We are overly excited to release this week our latest White Paper on the State of eCommerce in SEA, leveraging iPrice’s proprietary data from more than 1,000 eCommerce merchants across the region… Still, Lazada remains the most visited e-commerce platform in Malaysia, Singapore, the Philippines and Thailand, according to the study. ASIAN DEVELOPMENT BANK 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines www.adb.org Embracing the E-commerce Revolution in Asia and the Pacific Asia is the world’s largest e-commerce marketplace and continues to grow rapidly. In comparison, a new company can incorporate in Singapore in as little as 15 minutes. Southeast Asia faces logistics challenges that it must overcome for the e-commerce industry to grow. A printed copy of the product will be shipped to you. As we’ll explore in greater detail below, Thailand’s online travel sector grew by 28 percent last year, adding more than US$900 million in the space of just 12 months to reach a total market size of … In fact, according to PayFort, the Middle East e-commerce market would grow to US$69 billion by 2020, almost doubling in size in just a few years. Second largest country in Southeast Asia, the Philippines is a large and rapidly developing market for e-commerce. Lastly, the government of Singapore is world renowned for its efficiency and low rates of corruption. The strong legal system in Singapore allows for the fastest resolution times for contract disputes in all of Asia. Online Media and Online Travel keep growing at a steady rate, with ample room to expand further. Should you pursue funding for your startup? The growth of Southeast Asia’s internet economy brings new opportunities for e-commerce. Here’s the breakdown of where the region’s at and where it’s headed. This product is a market research report. Now with 83% control, Alibaba plans to leverage Lazada’s already established operations in Singapore, Thailand, Malaysia, Indonesia, Vietnam and the Philippines to expand into Southeast Asia. E-commerce set to burgeon in SEA Affordable and personalized Singapore Corporate Services delivered by experts - Incorporation, Compliance, Accounting, Taxes, Immigration, and Advice. E-commerce, which is expected to grow by 261% between 2016 and 2021, is one of the region’s most explosive sectors. After 2000, the e-commerce market was mainly dominated by business-to-business ... Malaysia rapidly spread out to neighbor countries and figure now among the more visited and efficient websites in South-East Asia. By then, these 45.77 million eCommerce users will spend an average of US$48.72 online. Internet penetration in the region is increasing. Specifically, there is: Mainland Southeast Asia, also known as Indochina, includes: At present, the Asia-Pacific region already leads the pack in global B2C e-commerce, according to a 2015 Research and Markets report. Approximately 99% of all imports and exports are tariff exempt in Singapore; this lowers the cost of goods bound for other AEC nations. It … An in-depth look at local ecommerce markets for six of Southeast Asia’s largest economies: Indonesia, Malaysia, The Philippines, Singapore, Thailand, and Vietnam. Which countries in Southeast Asia lead by online retail sales and growth rate? More recently, Google partnering with Temasek, released a report titled ‘ e-conomy SEA: Unlocking the $200 billion digital opportunity in Southeast Asia ’ that sizes the current ecommerce market at $5.5 billion (as of 2015) and foresees it to grow into an $88 billion market as early as 2025. New business models, online platforms and logistics companies will all be needed to keep up with fast growing demand. The 10 members have a total population of approximately 625 million. 2018 was the year e-commerce established itself as one of the region’s fastest growing sectors. A study conducted by PayVision shows that “an estimated 55% of all e-commerce in Singapore and 40% of all Malaysian e-commerce is cross-border, an extremely high percentage compared to cross-border e-commerce figures for Japan (18%) and South Korea (25%)”. What is the projected size of the B2C E-Commerce market in Southeast Asia by 2025? In addition, the Singapore government has passed forward-thinking e-commerce policies to protect consumers—a key step to building trust with Southeast Asian shoppers who see a high amount of fraudulent activity. The publication indicates that the growth in this part of the world has attracted the attention of regional and global online merchants as exemplified by Alibaba’s partnership with Singapore-based Lazada. Southeast Asia will be the next major boom market for e-commerce in Asia-Pacific (APAC), Marc Woo, Google’s head of e-commerce, travel, and financial services, told the Bangkok Post recently. While Amazon and eBay failed to enter e-commerce market in China, they have managed to establish a significant footing in the still-developing Indian