MyCyberSale, the annual online sales festival, is expected to generate more than RM300mil in sales this year.
Held for the fourth year in a row, the event is helmed by the National ICT Association of Malaysia (Pikom) and the Malaysian Digital Economy Corporation (MDEC) via a public-private partnership initiative.
This is also the first year that Pikom will be leading the initiative, taking over from MDEC who have been organising the event since 2014.
The five-day event called MyCyberSale 2017, happening from Oct 9 to 13, will see 1,000 online merchants which includes 497 exporters and 84 enabler partners, which consists of industry players that help merchants sell online.
Among the participating merchants include 11street, Lazada, Zalora, Shopee, Lelong.my, Sengheng, Watsons, Fave and Malaysia Airlines.
Pikom deputy chairman and e-Commerce Malaysia chair Ganesh Kumar Bangah is confident that the RM300mil target this year is within reach as the e-commerce industry has grown more than 100% from last year.
Other contributing factors include the huge increase in participating online merchants which grew by more than 66% this year and the various promotional activities that have been done leading up to the event.
“MyCyberSale is an all-Malaysian initiative, for the industry by the industry,” said Ganesh, adding that the eCommerce sector is expected to contribute RM170bil to GDP (gross domestic product) by 2020.
“A lot of SMEs today are not online yet, so the objective of the MyCyberSale is not just to build consumer demand to buy online but also to generate the supply from e-commerce merchants to participate and sell online,” he added.
The event also made its way into the Malaysia Book of Records for the most number of online merchants in an online sale event.