A Forrester report estimates that Southeast Asia’s e-commerce market will grow to $53b in five years.
Southeast Asia’s economic growth in the field of e-commerce has increased significantly, with a prediction of it reaching $53 billion by 2023. The countries included here are the driving forces of e-commerce in SEA such as Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Vietnam.
With a foundation of an increasing spending habit, it is attracting huge investments from the Chinese tech sector to invest especially e-commerce infrastructure. With giant titans like Alibaba, Baidu, etc. investing in SEA’s key players like Shoppee and Lazada in the company’s acquisitions and logistics.
One particular country of focus, that Investors are interested in Indonesia, is due to 41% of all online transactions in SEA coming from Indonesia. In addition to, large retailers being based in Indonesia and its GDP allocation going into its logistic and transportation network.