21. Sabah eCommerce industry presents new opportunities for growth
Sabah, a state in Malaysia, has been seeing a steady growth in its eCommerce industry in recent years, presenting new opportunities for businesses and entrepreneurs.
According to a report by the Malaysia Digital Economy Corporation (MDEC), the eCommerce market in Malaysia is expected to hit RM114 billion by 2024, and Sabah is no exception to this trend. With a population of over 3.8 million and a growing middle class, Sabah presents a lucrative market for eCommerce businesses.
One driver of eCommerce growth in Sabah is the increasing adoption of digital technologies and online shopping platforms. More and more people are turning to the convenience and accessibility of online shopping, especially during the COVID-19 pandemic, which has accelerated the shift towards eCommerce.
In addition, the state government has also been actively promoting the development of the eCommerce industry. For instance, the Sabah Ministry of Industrial Development recently launched the Sabah eCommerce Gateway (SECG), an online platform that provides access to local eCommerce service providers and resources.
The SECG aims to help businesses and entrepreneurs in Sabah to build and grow their online presence, as well as connect them with customers both locally and globally. This is crucial in expanding the reach and impact of Sabah’s eCommerce industry.
Furthermore, Sabah also offers unique opportunities for eCommerce businesses to tap into its rich cultural and natural resources. Sabah has a diverse culture and rich heritage, which can be leveraged to create unique and authentic products that appeal to both local and international customers.
For instance, Sabah is known for its handicrafts, traditional costumes, and cultural festivals, which can be marketed and sold online. Additionally, Sabah’s natural beauty, including its rainforests, wildlife, and beaches, can also be utilized to create eco-friendly and sustainable eCommerce products.
In conclusion, the eCommerce industry in Sabah is poised for growth and presents new opportunities for businesses and entrepreneurs. With the support of the government, access to digital technologies and online platforms, and unique cultural and natural resources, there has never been a better time to invest in the Sabah eCommerce market.