Malaysia's economy is on the path of recovery with a projected rebound of 6.5% to 7.5%* in 2021, the journey is expected to be uneven and dependent on the resurgence of Covid-19 cases. Shopee will launching their 12.12 Birthday Sale as well as announced several measures alongside brick-and-mortar businesses, charitable organisations as well as consumers that are integral to the vigour of Malaysia’s economy.
According to UOB Malaysia Senior Economist Julia Goh, much work is needed as the economy suffered projected losses amounting up to RM67bn* as a result of the EMCO and CMCO. Weak demand and tight liquidity have caused businesses to either permanently or temporarily cease operations. It was understood that the Food and Beverage (F&B) sector had cut 35% of its workforce during the MCO in March**.
Goh added, "Private consumption will continue to be the key driver of growth in 2021, accounting for up to 60%* of Malaysia's GDP. Therefore, offline retail and service sectors must find ways to thrive in a post-pandemic environment whereby higher unemployment levels may spiral into weaker purchasing power. One way is for businesses to integrate offline and online strategies to cope with the changes brought about by the new norm and tap onto the growing potential of the digital economy. E-commerce's contribution to GDP grew from RM89bn in 2015 to RM127bn or 8.4%* of GDP in 2019. While the contribution of online retail sales to overall sales is still small, it has room for strong growth."
As such, Shopee had taken the lead to onboard more than 1,000 traditionally brick-and-mortar businesses. Together with malls, cinemas, F&B outlets, petrol stations, beauty salons, and more across the country, they are looking at strengthening the ecosystem and forging ahead despite economic headwinds. Shopee also announced new and upcoming partnerships in conjunction with its 12.12 Birthday Sale with partners like:
Shopping Malls: Lot10, Quill City Mall, and Tropicana Gardens Mall in Kuala Lumpur; Gurney Paragon Mall in Penang, and The Spring Mall in Sarawak
Cinemas: TGV Cinemas and MBO Cinemas
Retail/Grocer: FamilyMart, Padini, Pandora, Mydin, Caring
F&B: Starbucks, Coca-Cola, Gong Cha, Kenny Rogers Roasters, Tealive
The partnership will see Shopee using its strength to instantly engage with consumers online and encourage the purchase of products, merchandise, attractive set deals and cash vouchers. Shopee Malaysia’s Head of Seller Management, Zed Li said, “We asked ourselves what we could do to contribute towards business continuity of traditionally offline players, and saw the opportunity to convert our high traffic into footfall for them. Additionally, consumers can also do their part in helping their favourite establishments maintain steadier cash flow by buying their deals online ahead of their visit to the stores.”
Li added, “Remaining resilient on our own at a time of crisis is not sustainable in the long run. All industries need to break the boundaries and join forces to protect the future of Malaysia’s economy and wellbeing of its people.”
Shopee will continue to support the business community, be it large outfits or micro traders with seller incentives and e-commerce education such as the recently-launched 12.12 Free E-commerce Workshops on digital literacy, ways to boost sales and exposure during campaigns and more.
To know more about Shopee 12.12 Birthday Sale at https://shopee.com.my/m/12-12.