International E-Commerce Market to see Ongoing Evolution | Major Giants Shopee, Tokopedia, FPT Shop
Updated · May 22, 2023
The Southeast Asia International E-Commerce market is projected to see a growth rate of 9.9% and may see a market scope of USD 17.5 Billion by 2028.
Published Via 11Press : A significant development trend of globalization, worldwide e-commerce has changed the dynamics of international trade. During the projection period, it is anticipated that Asia, the area with the fastest-growing e-commerce market in the globe, would provide the key three fastest-growing nations internationally, which include Malaysia, Indonesia, and India. Additionally, the absence of brands in the area is largely to blame for the expansion of the worldwide e-commerce business in Southeast Asia. The majority of global brands from various industries do not have packaging or other facilities in the region; instead, they sell their products through e-commerce platforms.
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An additional important element driving demand for branded goods or the regional international e-commerce sector is the growing spending power of the middle class in Southeast Asian nations. Due to varying customer tastes and market maturities, the Southeast Asian e-commerce sector is fragmented, necessitating a market-to-market play that uses local resources. The majority of Southeast Asia remains inaccessible, creating distinct & various last-mile issues. For instance, Indonesia is home to almost 6,000 islands and has a rural population of 45%. In Singapore, there are 84.5% of people online, compared to 48.6% in Cambodia. Additionally, due to the existence of millions of consumers who are still using cash-on-delivery methods of payment, the region’s e-commerce market is still dominated by this mode of payment.
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
Due to new techniques used by participants in the international e-commerce business, it is anticipated that the rivalry will get even fiercer in the upcoming years. International E-Commerce research study delivers information on the competitive environment and the product/service offerings of top firms to assist customers in increasing their revenue shares in the sector. This international e-commerce industry study also identifies critical areas for businesses to concentrate on and proposes techniques that may be used to maximize development prospects.
Major Leading Players Involved:
The Gioi Di Dong
Dien May XANH
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- 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.
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- 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
Content has been published via 11press. for more details please contact at [email protected]
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