Key E-Commerce Trends in Asia in 2021

The surge of online retailers has been building up for a while now. In 2011, there was an increase in omnichannel retail, where retailers were able to connect with consumers via a combination of online and offline platforms.

Fremont, CA: E-commerce is on the rise in Asia, with a steeply expected growth rate of 8.2 percent between 2020 and 2025. This places Asia ahead of the Americas and Europe, with e-commerce expected growth rates of 5.1 percent and 5.2 percent respectively. Statista also expects the expected market value of e-commerce in Asia to hit US$2.2 billion by 2025.

The Asian e-commerce market is obviously one that cannot be ignored. In order to capitalize on this fast-growing segment, it is crucial to recognize the latest micro-trends within it. Although the market is undisputedly competitive, there are five large currents that make up the fast-growing Asian e-commerce tidal wave.

Livestream is the new thing

Within South East Asia, there is no denying the increase in popularity of live streaming on e-commerce platforms such as Shopee and Lazada. In Singapore and Malaysia alone, the cumulative hours broadcast on ShopeeLive increased by almost 200 percent between February and June 2020.

The Philippines has also seen 60 percent of companies incorporating live sales to draw customers. At the end of the day, the numbers do not lie: across Thailand, Vietnam, the Philippines and Singapore, the Gross Merchandise Value (GMV) of live e-commerce rose by 306 percent between January and June 2020.

Big names are going online

The surge of online retailers has been building up for a while now. In 2011, there was an increase in omnichannel retail, where retailers were able to connect with consumers via a combination of online and offline platforms.

In the end, it was COVID-19 that moved online platforms to the forefront. According to Deloitte China's study, physical retail in shopping malls was the worst affected by COVID-19, with 60 percent of shopping malls in China showing a 50 percent decrease in customer numbers.

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