As the Covid-19 pandemic continues, one industry that has seen a boom globally is eCommerce. As online shopping turns to be the “new norm”, looking at the data as to how people are spending money becomes an integral part of understanding the current climate we’re in.
The Commerce.Asia Group of Companies, an eCommerce ecosystem of technology and big data solutions, saw a surge of 149% year-on-year Gross Merchandise Volume (GMV) growth in the first quarter since the Movement Control Order (MCO) was introduced. According to Commerce.Asia Founder and Executive Chairman Ganesh Kumar Bangah, eCommerce continues to be one of few industries that would thrive in such challenging circumstances.
Ganesh added that, despite the pandemic, Commerce.Asia’s ecosystem is seeing a very encouraging spike in this first quarter of the year.
“We are seeing significant growth in our merchants’ sales across various product categories. While some were practical purchases of essential items, other purchases were complete surprises to us given that the country is undergoing MCO. This change in buying behaviour shows that Malaysians are adapting to the new living situations”, added Ganesh.
“We foresee a permanent change in consumer behaviour with many opting to make their purchases via digital marketplaces even after the MCO is lifted,” he further said.
That being said, with the increasing number of people buying online during the MCO, a question comes to mind. What are Malaysians really buying online?
To answer this question, Commerce.Asia leveraged its database to analyse sales trends (30 days of MCO vs 30 days before MCO) across their merchants and compiled a list of the fastest growing eCommerce product categories with some pretty interesting results.
Unsurprisingly, consumers’ purchasing behvaiour has taken a different curve after the MCO’s implementation. One obvious commodity that’s seen growth, are latex gloves which saw a 888 percent increase in sales as people try to protect themselves from the coronavirus.
There was also a spike in other essentials such as food, toiletries and baby products, but the fastest growing product transacted during the MCO: Ladies underwear. Ladies underwear saw an increase of a staggering 909 percent in sales, which to me, is baffling. WHY?? Why are so many Malaysians buying SO MUCH ladies underwear??
Maybe, this will be a question I will never have an answer to. But seeing the stats, I really wonder if ladies underwear constitutes such high sales numbers. What’s wrong with the underwear you have at home? Has it somehow worn out? No one’s going to see it because you’re at home, so why? Why are you wearing underwear at home?
So many questions, so little time.