Online shopping acceleration has boosted the e-commerce market growth in Malaysia
Malaysia’s e-commerce market to grow by 25% this year. Source: shutterstock.com
According to GlobalData, Malaysia’s e-commerce market is forecasted to register a 24.7% growth in 2020. The market is expected to reach $12.6 billion by 2024, increasing at a compound annual growth rate of 14.3% between 2020 and 2024.
The report states that the government launched a three-month campaign in June with a budget of $34.2 million to drive e-commerce adoption among small merchants. That would also help to widen their reach across the country.
As to the most preferred payment method in Malaysia, cards are accounting for 40.3% share by value in 2020. Besides, alternative payment methods are gaining popularity with a combined market share of 25.3% as well.
We’ve reported that nearly 5,500 new online stores were registered in Poland during the first half of 2020. Meanwhile, 2,000 got shut down.
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