E-commerce in the South East Asia (ASEAN) has grown by more than 62% Compound Annual Growth Rate (CAGR) over the past 3 years according to the Google-Temasek e-Conomy SEA 2018 report. The report also estimates that e-commerce will exceed $100 billion in Gross Merchandise Volume (GMV) by 2025, from $23 billion in 2018. So, we expect that in 2019 the digital economy – and e-commerce in particular – will continue to shine.
At a time when consumers have limitless shopping choices, both offline and online, experiences are the new currency. Consumers want more than just to shop for what they need – they want to discover new products, be entertained, and even engage with the community and friends. As a result, online shopping in Southeast Asia is becoming an increasingly social, which increasingly immersive experience.
The e-Commerce in ASEAN has outpaced the digital industry in Southeast Asia. With their rising internet users, the eCommerce landscape of Southeast Asia has shown tremendous growth in the past following years. Having reached more than 330 million Internet users, the six largest economies in ASEAN eCommerce market have outlined to continue at an annual rate of 17.7% until 2020.
The increase of mobile usage in the Southeast Asia, has made online commencing even easier. The Facebook groups, YouTube channels, and all other digital platforms tend to bind the sellers and buyers together. Thus, making their communication way quicker and easy. Also make sure your website is well-designed and works seamlessly both in mobile and desktop.
In places like Indonesia, the growth of the upwardly mobile generation of middle-class consumers and rapidly improving smartphone penetration means the importance of consumers outside the capital regions (Jabodetabek) is constantly rising – this group accounts for approximately 90% of the total population of Indonesia, yet has traditionally been an afterthought in many brands’ retail strategies. This afterthought might soon be the center of focus for many brands in 2019.
E-commerce in ASEAN is equivalent to mine full of wealth. With the ever-rising e-Commerce players, the competition will get even tougher. The ASEAN seem to carry some unique trends unlike with other countries.
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