MALAYSIA HAS THE HIGHEST PERCENTAGE OF DIGITAL CONSUMERS IN SOUTHEAST ASIA
Turns out, Malaysians are not too shabby after all, ay?
According to a survey conducted by Bain & Company, 83% of Malaysians (above 15 years of age) are digital consumers. With 48% of the population switch to purchasing mostly online in the past year, the online groceries recorded the highest growth (2.2x) in online retail penetration in 2020 since 2018.
Yes we know, that previous paragraph is filled with too many numbers to remember. But if there’s one point that business operators should takeaway from these statistics, it is to understand the importance to go big with digital.
Understanding the way online consumption works, one of the initiative from the Digital Productivity Nexus (DPN) to help brands and business to speed up their digital journey is by introducing Digital Victory.
Digital Victory is a programme that will be an advisory support to assist businesses in their digitalisation needs and accelerate their journey in taking the digital leap.
The programme is created to reach and impact more than 500,000 businesses in the country with its offers of 1 to 1 free consultancy with business leader in technology solution, strategic positioning, business operations and financial consultation, among others
5 Ps IN DIGITAL FOR YOU TO REMEMBER
The Digital Victory is an opportunity for companies to boost the momentum for business expansion, especially in recovering from the impact of COVID-19.
To go big with digital, there are 5 Ps for business operators and owners to recognize;-
1. Promotion of digital culture
– To promote and embrace the use of digital technologies in your organization
2. Pioneer or pilot digital adoption in 3 dimensions – customer, operational efficiency and product development
– To adopt digital systems that fit the need of your customer, increase the operational efficiency and provide better product development journey
3. Proliferation and expansion of digital adoption throughout the organisation
– To make use of digital tools and systems in the organization production and processes, from A-Z. This includes digital marketing, task management system, sales reporting, human resource management, finance allocation and more
4. Protect digital infrastructure and data
– To protect and maintain the organization’s digital infrastructure and data recording
5. Prosper with breakthrough performance
- To enjoy the fruits of your labour when you transform your business digitally. Reap the
rewards of increase in revenue, production efficiency, and consumers recognition and loyalty
The world is evolving and with the economic uncertainties, Malaysian businesses must be ready to cross over to the digital world positively and embrace the progressing consumer behaviour.
As you are reading this, remember that you are contributing to Malaysia’s high digital consumer statistic, and so is your target business audience.
Learn more about how to Go BIG digitally with Digital Victory http://www.mpc.gov.my/digitalvictory/.
A webinar can also be accessed via https://www.facebook.com/MPCHQ/videos/2645282095788368/.