The ecommerce market in Malaysia is among the fastest-growing in Southeast Asia, with a total transaction value of USD 6.2 billion in 2019. GlobalData’s latest report, ‘Malaysia Cards & Payments: Opportunities and Risks to 2023’, states that rising Internet and smartphone penetration, growing middle class population, and increasing tech-savvy millennials, coupled with government initiatives, propelled the ecommerce market value to grow more than three times between 2015 and 2019.
The government is putting concerted efforts to increase the awareness among consumers and businesses, especially SMEs. In that sense, the government launched Digital Free Trade Zone in March 2017 with an aim to position Malaysia as one of the regional ecommerce hubs.
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