Malaysia, The Region's King Of Online Shopping
Jun 16, 2023
A recent retail survey has revealed that as many as 22 million consumers in Malaysia are digital consumers and online channels now play a four times larger role than offline channels. Malaysia is also ahead of Indonesia at 80% and Singapore at 79%.
In an interview with The Edge, Gwendolyn Lim, partner at Bain & Co, shares that 88% of the total Malaysian population are digital consumers today versus the Southeast Asian (SEA) average of 78%.
The size of Indonesia’s e-commerce market doubles every year. Therefore, this nation of more than 17,000 islands is an ideal land for e-commerce sellers in the coming year.
The disposable income of shoppers in Southeast Asia has reached the benchmark of $300 billion.
Almost all Southeast Asia countries have more than 70% of internet users with experience shopping online.
The Malaysian e-commerce market is expected to reach $13 billion by 2025. With the rise of shopping apps and payment gateways, it’s no wonder that shopping will remain as Malaysia’s favourite pastime.
Source: Insider Intelligence