Digital retailing in Southeast Asia has grown 85% year-over-year and the region is on track to digitize nearly 80% of consumers by the end of 2021.
According to the annual SYNC Southeast Asia report from Facebook and Bain & Company, SEA growth surpasses China (5%), Brazil (14%) and India (10%).
Benjamin Joe, vice president, Southeast Asia, Facebook said it is clear that the pandemic continues to drive people online at an aggressive rate. The people of Southeast Asia are developing new habits of discovering, thinking and shopping online.
For new and established brands, these changes signal the need to rethink traditional e-commerce experiences and find creative ways to inspire and connect with customers online.
Praneeth Yendamuri, Consumer Products Partner of Bain & Company said Southeast Asia will undoubtedly overtake China and become the fastest growing digital economy in Asia Pacific. The gross value of goods (GMV) in e-commerce has grown by almost 80% year over year and we expect it to double in the next five years.
Top performing brand owners will focus on strategies to both capitalize on a post-pandemic digital boom in the region and protect themselves from the digital disruption that follows.
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