Southeast Asia B2C E-Commerce Market 2021

Southeast Asia B2C E-Commerce Market 2021

B2C E-Commerce market in Southeast Asia accelerated even further in 2020, says yStats.com.

Asian B2C E-Commerce market continued accelerating during the COVID-19 pandemic in 2020

The B2C E-Commerce market in Asia saw significant growth during the coronavirus pandemic and was expected to continue its leadership over other world regions. Moreover, as a result of consumers’ shopping behavior shift towards online purchasing, numerous E-Commerce platforms generated considerable revenue since the start of the COVID-19 pandemic. There were several major players in the online market, Amazon, JD.com, Pinduoduo, Shopee, Lazada were among them. These platforms had a significant number of sales, a high inflow of new consumers and an increased number of visits over the last 6 months of 2020. Besides, to contribute to the development of online retail, some companies received investments and, thus, increased their value on the market. Many E-Commerce platforms also increased their cross-border selling, by operating abroad and introducing foreign retailers on their platform.

The downward trend of the online travel segment’s GMV was projected to recover gradually from 2021 to 2025

Although the Internet economy overall witnessed increasing value, the online travel gross merchandise value declined significantly in 2020, even by over 50% in some countries. Having said that, this sector’s value was still projected to gain momentum and grow back gradually by 2025.