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%.

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.