E-commerce in the Asia-Pacific region - statistics & facts
Due to its rapidly evolving digital landscape, the Asia-Pacific region (APAC) has emerged as a powerhouse in e-commerce. With better internet access and technological advances, along with the efficient, effective, and quick distribution of goods, consumers across the region have turned their attention from physical to online shopping. The e-commerce market in APAC has grown significantly since it emerged as a global, dominant force, with multiple markets generating the highest e-commerce revenues worldwide.
New ways of commerce
One of the key drivers of e-commerce growth in APAC is the adoption of new technologies. With widespread smartphone usage and internet adoption, mobile commerce has shaped the way consumers shop. As it is possible to have access to online retail right in one’s pocket, e-shoppers make purchases frequently via a mobile phone, with South Korea leading in APAC.
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Social media has also been a driving force in stimulating the expansion of the e-commerce sector throughout APAC. Social media platforms have seized the opportunity to advertise and sell goods by providing direct links to online retailers. Known as social commerce, some social media channels even double as an online marketplace, enabling consumers to complete purchases without leaving the app. Among social commerce purchases, clothing emerged as the most popular category across most leading APAC markets. Moreover, the usage of live commerce is high in some markets, as consumers can get detailed explanations similar to TV shopping through a live stream.Ìý
New wave of consumers
China, Indonesia, and South Korea rank as some of the leading e-commerce markets throughout the region, accounting for significant shares of total retail e-commerce sales in the world. China houses some of the leading e-commerce companies in the region, such as Alibaba, Pinduoduo, and JD.com. However, in Southeast Asia, e-commerce has also witnessed a rapid increase in online shopping, driven by platforms like Lazada and Shopee. The Southeast Asian e-commerce market was forecast to increase exponentially in value compared to 2019.
