Asia Pacific’s e-commerce sales are expected to nearly double by 2025, reaching US$2 trillion, according to global market research company Euromonitor International, reported Bernama. (US$1 = RM4.140)
The region is predicted to see the highest retailing sales growth in 2020-2025, following Latin America, with digitalisation, connectivity and demographics representing the key drivers in the region’s shift into an innovation hub post-pandemic.
In this year’s whitepaper, ‘Top 100 Retailers in Asia 2021’, Euromonitor looks at how the APAC region’s world-class mobile connectivity enables digital transformation and is supported by extremely tech-savvy consumer segments in the region.
According to a statement, last year businesses receiving online orders recorded 37.6% growth and will reach 44% by 2025.
As the retail landscape becomes more competitive with players fighting to stay relevant in the digital space, localising the shopping journey to individual markets and personalising the retail experience to various customer segments in Asia Pacific will be essential.
Euromonitor International senior research analyst, Deepika Chandrasekar said, “As consumers connect and shop online more than ever, an increasing number of brands are expected to tap into social media to virtually engage and build trust with consumers in addition to serving as retailtainment.”