SINGAPORE–(BUSINESS WIRE)–#AsiaPacific–Asia Pacific�s e-commerce sales are expected to nearly double by 2025 reaching USD 2 trillion, according to global market research company Euromonitor International.
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 regions shift into an innovation hub post-pandemic.
In this years whitepaper Top 100 Retailers in Asia 2021, Euromonitor looks at how the APAC region world-class mobile connectivity enables digital transformation and is supported by extremely tech-savvy consumer segments in the region.
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, says Deepika Chandrasekar, senior research analyst at Euromonitor International.
In 2020, businesses receiving online orders recorded 37.6% growth and will reach 44% by 2025. Livestreaming experienced an explosive growth in 2020 in tech-advanced markets. Countries like China and emerging economies in Southeast Asia including Indonesia and the Philippines witnessed a surge in social commerce through WhatsApp, Instagram and Viber, added Quan Yao Peh, research analyst at Euromonitor International.
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.
To download the free report, visit: https://bit.ly/2Skrh55
About Euromonitor International
Euromonitor International is the worlds leading provider for global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. Find the right report, database or custom solution to validate priorities, redirect assumptions and uncover new opportunities. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets.
Contacts
Benedicte Dia
Regional Communications Manager- Euromonitor International
Tel: +65 6429 0590 ext. 6598
Benedicte.Dia@euromonitor.com
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