By IZZAT RATNA
New online marketplace, PG Mall, aims to empower local entrepreneurs to promote their brands at a lower operational cost and transaction fee.
PG Mall marketing manager Tricia Loh told The Malaysian Reserve (TMR) that a lot of other leading online market places in Malaysia are predominantly exploited by international-based companies as opposed to PG Mall, which is 100% a homegrown buying and selling channel.
“Most of these established brands are minimising the capacity of local market to reach their full potential. We strive to help our local entrepreneurs to build and sell their products at a bigger scale within the online landscape.”
“We are here to help our local entities to regain their market presence in the ever evolving digital ecosystem that are now dominated by foreign players,” she told TMR on the sidelines of the PG Mall seminar in Kuala Lumpur last Friday.
Existing established online market platforms with similar business models as PG Mall are Lazada, Shopee, 11street, Zalora and Gemfive.
Loh pointed out that PG Mall, established since January this year, is targeting to increase its customer base to 1,500 daily by end of the year, in tandem with a 150% jump in daily transactions to at least RM450,000.
“We also hope to add another 5,000 merchants and 2,000 new customers on our platform by year-end, in tandem with a projected 200,000 stock keeping units (SKUs).
“Additionally, we would simultaneously be bearing at least 15% out of the merchant’s operational cost in the value chain to reach the consumers,” she added.
Currently, PG Mall has approximately over 70,000 SKUs with over 5,000 merchants, of which 70% consist mainly of local homegrown brands. Its daily volume of transactions currently stands at between RM30,000 and RM40,000.
PG Mall offers a range of products from electronics, fashion, books, home and living, food and beverages, sports and leisure, kids and baby products, health and beauty, as well as automotives.
Loh added that PG Mall is embarking on several initiatives to add multiple payment channels into its ecosystem by end of 2017, namely credit card facility — PayPal, AliPay, as well as PayNow — for its Singaporean customers.
To date, PG Mall has two functioning payment channels, Gold Cash (GC) payment and online banking.
Loh explained that GC is a mode of change for its existing 150,000 customer base that utilises their gold account.
“Our customers use gold account to pay using the GC. Normally gold is valued by gramme, therefore we put it in a denomination as a currency; one gramme is equivalent to 100 GC.
“The GC is in accordance with the value of the fixed and constantly fluctuating gold price,” Loh said.
The online shopping plat- form is operated by PG Mall Sdn Bhd and backed by Public Gold Marketing Sdn Bhd — the country’s pioneer in the metal industry with an over 150,000 customer base and 16 service centres, coupled with one service centre in Singapore and Indonesia respectively.
As a startup digital platform, PG Mall offers between 0.25% and 5% transaction fee depending on the product range with free shipping services within a stipulated timeframe, compared to its competitors that can charge up to 20% per transaction.