Malaysia, Your Next E-Commerce Destination

Boasting a 32.25 million digital population, Malaysia attracts a wide variety of companies both from local and global e-commerce markets, creating massive opportunities for SMEs and business veterans in Malaysia. Data from GlobalWebIndex shows that 80% of Malaysian internet users are already shopping online, setting the platform to create the potential for business and revenue growth for foreign merchants who want to venture into a new market.

With the rising adoption of e-wallet transactions and the transition of brick-and-mortar businesses into online marketplaces and platforms, Malaysia’s e-commerce economy is progressing at an accelerating rate, effectively solidifying its position as one of the fastest-growing e-commerce economies in the world.

–> Read more: 2019: A Ground-Breaking Year For E-Commerce In Malaysia

Online Shopping Overview in Malaysia

An e-commerce index by Fitch Solutions reveals that Malaysia is outperforming neighboring countries in the Southeast Asia region in terms of e-commerce sales growth. Many Malaysians are shopping online because the convenience of having your shopping delivered to you at your doorstep is greatly desirable, especially by Malaysians who have busy schedules.

 Some of the primary factors that encourage shoppers to shop online are:

  • Ease of comparing prices across various platforms
  • Wide variety of choices from local and international brands
  • Better price options
  • E-commerce sale events such as 11.11, 12.12, and major festive holiday sales

–> Read more: Knowing Your Sales Channels In Malaysia

Malaysia, Your Next E-Commerce Destination 1

Most of Malaysia’s e-commerce is dominated by mobile commerce. Data by ASEAN UP suggests that more than half of the e-commerce economy in Malaysia depends on mobile usage. 62% of Malaysian internet users are more likely to shop via mobile apps than on a computer’s web browser (37%).

According to Statista, Malaysia’s e-commerce economy has an overall strong growth rate across all sectors since 2017. With the government’s present efforts at improving the e-commerce sector in Malaysia, the future of e-commerce in the country is very compelling.

Digital Payment as a Catalyst

Digital payment, also known as e-wallet, is currently driving the e-commerce sector in Malaysia to even greater heights as most retail transactions are now adopting online payment methods. An increasing number of e-wallets such as Grab Pay, WeChat Pay, TNG eWallet, Boost, and many more have become favored options for Malaysians when shopping. Lucrative cashback benefits and in-app vouchers encourage consumers to favor e-wallets over cash payments or credit card transactions.

Malaysia, Your Next E-Commerce Destination 3

Strengthened Online Shopping Habits

In an unexpected turn of events, the COVID-19 pandemic helped e-commerce in Malaysia flourish even more as many brick-and-mortar stores turned to online platforms to continue generating revenue to support their business during the nationwide Movement Control Order (MCO).

The change in business models and living conditions strongly promoted online shopping habits among Malaysian consumers as they practiced self-quarantine at home. The Malaysian Digital Economy Corporation (MDEC) foresees that local merchants’ online business concepts and online shopping habits among Malaysians will continue even after the global pandemic ends.

How Can Boxme Help You

Penetrating Malaysia’s lucrative e-commerce market, international online merchants can either hire their own team to handle manual labor or outsource to a 3rd Party Logistics (3PL) company like Boxme.

Boxme Global has an extensive list of services to help merchants be able to expand their business easily to Malaysia:

  • Import and export procedures
  • E-commerce fulfillment
  • Cross-border shipping
  • Last-mile delivery
  • Cash on Delivery with daily remittance
  • Warehouse and storage system

International online merchants can leave the manual labor and operations to Boxme, so that they can focus on marketing their brand image and growing their business. The opportunity to skyrocket business growth in Malaysia is now! Contact us today to get a quotation!

SELL TO MALAYSIA WITH BOXME GLOBAL

Boxme is the premier cross-border e-Commerce fulfillment network in Southeast Asia, enabling world-wide merchants to sell online into this region without needing to establish a local presence. We deliver our services by aggregating and operating a one-stop value chain of logistic professions including: International shipping, customs clearance, warehousing, connection to local marketplaces, pick and pack, last-mile delivery, local payment collection and oversea remittance.

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