Insights into the growth of Malaysian eCommerce
Digital User Insights
There are currently 16.53 million eCommerce users in Malaysia, who spend $79.15 USD online annually. Four years from now, an expected 21.44 million online shoppers will spend approximately $110.04 USD.
Dividing internet usage into age groups gives a better picture of the Malaysian eCommerce market – 93% of 16-24 year olds, 88% of 25-34 year-olds and 90% of 35-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing an 87% and 69% daily penetration rate, respectively.
Total Malaysian eCommerce revenue across all product categories is 1.31 billion USD, and is expected to grow to 2.53 billion USD by 2022. Electronics & Media is currently the leading product category in Malaysia, accounting for 477.7 million USD market share, followed by Furniture and Appliances, which generates 356.3 million USD in sales.
By 2022, Furniture & Appliances will become the most purchased online category, with an estimated value of 1.02 billion USD, and second favorite, Electronics & Media, will have an expected worth of 629.2 million USD.
Where does Malaysia buy from?
China supplies Malaysia with 37.7 billion USD in imports – ranging from petroleum to computers. Malaysia's other key import partners are Singapore ($35 billion), Japan ($12.1 billion), the United States ($11.8 billion) and South Korea ($7.53 billion).
Internet and Device Usage
Internet penetration in Malaysia is currently 68.2%, and should reach 68.8% by 2022. Smartphone penetration is a little less (65.1%), but is projected to grow to 68.5% in the next four years.
72% of online shoppers in Malaysia buy via desktop, a stark contrast to the amount of smartphone (20%) and tablet (6%) shoppers.