E-commerce sales in the Asia Pacific region are expected to nearly double by 2025 reaching $2 trillion, according to global market research company Euromonitor International.
The region is predicted to see the highest retailing sales growth in 2020-2025, following Latin America, with digitalization, connectivity and demographics representing the key drivers in the region’s shift into an innovation hub post-pandemic.
In this year’s whitepaper ‘Top 100 Retailers in Asia 2021’, Euromonitor looks at how the APAC region world-class mobile connectivity enables digital transformation and is supported by extremely tech-savvy consumer segments in the region.
In 2020, businesses receiving online orders recorded 37.6 per cent growth and will reach 44 per cent by 2025. Livestreaming experienced an explosive growth in 2020 in tech-advanced markets. Countries like China and emerging economies in Southeast Asia including Indonesia and the Philippines witnessed a surge in social commerce through WhatsApp, Instagram and Viber, says Quan Yao Peh, Research Analyst, Euromonitor International.
