Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
Ecommerce market in Asia Pacific is expected to grow by 3.41% on annual basis to reach US$ 3.98 trillion in 2024.
Medium to long term growth story of Ecommerce industry in Asia Pacific promises to be attractive. The Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 6.39% during 2024-2028. The Ecommerce gross merchandise value in this region will increase from US$ 3.85 trillion in 2023 to reach US$ 5.10 trillion by 2028.
The B2C e-commerce market is poised for strong growth over the medium term in Asia Pacific. Rising digitalization among small businesses, coupled with a tech-savvy population, are among the factors that will drive industry growth over the next three to four years. India is expected to lead the regional growth, as e-commerce penetration continues to increase in Tier II cities and beyond.
Indian e-commerce firms are, therefore, expected to increase their investment in these markets to accelerate growth over the medium term. Chinese firms, however, are targeting growth in foreign markets amid a slowdown in the domestic market. Shein and Temu are seeking to expand their presence in markets like South Korea, Japan, and Southeast Asia region. Overall, the publisher maintains a robust growth outlook for the B2C e-commerce market over the next three to four years.
Focus on small towns and a value-conscious customer base is driving growth for Meesho in India
Access to the internet among young generation shoppers is rapidly growing in Tier II cities and beyond and this trend is projected to continue further over the medium term. This market is, therefore, offering strong growth opportunities for e-commerce firms in India.
Meesho, one of the new entrants in the Indian e-commerce market, has been largely focused on smaller towns. The firm, which initially adopted a social commerce strategy, is now shifting towards an e-commerce model in the Indian market. Meesho has invested significantly to build a strong supply chain network across India, including in remote areas. This strategy, coupled with low-priced product offerings, is driving the growth for Meesho.
According to a report from AllianceBernstein, Meesho has achieved a gross merchandise value of more than US$5 billion. Furthermore, the app reported a strong growth of 32% year-over-year in December 2023, thus outpacing Flipkart's and Amazon's growth. The report also revealed that 50% of Meesho's sales are coming from Tier II and below cities.
Going forward, more sellers are expected to join the e-commerce platform, due to its zero sellers commission policy. This, in turn, will keep driving the growth momentum for Meesho over the medium term.
Chinese e-commerce giants are seeking growth in overseas markets amid a slowdown in the domestic industry
Consumer consumption continues to remain sluggish amid the real estate crisis and sinking exports in China. Consequently, Chinese e-commerce firms are looking for growth in foreign markets, where inflation is driving consumers towards low-cost products.
AliExpress, Temu, and Shein have been seeking to expand rapidly in foreign markets in 2023. These firms are expected to further increase their investment in overseas nations to accelerate growth in 2024. Temu, for instance, has been expanding rapidly across Asia Pacific markets like South Korea, Japan, and Australia. Shein is also banking on inflation in countries like South Korea and Japan to make their low-priced products attractive for cost-conscious consumers.
Lile Temu and Shein, TikTok has also been expanding rapidly in overseas markets. TikTok, in December 2023, announced a US$1.5 billion investment in GoTo in Indonesia, one of its biggest markets globally. The partnership is part of the strategy to evade the regulatory ban imposed by the government on social media platforms. The publisher expects these firms to keep increasing their investments in various Asia Pacific markets over the next three to four years. This will drive competitive landscape and industry growth over the next three to four years across the region.
E-commerce service providers are raising capital to fund expansion in Southeast Asian markets
The e-commerce market is poised to grow at a rapid rate across Southeast Asia over the medium term. To tap into the growing market, e-commerce service providers are raising capital to fund regional expansion.
etaily, the e-commerce enabler in the Philippines, announced that the firm had raised US$17.8 million as part of its Series A round in December 2023. The round was co-led by SKS Capital and Pavilion Capital. The firm is planning to use the fresh capital to finance its expansion in Malaysia, Indonesia, Singapore, and the Philippines. Furthermore, part of the capital will be used for developing in-house brands and improving technology.
Abenson, JGDEV, Landmark, and Ayala are among the Filipino brands that are using the services offered by etaily to build an online presence. Content production, channel creation, warehousing, and fulfillment are among the many services offered by etaily. In the first 12 months of its operations, the firm processed over one million transactions and made 50,000 unique products available across the region. The firm also revealed that the gross sales have tripled in 2023 and are on track to reach US$100 million over the next few years.
This report provides a detailed data-centric analysis of Ecommerce market dynamics, covering over 50+ KPIs in the Asia Pacific region. It details market opportunities across key Ecommerce verticals - Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer).
The report also covers niche trends such as market size by live streaming engagement model and cross-border purchases. It also covers ecommerce spend share by operating systems, devices (mobile vs. desktop) and cities.
In addition to detailed data-centric analysis, this report provides analyst commentary on key trends, drivers, strategies, and innovations in the Ecommerce industry in the Asia Pacific region.
