Joel Neoh of Fave to speak on the future of Malaysian e-commerce at Echelon Asia Summit 2018 | Digital Asia
E-commerce in Malaysia has been a vibrant scene for years and is enjoying astounding growth as more people get used to the idea of purchasing goods online.
In 2017, e-commerce officially became a billion-dollar industry with nearly half of the population buying something online, according to Statistica. It is expected to grow by nearly 18 per cent annually and in 2022 is projected to generate over US$2.5 billion dollars.
But what is happening on the ground? How have the likes of Alibaba and JD.com changed the game? How do the mid-tier e-commerce platforms navigate the big boys? What about selling services and activities via a marketplace?
We will be asking these questions and more to Joel Neoh, the Founder of Fave Group, at Echelon Asia Summit 2018. In a Fireside Chat titled, “Shaping Malaysia’s e-commerce evolution: From Groupon to Fave to payments”, Neoh will provide his unique perspective about how to take the Malaysian e-commerce scene forward.
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Fave Group evolved from the fitness-subscription service KFIT, one of Southeast Asia’s most outstanding examples of hockey-stick growth. Fave then went on to acquire the Groupon businesses in Indonesia and Malaysia (Neoh Groupon in Malaysia in 2011).
Today, Fave Group is an all-encompassing marketplace for O2O services. It sells discount coupons for all sorts of activities including restaurants, yoga studios, kids activities and travel.
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Neoh was been on-the-ground building companies since the days when “startup” was used more as a more as slander than flattery. He has seen the industry grow and change over the years and can provide a unique perspective on the challenges and opportunities ahead.
Moderated by Christopher Quek, Managing Partner at TRIVE, Echelon attendees can expect a robust discussion from two veterans who have had a first-hand view of the industry’s growth.
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