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One of the largest countries in South/Southeast Asian industry, Malaysia has witnessed growth and change in the post-colonial era. Malaysia is a successful example of ethnic integration: about half of the population of the country is native Malay, followed by large Chinese and Indian populations.
The Covid-19 pandemic has kicked ecommerce market into overdrive. Analysts estimate a 2020 year-over-year growth rate of 24.7%. By the end of 2024, the market should reach over $12 billion in annual sales (currently at $4 billion). The market’s largest segment is fashion, with a projected market volume of $1.4 million in 2020 followed by travel, consumer electronics, furniture, and household goods.
Southeast Asia was already a fintech and an ecommerce hub, but 2020 has seen a resounding increase in the speed with which the region accelerated toward online payments in ecommerce, riding the trend created by the Covid-19 pandemic swiftly into establishing a cashless society as the new norm.
Cross-Border Fulfillment: Landed Cost is Available.
In-Country Fulfillment: Not available