eCommerce market in Malaysia
Malaysia is the 25th largest market for eCommerce with a predicted revenue of US$16,401.1 million by 2024, placing it ahead of Denmark. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 16.6%, resulting in a projected market volume of US$30,345.7 million by 2028. With an expected increase of 21.4% in 2024, the Malaysian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Malaysia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Malaysian eCommerce market. Electronics is the largest market and accounts for 24.9% of the Malaysian eCommerce revenue. It is followed by Fashion with 19.5%, Hobby & Leisure with 18.6%, Furniture & Homeware with 11.7%, Grocery with 10.4%, Care Products with 7.8%, and DIY with the remaining 7.1%.
Monthly revenues
Monthly revenues in the Malaysian eCommerce market
The monthly eCommerce revenue of the Malaysian eCommerce market was US$1,131 million in September 2024. This refers to a growth of -4.8% compared to August 2024. Within the last 12 months, the monthly revenue share was the highest in January 2024 with 10.2% of the total 2024 revenue of the Malaysian eCommerce market and the lowest in September 2024 with 6.9% of the total 2024 revenue.
Revenue Last Month
US$1,130.5m
The eCommerce revenue fell by 4.8% from August 2024 to September 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 78.6 | 37.5 | 65.9 | 90.4 | 53.8 | 94.1 | 90.5 | 93.7 | 20.2 | 42.7 | 88.3 | 28.3 |
Market development
eCommerce revenue development in Malaysia
Malaysia is the 25th largest market for eCommerce with a predicted revenue of US$16,401.1 million by 2024, placing it ahead of Denmark. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 16.6%, resulting in a projected market volume of US$30,345.7 million by 2028. With an expected increase of 21.4% in 2024, the Malaysian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Malaysia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Malaysian eCommerce market. Electronics is the largest market and accounts for 24.9% of the Malaysian eCommerce revenue. It is followed by Fashion with 19.5%, Hobby & Leisure with 18.6%, Furniture & Homeware with 11.7%, Grocery with 10.4%, Care Products with 7.8%, and DIY with the remaining 7.1%.
eCommerce revenue development in Malaysia
eCommerce revenue growth in Malaysia
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 26.3 | 62.0 | 82.3 | 65.0 | 33.3 | 70.6 | 38.5 | 99.1 |
Top stores
Top five online stores in Malaysia by net sales 2023
The biggest player in the Malaysian eCommerce market is amway.my. The store had a revenue of US$247.7 million in 2023. 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 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Malaysian eCommerce market
The Malaysian eCommerce market in 2023 in terms of offered payment methods is fragmented and dominated by a few providers with VISA (Cards) covering the largest share with 92.8% of all online stores checked. Other offered payment methods in the Malaysian eCommerce market in 2023 are Mastercard (Cards) with 91.9%, Bank transfer/cash in advance (Bank transfer) with 57.7%, and Invoice (unknown) with 47.7%. With 41.4% PayPal (E-wallets) has already a significantly smaller coverage compared to VISA (Cards).
Top 5 offered payment methods in the Malaysian eCommerce market
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Shipping Service Provider
Top 5 offered shipping providers in the Malaysian eCommerce market
Despite POS Malaysia's dominant position with 35.2% of online stores opting for its services, the Malaysian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including GDex, Ninja Van, DHL, and City-Link Express, hold smaller but significant shares, contributing to a dynamic and fragmented market.
Top 5 offered shipping providers in the Malaysian eCommerce market
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Shop Software Solutions
Top 5 used shop software solutions in the Malaysian eCommerce market
Although Shopify holds a commanding lead with 23.8% of online stores using the shop software solution, the Malaysian eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including WooCommerce, Magento, OpenCart, and Salesforce Commerce Cloud, which collectively hold a significant share of the market.
Top 5 used shop software solutions in the Malaysian eCommerce market
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