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.
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.
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:
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In the data pack, we provide our estimates of the Shopee and Lazada sales for March 2024 (separate file for each platform) for the Malaysia market, broken down by product categories.
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.
We list the top 5 products (by revenue) in each category, their price, sales volume, name, and picture.
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!
If you are looking to dive deeper into Southeast Asia’s eCommerce market, look no further than our expert team! With our thorough research and analysis, you’ll gain a deep understanding of your niche, including market structure, size, and emerging trends. We’ll also provide invaluable insights on price ranges, top-selling items, and popular brands to help you stay ahead of the competition.
Get in touch today to learn more about how we can help you unlock the full potential of Southeast Asia’s eCommerce market!
