Kuala Lumpur, Malaysia – Ipsos has recently launched new data reflecting on the e-commerce landscape as well as the non-cash payment economy in Malaysia, highlighting how locals are becoming more adept at using non-cash services to make purchases for their online shopping.
Approximately 50% of Malaysians have made purchases on e-commerce platforms in the past six months, up from 39% in 2023. The popular product categories for online shopping include fashion items, groceries, accessories, and electronic devices.
In terms of market share, Shopee retains market leadership but experienced a 6% decline in market share. Meanwhile, TikTok Shop gained an 8% increase in market share, indicating strong competition. It is worth noting that 72% of respondents shopped in Shopee while 43% of respondents used TikTok Shop. Other platforms like Lazada and social media sites saw lower engagement.
Over at non-cash payment options, around 55% of Malaysians have used non-cash payments in the past three months, an increase of 4% from 2023. Moreover, e-wallet usage has increased by 14% compared to 2023, with 92% of e-wallet users reported using e-wallets in the past three months. Daily usage of e-wallets has also risen, with 51% of users aged 25-34 and 42% of users aged 45-74 using them daily.
Touch ‘n Go is the most widely used e-wallet, followed by MAE. There is a notable increase in MAE usage among those aged 35-44 and in the East region .
It is also worth noting that the increase in e-wallet usage is accompanied by a slight decrease in credit card usage, while debit card usage has increased by 2%. Moreover, the most significant growth in e-wallet usage is for retail purchases, food and beverage outlets, and online purchases,
Lastly, younger generations (18-24 years old) show a significant increase in e-wallet usage, with a 21% rise, while online bank transfers are more popular among those aged 35-44.
