KUALA LUMPUR, July 23 (Bernama) — Asia’s leading buy now pay later (BNPL) brand Atome announced today that its order volume in Malaysia has grown by 100X in the first half of the year, following rapid demand for its flexible payment option.
The company also announced that its online and offline merchant network has grown to serve more than 500 retailers today, a 500% increase from when it first launched in Malaysia at the end of 2020.
The rapid growth of the company comes against the backdrop of the Covid-19 pandemic and the extension of the movement control order (MCO) which has seen local retailers struggle.
For retailers, especially SMEs, Atome improves their cash flow and online sales growth and also increases their average ticket order size. Retailers have experienced an average 17% increase in ticket order size since adding Atome as a payment checkout option.
Eddie Lee, CEO of Love18C Sdn Bhd, a homegrown maker of premium, high-quality chocolates which operates e-commerce channels and 3 outlets in Malaysia, said “Since we partnered with Atome and through joint marketing, nearly 15-20% of our transactions are through Atome, which is a really good result. We also observe that our ticket size increased from an average of RM50 to RM80-100, an almost 100% growth while our e-commerce conversion rose by 10% too.”
From January to June this year, Atome’s order volume grew 100X as it held ‘Get Raya Ready’, ‘Get It Week’ and most recently, the ‘Happy From Home’ shopping campaigns to support local retailers and help consumers shop safely and responsibly from home. 95% of orders came from online channels such as merchants’ e-commerce websites or mobile apps. For example, Atome’s recent ‘Get It Week’ campaign, which saw over 50 retailers such as ZALORA, ALDO and SASA taking part, led to a 32% sales uplift over a four-week period.
“Our partnership with Atome in Malaysia for the past 3 months has been very positive and timely as we mitigate the challenges from Covid-19 and the MCO. Atome helps to drive traffic to our website and makes up 15% of our online purchases. We also work with Atome on joint marketing campaigns, such as the ‘Get It Week’ campaign, which really helps to drive BNPL conversion by 30% for our online store,” said Ailin Chan, Marketing Manager, ALDO Malaysia, a leading fashion footwear and accessories brand.
Atome launched in Malaysia in the last quarter of 2020 with over 100 merchant partners. It has since grown its merchant network to include familiar local brands such as Amazin’ Graze, Box Of Bricks (LEGO reseller), XIXILI, Li-Ning, SHEIN, Stream Empire Holdings, The Marathon Shop, Machines, and Switch (Apple premium resellers). These new brands join a group of retail partners that include ZALORA, Agoda, ALDO and Hush Puppies across key verticals such as beauty, fashion, travel, homeware and lifestyle.
Trasy Lou Walsh, General Manager of Atome Singapore and Malaysia said: “Atome’s strong growth in Malaysia speaks to the value that we are delivering, helping merchants grow their business, driving new leads and sales amid these challenging times. At the same time, Atome also provides consumers with zero-interest payment flexibility to help budget their spend and purchases responsibly over time. We have more exciting plans to further support our merchant partners, such as the launch of our Atome+ rewards program, which also rewards consumers even as they shop smarter and better with our merchant network.”
Atome also recently partnered with Pine Labs Malaysia toLabs Malaysia to boost retail business growth by enabling quicker, smoother