Wednesday, May 6, 2015
The outlook for an ASEAN e-commerce boom.
A February study commissioned by the ASEAN Business Forum forecasts that electronic retailing in South-east Asia's six more advanced economies could grow by 25% annually up to 2017, driven by rising incomes, improving technology and a services boom. Expected to be worth at least 60 billion dollars once it matures (beyond 2017), the e-commerce market will help expand regional trade connections as the ASEAN Economic Community (AEC) is enacted from late 2015.
- Rising incomes, growing business connectivity and investment in retail portals will spur online sales.
- Services will be targeted at younger, technology-aware consumers who prefer mobile telephones over computers.
- Market potential may not be realised without investment in supporting services, including payment systems.