Malaysia: Southeast Asia’s Future E-commerce Hotspot
Jayson 18 Oct 2023 12:56
In Southeast Asia, there is another country whose market share is lower than Indonesia but is growing very rapidly. This country is Malaysia.
Malaysia is the third largest economy in Southeast Asia and the 35th largest e-commerce market in the world. It is predicted that from 2019 to 2025, the growth rate of Malaysia's e-commerce market will be 18.8%, far exceeding the global average of 11%.
E-commerce sales in Malaysia have continued to grow strongly in recent years, with double-digit revenue growth over the past decade. This growth has continued into 2022, although the pace of growth has slowed slightly from the previous year.
Moreover, Malaysia's e-commerce has broad prospects, with government support and consumers favoring digital payments. In 2004, eBay launched its Malaysian site, thus officially kicking off the Malaysian e-commerce market.
In addition, Malaysia's population is young, and the Internet penetration rate has reached 85%, about 26 million people, and 80% will choose to shop online. Among the many online shopping consumers, 93% will choose digital payment, such as Alipay, WeChat Pay, Google Pay and PayPal.
At the same time, the Malaysian government is also actively promoting the development of e-commerce, including making the Internet cover more rural areas and enhancing e-wallet technology services.
After the indonesia ban, In Southeast Asia, a hot land of e-commerce that is still boiling, crises and opportunities come together, and order will eventually be slowly established as the melee continues.
Malaysia is the third largest economy in Southeast Asia and the 35th largest e-commerce market in the world. It is predicted that from 2019 to 2025, the growth rate of Malaysia's e-commerce market will be 18.8%, far exceeding the global average of 11%.
E-commerce sales in Malaysia have continued to grow strongly in recent years, with double-digit revenue growth over the past decade. This growth has continued into 2022, although the pace of growth has slowed slightly from the previous year.
Moreover, Malaysia's e-commerce has broad prospects, with government support and consumers favoring digital payments. In 2004, eBay launched its Malaysian site, thus officially kicking off the Malaysian e-commerce market.
In addition, Malaysia's population is young, and the Internet penetration rate has reached 85%, about 26 million people, and 80% will choose to shop online. Among the many online shopping consumers, 93% will choose digital payment, such as Alipay, WeChat Pay, Google Pay and PayPal.
At the same time, the Malaysian government is also actively promoting the development of e-commerce, including making the Internet cover more rural areas and enhancing e-wallet technology services.
After the indonesia ban, In Southeast Asia, a hot land of e-commerce that is still boiling, crises and opportunities come together, and order will eventually be slowly established as the melee continues.
