Within a short span of 3 years, PG Mall, the homegrown online marketplace founded by Public Gold Group (commonly known as PG Group), has impressively ranked 3rd most visited online marketplace among other foreign-owned online marketplaces in Malaysia, by iPrice Insights with a total monthly site visit of 1,688,500 visitors as of its Q1 2020 report.
Established in 2017, PG Mall is the brainchild of PG Group Founder and Executive Chairman, Dato’ Wira Louis Ng Chun Hau, who aspires to grow and push homegrown brands to global frontier under a unique Sharing Economy business model. In view of the evolution of internet over the last decade and rapid growth in eCommerce in the recent years, Public Gold which specializes in physical gold and silver bullions trading, equipped with online trading facilities since 12 years ago, saw an opportunity to diversify its gold & silver products, to venture into consumer goods trading under PG Mall Sdn. Bhd.
PG Mall’s strength as a newly founded local eCommerce site is in its shared customer base with Public Gold that has more than 1,000,000 customers (and still growing) across South East Asia (SEA). As part of its preliminary marketing goals, PG Mall aims to bridge its local merchants to regional SEA markets, followed by global venture in the near future to boost and accelerate the local economy.
Despite it being a fairly new player in the industry, PG Mall saw an impressive revenue growth in its initial startup years, and true enough, within just a short span of 3 years since its establishment, it has won over a substantial market share to compete with bigger and long-established international players within the ecommerce industry.
According to the Managing Director of PG Mall Sdn. Bhd., Dato’ Wira Louis Ng,
“We are thrilled by the recent ranking on iPrice. Based on iPrice’s 2019 third quarter report, we were ranked Top 5 for the highest monthly web visit among other international players of similar kind, and to be able to get onto the third position in just 6 months with an impressive increase of 812,400 total web visits, to 1,688,500 total web visits is definitely mind-blowing, especially for a homegrown brand like ours, which makes us the No.1 local eCommerce site in Malaysia. No doubt that we are now officially a serious market contender and will continue to aggressively grow to top the chart.”
From a mere RM500,000 revenue recorded in 2017, PG Mall’s revenue expanded 10 folds in the following year to RM5 million in 2018. With the exceptional growth seen to date, PG Mall is set to reach a targeted revenue of RM100 million by year end.
PG Mall’s rapid growth is made possible through an aggressive marketing strategy that relies heavily on shoppers to grow its merchant and customer base under its very own unique business concept known as ConsuMerchant.
The ConsuMerchant concept is basically a profit sharing plan developed to benefit PG Mall shoppers by rewarding them with cash back ranging from 0.5% up to 3.5% on every successful transaction made. This concept also applies for referring new shoppers onboard under PG Mall referral programme. For every successful transaction made by the referred shoppers, the introducers will also receive cash back of 0.5% per transaction, up to a maximum of 3.5%.
This business model aims to help create a healthy and balanced economy business ecosystem by giving everyone an opportunity to earn legitimate incomes and build a permanent business empire with PG Mall. The brand believes shoppers are the value creators for the whole economy chain, for every goods must have a buyer in order for it (goods) to be valuable within the supply and demand economy ecosystem.
“Our business model enables anyone at any age, to own a business empire through referral under our ConsuMerchant concept and drop shipping method, without needing to master any business skills. Mostly we want to revolutionise shopping through our ‘Shop, Share and Earn’ mechanism. In general, people shop to buy things they need or desire and while they Shop we reward them with cash back of 0.5% per transaction. And if they enjoy shopping with us, we encourage them to Share their wonderful shopping experience with family and friends, and reward them further with more cash back up to 3.5%. The more they shop and refer, the more cash back they will Earn. It’s that simple,” explained Dato’ Wira Louis.
To enhance its shipping facilities, PG Mall has collaborated with Pos Malaysia Bhd’s courier arm, Pos Laju under a strategic partnership, as the main logistic partner in the region. This enables PG Mall to reach out to millions of online shoppers in urban areas through Pos Malaysia’s 700 outlets nationwide.
Apart from Pos Laju, PG Mall also partners with many other renowned courier service providers such as DHL, GDEX, Skynet, ABX Express, J&T Express, Easy Parcel, Pgeon, The Lorry and CJ Century for the betterment of the logistic industry because PG Mall believes that the logistic industry in Malaysia is growing in tandem with eCommerce and getting more competitive by the day. Therefore, they deserve the support from eCommerce company like PG Mall to grow hand in hand to reach its full potential.
Not just that, PG Mall has collaborated with iPrice Group, Selluseller, and Involve Asia Technologies to adapt to the increasing demands of modern-day shoppers. Through these collaborations, they are able to share their marketing expertise with PG Mall. Also, for market expansion, PG Mall partners with leading telecommunication companies in Malaysia such as Maxis, Celcom and redOne to reach out to wider market.
To enhance shoppers’ online shopping experience, especially in the recent months with the increase in online shopping activities during the recent Movement Control Order (MCO) and ongoing Conditional Movement Control Order (CMCO) in battling the current Covid-19 pandemic, PG Mall has collaborated with major digital payment service providers in Malaysia namely Boost, GrabPay, Touch ‘n Go eWallet, Maybank QR Pay, iPay88, MCash and kiplepay to ease payment process while enabling shoppers to enjoy enormous special deals from time to time. PG Mall is the only ecommerce platform that integrates all major eWallet services in Malaysia for the convenience of its shoppers.
Since its inception, PG Mall has attracted over 10,000 merchants and 1,000,000 shoppers onboard with approximately 1,000,000 merchandise, consisting of mainly lifestyle products and services to cater to local and regional markets.