Malaysia understands the importance of its e-commerce market. The country established a Strategic Roadmap document and established a National E-Commerce Council. Is that enough to motivate entrepreneurs to start a new online-based business in Malaysia? Here are the top reasons why you should start an ecommerce in Malaysia!
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The Market Is Growing Rapidly
The reports show facts, and those are that the Malaysian e-commerce market is growing. The country had tripled its income in this area from 2015 to 2019. In 2020, the market value was $4.3 billion. The plan is to at least double it until 2025. That indicates customers and business owners both trust the Malaysian market.
Millions of Malaysians Buy Online
The statistics indicate that over 26 million Malaysians have an internet connection. Apart from the impressive penetration rate, the number of online shoppers is admirable. In the age group from 16 to 64, four out of five citizens have purchased online at least once.
The use of social media can also be to your advantage. At least three out of four adult Malaysians have accounts on at least a single social network. That makes it easier to boost your brand awareness and increase profit.
Support for Digital Payments
Customers migrated from paying cash on delivery to conducting their payments digitally. The countries that haven’t adapted to that had their e-commerce market growth lowered. The Malaysian government and banks recognized the importance of digital payments. That’s why they worked together to offer a simple environment for paying directly on the e-commerce website. Google Pay, WeChat, AliPay, and PayPal are all available, which is important for those who plan to start e-commerce in Malaysia.
The Topology Is Suitable for Delivery Logistics
Some countries in the region have multiple islands, which makes setting the delivery system troublesome. Malaysia has two critical areas – East Malaysia and Peninsular Malaysia. Your e-commerce logistics to deliver products throughout the country shouldn’t be a problem to start an ecommerce in Malaysia.
What Are the Top E-Commerce Brands in Malaysia?
You’ll find international brands like eBay, Lazada, Zalora and Shopee to be very popular in Malaysia. In addition, locally founded e-commerce businesses are also very successful. The top names in that department include:
- LeLong. The founders joined their decades of e-commerce experience and established this reputable store. It offers everything from kids’ products to gadgets and car parts.
- GoShop. This is the store of the famous shopping channel, which means the platform reaches a large audience daily.
- Zalora. The brand specializes in apparel and lifestyle products. You’ll find many small business brands on the website.
- FashionValet. With their humble beginnings as the pioneer e-commerce business that specialises in bringing to you the best designer brands, they have now grown to include over 400 brands globally on their site.
- Signature Market. Established in 2014, the brand has grown to become one of the most successful healthy snacks brands in Malaysia with their own fulfillment hub.
- BookXcess Online. One of the leading book retailers in the country. They are now able to reach millions of customers from all over the world upon launching their online store in 2018.
Why WeCorporate Is Your Best Choice for Registering an E-Commerce in Malaysia
Here is why you should hire our company:
- We have a skillful team with years of experience in the area.
- Our experts are ready to guide you through the entire process.
- You’ll do everything by the laws and in the shortest possible time.
If you are ready to start an ecommerce in Malaysia, don’t hesitate to contact us today!
FAQs in e-Commerce in Malaysia
- Yes, our team would be able to assist on your compliance requirements from accounting to tax and financial advisory.
- Most e-commerce started out as sole proprietorships and transitioned into private limited companies (Sdn Bhd) as their business grew. You can choose between five different types of entities in Malaysia.
- It depends on each type of business, and the usual duration of the registration process is 3-7 days.
WeCorporate content team comprises experienced in-house and freelance writers who share trending and insightful content to empower and aspire entrepreneurs to change their gameplay in their business in Asia.
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