The ASEAN e-commerce retail market is growing at a considerable CAGR of around 14.0% during the forecast period (2021-2027). The major factors that drive the growth of the ASEAN e-commerce retail market include the increasing smartphone, and internet penetration, increase in online sales accessibility of mobile e-commerce. large population with rising purchasing power due to strong macroeconomic growth in ASEAN, and incremental trust in the logic of online purchases boost the market growth. Moreover, the direct channel of distribution allows the e-commerce companies to cut costs as compared to local retailor which results in increased sales. cost-effective products with great offers and a rise in the launch of new products are also the factors that drive the growth of the market.
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The market share is also estimated to increase with the rise in new players in the region owing to more people increasing their interest in online shopping. However, the high cost of logistics and reverse logistics for the transfer of products and goods, shortage of payment options in the region, and inefficient road connectivity are the restraints that affect the growth of the market. Most of the logistics companies charge high for shipping and lacks tracking facilities. Conversely, the stepping of new players in the e-commerce industry is creating enormous opportunities for market growth in the country. For instance, In March 2021, ASEAN online fashion and lifestyle company Zalora introduced the Algonomy Hyper-Personalization Suite to offer real-time, personalized interactions across all touchpoints on its customer’s digital journey, including product recommendations, browse, and content, and search. The company will influence the Algonomy real-time Customer Data Platform (CDP) to merge customer interactions and activate personalized experiences online. Algonomy’s supporting library of above 150 pre-built personalization algorithms aid to confirm shoppers are engaged with the right set of product commendations.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
ASEAN e-commerce retail market Report Segment
By Type
- Business to Consumer
- Business to Business
- Customer to Customer
By Product
- Electronics
- Fashion
- Books and Magazines
- Home Decor
- Healthcare
- Automobile
- Sports
- Beauty and Personal Care
- Kitchenware
- Others
By Device Used
- Smartphone
- Tablets
- Personal Computer
ASEAN e-commerce retail market Report Segment by Region
- Thailand
- Singapore
- Malaysia
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the ASEAN e-commerce retail market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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