towards our goal of making this online festival a self-sustaining in the future," he said.
The festival has also expanded the scope of participation, signing on more service providers as critical platform partners including Lazada, MasterCard and Pinnacle Partners Commerce.Asia.
"These partners would enable online merchants to offer improved products shipping, introduced secure payment gateways to consumers as well as gain access to right technologies they need to market and sell online better," he said.
This year's festival is also focused on cultivating an e-shopping culture to support the e-commerce industry, raise export revenues for Malaysia and position the country as a regional hub for online retail.