To kick off the new subdivisions of Value Nomad, let’s take a look at the numbers of Ecommerce in Malaysia and Singapore
Let’s take a lot of the ecommerce in Malaysia and Singapore market figures, and why this region is some of the most attractive ones for online retailers to promote their business.
Ecommerce in Malaysia 2016
According to the CEO of MOLPay which is one of the leading payment gateways in all ASEAN countries, estimations are that the Malaysian ecommerce market is hovering around a $2 bilion market size.
Around 7 milion Malaysians shop online, and the highest demand is in the segments of travel, vouchers, and entertainment.
Ecommerce in Singapore 2016
A blog post from 2014 indicates that the Singaporean ecommerce market should reach 1 bn dollars in 2014, but the growth is being so exponential that another blog post about Singapore’s ecommerce market suggests that it will reach 6 bn USD in 2020.
With a user penetration of 57%, Singaporeans do enjoy shopping online. The same report by go-globe.com indicates that 60% of purchases are cross borders transactions, mostly of Singapore users buying goods from vendors in Malaysia.
Value Nomad Malaysia and Value Nomad Singapore
Identifying this positive ecommerce trend in Malaysia and Singapore, Value Nomad is launching its Value Nomad Malaysia website as well as the Value Nomad Singapore, to provide users in the region with the best reviews of electronic products available mostly for purchase on the biggest selling portal of the region, Lazada.
The ASEAN countries are at the moment one of the biggest growing economic regions in the world, and unlike Europe or Latin America, which are passing through severe social problems and dilemmas, the Southeast Asia economy is at each year improving not only in terms of Ecommerce, but in other segments which are vital for the health of online business, such as the infrastructure of postal and parcel shipping industry.