What Courses Should You Study If You Want to Work in eCommerce?
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The standard definition of E-commerce is a commercial transaction which is happened over the internet. Online stores like Amazon, Lazada, Zalora, Shopee, Grabfood, Mudah.my, Lelong.com, Shopify, Ebay, are examples of E-commerce websites. By 2020, global retail e-commerce can reach up to $27 Trillion. Malaysia’s e-commerce market has grown rapidly in recent years, fuelled by rising smartphone penetration and a willingness by shoppers to buy from overseas. Driven by a relatively high internet penetration rate, the e-commerce market in Malaysia is going from strength to strength and is forecast to grow at a compound annual growth rate of 24 percent a year. Furthermore, MYCYBERSALE has been very successful in catalysing the growth of the national e-commerce industry contributing RM392 million in Gross Merchandise Value (GMV) during the 7-day sales in 2019.
Ecommerce is a brilliant field to work in for various reasons: It gives entrepreneurs freedom and the ability to work anywhere, most countries have a strong ecommerce job market and a lack of skilled people, and – while some industries require years of qualifications, or a long history in the industry – working in ecommerce is open to anyone who has taken the time to build up knowledge and skills within the area.
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Top Courses that Lead you to an Exciting Career in eCommerce
Experts in eCommerce are in great demand, as businesses seek to promote their products and build and enhance brand association and engagement channels with their customers via digital platforms.
Customer experience has been a key topic on the agenda of many businesses, with social media forming a key part of a successful strategy. There is a strong demand for marketing professionals with working knowledge of key social media channels and expertise in implementing successful social media strategies.
In addition, companies improve their digital platform, data collection and analysis also play an increasingly larger role. Curating such information and drawing insightful analysis is a top priority, as employers increasingly seek marketing professionals with data science and analysis skills to assist them in data-led decision making and shape business strategies in the long run.
Since companies need to communicate with their customers during these uncertain times, there’s been a spike in demand for communications & content specialists. Employers are looking for people who can quickly adapt to a new role and assist them in getting their message across all digital platforms at this time.
Digital marketers are in significantly higher demand right now as corporations move to digital portals to find clients and potential revenue streams that will enable them to remain afloat during the crisis.
Top Courses to Study in Malaysia to Work in eCommerce
A Degree program of study in E-commerce will aim to teach students how to create and put into place methods of electronic distribution and how to manage E-commerce systems. Students in these programs should expect to study analysis and design of information systems, project management, database systems, information technologies, data mining, global E-commerce policy and evolving information technologies.
There are many, many great courses to help build ecommerce knowledge and skills.
- Digital Marketing
- Mass Communication
- International Business Management
- Business with IT
- Data Science
- Information Technology (IT)
- Software Engineering
- Cyber Security
Ecommerce has evolved in many ways since its start, and it’s changing the way we live, shop and do business.
Since the earliest days of the Internet, E-commerce – which stands for electronic commerce, or the practice of making business or commercial transactions online – has transformed product markets, according to the United States Bureau of Labor Statistics (BLS). E-commerce has changed how retailers market products and even how they price them.
E-commerce management specialists and other professionals in the field of E-commerce are the ones behind these changes, and behind every transaction that occurs in online shopping. These professionals have a wide range of job duties. They must manage the systems that allow for E-commerce, including the design, development and maintenance of those systems. To protect the security of E-commerce sites from viruses and hacking, E-commerce professionals must keep the technology they use up-to-date at all times. In addition to their information technology job duties, E-commerce management specialists may also have business job responsibilities, like calculating budges for various projects and staying on top of the costs to make sure the company stays under budget.
Ecommerce (or electronic commerce) is the buying and selling of goods (or services) on the internet. It encompasses a wide variety of data, systems, and tools for online buyers and sellers, including mobile shopping and online payment encryption.
Most businesses with an ecommerce presence use an ecommerce store and/or an ecommerce platform to conduct online marketing and sales activities and to oversee logistics and fulfillment.
For many retailers, the growth of ecommerce has expanded their brands’ reach and positively impacted their bottom lines. But for retailers who have been slow to embrace the online marketplace, the impact has been different.
Types of Ecommerce
Generally, there are six main models of ecommerce that businesses can be categorized into:
Let’s review each type of electronic commerce in a bit more detail
1. Business-to-Consumer (B2C).
B2C ecommerce encompasses transactions made between a business and a consumer. B2C is one of the most popular sales models in the ecommerce context. For example, when you buy shoes from an online shoe retailer, it’s a business-to-consumer transaction.
2. Business-to-Business (B2B).
Unlike B2C, B2B ecommerce encompasses sales made between businesses, such as a manufacturer and a wholesaler or retailer. B2B is not consumer-facing and happens only between businesses.
Business-to-business sales often focus on raw materials or products that are repackaged before being sold to customers.
3. Consumer-to-Consumer (C2C).
C2C is one of the earliest forms of ecommerce. Customer-to-customer relates to the sale of products or services between customers. This includes C2C selling relationships, such as those seen on eBay or Amazon.
4. Consumer-to-Business (C2B).
C2B reverses the traditional ecommerce model, meaning individual consumers make their products or services available for business buyers.
For example, the iStockPhoto business model in which stock photos are available online for purchase directly from different photographers.
5. Business-to-Administration (B2A).
B2A covers the transactions made between online businesses and administrations. An example would be the products and services related to legal documents, social security, etc.
