Kuala Lumpur – Malaysia’s consumers voted for their most trusted online businesses that participated in TrustedCompany.com’s month-long competition. The winners were awarded at last Friday night’s Trust Award Malaysia 2014, hosted by TrustedCompany.com.
Why was this event that important for Malaysia? Emerging e-commerce markets face a lack of transparency that creates distrust from online consumers. Malaysians are forced to purchase products and services without being able to judge the reliability, quality, legitimacy, and transaction security.
As South East Asia’s largest online review platform TrustedCompany.com (http://trustedcompany.com/my) bridges the trust gap between consumers and online companies by helping customers to identify reputable online businesses. Consumers have the chance to write about their online shopping experiences and share their feedback on TrustedCompany.com’s independent platform. ”We as TrustedCompany want to help reduce barriers between online businesses and consumers by providing a reliable and independent platform and act as a bridge. Currently, we are the only ones pursuing this goal in emerging markets ranging from SEA to India and Latin America”, says Co-Founder and Managing Director Philip Knuth.

Last Friday August 22, 2014, the final event of the first Trust Award Malaysia 2014 took place in Malaysia’s capital, where the top 10 ranked participating online businesses were announced and awarded. TrustedCompany.com’s Co-Founders, senior management and investors, media as well as many of the top 20 ranked online companies were participating in an event held at The Canvas in Petaling Jaya.

Philip Knuth’s opening words were followed by a speech held by myiMart COO Francis Chin, winner of the honorary award for most engaging company during the competition “TrustedCompany.com offers our customers an open platform to provide us feedback, which gives us the chance to continuously learn from each other to celebrate what is right and discover opportunities for improvement”, said Francis Chin. “Ultimately it is about better retention and better conversion”, he added.

Winner with the best position in the live ranking was Malaysia’s online furniture shop Ethnicraft-online.com.my, stating “the Trust Award Malaysia 2014 was a great event to kick start the concept of customer review platforms in Malaysia”.
The 2nd prize went to Onesimplegown.com, an online shop for wedding wear and Amplified Armature Sdn Bhd., the online personal audio gear reseller, won the 3rd prize. This shows that smaller online businesses have a fair chance to be recognized for great customer service and experience. Larger players such as Reebonz.com.my, TuneTalk and 8share.com could also highly satisfy their customers and were three of the 4th to 10th place winners of a Premium Top 10 Seal. Country General Manager Reebonz Malaysia & Middle East, Tang Siew Wai states: “I truly believe that good shopping experience and positive word-of-mouth recommendations carry a lot of weight to boost buyers’ confidence in an online brand such as Reebonz. Hence, I would recommend e-commerce players to try out the platform from TrustedCompany.com to learn more about your customers’ sentiments towards your brand”.

Since the launch of the competition and due to great media coverage lots of Malaysian online companies, actively participated in the Trust Award competition. “One really interesting fact is that the quality and the level of details of reviews is tremendously high, showing that consumers really care about giving feedback and put a lot of effort into writing them”, mentioned Frederik Krass, Managing Director of TrustedCompany.com.

TrustedCompany.com plans to host similar awards, both in Malaysia as well as in other countries. “In this first phase we started with Malaysian online shops as our headquarters are based in Kuala Lumpur, but our competition will be held in other South East Asian markets such as Indonesia and also India later this year”, mentioned Philip Knuth.

TrustedCompany.com’s vision is to become the leading consumer review platform in all emerging e-commerce markets and raise even more awareness for the online ecosystem. “We want to make our Seals and Logos associated as trustworthy and reliable source for shopping experiences. This will help making online shopping as secure as possible and allow online shops and consumers to create a trusted and reliable relationship”, said Frederik Krass.