What is the current market trend in Malaysia?

What is the current market trend in Malaysia?

Malaysia is the 35th largest market for eCommerce with a revenue of US$6 billion in 2021, placing it ahead of Israel and behind Denmark. With an increase of 30%, the Malaysian eCommerce market contributed to the worldwide growth rate of 29% in 2021. Revenues for eCommerce continue to increase.

What are Malaysians buying online?

According to Hootsuite’s Digital 2020 Report, here is a list of the most popular online shopping categories among Malaysians:

  • Travel (including accommodations)
  • Electronics and physical media.
  • Fashion and beauty.
  • Furniture and appliances.
  • Food and personal care.
  • Toys, DIY and hobbies.
  • Video games.
  • Digital music.

What percentage of clothes shopping is done online?

Fashion e-commerce involves buying and selling fashion-related items online. In 2020, fashion e-commerce accounted for roughly 29.5 percent of the total fashion retail sales in the United States and has continued to experience a steady annual growth rate since 2003.

Why do people prefer online shopping in Malaysia?

The top three reasons why Malaysians prefer to shop online are convenience, price and selection. This has increased the online shopping trend in Malaysia. 47 percent of the respondents stated that they would continue buying online because it was more convenient than going to a physical store as of May 2020.

Which industry is growing in Malaysia 2021?

Industrial products and services The industrial products and services sector proved best-performing in 2021, registering growth of 19.8% and trending upwards from 169 points in January to 203 in December.

How big is the e commerce market in Malaysia?

The e-commerce market value in Malaysia amounted to 30.2 billion Malaysian ringgit in 2020. This was approximately a 24.8 percent increase compared to 2019 where the e-commerce value was at 24.2 billion Malaysian ringgit.

What do Malaysian buy the most online?

Malaysia’s e-commerce market has a wide range of demand depending on season, however it is generally notable that the top three most popular product categories are electronics, fashion, and personal care.

What are the advantages of online shopping?

Shopping is made easier and convenient for the customer through the internet….Why shop Online

  • Saves time and efforts.
  • The convenience of shopping at home.
  • Wide variety/range of products are available.
  • Good discounts / lower prices.
  • Get detailed information about the product.
  • We can compare various models/brands.

How many online shops are there in Malaysia?

Indeed, Malaysia appears to be the region’s king of e-shopping. 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.