Malaysia. eCommerce sales estimates (March 2024)

Get ready to uncover the latest insights into Malaysia's eCommerce market with TMO group's "Malaysia eCommerce sales estimates". This data pack contains data on SKUs, sales volumes, and revenue for major product groups sold on Lazada and Shopee in Malaysia. Be the first to know the sales trends for March 2024 and stay ahead of the competition.

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            [0] => The eCommerce market in Malaysia has experienced rapid growth in the past few years. According to Statista, the market size of eCommerce in Malaysia is expected to reach USD 19.84 billion in 2027. As the third-largest economy in Southeast Asia, Malaysians have a relatively high income compared with other 5 countries. According to research data, the average annual income per capita in Malaysia is 10,269 US Dollar, which ranked second just behind Singapore in the Southeast Asian region. In addition, 43.4% of the population of Malaysia are under 25 years old. This means that Malaysia may have great consumption potential and could be a good market for companies considering international expansion opportunities.

In March 2024, the total sales revenue of the Shopee and Lazada in Malaysia reached approximately USD 530 million, showing an increase compared to December 2023. Electronics & Accessories, Apparel & Fashion and Home & Furniture gained significant popularity in Malaysia. The following analysis will provide insights into the sales data for the month in Malaysia.
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            [0] => Platform Performance: Shopee's sales were higher than Lazada's. In March 2024, Malaysia generated USD 500 million in sales on Shopee owing to the Ramadan promotion, ranking fourth among the six Southeast Asian countries. Malaysia has a large Muslim population. They reunite with their families and exchange gifts with relatives and friends during Ramadan, which may lead to a significant increase in consumer demand and drive eCommerce sales growth. Lazada's sales revenue reached USD 31.3 million. Stay tuned to TMO as we continue to observe the trends in the entire Malaysian eCommerce market this year. 

In terms of categories, on the Shopee platform, Electronics & Accessories occupied the top spot in sales with a market share of 36.4%, followed by Apparel & Fashion and Home & Furniture, with market shares of 20.3% and 9.8% respectively. On the Lazada platform, the most popular category was TV & Home Appliances and Babies & Toys, accounting for a combined market share of approximately 76%.

With regards to best-selling products:
  • In the Electronics & Accessories category on Shopee, smartphones were still the most popular electronic products. Overseas brands are more attractive to Malaysian consumers, with Apple phones occupying four out of the top five spots in the sales ranking. In the Apparel & Fashion category, Muslim fashion clothing gained great popularity, accounting for 42.4% of the market share.
  • In the TV & Home Appliances category on Lazada, Malaysian consumers have the highest demand for vacuum cleaners. In the Babies & Toys category, milk formula and baby food were sold best. In the Electronics & Accessories category, the Chinese smartphone brand OPPO occupies both the first and second positions on the best-selling product list, indicating a strong appeal of Chinese brands to Malaysian consumers.
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This data pack contains data on SKUs, sales volumes, and revenue for major product groups sold on Lazada and Shopee in Thailand. 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According to the "Thailand - Country Commercial Guide" released by the U.S. Department of Commerce International Trade Administration in January 2024, Thailand has approximately 43.5 million e-commerce users, with 17-36 year-olds being the main force, accounting for 62% of Thailand's e-commerce market. The influx of more young users has played a significant role in driving e-commerce sales in Thailand. In addition, affluent Thai online shoppers have strong brand awareness, and as this group continues to grow, it is bound to inject new vitality and business opportunities into the Thai e-commerce market. The cross-border e-commerce market in Thailand is vibrant. According to the "Thailand - Country Commercial Guide," cross-border e-commerce accounts for 30% of the entire Thai e-commerce market, and nearly half of online shoppers have experience shopping on cross-border e-commerce platforms. In February 2024, the total sales revenue of the two main platforms Shopee and Lazada in Thailand reached approximately 762 million. ) [_download_description_0_content] => Array ( [0] => field_5b399a6b21e4d ) [download_description_1_title] => Array ( [0] => ) [_download_description_1_title] => Array ( [0] => ) [download_description_1_content] => Array ( [0] => ) [_download_description_1_content] => Array ( [0] => ) [download_description_2_title] => Array ( [0] => Highlight ) [_download_description_2_title] => Array ( [0] => field_5b399a5d21e4c ) [download_description_2_content] => Array ( [0] => Platform Performance: Shopee's sales are higher than Lazada's. In February 2024, Shopee's sales in the Thai market were 650 million, ranking fourth among the six Southeast Asian countries. Lazada's sales revenue reached 110 million, also ranking fourth among the six countries. Keep an eye on TMO as we continue to observe the trends in the entire Thai e-commerce market this year. In terms of categories, on the Shopee platform, electronic products and accessories occupy the top spot with a market share of 31.5%, followed by clothing and fashion, and health and beauty, with market shares of 15.4% and 14.3% respectively. On the Lazada platform, the most popular category among consumers is home and living, accounting for 19.1% of sales, followed by health and beauty (14.9%) and women's fashion and accessories (11.0%). With regards to best-selling products:
  • In the electronic products and accessories category on the Shopee platform, smartphones are still the most popular electronic products. Thai consumers have a high brand preference, with Apple smartphones occupying three out of the top five spots in the sales rankings. It is worth noting that the sales revenue of home appliances accounted for around 40% market share, which was almost the same as that of electronic products and accessories. Chinese brands TCL and Hisense have entered the top five in the sales rankings. In the health and beauty category, weight management products are the best-selling products.
  • In the health and beauty products category on the Lazada platform, perfumes have gained great popularity.
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We provide numbers such as total SKUs with sales, number of sales, revenue (both in local currency and USD), and distribution of sales by the price range of items. Where relevant, we show internal categories of product groups. 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Starting February 2023, TMO no longer releases monthly South East Asia eCommerce sales estimates of the six Southeast Asian countries. Instead, we will refer to Shopee and Lazada's marketing calendars to collect and publish sales estimates for the selected country each month. To enhance readers' understanding of the top products, we will also translate the parts containing local languages into English.

