Southeast Asia’s eCommerce growth is being driven by new 3 trends
In Southeast Asia, the digital economy has grown at a rapid pace. By 2025, the SEA e-commerce market is expected to be worth more than USD 100 billion.
Summary:
- In Southeast Asia, the digital economy has grown at a rapid pace. By 2025, the SEA e-commerce market is expected to be worth more than USD 100 billion.
- Consumers in Southeast Asia are increasingly using their mobile phones to purchase online.
- Companies are attempting to blur the lines between online and physical as consumer behavior continues to evolve.
The three major contributors to the Southeast Asian e-commerce market’s immense growth are affordable telephones with less expensive and more reliable data packages, the development of prominent e-commerce platforms including brands developing their own direct-to-consumer channels, and evolving customer preferences towards an omnichannel strategy.
This amazing rise is fueled by the first trend of expanding the availability of inexpensive mobile phones and the installation of quicker, more dependable telecommunication companies throughout SEA countries. Driven by the rise in availability of connections, users may now find the information they desire and whenever they choose, as 32% of shoppers now have the ability to conduct online research quickly before making an offline purchase, the confidence in online shopping is higher than ever.
The second trend seen is the development and massive expansion of Southeast Asia’s leading e-commerce enterprises continues to be important in the advent of digitalization and internet shopping. By providing millions of items in a variety of categories, it is able to reach consumers from all over the world. These platforms have contributed to the fast-growing popularity of e-commerce by having a huge user and merchant base, eventually leading the way for brands to develop independent platforms utilizing the massive growth in sales and consumer confidence driven by marketplaces.
The last trend is the omnichannel, by including both physical and digital interactions in buyer’s purchase experience, brands are establishing physical presences that go above traditional retail and cater to consumers who enjoy touching and feeling particular product types before obtaining them.
Rapid-moving consumer products companies must jump on board as soon as possible since e-commerce offers brands the potential to not only attract new customers but also to generate sales growth and remain relevant to current ones.
