Global E-commerce Trends Reports cover 13 e-commerce markets in the Asia-Pacific region highlighting the unique regulatory, cultural and logistical challenges that global brands may encounter across this widespread geographic area. Compared to the Americas and Europe, Asia-Pacific countries have greater variability in terms of locally preferred e-commerce payment methods and cross-border shopping. Merchants with the ability to anticipate and adapt to change could gain a competitive edge in the region.
Australia Ecommerce Market & Startups Report
In Australia, e-commerce continues to grow at a steady pace with domestic brands dominating the market and consumers showing a strong preference to pay with cards. Mobile, cross-border and buy now, pay later are on the rise as consumers show a willingness to adopt new shopping and payment methods.
China Ecommerce Market & Startups Report
China is a world-leading e-commerce market that boasts huge sales volumes, high innovation and a vibrant social and mobile commerce environment. A rising middle-class could use their digital wallets to drive double-digit e-commerce growth through 2024. Cross-border merchants need to remain aware of China’s unique import and tax rules.
Hong Kong Ecommerce Market & Startups Report
Hong Kong represents a digitally sophisticated region that has yet to adopt e-commerce as broadly as adjacent markets. To date physical shopping experiences are preferred to e-commerce among Hong Kong’s consumers. When Hong Kong consumers do shop online, many times it is with international merchants and they most frequently pay with cards.
India Ecommerce Market & Startups Report
India’s massive population represent huge e-commerce growth potential, particularly for international brands that have mastered mobile commerce. Digital wallets are Indian consumers’ preferred e-commerce payment method. Import duty and consumer protection legislation is evolving to strengthen and protect the local market.
Indonesia Ecommerce Market Report
As the adoption of mobile technology continues to rise, Indonesia could provide some compelling opportunities for international merchants. The country’s dispersed geographic nature does present some logistical challenges that are yet to be fully addressed. Among Indonesian consumers, cards and bank transfers are the most common form of e-commerce payment.
Japan Ecommerce Market Report
The Japanese e-commerce market is large and quick to adopt technological innovation. The country has a robust digital infrastructure and adoption of online and mobile technology is advanced. In spite of this, Japanese consumers are cautious online spenders. International merchants should pay close attention to the unique cultural preferences of consumers in Japan.
Malaysia Ecommerce Market & Startups Report
While digitally sophisticated, Malaysia has unique logistical challenges that can inhibit the adoption and growth of e-commerce across the country. When they do shop online, Malaysians show a strong preference for mobile commerce. Social media is highly influential with “conversational commerce” driving sales that are most frequently completed through bank transfers.
New Zealand Ecommerce Market & Startups Report
Consumers in New Zealand’s well-established e-commerce market are thoughtful and pragmatic, leading to the popularity of ethical shopping and buy now, pay later. Cross-border shopping takes a significant share of the country’s e-commerce spending.
Philippines Ecommerce Market & Startups Report
Philippine consumers are digital natives that have been paradoxically slow to adopt online shopping. The global pandemic may have heralded a shift as online sales rose significantly due to necessity. Mobile and desktop shopping are equally popular among Philippine consumers, with cash still playing an important role in e-commerce transactions.
Singapore Ecommerce Market & Startups Report
Singapore’s consumers are driving steady e-commerce growth as physical retail continues to remain popular. Omnichannel experiences could grow in popularity as a result of the island nation’s compact and urban nature. Cross-border e-commerce far outweighs domestic shopping, making Singapore a target of overseas merchants.
South Korea Ecommerce Market & Startups Report
In South Korea, ubiquitous internet connectivity and economically empowered consumers are positioning the nation to become a leading e-commerce market. Mobile commerce dominates total online commerce in South Korea. Consumers here prefer to pay with cards with the biggest ticket transactions being done with domestic merchants.
Taiwan Ecommerce Market & Startups Report
Taiwan’s consumers are generally attracted to fast, local and conversational e-commerce experiences enabled by mobile devices. Cards are the preferred method of payment, followed by bank transfers and digital wallets. When price is a top concern, Taiwanese will look to large international platforms to maximize value.
Thailand Ecommerce Market & Startups Report
In Thailand, social and mobile commerce drove double-digit e-commerce growth in 2020. Thai consumers’ payment preferences equally span bank transfers, cards, cash and digital wallets. About one-third of total e-commerce volume is cross-border, led by demand for Chinese products.
Vietnam Ecommerce Market & Startups Report
E-commerce growth in Vietnam is set for world-leading growth as a result of a rising middle class. Mobile and social commerce are in the rise in both urban and rural areas. Card and cash are the most popular e-commerce payment methods in Vietnam and cross-border sales are quite strong.
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