This title is a bundled offering, combining 14 reports, covering regional insights along with data-centric analysis at regional and country levels:
- Asia-Pacific Ecommerce Market Opportunities Databook (2019-2028)
- Australia Ecommerce Market Opportunities Databook (2019-2028)
- Bangladesh Ecommerce Market Opportunities Databook (2019-2028)
- China Ecommerce Market Opportunities Databook (2019-2028)
- India Ecommerce Market Opportunities Databook (2019-2028)
- Indonesia Ecommerce Market Opportunities Databook (2019-2028)
- Japan Ecommerce Market Opportunities Databook (2019-2028)
- Malaysia Ecommerce Market Opportunities Databook (2019-2028)
- Pakistan Ecommerce Market Opportunities Databook (2019-2028)
- Philippines Ecommerce Market Opportunities Databook (2019-2028)
- Singapore Ecommerce Market Opportunities Databook (2019-2028)
- South Korea Ecommerce Market Opportunities Databook (2019-2028)
- Thailand Ecommerce Market Opportunities Databook (2019-2028)
- Vietnam Ecommerce Market Opportunities Databook (2019-2028)
Scope for Each Databook
Ecommerce Market Size and Future Growth Dynamics
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Gross Merchandise Volume Trend Analysis
Ecommerce Market Share by Key Players
- Retail Shopping Ecommerce Market Share by Key Players (20+ Players)
- Travel Ecommerce Market Share by Key Players (20+ Players)
- Food Service Ecommerce Market Share by Key Players (20+ Players)
Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2019-2028)
- Retail Shopping (breakdown by clothing, footwear & accessories, health, beauty and personal care, food & beverage, appliances and electronics, home improvement, books, music & video, toys & hobby, auto)
- Travel and Hospitality (breakdown by air travel, train & bus, taxi service, hotels & resorts)
- Online Food Service (breakdown by aggregators, direct to consumer)
- Media and Entertainment (breakdown by streaming services, movies & events, theme parks & gaming)
- Healthcare and Wellness
- Technology Products and Services
- Other segments
Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
- Platform to Consumer
- Direct to Consumer
- Consumer to Consumer
Ecommerce Market Share by Travel and Hospitality Sales Channel
- Market Share by Travel and Hospitality Sales Channel
- Aggregator App - Gross Merchandise Value Trend Analysis
- Direct to Consumer - Gross Merchandise Value Trend Analysis
Ecommerce Market Size and Forecast by Online Food Service Sales Channel
- Aggregator App
- Direct to Consumer
Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2019-2028)
- Website Based
- Live Streaming
Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2019-2028)
- Cross Border
- Domestic
Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2019-2028)
- Mobile
- Desktop
Ecommerce Market Size and Forecast by Operating System
- iOS/macOS
- Android
- Other Operating Systems
Ecommerce Market Size and Forecast by City
- Tier 1
- Tier 2
- Tier 3
Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2019-2028)
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- Cash
- Other Digital Payment
Companies Featured
- Agoda
- Airasia Food
- Alibaba's 1688
- Amazon
- Baedal Minjok
- Baemin
- BeTaxi
- Bobobox
- Booking.com
- Bungkusit
- Cebu Pacific
- Central
- Chaldal
- CheapOair
- Coles
- Comfort Taxi
- Coupang
- Coupang Eats
- Daojia
- Daraz
- Deliveroo
- Demae-Can
- Didi Chuxing
- DiDi Mobility
- DMM.com
- Domino's
- Doordash
- Easybook
- Eatigo
- eBay
- Ele.me
- Evaly
- Expedia
- Faasos
- Fine Dine
- Firefly
- Flipkart
- Food Panda
- Gmarket
- GoFood
- Goibibo
- GoJek's Go-Food
- Grab Food
- Grab Taxi
- Grain
- Happy Fresh
- Homeshopping
- Interpark
- Jalan
- JD.com
- JD.id
- Jollibee
- Kaidee
- Kakao Taxi
- Kayak
- Kmart
- Kulina
- Lazada
- Line Man
- Line Taxi11Street
- Lux Group
- MakeMyTrip
- Mc Delivery
- Meituan Waimai
- Menulog
- Mercari
- MetroDeal
- MiCab
- Mobile World Group
- MyCar
- Myer
- Myntra
- MyRealTrip
- Naheed Super MarketCarousell
- Naver Shopping
- Ola
- OpenTable
- PakWheels
- PegiPegi
- Pickaboo
- Pickaroo
- Pizza Hut
- Qoo10
- Qunar
- Rakuten
- Sephora
- Shebah
- Sherpa's
- Shopee
- Shophive
- Shuttle Food Delivery
- Snapdeal
- Swiggy
- TADA
- Taobao
- Tiket.com
- Tiki
- Tmall
- TMAP Taxi
- Tokopedia
- Tongcheng Travel
- Traveloka
- Trivago
- Uber
- Uber Bukalapak
- Uber Eats
- Wahyoo
- Webjet Daraz Bangladesh
- Wego
- WhyQ
- Wolt
- Woolworths
- Xiaohongshu
- Yahoo! Shopping
- YanoljaAmazon
- Yidao YongcheAjio
- Yogiyo
- Zalora
- Zameen
- Zomato
For more information about this report visit https://www.researchandmarkets.com/r/didhi7
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