Malaysia's e-commerce

I would like to share with you the article I read on " Phoning it in...Malaysia's m-commerce explodes" by Oxford Business Group, Malaysia Business, Nov 1-15 2012, pp 38 &39.

Here are the points that I picked up:

" Malaysia's e-commerce market isevolving as it grows, with transactions made on mobile devices accounting for an increasing share of overall revenues.

The development has the potential to disrupt both traditional retail and e-commerce players...

According to a 2012 study by Pay Pal conducted by ...Nielsen, mobile commerce spending quadrupled in 2011, growing by 370% feom RM101 million in 2010 to RM467 million last year.

This represented 23.7% of total e-commerce sales which grew just 9% from RM1.8 billion in 2010 to RM1.97 billion in 2011.

The rapid growth in m-commerce (mobile commerce) speaks to several trends: increased adoption of smartphones, wider availability and faster speeds for data networks, and growing awareness by retailers of the mobile web's potential.

...smatphone penetration in Malaysia has seen growth paralleling the rise of mobile commerce...

...more than 79% are planning to replace their phones in the next six months..to smartphones.

Next generation technology is on its way:4G LTE networkswill go live in early 2013 (from the existing 3G internet access)

Malaysia scored highly on regulation, the availability of financial productsand technology environment, but low on factors like consumer readiness and mobile commerce organisation..."

The rest...for those studying digital commerce, especially, I insist that you read in full this important article, particularly on the security issues.

Pak Din