Research says, E Commerce sales will boom in Asia

2021/08/03
According to global market research firm Euromonitor International, e-commerce sales in the Asia Pacific area are predicted to nearly treble by 2025, hitting $2 trillion.

Following Latin America, the region is expected to witness the strongest retail sales growth in 2020-2025, with digitalization, connectivity, and demographics serving as important drivers in the region’s post-pandemic transformation into an innovation hub. Euromonitor examines how the APAC region’s world-class mobile connectivity enables digital transformation and is supported by exceptionally tech-savvy customer segments in this year’s whitepaper, “Top 100 Retailers in Asia 2021.”

 

Businesses that accept online orders grew by 37.6% in 2020, and will increase to 44% by 2025. In tech-advanced markets, livestreaming grew at a breakneck pace in 2020. According to Quan Yao Peh, Research Analyst at Euromonitor International, countries like China and growing economies in Southeast Asia, such as Indonesia and the Philippines, have seen a spike in social commerce via WhatsApp, Instagram, and Viber.

 

Source: Textile Focus