A recent development in the Malaysian E-commerce sector has garnered a great buzz. The E-commerce giants Alibaba have been in the centre of many recent developments in the E-commerce sector of South East Asia and this one is also inspired by them too. Alibaba has ventured into a collaboration with the Taobao Selection Stores to open a 5000sqft physical store in the Kuala Lumpur which is the first in the region.
Taobao has planned to open this store in the Viva Home Shopping Mall with the support of local operator Lumahgo and furniture brand Lorenzo. The statement by the local collaborative partners said that they would be trying to evolve a new retail system which would specifically focus on the Malaysian consumers. They also expressed hope in bringing out the best of retail technologies to improve the customer experience and give them the desired satisfaction with the services.
The present time might be a really early stage to evaluate the possible outcomes of this venture. The rising influence of E-commerce has no doubt been the major motivation behind this new startup but there is scepticism too about feasibility and tangibility of furniture being sold online. At present time, only a mere 2% of the overall furniture market is being purchased online in spite of focused efforts of few startups in the same when the E-commerce was hitting new heights of success.,