Kuala Lumpur – PopWonders, an e-commerce specializing in product and service subscription has launched its platform in Malaysia.
The subscription model is already a growing retail fad in the country and PopWonders aspire to prop up the trend to ultimately offer an online marketplace that would help SMEs build recurring revenue.
The platform’s subscription business model is built around monthly boxes, where boxes are curated to comprise a number of items from a certain brand, one that isn’t limited to products, but goes for services too, said the company.
The company explained in a press statement that it chose to go away with the quintessential online marketplace, as in such transaction type where only a one-timer purchase comes through, a stream of revenue for an SME is often rendered far-fetch.
“Instead of focusing to close ‘the deal’ on an individual sale with a big profit margin, [our] founder Sean Leong wants merchants to secure dependable recurring revenues through building good relationships with [the] clientele,” stated PopWonders.
Aside from its main value proposition, businesses that list their products are given a backend system for free. The platform automates subscription processing and transactions for online merchants. On top of that, the platform is also said to provide services such as inventory management and shipping tools, brand-building assistance via influencer marketing as well as hybrid AI chatbot, and in-depth data analytics.
Leong said, “Our platform only requires the sellers to be experts on their product and service, then we will handle the rest for them. It allows anyone to sell anything online and market fast without setting their own platform, at the same time, ensure sales are ‘closed’ by [a] subscription business model.”
Leong also shared that the company will soon launch a “Subscription Academy” to guide merchants on how to start a subscription-based business.
“We want to help small business owners who are affected by the COVID-19 pandemic to expand their customer base online and generate more revenues in the future. This academy will provide the necessary knowledge and skills for these merchants on building a more sustainable business plan with the right tools and features we offer on PopWonders,” said Leong.