eCommerce market in Malaysia
Malaysia is the 31st largest market for eCommerce with a predicted revenue of US$10,187.7 million by 2023, placing it ahead of Colombia. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 13.6%, resulting in a projected market volume of US$16,982.1 million by 2027. With an expected increase of 18.3% in 2023, the Malaysian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Malaysia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Malaysian eCommerce market. Electronics & Media is the largest market and accounts for 29.3% of the Malaysian eCommerce revenue. It is followed by Fashion with 27.9%, Furniture & Appliances with 16.5%, Food & Personal Care with 14.2%, and Toys, Hobby & DIY with the remaining 12.0%.
Market development
eCommerce revenue development in Malaysia
Malaysia is the 31st largest market for eCommerce with a predicted revenue of US$10,187.7 million by 2023, placing it ahead of Colombia. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 13.6%, resulting in a projected market volume of US$16,982.1 million by 2027. With an expected increase of 18.3% in 2023, the Malaysian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Malaysia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Malaysian eCommerce market. Electronics & Media is the largest market and accounts for 29.3% of the Malaysian eCommerce revenue. It is followed by Fashion with 27.9%, Furniture & Appliances with 16.5%, Food & Personal Care with 14.2%, and Toys, Hobby & DIY with the remaining 12.0%.
eCommerce revenue development in Malaysia
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 18.6 | 36.3 | 80.6 | 56.6 | 50.0 | 86.9 | 41.8 | 54.9 |
AOV (in US$) | 46.8 | 34.0 | 93.4 | 93.6 | 49.7 | 83.8 | 81.2 | 25.7 |
CVR (in %) | 18.6 | 36.3 | 80.6 | 56.6 | 50.0 | 86.9 | 41.8 | 54.9 |
Top stores
Top five online stores in Malaysia by net sales 2021
The biggest player in the Malaysian eCommerce market is amway.my. The store had a revenue of US$222.3 million in 2021. amway.my is followed by shopee.com.my and apple.com as the second- and third-largest stores with US$105.6 million and US$99.2 million, respectively. Altogether, the top three stores account for 34.3% of the top 100 online stores' revenue in Malaysia. Store rankings include every store that generates revenue in Malaysia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Malaysia was considered.
eCommerce net sales generated in Malaysia in 2021
Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed
Source: Annual report, secondary sources, ecommerceDB analysis
no-access-0 | no-access-1 | no-access-2 | no-access-3 | no-access-4 | |
---|---|---|---|---|---|
Filtered revenue (in mUS$) | 900.0 | 550.0 | 470.0 | 430.0 | 370.0 |
Share of global revenue (in %) | 20.7 | 12.0 | 3.9 | 20.6 | 20.7 |
Global revenue (in mUS$) | 8,300.0 | 4,600.0 | 1,190.0 | 2,122.0 | 1,814.0 |
Growth global revenue (in %) | 8.3 | 12.4 | 33.6 | 18.0 | 12.6 |
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