The COVID-19 pandemic has spurred online shopping for millions of consumers in markets all across the world. E-commerce retailers across Asia have seen explosive sales growth. According to an ongoing study by MasterCard in multiple markets around the world, digital commerce is here to stay. Digital commerce revenues had grown 20% globally in the first quarter of 2020 from a year earlier. In the Asia-Pacific region, e-commerce is on the rise, with 30% of people in Australia, 49% in India, 55% in China and 34% in Japan planning to make more purchases online.

“COVID-19 pandemic accelerated shift to e-commerce by 5 years”,according to new data from IBM’s US Retail Index.

“E-commerce sales are up 55% year over year for the first seven months of the year, resulting in $434.5 billion in online spending” according to Adobe Analytics.

According to eMarketer: “retail e-commerce sales worldwide will reach USD 5 trillion by 2021. At the moment, Asia-Pacific (APAC) leads the global e-commerce growth charge, outpacing all other continents with a forecasted growth of 25% or USD 2.271 trillion, representing a whopping 64.3% of global e-commerce spending.”

A 2020 ASEAN Youth Survey - conducted by the World Economic Forum in partnership with Sea Insights - discovered ASEAN youth adjusted to the Covid-19 environment by significantly increasing their digital footprint.

There is an urgent need for businesses - especially small and medium enterprises - to develop a strong e-commerce presence now and after the pandemic. Corresponding investment in warehouses and distribution centers are also urgently needed.

Make sure you and your organization keep-up with all of these trends shifting this dynamic industry. Contact us today to secure your access to this timely virtual conference.

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