The country plan for 2024 is as follows: Indonesia (January), Thailand (February), Malaysia (March), Vietnam (April), Indonesia (May), Singapore (June), The Philippines (July), Vietnam (August), Thailand (September), The Philippines(October), Singapore (November), and Malaysia (December).

At the same time, we will delve into various industries, continuously releasing industry outlooks to meet readers' needs for focused attention on specific industries. In December 2022, TMO already published the first issue of Southeast Asia Cosmetics and Makeup Market Outlook. Furthermore, TMO will be introducing additional industry outlooks to furnish readers with comprehensive insights into segmented market trends, enabling them to make informed business decisions. Stay tuned!

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What Will You Find...

The eCommerce market in Malaysia has experienced rapid growth in the past few years. According to Statista, the market size of eCommerce in Malaysia is expected to reach USD 19.84 billion in 2027. As the third-largest economy in Southeast Asia, Malaysians have a relatively high income compared with other 5 countries. According to research data, the average annual income per capita in Malaysia is 10,269 US Dollar, which ranked second just behind Singapore in the Southeast Asian region. In addition, 43.4% of the population of Malaysia are under 25 years old. This means that Malaysia may have great consumption potential and could be a good market for companies considering international expansion opportunities.

In March 2024, the total sales revenue of the Shopee and Lazada in Malaysia reached approximately USD 530 million, showing an increase compared to December 2023. Electronics & Accessories, Apparel & Fashion and Home & Furniture gained significant popularity in Malaysia. The following analysis will provide insights into the sales data for the month in Malaysia.

Highlights

Platform Performance: Shopee's sales were higher than Lazada's. In March 2024, Malaysia generated USD 500 million in sales on Shopee owing to the Ramadan promotion, ranking fourth among the six Southeast Asian countries. Malaysia has a large Muslim population. They reunite with their families and exchange gifts with relatives and friends during Ramadan, which may lead to a significant increase in consumer demand and drive eCommerce sales growth. Lazada's sales revenue reached USD 31.3 million. Stay tuned to TMO as we continue to observe the trends in the entire Malaysian eCommerce market this year. 

In terms of categories, on the Shopee platform, Electronics & Accessories occupied the top spot in sales with a market share of 36.4%, followed by Apparel & Fashion and Home & Furniture, with market shares of 20.3% and 9.8% respectively. On the Lazada platform, the most popular category was TV & Home Appliances and Babies & Toys, accounting for a combined market share of approximately 76%.

With regards to best-selling products:

  • In the Electronics & Accessories category on Shopee, smartphones were still the most popular electronic products. Overseas brands are more attractive to Malaysian consumers, with Apple phones occupying four out of the top five spots in the sales ranking. In the Apparel & Fashion category, Muslim fashion clothing gained great popularity, accounting for 42.4% of the market share.
  • In the TV & Home Appliances category on Lazada, Malaysian consumers have the highest demand for vacuum cleaners. In the Babies & Toys category, milk formula and baby food were sold best. In the Electronics & Accessories category, the Chinese smartphone brand OPPO occupies both the first and second positions on the best-selling product list, indicating a strong appeal of Chinese brands to Malaysian consumers.

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