6. Consumer-to-Administration (C2A).
C2A is similar to B2A, but consumers sell online products or services to an administration. C2A might include online consulting for education, online tax preparation, etc.
B2A and C2A are focused on increased efficiency within the government via the support of information technology.
Increased Demand for E-commerce in Malaysia
Entertainment aside, the spike in digital consumption can also be attributed to Malaysians making the radical shift to e-commerce, both the business owners as well as the shoppers. Between March 1 and October 31 last year, a total of 373,213 entities registered their businesses with the Companies Commission of Malaysia under the online category.
A Janio survey showed that 60 per cent of respondents have been making more purchases online as compared to pre-Covid times. prioritising essential food and household items.
Echoing that sentiment is data from online stores of supermarket chain Jaya Grocer and grocery delivery service HappyFresh. The stores saw the biggest jumps in sequential traffic in the third week of March, with activity up by a whopping 600 per cent compared to the first two weeks of the month.
Pikom (the National Tech Association of Malaysia), today expressed its belief and confidence that e-commerce is the future of the retail industry globally as well as locally.
Strong cross-border spending and delivery infrastructure key to boosting Malaysia’s e-commerce growth
Malaysia’s $4 billion e-commerce market is notable for its explosive growth in recent years. Annual sales have expanded significantly since 2015, jumping 47.8 percent in 2017 alone.14 Looking ahead, the market is expected to expand at a compound annual growth rate of 24 percent to 2021.15
Despite a four-year period of rapid growth, there is still plenty of room for the market to continue to expand. At present, just under half the population is yet to shop online, meaning there are almost 16 million as-yet untapped e-shoppers.16 The nation is also young: the average age is 28.7 years, and 44.2 percent of the population is aged 24 and under, offering a generation of tech-savvy potential customers. 17
Internet penetration, at 80.1 percent, is higher than many other south east Asian countries.18 The government has ambitions to raise this level to 90 percent, which will widen access to online shopping.19 The Malaysian government’s work to introduce frameworks for e-commerce should also support sales. The country’s National E-commerce Strategic Roadmap outlines plans to double Malaysia’s e-commerce growth rate and contribute RM211 billion to gross domestic product by 2020.20
Malaysia has three major annual national shopping events – Malaysia Super Sale (March 1-31), Malaysia Mega Sale Carnival (June 15-Aug 31) and Malaysia Year-End Sale (Nov 1-Dec 31).21 International discount shopping event Singles Day on 11 November is also increasing in popularity.22
Key online shopping categories include travel, which makes up 39 percent of the total e-commerce value, consumer electronics (17.3 percent) and furniture and household goods (13 percent).23 The top e-commerce sites are platforms Lazada, 11street and Shopee.24 Average annual basket spend, at $242, is currently lower than many of the countries included in our report series* and offers both a challenge (driving up spend) and an opportunity to merchants.25
Strong cross-border spending and growing last-mile delivery infrastructure
Cross-border spending is high in Malaysia, accounting for four out of 10 of all e-commerce transactions in the country.26 Malaysian shoppers are willing to buy from international e-commerce sites, with 48 percent having already made a purchase from overseas.27 The top three countries for cross-border sales are China (first), Singapore (second) and Japan (third).28 International retail giants are making moves to capitalize on the opportunities presented by Malaysia. Chinese conglomerate Alibaba has announced plans to create a regional distribution hub in the country.29 The company’s cofounder Jack Ma has also been named as Malaysia’s digital economy advisor.30
However, it should be noted that the Malaysian government has announced plans to introduce a digital tax for cross-border e-commerce from 2020, which could have ramifications for international sellers of digital products. While detailed information is yet to be announced, sellers of digital goods such as film, music streaming and video streaming are expected to be required to report sales and pay a levy to the Malaysian government for sales of certain goods.31
When it comes to delivery, 90 percent of Malaysians expect their purchase to be delivered within a week, and for 46 percent, delivery within three days is expected.32 International couriers are investing in their Malaysian last-mile offerings. DHL, for instance, has set up domestic last-mile delivery operations.33 Global brands including IKEA, Nestlé, Tesco, Zalora and Lazada have all recently invested in Malaysian distribution hubs in an effort to expand their e-commerce footprint in the country.34,35
Malaysians swift to adopt shopping on the go
Despite being a modestly sized e-commerce sector, at an early stage of development in comparison with major markets like the U.S. and UK, consumers have been quick to adapt to mobile commerce. Approximately 62 percent of smartphone users now use their devices to shop online.36 Shopping via mobile devices now accounts for 47 percent of all e-commerce transactions,37 and shopping via mobile devices is expected to increase at a compound annual growth rate of 31.4 percent to 2021, to reach a value of $5.6 billion.38
Citizens are using their smartphones for everyday activities such as browsing, shopping and researching, backed by the state’s efforts to ramp up digital engagement.39 Malaysia is a nation of smartphone lovers, but there is still a significant part of the population yet to own a device, with penetration currently standing at 63.9 percent.40
Apps are the primary mobile commerce sales channel, used for 64 percent of transactions, or $1.2 billion in sales in 2017.41,42 Social media is another key way to reach would-be customers. Facebook is the most popular platform, with WhatsApp, WeChat, Instagram and Twitter all also popular.43 Domestic banks offering mobile banking and payment services are also helping drive mobile commerce uptake. However, concerns persist around the level of security and customer satisfaction when shopping via mobile devices.