Six months after beginning e-commerce service in Malaysia, Rakuten held its inaugural business performance update during a press conference at KL Hilton.
According to Senior Executive Officer and Director of Rakuten, Toru Shimada, Rakuten Online Shopping has experienced growth all around, in terms of merchants, 130 merchants now from 30 in the beginning, and 30% monthly average of total product growth. Member sign-ups have grown 25% month on month and online orders via Rakuten’s e-commerce platform have increased by 400%.
Besides partnering with familiar brands in the retail industry, Rakuten made significant inroads by signing up Caring Pharmacy. The chain of healthcare outlets is the first healthcare/pharmacy to venture into e-commerce in Malaysia.
Unique
Rakuten implemented a unique B2B2C model, whereby they provide the tools, knowledge and means for merchants themselves to open virtual storefronts on Rakuten’s shopping platform.
Merchants themselves sell directly to customers and Rakuten empowers them to do so, with lessons they themselves have learnt from years of e-commerce experience in Japan and other countries.
Rakuten Online Shopping CEO in Malaysia, Masaya Ueno said, “Our goal is not to be an online shopping destination, but a leading Internet service company, and contribute to the e-commerce industry. “
After a four-phased approach that has made them inroads into Asia Pacific, more specifically, Thailand, Indonesia, Taiwan and Malaysia, with an APAC headquarters set up in Singapore just last year, Rakuten intends to further drill down into a country like Malaysia, via choosing the right partners, delivering the right knowledge; via their e-commerce consultants or ECC; creating the right ecosystem, growing local offerings and empowering local retailers.
Shimada said, “Other similar e-commerce platforms invest only into logistics and warehousing, but we emphasise investing into the merchants as well.”
Growth
Besides new payment partners in Malaysia like Mastercard Masterpass, Rakuten has also launched a mobile channel.
Serious about growth and expansion, Rakuten announced a US$10 million Rakuten Asia start-up fund earlier this year, especially for new businesses in the areas of Internet content, logistics, payment solutions providers and mobility.
Shimada also shared a juicy snippet about a social shopping platform that is going to be launched soon in one APAC country.
