The online retail market in Southeast Asia will grow by 53% in 2021 From Forrester

The following is the The online retail market in Southeast Asia will grow by 53% in 2021 From Forrester recommended by recordtrend.com. And this article belongs to the classification: Forrester, Electronic Commerce.

According to Forrester’s latest forecast, COVID-19 has prompted Southeast Asian consumers to turn to online channels. Due to the good performance of all categories, the regional market will grow by 53% in 2020.

Last year, the new crown pandemic affected the offline retail industry in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, but the offline retail industry transferred to online performed well. The region has become the fastest-growing online retail market in the world, especially groceries, which has experienced the fastest growth in history.

Main findings

Online retail in the region has increased by more than 50% over 2019 and will reach 7.6% by 2020. Forrester predicts that the proportion of online retail in total retail sales will double to 15% in 2025.

The significant factors affecting the market with good sea performance are national development, category growth and buyer growth.

Indonesia is the largest market in the region, accounting for about half of the whole e-commerce market, with an increase of 50% in 2020.

The Philippines grew the fastest, with online retail growing by 68%; Its online retail growth is comparable to that of Argentina, which is the fastest growing in Latin America.

In 2020, all categories in the region showed significant growth, of which the growth rate of groceries was the highest, reaching 97%.

Consumer electronics, including smartphones, led overall spending with 31% of online retail share and 62% growth rate.

Online retail sales in the second largest category of clothing industry increased by 34%.

overall situation

The offline retail industry in Southeast Asia contracted due to the forced closure of stores, but retailers and brands strengthened their digital business in order to meet the change of demand. New ways of contacting consumers have emerged, and the market has actively joined the category of insufficient services. The focus has also shifted to improving delivery times, driving investment in last mile delivery startups. More reading: Forrester: U.S. e-commerce sales reached $231 billion in 2012 Forrester: e-commerce in the Asia Pacific region increased by 16% in 2020 Forrester: U.S. network sales will reach $327 billion in 2016 Forrester: half of e-commerce business in 2010 came from tablet terminals Forrester: five trends of global e-commerce market in 2014 Forrester: U.S. e-commerce in 2014-2019 Business forecast report Forrester: in 2016, the share of offline retail sales driven by network in the Asia Pacific region reached 20%. Forrester: it is estimated that the transaction volume of mobile commerce in the United States will reach 114 billion US dollars in 2014. Forrester: the new trend of digital transformation of B2B e-commerce in China in 2016 (attached report) Forrester: it is estimated that the consumption of us Christmas online shopping season in 2014 will reach US $89 billion, with a year-on-year increase of 13%. Forrester: the sales of us shopping season in 2014 will exceed US $78.7 billion. Forrester: there is great potential for the development of retail e-commerce in the Asia Pacific region from 2015 to 2020. Forrester: mobile terminals will become the main e-commerce in 2018. Forrester & Facebook: 2018 global cross-border e-commerce marketing white paper Forrester: India’s online retail sales will reach US $64 billion in 2021

If you want to get the full report, you can contact us by leaving us the comment. If you think the information here might be helpful to others, please actively share it. If you want others to see your attitude towards this report, please actively comment and discuss it. Please stay tuned to us, we will keep updating as much as possible to record future development trends.

RecordTrend.com is a website that focuses on future technologies, markets and user trends. We are responsible for collecting the latest research data, authority data, industry research and analysis reports. We are committed to becoming a data and report sharing platform for professionals and decision makers. We look forward to working with you to record the development trends of today’s economy, technology, industrial chain and business model.Welcome to follow, comment and bookmark us, and hope to share the future with you, and look forward to your success with our help.