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With its two mega markets of China and India, Asia-Pacific is the biggest region for online shopping in the world, according to a study by the US research organisation Forrester Data. Sales in this sector reached USD 861 bn in 2016 and are expected to rise to USD 1.4 trn by 2021, equivalent to a fifth of all retail sales. With USD 1.089 trn China would be the first trillion-dollar market in 2021, covering 80 per cent of all e-commerce transactions in the Asia-Pacific market.
With regard to India, the study anticipates an average annual increase of over 30 per cent to USD 64 bn in total. The Indian market is growing three times faster than that of South Korea, the next most promising market in the region. According to Elaine Wong, co-founder of BFMe.com, a leading international e-commerce player in the region, the Indian market is comparable to that of China ten years ago.
A survey of Asian e-commerce executives at the 2017 eTail Asia expo in Singapore revealed that social media is the most frequently used form of brand communication. 87 per cent of the respondents were active in this sector. While direct communication in stores followed with 81 per cent, e-mails lagged behind in third with 64 per cent.
With regard to India, the study anticipates an average annual increase of over 30 per cent to USD 64 bn in total. The Indian market is growing three times faster than that of South Korea, the next most promising market in the region. According to Elaine Wong, co-founder of BFMe.com, a leading international e-commerce player in the region, the Indian market is comparable to that of China ten years ago.
A survey of Asian e-commerce executives at the 2017 eTail Asia expo in Singapore revealed that social media is the most frequently used form of brand communication. 87 per cent of the respondents were active in this sector. While direct communication in stores followed with 81 per cent, e-mails lagged behind in third with 64 per cent.
