Prodigious growth foreseen for online commerce in Southeast Asia through 2025
This new report Southeast Asia B2C E-Commerce Market 2018 forecasts eight-times the sales volume of last year by the middle of the next decade. Ycel Yelken, CEO of yStats.com commented on releasing the publication, increasing connectivity, especially through mobile technology along with improvements in infrastructure are driving strong growth across this dynamic region."
Though online shopping currently registers only about 1% of total retail sales in most countries of Southeast Asia, the region is prepared for rapid expansion of B2C E-Commerce. Over 500 million people live in the six nations covered in this new report, and that population in increasingly connecting to the Internet and moving toward making purchases online, with an eight-fold increase in online sales volume expected by 2025 compared to 2017. Indonesia, already the online sales volume leader in the region, is projected to have the highest growth rate in the region.
Several factors contribute to the rapid growth of B2C E-Commerce. Shoppers in Southeast Asia are warming to the concept of online shopping because of ability to see item reviews and compare prices in a wider product offering. The wider offering is a result of growing number, and competition among the online merchants, as well as improvements in the payment and delivery infrastructure. Still, the report includes surveys indicating that many potential online consumers lack trust in the online purchase process or balk at perceived high delivery fees or long delivery times.
The marketplace model of online retail is expanding in Southeast Asia, though sales through social media are pronounced especially in Vietnam, Indonesia, Thailand and the Philippines. The top online retailer and marketplace host in the region is Singapore-based Lazada, backed by China's Alibaba. Amazon and JD.com are also expanding in the region, and local brick and mortar retailers are turning to online sales as well. The publication reports that the top categories in online sales throughout the region are fashion items and electronics, with online purchase of services such as travel also expanding.
Questions Answered in this Report
- What is the projected size of the B2C E-Commerce market in Southeast Asia by 2025?
- Which countries in the region have the highest potential for online retail sales growth?
- What are the top product categories purchased online in Southeast Asia?
- How do Southeast Asia's online shoppers prefer to pay for their digital purchases?
- Who are the leading E-Commerce market players in Southeast Asia?
Key Topics Covered:
1. Management Summary
- Alibaba Group Holdings Ltd.
- Amazon.com Inc
- Ayala Group
- BF Jade E-Service Philippines Inc
- Celcom Planet Sdn. Bhd.
- Central Group
- EZbuy International Pty Ltd
- FPT Corporation
- Facebook Inc
- Giosis Group
- Globe Telecom Inc
- JG Summit Holdings
- Lazada Group SA
- Mobile World Group
- PT Bhinneka Mentaridimensi
- PT Bukalapak
- PT MetraPlasa
- PT Tokopedia
- PT XL Planet Digital Tbk
- Sea Ltd
- Sendo JSC
- VNG Corporation
For more information about this report visit https://www.researchandmarkets.com/research/6lmmb7/southeast_asia?w=4