DUBLIN–(BUSINESS WIRE)–The “Asia Pacific B2C Ecommerce Market Opportunities Databook – 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics – Q2 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
The B2C Ecommerce market in the Asia Pacific is expected to grow by 12.53% on an annual basis to reach US$3,468.6 billion in 2022.
The medium to the long-term growth story of the B2C Ecommerce industry in the Asia Pacific promises to be attractive. The B2C Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 11.21% during 2022-2026. The region’s B2C Ecommerce Gross Merchandise Value will increase from US$3,082.3 billion in 2021 to US$5,306.2 billion by 2026.
While the e-commerce industry in the Asia Pacific region was experiencing a year-on-year growth even before the global pandemic, the Covid-19 outbreak accelerated the consumer shift to online channels in the country. The movement restrictions and the close down of physical stores led to increased online transaction volume and value over the last two years. One of the trends which gained widespread adoption in the Asia Pacific region was the preference to shop online in the wake of the pandemic outbreak, which affected the livelihood of many people.
As online shopping continues to gain widespread adoption among consumers, increased spending on e-commerce marketplaces is expected to drive industry growth in the short to medium term. Apart from the rise in online retail shopping, the demand also increased in the grocery segment, where a growing number of consumers ordered food and grocery online in the country during the pandemic. With firms experiencing strong demand, players are expected to increase their investment in the online grocery delivery space from the short to medium-term perspective, which will subsequently keep driving the industry growth in the Asia Pacific region.
In China, the B2C e-commerce market has a very competitive landscape with a complex web of partners and competitors. While the competition is growing in the segment, most of the market share is held by players such as Alibaba Group, Pinduoduo, Xiaohongshu, and JD.com.
Online grocers increased their inventory amid the Covid-19 outbreak in China
In Beijing, major online grocery platforms increased their product supplies as consumers rushed to stock up on food and other daily supplies after the capital city announced a surge in Covid-19 cases in April 2022.
These firms’ moves to increase their supplies come from their learning in Shanghai, where the city-wide lockdown announced in March 2022 resulted in high demand for online grocery services among consumers.
In the Asian Pacific region, India is expected to become the second-fastest growing economy based on e-commerce sales in 2022. The country is expected to record double-digital growth through 2025. Regarding retail e-commerce sales, India is expected to hold fourth place in the region, behind China, Japan, and South Korea. Notably, the exponential growth in the country has been driven by consumers in Tier II and Tier III cities.
Firms are looking to tap into the quick commerce segment of online food service in India to drive growth
The quick commerce industry has gained rapid momentum in India over the last few years. The entry of players like Ola and Flipkart into the quick commerce space raised a few eyebrows. However, the instant delivery segment quickly gained momentum in the food delivery space.
With the sector’s immense potential, a few startups also entered the market with their strong business models. For instance,
Indonesia is one of the biggest grocery markets in Asia. After China, India, and Japan, the country is projected to be the fourth-biggest grocery market in 2022.
As the e-commerce industry continues to mature in Indonesia, more and more players are investing in the online grocery space to drive the future growth of their businesses. Several big tech firms have also raised their stake in app-based grocery orders. Firms such as Gojek and Grab are launching their on-demand grocery features
In addition, the Singaporean government is also planning to launch two 5G networks across the country by 2025. The 5G network rollout is expected to form the backbone of the digital economy in Singapore, which will also boost the infrastructure’s capacity to manage large online sales orders internationally. Consequently, the publisher expects the 5G network rollout to drive the growth of the overall e-commerce market over the next three to four years.
The retail shopping landscape has changed significantly over the last two years, ever since the global Covid-19 outbreak and e-commerce startups are raising big investment rounds in Australia.
For instance, In May 2021, Little Birdie, an Australian e-commerce startup, announced that the firm had raised A$30 million in pre-launch funding from one of the largest banks in the country, Commonwealth Bank of Australia. The e-commerce aggregates more than 70 million products from a host of different brands and online stores, intending to become the first thing when consumers in Australia think of shopping.
Among the different factors required to drive the market growth, the publisher expects an internet-savvy population, increased mobile penetration rate, and affordable internet connectivity will remain critical over the next three to four years and is going to fuel the B2C e-commerce market in the future.
This report provides a detailed data-centric analysis of B2C ecommerce market dynamics, covering over 100 KPIs in the Asia Pacific region. It details market opportunities across key B2C verticals – Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer).
The report also covers niche trends such as market size by live streaming engagement model and cross-border purchases. It also covers ecommerce spend share by operating systems, devices (mobile vs. desktop) and cities.
In addition to detailed data-centric analysis, this report provides analyst commentary on key trends, drivers, strategies, and innovations in the B2C ecommerce industry in the Asia Pacific region.
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/vw601q
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