As market confidence returns with the opening of more sectors and Malaysians slowly starting to venture out again, local lifestyle ecommerce brand Oxwhite which operates an online platform offering fashion attires, is optimistic that it can reach a 130% increase in revenue by end this year.
In 2020, the site recorded a RM15 mil revenue despite the pandemic this has been inline with the demand for local goods is gaining traction. According to a Locals for Lokal consumer sentiment study involving 3,030 Malaysians, 78.1% of the respondents said that their trust in local brands had increased over the years.
The study conducted together with another Malaysian brand Tanamera, also indicated that 54.2% of the respondents are ready to pay a higher price for a product if the product quality is better than its foreign counterparts.
Oxwhite is focused in bringing premium quality lifestyle products at affordable prices and aims to create better value for our customers through various promotion. It was also noted that more than half of the respondents said they would choose to support a local brand even though a product is priced higher than a foreign counterpart if the quality is better, when asked for the reasons to support local brands, price is still the top reason (87.4%).
This is followed closely by quality (84.5%) and to support the local economy (66.1%).
Moving forward, the platform will be leveraging on seasonal promotions as these are expected by customers who have been accustomed for bargain goods. “We hope that by offering such attractive deals to customers at a time when the support for local brand is high, we will be able to contribute to the greater cause of maintaining trust of Malaysians in local brands and eventually benefit the local industry,” said CK Changr founder of Oxwhite.
