China’s booming ecommerce sales tend to grab most of the attention when we talk about businesses opportunities in APAC, and it’s understandable that foreign companies are drawn to more mature markets.
However a new report from Econsultancy and Hybris reveals that businesses shouldn’t overlook the emergence of South-East Asia’s rapidly evolving online space and the myriad opportunities that swift ecommerce adoption is starting to foster.
ASEAN nations currently account for 9.6% of the APAC online population, a figure which is obviously dwarfed by China (54%) but at 62m people it’s not an insignificant market.
There are also strong indicators that ecommerce usage is reaching a tipping point. For example, just under three-quarters (73%) of Singapore’s population is presently connected to the internet, one of the highest in the region.