ShopBack Malaysia Records Over 200% Growth in 2019

ShopBack continues to experience hyper growth in Malaysia, with data indicating growth of more than 200 per cent in sales - enabled through ShopBack Malaysia last year, compared to 2018.

Carrying the momentum in 2019, e-commerce sales enabled through ShopBack Malaysia’s platform in 2020 surpassed benchmarks based on the same period last year, amid the growing popularity of smarter online shopping among Malaysians. 

shopback malaysia records over 200% growth in 2019Photo via ShopBack

ShopBack Malaysia Country General Manager, Eddy Han said, “Before the concept of cashback was popularised in online shopping, it only existed within the credit cards or offline transactions space. ShopBack launched the online rewards model in the form of cashback five years ago and is currently serving over 2.5 million users. In 2019, we experienced a remarkable increase of 150 per cent in users and over 200 per cent in sales compared to 2018. This growth was boosted by the introduction of new verticals such as Online Survey and eWallet, fuelled by our continued fruitful collaborations with our merchants.”

He also shared that ShopBack now has over 500 partner merchants in Malaysia. Popular categories among Malaysians are online marketplaces such as Shopee, Lazada and Taobao, fashion, health and beauty, ZALORA, Hermo, FashionValet and travels like Agoda, and KLOOK.

ShopBack helps users to save money. On top of discounts and incentives provided, it also enables users to earn cashback each time they perform online transactions through its website or the app. The cashback can be earned by every successful and validated transaction from the users’ bank account. 

Malaysians love getting their cashback savings, and to date, users have earned more than RM60 million worth of cashbacks. The highest accumulated cashback earnings by a single user currently stands at RM69,145.64!

“In line with our aspiration of being the first stop of online shopping, we are constantly monitoring market trends and ensuring our product, services, and offers stay relevant to our users,” said Eddy.

ShopBack web and app users can expect a couple of product enhancement this year, as they introduce an upgraded browser extension for all desktop users in conjunction with their 5th Anniversary.

shopback malaysia records over 200% growth in 2019Photo via ShopBack

The ShopBack Button is a browser extension capable of detecting websites that offer cashback through ShopBack when users search for an item. It allows users to activate cashback at the merchant’s site without going through the ShopBack Malaysia website.

The upgraded version now comes with a coupon applier function, where it will automatically scout for all available coupon codes online and apply the code with most discounts for users during checkout.

Gearing up to ShopBack Malaysia’s 5th Anniversary, Eddy also revealed a series of offers such as RM50,000 Shopping Spree Giveaway, up to 100% epic cashback vouchers, and a bonus deal exclusive to the ShopBack Button. Highlights of the upsized cashback offers include:

shopback malaysia records over 200% growth in 2019

shopback malaysia records over 200% growth in 2019Photo via ShopBack

ShopBack is projecting another bullish year in 2020, and confident of maintaining the same growth rate as 2019.

This is like being paid to go shopping, yes, please!

By: Aishah Akashah Ahadiat