Owning an E-commerce Business
Spotting a Market Opportunity During COVID-19
| October 2021 - May 2022
Owning an E-commerce Business
Spotting a Market Opportunity During COVID-19
| October 2021 - May 2022
Back in 2020, when the COVID-19 pandemic began, many people turned to online games for entertainment, and Genshin Impact was a standout hit. Personally, I enjoyed the game immensely, and it helped me get through the isolation of lockdown. Seeing its popularity, I recognized a market opportunity to sell Genshin Impact merchandise online, especially since my government was pushing e-commerce initiatives with promotional credits.
I started by ordering Genshin Impact keychains from China through Taobao and had them shipped to Malaysia via freight forwarding. Each keychain cost around 5 Ringgit ($1 USD), and I sold them on Shopee (similar to Etsy) for 20 Ringgit ($5 USD), achieving a profit margin of 75%.
Building the Business
Setting up the online store involved creating informative graphics and product photos to attract buyers. I also delved into digital marketing, learning how to run promotional ads on Facebook, Instagram, and Shopee. This included mastering keyword targeting and search engine optimization to ensure my shop appeared at the top of search results.
I also navigated the challenges of managing stock and understanding business risks. Knowing which characters were the most popular helped me decide which variants to stock, while proper packaging and shipping ensured customer satisfaction. Despite the challenges, the business sold around 1,100 keychains and generated around 20,000 Ringgit in revenue (approximately $5,000 USD) in just six months. I gathered over 316 reviews, and my shop remained at 5 stars.
Lessons Learned and Reflections
Running this e-commerce business taught me valuable lessons about entrepreneurship, digital marketing, and risk management. It was incredibly satisfying to see my efforts translate into tangible results, and although I had to close the business when I moved to the US for my studies, the experience was invaluable. Many customers asked if I would return, and while I’m sad that I couldn’t continue, I’m grateful for the lessons and the experience gained.
I'm holding up the ready to be shipped packaged orders
My product page on Shopee