No region illustrates the emergence of the digital consumer better than Asia Pacific. The expansion of connectivity has rewired life for the region’s newly connected consumers, with these consumers embracing the ubiquity of the device more so than others for all types of activities, including commerce. Given how consumers in Asia Pacific have embraced technology in commerce activities, this region is in many ways giving the world a preview of next-generation commerce.
Asia Pacific is already an important region based on many metrics, and will increase its leadership in the future. There are two factors propelling the region forward – an expanding population and a growing economy.
The Asian Century will usher in more digital consumers. In 2018, 51% of internet users globally resided in Asia Pacific, with that figure expected to rise to 53% by 2030. The region will see the largest increase in internet users globally over 2018-2030, adding 1.6 billion.
Asian consumers have embraced connectivity, and in particular the ubiquity of the mobile device, more so than any other region. Many Asian consumers turn first to this handheld device when it comes to performing an array of activities. Mobile has been so transformative that is has enabled Asia Pacific to leapfrog other regions in many facets of life, including commerce.
Asia Pacific is already the leading region for digital commerce, accounting for 41% of such spend globally in 2018. The region posted the fastest growth rate over 2013-2018, with nearly double the growth rate of any other region. Asia Pacific will continue to post double-digit CAGR growth rates over 2018-2023, outpaced only by the Middle East and Africa.
Asia Pacific has been fertile ground for the expansion and evolution of the digital consumer. The region has emerged as the mobile internet hub of the world, which has helped it take a lead in a number of initiatives, including social commerce, super apps and digital wallets.
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