Online ecommerce shopping becomes popular for online consumers to purchase goods or services from sellers of over the internet. It is no longer just a trend, but a lifestyle as consumers everywhere are taking advantage of the convenience of ordering anything and having it delivered right to their doorstep. The prevalence of online shopping has also increased the retailers’ interest to concentrate on this area as e-commerce is no national and international barriers.
1. E-commerce has overtaken online travel as biggest sector of Internet economy
In just 4 years, e-commerce has overtaken online travel as biggest sector of internet economy as it has traced a hyperbolic growth trajectory from 2015 to 2019. According to the e-commerce stats from SmallBizGenius, 14.1% of global retail sales were made online in 2019 and there will be 2.1 billion digital buyers worldwide in 2021 up from 1.66 billion in 2016. Therefore, it is not surprising to know that there are 5 million average number of e-commerce orders per day.
2. Southeast Asian Internet economy on track to hit US$300 bil by 2025
It is predictable that Southeast Asia (SEA) will achieve US$300 billion Internet economy in 2025. In 2019, Southeast Asia Internet economy has continued to surge on accelerating growth which shows the value of Internet economy has more than tripled between 2015 (US$32 billion) and 2019 (US$100 billion). The accelerating growth has exceeded all expectations and Southeast Asian internet economy on track to hit US$300 billion by 2025.
3. 52% of SEA's Internet economy is made up of seven metro areas
There are several of largest urban areas in Asia and 52% of SEA’s Internet economy is made up of seven metro areas which are Greater Bangkok, Kuala Lumpur and Klang Valley in Malaysia, Singapore, Hanoi HCMC, Metro Manila, and Jabodetabek in Indonesia. For Internet economy players in SEA, majority of active orders are derived from these populated urban areas which together account for more than half of Internet economy of region.
4. How SEA's e-commerce market stacks up against the largest online sale event on the planet
E-commerce has become a unique social experience with the combination of excitement and entertainment when comes to online promotions. There is always a good reason for consumers to shop online such as Black Friday in the US, Singles Day (11 November), 12.12 (12 December), and many more, while sales are always on. Incidentally, Alibaba Singles’ Day e-commerce revenue reached US$38.4 billion in 2019.
5. Mobile e-commerce app with the most monthly active users in Southeast Asia
Today, there are many mobile e-commerce applications with the most monthly active users in Southeast Asia such as Lazada, Shopee, Taobao, Tokopedia, and so on. Mobile e-commerce application is another option to purchase goods and services online as it is better user engagement than online shopping websites, and it helps online sellers to have a better view of consumers’ preferences and activities.
Online shopping becomes a high income generating activity in many countries which makes businesses around the world becoming greatly attracted towards virtual world. Therefore, it is important for sellers and marketers to strategized marketing tools to entice more consumers in this highly competitive online marketing platforms.