Within a short span of 3 years, PG Mall, the homegrown online marketplace founded by Public Gold Group, has impressively been ranked as one of the Top 5 most visited online marketplaces in Malaysia by iPrice Insights with a total monthly site visit of 876,100 visitors as of its Q3 2019 report.
Established in 2017, PG Mall is the brainchild of Public Gold 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 investment gold and silver bullions trading, equipped with online trading facilities since 11 years ago, saw an opportunity to diversify its investment-based 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 500,000 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. This effort coincides with Malaysia’s current Prime Minister, Tun Dr. Mahathir Mohamad’s call to support and promote local goods abroad
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 on level ground with bigger and long-established players, which are mostly foreign-owned online marketplaces within the industry.
According to the Managing Director of PG Mall Sdn. Bhd., Dato’ Wira Louis Ng, “We are thrilled by the recent ranking on iPrice and to be able to get onto the Top 5 position for the highest monthly traffic visit within just 3 years of operations is definitely mind-blowing. With this, no doubt that we
are now officially a serious market contender and will continue to march on to top the chart.”
From a mere RM500,000 revenue recorded in 2017, PG Mall’s revenue expanded 10 fold 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 RM20 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
For every successful transaction made by the referred shoppers, the introducers will also receive cash back of 0.5% per transaction, up to 3.5%.
This business model aims to help create a healthy and balanced economy business ecosystem by giving everyone an opportunity to earn some 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, young or old, to own a business empire through referral under the 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’ Louis.
Drop shipping is a supply chain management method whereby retailers do not keep goods in stock but instead transfer the customer orders and shipment details to the manufacturer, another retailer, or a
wholesaler, who then ships the goods directly to the customer.
At PG Mall, apart from providing an ideal trading platform for merchants, it also offers coaching services to new entrepreneurs on board. In June 2017, PG Mall collaborated with the Malaysian Internet Entrepreneurs Association in an effort to engage more start-ups to explore the new era of eCommerce under a reliable and safe marketing platform that ultimately links them to international markets.
A few months later, it has gotten Pos Malaysia Bhd’s courier arm, Pos Laju onboard under a strategic partnership, to be 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.
Not just that, recently PG Mall has reached yet another milestone by partnering with iPrice Group Sdn Bhd, Selluseller, Boost, Involve Asia Technologies Sdn Bhd, J&T Express (M) Sdn Bhd and Easyparcel to fulfil the demands of modern-day shoppers. With these partnerships, PG Mall is looking forward to provide better shopping and trading experiences for both its shoppers and merchants.
Through iPrice, PG Mall aims to reach out to more prospective shoppers by covering bigger geographical areas, while with Boost, it enables shoppers to benefit from its attractive promotions when they shop at PG Mall.
The partnership with Selluseller on the other hand is to recruit more
Malaysian top sellers onboard, while relying on Involve Asia’s expertise to assist in meeting PG Mall’s advertising and marketing goals.
Also, to further expand its logistic network, PG Mall has collaborated with more courier companies such as J&T Express and Easyparcel to ensure shoppers’ purchases are delivered professionally and
efficiently in a safe and sound manner.
Moving forward, PG Mall is in the midst of securing more partnership deals with Grab Pay and QR Pay to further enhance its shoppers’ online shopping experience.
Since its inception, PG Mall has attracted over 10,000 merchants and 500,000 shoppers onboard with approximately 1,000,000 merchandise, consisting of mainly lifestyle products and services to cater to local, regional as well as global market.