MYR1.8b Spent Online Last Year, Set To Grow To MYR5b In 3 Years
Malaysians last year spent RM1.8 billion shopping online, according to results of an online shopping survey released by PayPal. The payment gateway provider estimates that the market will grow to RM5 billion in 2014.
Malaysians for the most part chose to make online retail purchases on local websites to the tune of RM825 million (45 per cent) compared with RM627 million on overseas websites (35 per cent). The remaining RM371 million were made on websites of unknown countries of origin.
Most of the online spend was for airline tickets. This accounted for 21 per cent (RM173 million). It was the same overseas, accounting for 11 per cent (RM72 million). Books came a close second at 10 per cent (RM63 million).
An estimated 1.1 million online shoppers in Malaysia spent an average of RM2,461 per person in 2010.
Malaysians spent more locally compared with foreign sites; on airline tickets, financial products, health and beauty products, clothing, shoes and accessories.
When Malaysians spent overseas, 65 per cent said it was because the products were not available locally. Twice as much was spent buying books overseas compared with domestic websites, as well as on movie, music and games downloads.
Source: http://www.themalaysianinsider.com/business/article/malaysians-spent-rm1.8b-shopping-online-last-year-mostly-on-airline-tickets/
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The above facts are summarized from a report made by PayPal. Are you able to sense some money from it?
If you are not rich today because you missed the last boat leaving the dock, do not worry, another boat to the land of riches and opportunity is getting ready to sail. The question is, will you be on it?
