The Chief Economist of Bank Muamalat Malaysia Berhad, Dr Mohd Afzanizam Abdul Rashid, recently revealed that Malaysians spent an average of RM1,735 per month or RM57.83 per day on e-commerce platforms last year.
This estimation was based on data published by the Department of Statistics Malaysia (DOSM) in 2024 which asserted that the growth of expenditure on e-commerce platforms among Malaysians increased by 15.4% annually.
Malaysians spent RM707.9 billion on online shopping in 2024
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Dr Mohd Afzanizam was quoted by Sinar Harian as saying that based on the data, it can be estimated that Malaysians spent a whopping RM707.9 billion last year on e-commerce platforms.
Moreover, this figure is equivalent to 36.7% of our country’s gross domestic product (GDP). He added that this percentage is much higher when compared to 10 years ago when expenditure on e-commerce platforms was 16.6% of the nation’s GDP.
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Meanwhile, DOSM Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin recently revealed that a total of 70.6% of Malaysians purchased goods and services via e-commerce platforms in 2023.
Sinar Harian quoted Dr Mohd Uzir as saying that the figure was a slight increase from the 70.4% recorded the year prior and 64.7% in 2021.
These statistics were part of DOSM’s Individual and Household ICT Usage and Access Survey (ICTHS), which also found that 97.7% of Malaysians used the Internet in 2023.
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So, what do you guys think of Malaysians spending RM1,735 per month on online shopping? Do share your thoughts with us in the comments.
