MDEC urges Malaysian micro, small and medium enterprises to adopt e-commerce to weather economic upheavals

MDEC director of e-commerce Song Hock Koon said as the country looked towards recovery from the pandemic, MSMEs need to learn how to adapt in the challenging times in order to not only survive but also thrive in 2020 and beyond. — IStock pic
MDEC director of e-commerce Song Hock Koon said as the country looked towards recovery from the pandemic, MSMEs need to learn how to adapt in the challenging times in order to not only survive but also thrive in 2020 and beyond. — IStock pic

KUALA LUMPUR, Oct 23 — The Covid-19 pandemic is not the first nor will it be the last major disruption to business but by adopting e-commerce, micro, small and medium enterprises (MSMEs) and local entrepreneurs can better weather any economic upheaval and come out unscathed.

Malaysia Digital Economy Corporation (MDEC) director of e-commerce Song Hock Koon said as the country looked towards recovery from the pandemic, MSMEs need to learn how to adapt in the challenging times in order to not only survive but also thrive in 2020 and beyond.

“Adoption may have been the first step, but the time has come for local MSMEs to realise the full potential that e-commerce has to offer.

“The immediate benefit of embracing the online channel is an increase in reach. Retailers can access customers anywhere in the world instead of just relying on a network of physical stores,” he said in a statement today.

Song said following the incredible success of Amazon in the United States, marketplaces all over the world have seen an explosion over the last decade, and similarly players like Lazada and Shopee in Southeast Asia were opening doors to consumers worldwide.

While paving the way for local MSMEs towards economic recovery through the short-term National Economic Recovery Plan’s (Penjana) e-commerce initiatives, MDEC remains steadfast in increasing local MSMEs’ e-commerce adoption, widen their market reach domestically and enable them to tap into the export market effortlessly, he noted.

“To facilitate cross-border e-commerce, MDEC’s Go-e-Commerce initiative provides various programmes for MSMEs to extend their reach into lucrative markets, enhance online marketing capabilities and strengthen their supply chain,” said Song.

He added that online marketing through social and digital platforms were also an affordable alternative for MSMEs, which often do not have large marketing budgets as digital marketing enables digitally-powered businesses to precisely target customers based on their preferences and interests.

“For MSMEs that provide niche products or services, digital marketing is a cost-effective solution that increases the likelihood of sales,” said Song. — Bernama

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