With 40 million new Internet users, the Southeast Asian e-commerce market has huge potential!

With 40 million new Internet users, the Southeast Asian e-commerce market has huge potential!

The report explores the online consumption status of Southeast Asians from aspects such as the number of online shoppers, shopping trends, and payment methods.

 

In terms of the number of online shoppers, the report pointed out that according to Google data, Southeast Asia has added 40 million Internet users this year. Currently, the Internet penetration rate in Southeast Asia has reached 75% . Among these Internet users, eight out of ten will shop online. Many brands have also realized that there are more and more online shoppers. Therefore, the number of new brands entering the ZALORA platform this year has increased by 19%.

 

In addition, the report found through analyzing Google data that 90% of Southeast Asians refer to at least one e-commerce platform when shopping online. In fact, Southeast Asian consumers are still relatively cautious when comparing products. Consumers refer to an average of 7.9 websites when making decisions, compared to 5.2 in 2020.

 

Looking at a specific country, such as the Philippines, consumers spend the most time online on average, nearly 11 hours, and are most likely to make purchases based on sustainability considerations.

 

Moving on to Malaysia, which has the highest percentage of digital natives at 88%, or 22 million, Malaysian shoppers spend an average of nearly nine hours online and are most likely to be value-driven.

 

So, what do Southeast Asians like to buy most?

 

According to ZALORA's survey, perfume dominates the personal care category of ZALORA , surpassing facial essence and conditioner. In addition, Google data shows that Southeast Asians' searches for luxury goods have increased significantly, especially in Singapore, which has increased by 1.5 times compared to pre-epidemic levels .

 

Consumers are investing more in casual wear and focusing on their health. With demand for formal wear items declining, men and women in the region are spending more on activewear compared to other product categories.

 

Of course, as vaccination rates rise, previously mired categories are rebounding. When Singapore announced plans for a travel corridor with Germany for vaccinated people, searches for “winter clothes” on ZALORA increased by 275% and “warm clothes” by 325%.

 

When it comes to payments, there are 290 million “unbanked” people in Southeast Asia. Providing alternative payment methods has become a necessity for online retailers. One of the more popular options that has emerged this year is the buy now, pay later (BNPL) payment option.

 

For example, in Indonesia, Google searches for e-wallet services have increased about 10 times and searches for BNPL services have increased about 15 times over the past five years.

 

Other attractive payment options such as monthly installments, 0% interest charges on credit cards, also enhance financial inclusion while providing quality products and services.

Southeast Asia

E-commerce

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