Southeast Asia e-commerce to grow by 5.5% in 2021
Research firm PPRO says local payment methods will be key to taking advantage of this boom.
Southeast Asia’s e-commerce market is expected to grow by 5.5% in 2021, according to a report by research firm PPRO. Singapore, Malaysia, Indonesia, Philippines and Vietnam are the top-5 Southeast Asian markets leading the charge when it comes to market growth over the coming year.
Indonesia is set to surpass India in terms of ecommerce market growth, with 55% of Indonesian consumers claiming to buy online more than ever. Malaysia has also demonstrated growth of retail spending, supported by 40% of consumers using e-wallets for online purchases more than during pre-pandemic days.
Payments are key to merchants making the most of this opportunity. For example, 40% of Malaysians consumers have increased the use of digital payment methods such as e-wallets in the wake of the pandemic.