Go for digital, e-commerce model, entrepreneurs told
Entrepreneurs are urged to adapt to the latest technologies and take the necessary steps to transition towards a digital or e-commerce model.
Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar said in view of the Covid19 pandemic situation that had yet to subside, business operators could no longer just depend on the traditional way of operating.
“To be successful, an entrepreneur must be courageous, dynamic and always ready to make the appropriate changes to adapt to various circumstances.
“I understand that many may not be comfortable about making such a transition. Nonetheless, it is important in ensuring the sustainability of their business amidst current uncertainties,” he said at the closing ceremony of his ministry’s Hari Raya Cheap Sale Bazaar here yesterday.
According to a survey conducted by the Ministry of Entrepreneur Development and Cooperatives (Medac), more local consumers are becoming accustomed to purchasing online.
The minister said 57.74 per cent of the 2,888 survey respondents said they were shopping more online following the second round of Movement Control Order (MCO 2.0), from Feb 24 to March 5, compared with only 19.23 per cent previously.
Furthermore, 62 per cent of the respondents said they preferred online transactions now to cash transactions.
“The findings of the survey clearly show the change in trend whereby consumers are becoming more tech-savvy and more inclined towards e-commerce. Especially now that we are once again placed under the MCO, more consumers are spending time surfing the Internet and becoming accustomed to making online purchases.
“Like it or not, e-commerce is the future. As such, entrepreneurs need to make sure that they have a strong digital presence so customers can easily search for your products and services online,” he added.
On the four-day Medac Raya Cheap Sale Bazaar held in Precinct 2 here, Wan Junaidi told reporters that since it kicked off on May 6, it had recorded physical sales of RM114,877 and online sales of RM2,000.
This was Medac’s first-ever hybrid bazaar, enabling business owners to sell their products physically as well as online via ‘WarongKu’ and ‘Jimatbiz’ e-market platforms.
“As the country grapples with the Covid-19 pandemic, the hybrid bazaar concept also reflects the success of entrepreneurs, cooperatives and purchasers in adapting to the current situation,” he said.
Fifty-seven entrepreneurs, cooperatives and food truck operators took part in the bazaar, selling products such as rice, cooking oil, flour, sugar, and apparel.
The bazaar was implemented with the cooperation among Medac agencies, including the Malaysia Cooperative Societies Commission, Cooperative Institute of Malaysia, Perbadanan Nasional Bhd and UDA Holdings Bhd.