Tell us about your recent partnership with Karangkraf and what is the rationale for both organizations coming together?
MyBazar is a company dedicated to the development and empowerment of entrepreneurs and SMEs by availing latest technology, connecting markets, and in general boosting their level of competitiveness. Our company has its foundations in United Arab Emirates, but our plan is to establish digital marketplaces in Southeast Asia, The Gulf, Central Asia and South Asia and developing markets.
“The reason we start with Malaysia is because it has a strong digital ecosystem framework and lots of government incentives to SMEs and startups.”
Especially in 2017, with the Prime Minister announcing that 2017 will be the year of SMEs and startups, and with initiatives such as the National eCommerce Strategic Roadmap, we are confident that this country will be a gateway of exciting developments in the digital marketplace space.
Our domestic strategy requires us to create a strong ecosystem not only to increase online transactions of goods and services, but most importantly to get more people, especially smaller businesses and cottage industries, into the digital space. They share with us the view that only broad-based, nation wide accelerated seller and shopper adoption of eCommerce will help propel Malaysia to the forefront of digital economy regionally and globally. As such, our partnership with Karangkraf is a natural one.
What will your partnership with Karangkraf mean for Malaysian SMEs?
E-commerce is now becoming one of the world’s fastest growing sectors and if developed properly, it can transform the future of business, economics and lives across Malaysia. MyBazar is a digital platform aiming to enable Malaysian SMEs to capitalize on e-commerce market potential.
Through this partnership between MyBazar and Karangkraf, more consumers will get access to special offers and promotions by leading merchants while on the other hand SME clients and aspiring entrepreneurs will be given tools enabling them to embrace digital economy and manage their businesses more efficiently.
Tell us about MyBazar and its offerings?
Essentially, we offer a digital marketplace for everyone and everything. This sounds cliche, but what it means is we want to bring more offline vendors online, and not to sell only merchandise and clothing, but anything of value can be sold in a marketplace. We have domestic and international strategies.
“Vibrant SME merchant- and manufacturing markets, diverse product offering at a competitive price, creates huge opportunity to put Malaysia on the digital economy world map and allows for development of job makers instead of job seekers across the nation.”
In the case of Malaysia, unlike others who focus solely on selling foreign products to Malaysians, our goal is to take local merchants and their products to international and emerging markets, thereby boosting the local economy. The Malaysian market is underrepresented in Dubai and we are keen to bring Malaysian goods to the Gulf.
You position MyBazar as enabler of SMEs. What do you exactly mean?
Traditional ecommerce is not suitable for the SMEs that are very cost sensitive with limited access to technology and related expertise. As a result, 70% of all SMEs and about 98% of all retailers are currently not taking advantage of globalized digital economy, on-line shopping and better knowledge of customers. Technology today allows us essentially to run our businesses better and easier.
MyBazar solution is designed around the needs of SMEs and specifically for those who are not capitalizing on the ecommerce potential. In addition to enabling SMEs to conduct their business with the help of technology, MyBazar is here to support them and move their business internationally.
How can Malaysian SMEs join MyBazar?
We are in the midst of working with Karangkraf to launch Digital Karnival for the first time on 3-5 March. This is great opportunity for SMEs to join MyBazar and immediately be part of the Karnival. Merchants can simply download our app from the App Store or the Google Play store and promote their best deals during the Karangkraf Karnival FLASH SALE!
In addition, we are now onboarding merchants in Malaysia to enable sales and delivery across the country and in near future allow successful merchants from Malaysia to sell directly to Middle East and other emerging markets.
What are your future plans?
With its social media integration and secure online shopping experience, MyBazar works with leading partners to revolutionize the Malaysian B2B2C e-commerce industry. Just like the physical experience of browsing, choosing and bargaining, MyBazar combines the joy of business with the joy of a good deal.
“MyBazar is all about making life better – for merchants who can expand their business without risk – and for shoppers who can find diverse products and more bargains right in their phone.”
By using the latest information technology, MyBazar is building the appropriate infrastructure that will allow Malaysian merchants to firmly embrace the new digital economy and to pursue their entrepreneurial dreams.