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- March 31, 2023
-- GoBiz USA, a US-Based B2B platform, is transforming the supply chain model by working with Malaysian manufacturers to help them expand in the US market with an executive level Oracle NetSuite powered wholesale marketplace and business operations system. By partnering with MATRADE, a Malaysian national trade promotion agency under the Ministry of International Trade and Industry (MITI), GoBiz USA will unite and promote business for all in the American market which is growing rapidly.
The fact is, E-commerce growth, the global pandemic, and the shift in consumer buying habits have altered the retail industry significantly and suppliers, distributors, and retailers have all been impacted by these major economic changes. GoBiz was built to revolutionize how everyone involved in the supply chain does business by providing an improved B2B platform.
These US retail sub sectors are rising fast and here are some stats that prove that statement:
Online buying is one of the fastest-growing store subsectors. Online shopping's rapid rise is due to its ease, cost comparison, and fast, free delivery. US online store sales rose 32.4% to $794.50 billion in 2020. Online retail will earn $1.1 trillion by 2023.
- Home Improvement
Due to the epidemic keeping people indoors, home renovations have increased. Homeowners are renovating kitchens, adding sunrooms, and gardening to maximize their properties. House upgrades will cost $420 billion in 2020, up 8.7% from 2019.
- Health & Fitness
The health and wellness business has also grown. Consumers' greater interest in health and fitness is driving demand for products and services. Recently, healthy diet and fitness gear have become more popular. Health and wellness will be worth $6 trillion by 2025, up from $4.5 trillion in 2020.
- Personal Care
Personal care also expanded. Self-care is driving personal care product demand. The makeup industry—skincare, haircare, and cosmetics—is growing. The world beauty and personal care business will grow $716 billion from $511 billion in 2020.
- Pet Supplies
Pet products also grow. As more people get pets during the epidemic, pet food, toys, and accessories are in demand. In 2020, the global cat care business was worth $223 billion and expected to reach $358 billion by 2027.
Those in B2C and B2B retail sectors who act fast to meet consumer expectations will succeed in the future which is a primary reason that GoBiz USA has partnered with Malaysian manufacturers in the above-mentioned areas to help them stay ahead. GoBiz USA, an Oracle NetSuite-based B2B marketplace, has focused on creating partnerships with Malaysia's manufacturing sector, inspired by the country's huge potential.
Malaysia has been an industrial powerhouse in Southeast Asia for decades and keeps growing. However, manufacturers will need eCommerce platform alliances to expand into foreign markets like the US and GoBiz USA has everything Malaysian manufacturers need to accomplish this.
GoBiz USA helps Malaysian companies enter the US market in several ways:
- Market research and analysis: GoBiz USA's market research and analysis will help Malaysian producers understand the US market's competition, consumer trends, and potential.
- Business connections: GoBiz USA's vast network helps Malaysian producers find new US business partners and customers. For instance, meeting with prospects, retailers, and reps.
- Regulatory compliance: Product safety, labeling, and customs requirements are just a few of the laws GoBiz USA can help Malaysian producers understand and follow to thrive in the American market.
- Branding and marketing: GoBiz USA can help Malaysian companies launch US-specific branding and marketing efforts.
- Distribution and logistics: GoBiz USA can store, send, and deliver Malaysian products in the US.
Malaysian manufacturers can now reach American consumers through GoBiz USA's enhanced platform that was built to help businesses grow quickly with visible, measurable results.
Malaysia's manufacturing industry is expected to grow in the coming years due to ongoing investment, a skilled workforce, the country's strategic location in Southeast Asia, and the use of online B2B marketplaces like GoBiz USA with its unique advantages.
to learn how GoBiz USA can help you enter the lucrative American market.