UCSI Group Holdings Sdn Bhd has delved into the realm of e-commerce with the launch of UniComms-eMall on February 15, 2017.
The new online shopping portal, accessible by visiting www.unicomms-emall.com, is operated by UniComms International, an independent private entity owned by UCSI – a conglomerate that is best known for its acclaimed 31-year track record in education.
UniComms-eMall CEO Brendan Lanza said that the portal would employ a B2B2C model, empowering consumers and businesses with greater flexibility when it comes to making online purchases.
"The first differentiating factor you'll see at UniComms-eMall is the facilitation of sales and purchases in bulk," he said. "This is an uncommon feature for many of the current online malls and we believe that it's a powerful tool that encourages B2B engagement, particularly amongst SMEs.
"As for B2C operations, we focus on enhancing the customer experience when it comes to the ease of buying and selling products, low pricing, the assurance of genuine items and speedy delivery."
He added that UniComms-eMall is actively seeking to expand its portfolio of brands with more large-sized and medium-sized merchants and many more items would be added in the near future.
At press time, the new online mall has more than 100 brands and thousands of products ranging from electronics, fashion, beauty, health, home and living, among others.
Lanza added that UniComms-eMall would have a gestation period of two years or less and he was targeting at least 2,000 vendors by mid-2018.
"While some existing players have already made a name for themselves in the market, e-commerce has much potential for growth in Malaysia and the region," he said.
"It's always good for customers to have more options when it comes to online shopping and UniComms-eMall will work to provide greater value to the consumer as we scale ourselves over the next two years. Exciting times lie ahead."
Data from the International Trade and Industry Ministry projects that Malaysia's B2C e-commerce landscape will grow to US$3.4bil (RM15.1 bil) by 2020 – achieving a compound annual growth rate (CAGR) of 11% or more.1
This comes on the back of a 31% CAGR increase from 2010 to 2014.2 Malaysia's online user penetration currently stands at 65.7% and is expected to reach 76.8% in 2021.3
Currently, e-commerce contributes slightly over 2% of Malaysia's total retail market, leaving it with much potential for growth.
The launch of UniComms-eMall sees UCSI expanding its footprint in the Malaysian economy, following successful operations in education, consulting, hotels, healthcare, property and technology.