E-commerce in Malaysia - statistics & facts
Next day delivery, coupons for discounts, and a wide variety of products offered on different platforms; Malaysians are spoiled for choice when it comes to online shopping. Unsurprisingly, Malaysia is the third leading country for e-commerce sales growth in 2024. Many factors contributed to the rapid development of the e-commerce market in the country, including a high internet penetration rate and user-friendly online marketplaces. The gross merchandise value (GMV) of e-commerce in Malaysia was forecast to reach approximately 25 billion U.S. dollars by 2030.
Shopee was the most visited platform in the e-commerce market in Malaysia with the largest share of monthly traffic compared to other online shopping sites. It was launched in 2015 by a Singaporean technology conglomerate, Sea Limited. Because of its innovative and user-friendly shopping experience, especially on its mobile app, Shopee generated a revenue of around 70 million U.S. dollars in Malaysia in 2024.
With internet access, convenience, and ease of payment available at the consumers’ fingertips, Malaysia is well on its way to become an e-commerce powerhouse in Southeast Asia.
Digital transformation to support consumer trends
E-commerce in Malaysia is supported by the government’s initiative to propel the industry with its National E-commerce Strategic Roadmap (NESR), which was approved in April 2021. The country’s plan for digital transformation was to develop better information and communication technology (ICT) infrastructure, so that Malaysians can access high-speed internet not only at home but also on mobile. As of 2024, more than 80 percent of the population had coverage for 5G mobile network. This ensures that consumers in Malaysia would not have a problem browsing their favorite online marketplaces at any time, given that these were the most frequently used channels for Malaysians to shop online.Online shopping is here to stay
Online shopping increased in popularity during the COVID-19 pandemic in 2020 and 2021 because of the Movement Control Order (MCO) imposed by the Malaysian government. Physical stores were closed, and consumers had no choice but to buy things online. Although the pandemic is now a thing of the past, a 2023 survey found that the frequency with which Malaysian consumers made purchases online remained high. Electronics and fashion products are the two most popular product categories on e-commerce marketplaces that people in Malaysia purchased.Shopee was the most visited platform in the e-commerce market in Malaysia with the largest share of monthly traffic compared to other online shopping sites. It was launched in 2015 by a Singaporean technology conglomerate, Sea Limited. Because of its innovative and user-friendly shopping experience, especially on its mobile app, Shopee generated a revenue of around 70 million U.S. dollars in Malaysia in 2024.
The future of e-commerce payments
The convenience of online shopping would mean nothing without the availability of different e-commerce payment methods in Malaysia. Leading e-commerce platforms have also started to incorporate their own digital wallets, like Shopee Pay or Grab pay, for hassle-free payment on their respective apps. The value of digital commerce in Malaysia was expected to exceed 160 million U.S. dollars by 2030.With internet access, convenience, and ease of payment available at the consumers’ fingertips, Malaysia is well on its way to become an e-commerce powerhouse in Southeast Asia.
