Moving forward into the year we’re expecting even more exciting things to happen in the field of startups and entrepreneurship in Malaysia.
So below, I’ve listed down some of the trends expected to happen as we prepare to face the rest of 2019 with less doubt and suspense.
Some of these predictions are more speculative than anything else, but no doubt will help you in surviving the ever competitive business market in Malaysia.
1. More Malaysian Will Use E-Wallets
There were around 36 different E-Wallets options available in Malaysia last year.
In 2019, we predict demand for the e-wallet to go even stronger, but for the number of options in the market to experience a large drop.
This is because as the market gets more competitive, only the best e-wallets will remain relevant, while the rest will just dwindle into obscurity.
To be more specific, we anticipate that there will be 3-4 major names to lead the market.
And we expect the one to end up on top to already by now have a commanding market share now.
2. Online Delivery Will Be Instant
Reports have shown that the number of people willing to wait for e-commerce deliveries is continuously dropping.
In Malaysia, we already have a good number of delivery services touting incredibly fast delivery times
This year we expect same day deliveries to become more widespread.
With so more and more online businesses the market gets more competitive.
So, it wouldn’t be
3. Rise Of Motor Sharing Services.
Last year, we’ve seen car-sharing services hit grand success and in 2019, we heavily expect motorbike sharing to become the next big thing.
In countries like the USA Vietnam and more, e-scooters have experienced warm receptions.
Many are praising its ability to help people save on costs and reduce carbon release.
Despite the positive notes, we do have concerns regarding the viability of the usage of e-scooters services in Malaysia.
Especially, on how the general public will use and treat such expensive
4. More Vertically Integrated Businesses
Many companies today want to know and have a hand in everything we do.
Take Grab in Malaysia for example.
They are into transport, food, payments and soon they are planning to expand into micro-financing and healthcare.
In 2019, we expect other companies to attempt to follow suit, because companies that deal in the exchange of information want to tighten their grasps even more.
That said, we don’t expect there to be too many success stories.
As trying to create a single app that does it all requires a large number of financial resources, labour, and the navigation of regulatory issues.
5. Influencer Marketing Will Lead Advertising
This prediction follows the ongoing trend of businesses leveraging on the social media influencers to get their marketing messages out.
In Southeast Asia this trend has entered the mainstream market.
For example, individuals with just over 1,000 followers get marketing contracts for big campaigns on platforms such as Instagram, Youtube and Facebook.
The idea behind using these so-called influencers over spokesperson is to get the advantage of speed,cost and less agile activation tendencies.
In 2019, we expect that businesses will double down on individuals with smaller but loyal follower counts to disseminate their marketing messages.
Those so far are the key things you need to take note of if you are planning to upscale your business this year.
Of course, this list isn’t comprehensive so if you have any predictions of your own, drop them in the comments section below so we can see what we missed out!
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