Hamburg, Germany, May 05, 2018 --(PR.com
)-- Though online shopping currently registers only about 1% of total retail sales in most countries of Southeast Asia, the region is prepared for rapid expansion of B2C E-Commerce. Over 500 million people live in the six nations covered in the new yStats.com report, and that population in increasingly connecting to the Internet and moving toward making purchases online, with an eight-fold increase in online sales volume expected by 2025 compared to 2017. Indonesia, already the online sales volume leader in the region, is projected to have the highest growth rate in the region.
Several factors contribute to the rapid growth of B2C E-Commerce. Shoppers in Southeast Asia are warming to the concept of online shopping because of ability to see item reviews and compare prices in a wider product offering. The wider offering is a result of growing number, and competition among the online merchants, as well as improvements in the payment and delivery infrastructure. Still, the yStats.com report includes surveys indicating that many potential online consumers lack trust in the online purchase process or balk at perceived high delivery fees or long delivery times.
The marketplace model of online retail is expanding in Southeast Asia, though sales through social media are pronounced especially in Vietnam, Indonesia, Thailand and the Philippines. The top online retailer and marketplace host in the region is Singapore-based Lazada, backed by China’s Alibaba. Amazon and JD.com are also expanding in the region, and local brick and mortar retailers are turning to online sales as well. The yStats.com publication reports that the top categories in online sales throughout the region are fashion items and electronics, with online purchase of services such as travel also expanding.
For further information, see: https://www.ystats.com/wp-content/uploads/2018/05/2018.05.02_Product-Brochure-Order-Form_Southeast-Asia-B2C-E-Commerce-Market-2018.pdf
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Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.