HONG KONG – Asia Pacific and Australasia will become an e-commerce powerhouse in 2021 and beyond, due to e-commerce sales opportunities of over $68.5 billion, according to a new report from global market research company Euromonitor International.
In the report, “Retail in Transition: Future E-commerce Opportunities in Asia Pacific and Australasia,” exploring digital trends and opportunities in the region, Euromonitor estimates that Asia Pacific and Australasia’s online sales expansion will account for more than 45% of global e-commerce growth from 2020 to 2025.
“Mobile shopping and digital commerce have become new common practices for consumers who are healthier, more fitness centric and value experiences over tangible goods,” says Emily Leung, senior analyst at Euromonitor International.
Food and drinks online sales, in Asia Pacific and Australasia, will nearly double, reaching $172.8 billion by 2025, with fresh food, alcoholic drinks and packaged food products set to represent more than 57% of total unmet e-commerce opportunities, and driving further growth in the region.
“The role of the brick-and-mortar store is also shifting from a point of purchase into an experiential centre,” Leung adds.
More than 80% of professionals working at retailers and consumer goods brands reported their companies are exploring alternative ways of doing business, according to Euromonitor’s Voice of the Industry: Digital Survey 2020. Retailers must rethink the fundamental purpose of a channel and their go-to-market strategies to cater to the digital shift.
Download the free report to discover emerging e-commerce trends and opportunities in Asia Pacific and Australasia.
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