Statistic Shows ‘Something’ of Value
SIMPLE CASE STUDY 1:
Based on the statistic given by Department of Statistic Malaysia, our total population now is 27.73 million.
Regardless of the group age <15 years (32%) - ‘bcoz they have NO purchasing power at all; and the group age >65 years (4.5%) - old people are having less interest in buying thru online;
The left amount we got that has the intention to use Internet is 63.5% (17.61 million).
If we can convert 1% of 17.61 million into profit and assuming that the product is selling $1, the net profit that we get is $176,100. It sounds great, right?
But, don’t forget to deduct the number of those people who are living in rural area with no Internet connection; a group of people who are working for a decent non-stop 9-5 job; housewifes who are buzy in household work; etc.
SIMPLE CASE STUDY 2:
Case 1 is considered as a simple assumption. If we think more deeply, you would discover that there is a group of people who have a better or higher chance of purchasing products or services online. They are from those ‘Income group’.
Getting the figure from the 2nd quarter of year 2008 – only 11 million of people who are employed and earn the income. If the response rate of buying online products is 1% of 11 million, simple maths, it is equal to $11,000. In other words, we are able to make the amount of $11,000 from this income group in just a single month!!
Again, this figure does not explain much as no real survey was done. However, it proved to me that running online business is workable as Internet users keep increasing in every single day.
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