Bloom & grow

• Malaysia’s e-commerce market is expected to reach US$18.31B by 2028. This presents new startups with many opportunities, yet it’s a competitive market as consumers are spoilt for choice. So, where should a budding entrepreneur start, and more importantly, how do they grow their brand?
• Penny Choo, Co-founder & Managing Director of 500-backed e-gifting platform BloomThis, shares her top lessons building the brand:
  • Brands must sell across online platforms, and actively engage with content creators to market, promote, and sell their products.
  • The more sales channels you have, the better. “If your table only has one leg then it’s not stable,” she said. “Don’t discount the efforts of building other legs because you might need it before you know it.”
  • Between growth or profitability, BloomThis did not compromise on either. They focused on business and organizational development, and Penny credited much of this to the brand’s mission of serving customers. “We need to pour our energies into serving the customers well, not so much on investors,” she explained.
  • Despite selling non-essential products, understanding their target audience has helped them thrive.
  • Adapting to changes in e-commerce trends and consumer behavior is essential; for example, buy now pay later (BNPL). “If that’s the behaviour of how people want to shop these days then we should embrace it instead of resisting. Because it’s still an avenue for your revenue,” Penny said.
• Get the full story on Vulcan Post.

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