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

in million US$, in %

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
AOV: Average Order Value CVR: Conversion Rate

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

in million US$

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