Indonesian e-commerce service company Jet Commerce to enter Malaysia

Oliver Yang, the company's founder and CEO , said Malaysia's e-commerce industry is growing rapidly, making it an important market for the company.

According to a report by JPMorgan Chase, the annual compound growth rate of Malaysia's e-commerce industry is expected to reach 17% from 2020 to 2023.

Additionally, the Malaysian government will prioritize the development of e-commerce as part of its national economic recovery plan, which includes a $33 million investment.

A report jointly released by Google, Temasek and Bain also showed that the total merchandise value of e-commerce in Malaysia reached US$6 billion in 2020, and is expected to more than double to US$13 billion by 2025.

It is reported that Jet Commerce was founded in 2017 and provides e-commerce companies with services such as logistics, order processing, returns and packaging customization. It also provides digital marketing through its e-commerce channels. The company has operations in Thailand, Vietnam, the Philippines and China.

Jet Commerce relies on local talent to strengthen its presence in foreign markets, including Malaysia. By understanding the unique shopping behaviors of each market, the company can develop effective marketing strategies for its clients.

In 2020, Jet Commerce's transaction value in China (200%), Thailand (700%), the Philippines (1500%) and Vietnam (280%) all increased significantly compared to 2019, and transaction volume also increased, namely China (400%), Thailand (450%), the Philippines (1400%) and Vietnam (350%) .

Seeing the huge potential of the Malaysian e-commerce market, Jet Commerce has been laying the foundation for its Malaysian expansion since 2019. The company has established partnerships with various e-commerce platforms in the country, such as Akulaku, Shopee, and Lazada, and Jet Commerce manages the operational efficiency of its brand customers in collaborative activities with these platforms.

Yang said that since expanding to multiple countries, the company's business has shown strong performance even during the COVID-19 pandemic.

Jet Commerce is leveraging its success to make many new arrangements . It plans to optimize business operation efficiency in various ways by optimizing IT systems and integrating the entire network, and plans to launch some of the latest innovative technologies this year.

However, considering that more brands will use e-commerce as their main sales channel in the near future, the competition may become more intense .

Cross-border e-commerce market

Southeast Asia