Social Commerce In Malaysia
The social commerce industry in Malaysia is expected to grow steadily over the forecast period, recording a CAGR of 41.2% during 2022-2028. The social commerce GMV in the country will increase from US$1,327.5 million in 2022 to reach US$10,232.9 million by 2028.
In SEA, social commerce became the second most popular shopping method, the first being e-commerce, surpassing in-store retail. Malaysia is one of the leading markets when it comes to social commerce adopters. With the rising internet penetration rate of 83%, the number of active social media users has also increased in the country.
Brands x Social Media Influencers
With the increased usage and popularity of social media platforms, Malaysia resulted in a boom in social media influencers. With more consumers being digitally savvy, many businesses and brands have experienced the impact of social commerce. Partnerships with influencers are therefore the driving factor for the growth of social commerce in the country.
Live Streaming Marketplaces
While growing traction among consumers for Livestream sales sessions, a marketplace is launched allowing businesses to leverage the platform’s user base for increased exposure and sales conversions in Malaysia.