Alchemist Codes, the software solutions developer for clients in the e-commerce sector, is pleased to note the latest e-commerce spend data that shows strong year-on-year growth across all main retail categories in Malaysia.

The annual e-commerce spend by consumers in 2018, by e-commerce, e-travel and digital media category, is estimated as follows:

Source: Datareportal (2019). Digital 2019 Spotlight: Ecommerce in Malaysia
* include streaming

The Malaysian government has been making a real effort to push the growth of the e-commerce sector. It set up the National e-commerce Council (“NeCC”), which comprises various ministries and agencies, to drive the implementation of the National e-commerce Strategic Roadmaps. The goal of these roadmaps is to double Malaysia’s e-commerce growth rate to reach a GDP contribution of US$53 billion by 2020.

Under the National e-commerce Strategic Roadmaps, the NeCC is running an innovation program that is designed to achieve a number of areas, including:
● accelerate seller adoption of e-commerce;
● increase adoption of e-procurement by businesses;
● lift non-tariff barriers (e-fulfilment, cross-border, e-payment, consumer protection);
● realign existing economic incentives;
● make strategic investments in select e-commerce player(s); and
● promote national brand to boost cross-border e-commerce.

Commenting on the news, Charles Yong, Alchemist Codes’ Founder and CEO, said: “The e-commerce sector goes from strength to strength and is clearly benefitting from the innovation program run under the National e-commerce Strategic Roadmaps. We believe that there is great development potential for the e-commerce sector in Malaysia and hope that Alchemist Codes can be one of the key businesses that drive this growth.”