Digital creator ecosystem to lift Oasis Home

PETALING JAYA: Oasis Home Holding Bhd’s untapped growth potential in the Malay consumer market, coupled with its creator-led digital commerce ecosystem, will give the retailer a competitive edge in driving long-term earnings growth, according to Apex Securities Research.

It highlighted that Malaysia’s 18 million- strong Malay population presents Oasis Home with a significant growth runway, estimating that the retailer could generate RM36mil in annual revenue by capturing just 1% of the market.

Apex Securities noted that the Malay demographic contribution, in particular, had steadily increased from 1.2% of group revenue in financial year 2022 (FY22) to 5.3% in FY25, with revenue rising from RM500,000 to RM3.8mill over the same period.

The momentum continued into the nine-month period of FY26, with revenue from Malay consumers rising to RM6.4mil, making up 9.9% of total revenue, already 1.7 times its full-year FY25 contribution.

“This reflects Oasis Home’s successful expansion beyond its traditionally Chinese-centric customer base, broadening its addressable market while diversifying its consumer base,” it noted.

It added that the FIFA World Cup 2026 campaign and the continued expansion of the group’s creator ecosystem should further strengthen the group’s brand awareness and customer acquisition within the Malay consumer segment.

Meanwhile, Apex Securities said Oasis Home’s creator ecosystem provides a ready market for its artificial intelligence- powered content creation courses, reinforcing its long-term growth strategy.

The research house said the group has established an ecosystem of about 18,000 creators who promote its products through short-form videos, affiliate marketing and live commerce, providing the group with a scalable customer acquisition and sales channel.

“Today, live commerce remains one of the group’s core revenue channels, supported by an extensive ecosystem of livestream hosts, affiliates and content creators.

“We believe Oasis Home’s accumulated operating experience and diversified digital sales channels position it well to capture the continued structural shift towards content-driven online commerce,” it said.

Additionally, while live commerce is expected to remain its largest revenue contributor, the group’s marketplace and pharmacy distribution are also projected to grow at a faster pace and account for an increasing share of revenue, according to the research house.

For example, the research house noted Oasis Home has commenced product distribution through approximately 726 pharmacy outlets currently in operation, comprising Big Pharmacy and Caring, independent pharmacies and small chains and CTG subsidiaries.

The group has also secured new distribution partnerships with Watsons and Health Lane, bringing its identified distribution pipeline to more than 1,000 pharmacy outlets upon full rollout.

Apex Securities believes the retailer’s expanding pharmacy footprint will enhance product accessibility, widen customer reach and drive recurring revenue growth, while strengthening its position in Malaysia’s organised pharmacy retail sector.

Moving forward, the research house expects the retailer to further improve customer lifetime value through stronger acquisition, retention and cross-selling opportunities across its omnichannel ecosystem. It forecast the group’s revenue to grow at a 24.6% compound annual growth rate from FY25 to FY28.