International E-Commerce Market to see Ongoing Evolution | Major Giants Shopee, Tokopedia, FPT Shop
HTF Market Report
Updated · May 22, 2023
International E-Commerce Market Report Highlights:
|Unit||Value (USD Million)|
|Key Companies Profiled||Blibli.com, Shopee, Tokopedia, Lazada Group, The Gioi Di Dong, Bukalapak, Sendo, Tiki Corporation, Dien May XANH, FPT Shop|
The study covers a detailed analysis segmented:
- Home and Furniture Appliances
- Food and Beverages
Major Leading Players Involved:Shopee Lazada Group Bukalapak Tokopedia Sendo Tiki Corporation The Gioi Di Dong Blibli.com Dien May XANH FPT Shop Buy Now the Latest Version Report @ https://www.htfmarketintelligence.com/buy-now?format=1&report=329
- As part of their marketing strategy, vendors in this industry like Lazada and Shopee are concentrating on increasing consumer engagement by providing amusement & entertainment offers on their platforms by developing live gaming shows & a variety of mini-games in their platforms.
- Another technical development in the industry driving up online buying transactions is the integration of artificial intelligence & voice search engines in e-commerce platforms.
- These technical developments are fostering an increase in online shopping throughout the area as smartphone use and internet usage increase.
- Furthermore, it becomes challenging for users to recognize branded items in the voice search interface.
Market Growth Drivers:
- Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, and other nations are included in Southeast Asia.
- In 2019, 85% of the population in Singapore, 83% of the population in Malaysia, 69% of the population in Thailand, 65% of the population in Indonesia, 64% of the population in the Philippines, and approximately 61% of the population in Vietnam had access to the internet.
- The number of internet employers in Indonesia rose by almost 20% between 2019 and 2018, while the area of Southeast Asia as a whole had a 10% growth between 2019 and 2018.
- In the Southeast Asia area, it is predicted that more than USD 50 billion in e-commerce expenditure was made in 2018, which was 20% greater than in the year before, 2017.
- This is because businesses are using sales channels more frequently to disseminate their goods in the marketplace, there are more products available online, and there is greater internet connectivity, which is all driving more e-commerce expenditure in the area.
- Despite widespread e-commerce use in the area, Southeast Asia’s per-capita e-commerce spending is still less than the worldwide average, particularly when it comes to purchasing consumer products.
- Another significant driver of the increase in e-commerce spending in Southeast Asian nations is the mobile e-commerce platform.
- For instance, more than 70% of internet users in the region in 2019 conducted an online product search, more than 80% accessed an online retailer’s website, and more than 60% completed a purchase using a mobile platform.
- In addition, a second element influencing e-commerce spending in Southeast Asia is the expanding middle class and user penetration.
- According to the current situation, the COVID-19 pandemic would cause nations like Singapore to see the weakest growth rate in a decade in 2020.
- In the year before 2019, Singapore’s economy grew by 0.7%, which is the smallest amount since 2009.
- In addition, the impact of the trade conflict between the United States and China as well as diminished operations in the transportation and logistics sector have hurt the nation’s export-oriented economy.
- In the majority of sectors in both local and foreign markets, the need for online sales channels has recently grown significantly.
- For instance, the COVID-19 epidemic has affected virtually all business sectors worldwide, which has had a favorable effect on the development of e-commerce platforms and the migration of clients from offline to online buying.
- The rise of Indonesia’s internet economy, which is anticipated to reach a value of USD 130 billion in 2025, would help the country’s whole e-commerce industry expand by 50% in FY 2020 compared to the FY 2019 period.
- Another significant opportunity for international e-commerce in Southeast Asian nations is the region’s expanding digital demand, which is caused by the requirement for a stay-at-home lifestyle there.
Key highlights of the Southeast Asia International E-Commerce market:
- Market CAGR from 2022 to 2028, the anticipated projection period
- Detailed information on the market drivers accelerating global e-commerce during the coming few years.
- Forecast of the size of the Southeast Asia International E-Commerce market and its contribution to the parent market by type, application, and country. Detailed insights on future trends and shifting consumer behavior.
- a thorough analysis of consumer demand
- Discover the market’s competitive environment and comprehensive data on different companies.
- Detailed information on the issues that may hinder the expansion of global e-commerce firms
Transformation and Important Triggers:Due to a number of important drivers that have coincidentally been at work, business change is now pervasive throughout the corporate landscape, including:
- A turning instant in globalization;
- Significant changes in the technology and cost structure of the international e-commerce market;
- Difficulties modeled by controlling compliance;
- An important slowdown in established frugality
- The appearance of new participants in the global e-commerce segment
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