market. A study conducted by PayVision shows that “an estimated 55% of all e-commerce in Singapore and 40% of all Malaysian e-commerce is cross-border, an extremely high percentage compared to cross-border e-commerce figures for Japan (18%) and South Korea (25%)”. B2C E-Commerce expanding rapidly in the Philippines While rapid growth rates of online sales are characteristic of the six countries covered in this report other than Singapore, already a mature market, it is the Philippines that is the growth leader in Southeast Asia. Which devices, products, and payment methods do Southeast Asian online shoppers prefer? As stated by Roger Egan, the CEO of Singapore based online grocer RedMart, “The lines are blurring between logistics and e-commerce. All of which Singapore is more than ready to provide. Support the development of Singapore's entrepreneurial communities; Foster a vibrant entrepreneurial culture in Singapore; Encourage entrepreneurs who wish to enter the Asian market to consider Singapore; and. With its dynamic economy and developed infrastructures for digital technologies, Malaysia is a very attractive market for e-commerce in Southeast Asia. The disproportionate trend is best explained by Singapore’s reputation for ease of doing business. According to Export.gov, a website run by the US Department of Commerce and other government agencies, Taiwan has one of the highest e-commerce penetration rates globally, with a market size of US$37.6 billion in 2016. Apart from online platforms, logistics companies have also received new investments. In 2011, the Chinese government instituted a five-year plan to prioritize the development of the service economy. Still haven't found what you're looking for? Moreover, 190 million people in this region are now considered middle class with disposable incomes ranging from US$16-100 per day. The survey, developed in collaboration with Nielsen, aims to identify consumer-packaged-goods (CPG) companies’ winning practices in commercial functions including marketing, portfolio management, pricing, and trade … Both of these signal growth for the e-commerce market in the region. This is a 1-10 user license, allowing up to ten users have access to the product. At the start of 2017, SEA Ltd. (formerly Garena) received US$ 757 million in funding in order to expand its Indonesian based e-commerce store Shoppee. What is the projected size of the B2C E-Commerce market in Southeast Asia by 2025? Chinese companies like Alibaba and Tencent are bringing their investments and technology to the Southeast Asian region, Credit Suisse's head of emerging Asia economics said. Malaysia poised to dominate Southeast Asia’s e-commerce market - MDEC . The product is a PDF. to $100 billion for the first time in 2019, more than tripling in size over the last four years. and the size of the overall US eCommerce market. Mariana will help you find what you are looking for. Cross-border e-commerce is expected to witness high growth than the overall e-commerce market, at a global level. Cross-border trade will likely continue to be a driving factor for the growth of e-commerce in Southeast Asia. By 2025, the Internet economy is expected to grow to $300 billion. Dublin, June 09, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Southeast Asia B2C E-Commerce Market … In 2015, Southeast Asia received approximately US$ 1.1 billion in venture capital funding with a total of 355 deals. Based on a report by Google and Temasek Holdings, Southeast Asia’s (SEA) digital market could exceed US$200 billion (S$273 billion) by 2025. Key findings on the most visited e-commerce platforms on desktop and mobile web Shopee takes the reign as the most visited e-commerce platform in Southeast Asia (six countries – Indonesia, Malaysia, Philippines, Thailand, Vietnam, & Singapore) in Q1 2019 with a total average of 184.8 million visitors. And that is very much the Asian model of e-commerce. Finally, much of Southeast Asia has insufficient last mile delivery services. Please submit your order within that time frame to avail of this price as all prices are subject to change. Source: Euromonitor In 2011… Retail Market E-Commerce Market 0.8% 2.8% 0.05% 0.5% NA 0.6% % EC Penetration rate, not inclusive of services 8. Southeast Asia B2C E-Commerce Market 2019. Several websites and digital applications are already present in the Malaysian e-commerce landscape, with some global, regional and national players grabbing their shares. In 1931 Japan invaded Manchuria and subsequently the rest of China and south-east Asia in what eventually became the Asia-pacific leg of ... China's service sector has doubled in size, accounting for 46% of China's total GDP. The US has the second highest number of cross-border online shoppers in the world – 82.72 million – although as a percentage of total online shoppers, it places significantly lower. 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