Homegrown online marketplace, PG Mall has ranked by iPrice Insights as the third most visited online marketplace among other foreign-owner online marketplaces in Malaysia. The site recorded a total monthly site visit of 1,688,500 visitors as of its Q1 2020 report.
“Based on iPrice’s 2019 third quarter report, we were ranked Top 5 for the highest monthly web visit among other international players of similar kind, and to be able to get onto the third position in just 6 months with an impressive increase of 812,400 total web visits, to 1,688,500 total web visits is definitely mind-blowing, especially for a homegrown brand like ours, which makes us the No.1 local eCommerce site in Malaysia. No doubt that we are now officially a serious market contender and will continue to aggressively grow to top the chart,” said managing director, Louis Ng.
PG Mall’s revenue expanded 10 folds from a mere RM 500,000 revenue in 2017 to RM 5 million in 2018. The online marketplace is expected to reach a targeted revenue of RM 100 million by year end.
It further attributed its rapid growth to an aggressive marketing strategy that relies heavily on shoppers to grow its merchant and customer base under its very own unique business concept known as ConsuMerchant.
The concept is a profit sharing plan developed to benefit PG Mall shoppers by rewarding them with cash back ranging from 0.5 percent up to 3.5 percent on every successful transaction made. It also applies for referring new shoppers onboard under PG Mall referral programme.
“For every successful transaction made by the referred shoppers, the introducers will also receive cash back of 0.5 percent per transaction, up to a maximum of 3.5 percent,” the online marketplace said in a press statement.
“Mostly we want to revolutionise shopping through our ‘Shop, Share and Earn’ mechanism. In general, people shop to buy things they need or desire and while they Shop we reward them with cash back of 0.5% per transaction. And if they enjoy shopping with us, we encourage them to Share their wonderful shopping experience with family and friends, and reward them further with more cash back up to 3.5%. The more they shop and refer, the more cash back they will Earn. It’s that simple,” explained Ng.
PG Mall has also collaborated with Pos Malaysia Bhd’s courier arm, Pos Laju under a strategic partnership as the main logistic partner in the region. This will enable the marketplace to reach out to 10 millions of online shoppers in urban areas through Pos Malaysia’s 700 outlets nationwide.
Besides its partnership with Pos Malaysia, PG Mall has also partnered with other courier services such as DHL, GDEX, Skynet, Pgeon and The Lorry among others. As for market expansion, PG Mall has partnered with leading telecommunication companies such as Maxis, Celcom and redOne.
Other partnerships have included Boost, GrabPay, Touch ‘n Go eWallet and iPay88 to ease payment process while enabling shoppers to enjoy enormous special deals from time to time.