KUALA LUMPUR: Homegrown lifestyle e-commerce brand Oxwhite is optimistic to see a 130 per cent increase in revenue this year, given the increase in support for local brands among Malaysians.
Last year, the e-commerce platform recorded a RM15 million revenue despite the pandemic.
According to a recent Oxwhite sentiment study involving 3,030 Malaysians, 78.1 per cent of respondents said their trust in local brands has increased over time.
The study conducted together with another Malaysian brand Tanamera, also indicated that 54.2 per cent of the respondents are ready to pay a higher price for a product if the product quality is better than its foreign counterparts.
"As a brand owner, this finding delights us. However, at Oxwhite, we stand by our brand the commitment to helping Malaysians look good and feel good affordably.
"This means that we will continue to bring Malaysian premium quality lifestyle products at affordable prices and will continue to create better value for our customers through various promotions," said Oxwhite founder CK Changr in a statement today.
He said although more than half of the respondents said they would choose to support a local brand, 87.4 per cent of the respondents said price is still the top reason for the consideration.
This is followed closely by quality (84.5 per cent) and supports the local economy (66.1 per cent).
Changr said that given that online shoppers had been trained to be on the lookout for various year-end e-commerce double digits sales, the e-commerce brand would be leveraging on these seasons to speak to Malaysians about the quality and value that a Malaysian brand can bring to the table.
"We will be doing this by offering attractive discounts and free shipping to attract more new customers, and the effort is currently ongoing with the recent 9.9 Deals that started on September 1.
"We hope that by offering such attractive deals to customers when the support for local brand is high, we will be able to contribute to the greater cause of maintaining the trust of Malaysians in local brands and eventually benefit the local industry," Changr said.
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