Southeast Asia has seen unprecedented growth in 2017, an economy where users spend an average of 3.6 hours per day on the mobile internet. This is much more than the matured markets as mobile internet users spend an average of 1.8 hours in UK, and average of 2 hours in the US. As per the study released by Google and Temasek in Dec 2017, Southeast Asia has emerged as a region with solid growth in all sectors that includes online travel, online media, eCommerce, and ride-hailing. And it does not stop here, as Southeast Asian eCommerce market is expected to grow at a much faster pace in the coming years and might exceed US$25 billion by 2020.
Recently, Alibaba, a Chinese multinational e-commerce, retail, Internet, AI, and technology conglomerate doubled down its investment on Lazada by increasing its share from 51% to 83%. As per Lazada’s CEO – the investment shows the positive growth in Southeast Asia’s eCommerce market and huge potential in the region is foreseen by Alibaba. Also, Southeast Asia looks promising for an explosive growth as the research from Google and Temasek Holdings predicts that e-commerce sales in the region will grow at a 32% CAGR from $5.5 billion in 2015 to $88 billion in 2025.
3 Factors that are Unique to Southeast Asia driving its eCommerce growth:
SEA’s strong economy, rising international investments and advancing economic growth has laid a decent foundation for the region to become a leader in the online market. With that, here are some of the trends to modernize the eCommerce market in the SEA with more and more options becoming available to customers.
5 eCommerce trends in Southeast Asia that will rule the world in 2018:
Thus, the penetration of social commerce in the Southeast Asian countries have provided the opportunity to the small sellers to scale with ease.
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