Asian e-commerce is booming. By 2030, the e-commerce market value of Southeast Asia will reach 1 trillion US dollars. By 2035, the value of the Indian e-commerce market is expected to reach $ 350 billion, making it a third largest e-commerce market in the world.
In Asia, some national e-commerce markets have more potential and more rapid. The following is four e-commerce markets worthy of attention in Asia: 1, Indonesia
The study pointed out that Indonesia’s e-commerce market is currently worth $ 24 billion, which is expected to grow to $ 54 billion in the next four years. And this rapid growth will remain stable. Indonesian consumers have habitually habits and are keen on online shopping, and 75% of adults have smartphones and online shopping potential is huge. 2, Malaysia
In ASEAN countries, more than 85% of Malaysians have bank accounts, the country’s e-commerce market currently worth $ 7 billion, and will be almost doubled to $ 13 billion by 2025. Cross-border e-commerce is a normal, almost 60% of Malaysians will shop in foreign business.
Therefore, Malaysians are obviously willing to try new suppliers to find cheap goods. According to the “2021 Malaysian Digital Economic Blueprint”, the government’s support for e-commerce has strong support, and the penetration rate of e-wallets is constantly improving. 3, Singapore
The newly launched “Payment Yearbook” shows that 44% of Singapore’s electronic commerce is already cross-border. At present, the total value of the country’s e-commerce market is $ 6 billion, but it is expected that the market will increase by more than 83% in the next four to five years.
Since the epidemic, the country’s online grocery market has increased by 120%, even in the event of an epidemic blockade, Singaporeans will use their favorite E Netcom, GrabPay, PayNow and various BNPL plans for online shopping. 4, India
India is the world’s second largest population. The penetration rate of smartphones has reached 700 million, and it has grown rapidly, which is attributed to the government to promote digital payment policies. The country’s e-commerce market is worth $ 60 billion, which is expected to grow to at least $ 120 by 2025.
India’s cross-border e-commerce accounted for one-third ($ 15 billion), which indicates that people are willing to try new retailers. Many local credit cards do not support cross-borders, so use their local favorite payment method, such as UPI, Rupay and PayTM, which is critical to entering this market.
If you want to know or have any needs, you can contact the author at any time. The company began to focus on the local e-commerce market in Southeast Asia, providing local stores, international logistics, overseas warehouses, payments, and registration of Southeast Asian companies.
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