eCommerce market in Malaysia
Market development
eCommerce revenue development in Malaysia
Malaysia is the 24th largest market for eCommerce with a predicted revenue of US$18,201.3 million by 2024, placing it ahead of Iran. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 16.6%, resulting in a projected market volume of US$33,672.5 million by 2028. With an expected increase of 21.4% in 2024, the Malaysian eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Malaysia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Malaysian eCommerce market. Electronics is the largest market and accounts for 24.9% of the Malaysian eCommerce revenue. It is followed by Fashion with 19.5%, Hobby & Leisure with 18.6%, Furniture & Homeware with 11.7%, Grocery with 10.4%, Care Products with 7.8%, and DIY with the remaining 7.1%.
eCommerce revenue development in Malaysia
eCommerce revenue growth in Malaysia
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 35.5 | 81.6 | 10.6 | 42.2 | 67.1 | 48.7 | 58.2 | 60.1 |
Top stores
Top five online stores in Malaysia by net sales 2023
The biggest player in the Malaysian eCommerce market is amway.my. The store had a revenue of US$247.7 million in 2023. Store rankings include every store that generates revenue in Malaysia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Malaysia was considered.
eCommerce net sales generated in Malaysia in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Malaysian eCommerce market
The Malaysian eCommerce market in 2023 in terms of offered payment methods is fragmented and dominated by a few providers with VISA (Cards) covering the largest share with 92.8% of all online stores checked. Other offered payment methods in the Malaysian eCommerce market in 2023 are Mastercard (Cards) with 91.9%, Bank transfer/cash in advance (Bank transfer) with 57.7%, and Invoice (unknown) with 47.7%. With 41.4% PayPal (E-wallets) has already a significantly smaller coverage compared to VISA (Cards).
Top 5 offered payment methods in the Malaysian eCommerce market
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Shipping Service Provider
Top 5 offered shipping providers in the Malaysian eCommerce market
Despite POS Malaysia's dominant position with 43.9% of online stores opting for its services, the Malaysian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including GDex, DHL, City-Link Express, and Ninja Van, hold smaller but significant shares, contributing to a dynamic and fragmented market.
Top 5 offered shipping providers in the Malaysian eCommerce market
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