Know More About eCommerce In Malaysia
While e-commerce in Malaysia continues to grow, more and more people are seeing the value for online sales in Malaysia.
Within Southeast Asia, e-commerce has prospered as an industry in a short span of 10 years. It has reached what many call an inflection point for a country like Malaysia, which could also mean massive growth in e-commerce, and many players are beginning to realize this.
Based on export.gov data, Due to its high dynamic economy and advanced digital technology infrastructure, Malaysia is an attractive eCommerce market in Southeast Asia. Malaysia has approximately 25.84 million active internet users (80% of the population) and cell phone penetration rates are exceptionally high for the population. Of the Malaysians 32.25 million (data from January 2019), 25 million are social media users, 40.24 million mobile subscriptions , and 24 million use social media on their mobile devices.
The e-commerce market in Malaysia is expected to reach US$ 3.7 billion in 2019 and is expected to hit US$ 5.7 billion in 2023. The growth of e-commerce in this country is increasing significantly,
The Malaysian eCommerce marketplace is gaining government attention and support. Expanding incomes, growing smartphone and internet penetration are all factors that will grow Malaysia’s online market and revenue is expected to show an annual growth rate of 11.4%, (CAGR 2019-2023), it means that you can still ride on it and build the market share in Malaysian e-commerce as well.
As such, Malaysia's largest e-commerce websites continue to grow much bigger each year, yet, new e-commerce websites get launched every month. That why It's now the perfect opportunity for both experienced and newbies eCommerce players to dig deeply and make the most of Malaysia's eCommerce.
You can get the best deals from the eCommerce Solution Provider and benefit enormously from the sales not only in Malaysia but throughout the Southeast Asian market, By listing on influential Malaysian marketplaces that fit the offerings of your goods, you increase the chances of capturing a larger segment of the Malaysian customer base that suits your products.