Mobile e-commerce Market Accelerating Rapidly in the APAC Region

Visa e-commerce survey reveals the hike of 22 percent in 2015 over the last year. Mobile commerce is worth billions, with Asia representing almost half of the market. It has been forecasted that the market would climb up to US $700 Billion by 2017. There are over 13 Asia-Pacific (APAC) markets that emphasizes on bridging the gap between mobile and desktop online commerce.

The emergence and increasing number of mobile shopping apps are considered to be the topmost reason APAC people are getting more and more inclined to use mobile devices for shopping. The other two reasons being convenience and on-the-go mobility that mobile phone users get.

As per the noted respondents in Visa's 2015 Regional e-commerce Monitor Survey, over the past two years mobile shopping has grown in popularity, thereby, marking the fall in the traditional shopping processes. Witnessing the highest growth in e-commerce, Indonesia, China and Taiwan have shot up at a rate of at 36 percent, 34 percent, and 28 percent respectively. Coming to cross-border shopping, Singapore is ahead of all the APAC countries, followed by Australia and Hong Kong.

Observations recorded 11,760 respondents across 13 APAC markets including Singapore, Malaysia, Vietnam, Australia, and India. Visa determines the probability of Thai consumers buying goods and services via their mobile devices has increased as they would on desktops. It noted that this gap between mobile and desktop online commerce was narrowing in countries such as China, South Korea, and Indonesia.

The survey findings stipulate an increase in "standards" in making purchases on the progress. Commenting on the situation, Conor Lynch,  Visa's regional e-commerce Director said, "As consumers get more comfortable using their smart devices to research, browse, and purchase, m-commerce should soon overtake traditional e-commerce habits, strengthening this channel of engagement between consumers and retailers.”

Striking a record for 27 percent of purchases shooting up, three customary shopping groups among mobile consumers were fashion, bills and movies that have revealed that Asia-Pacific consumers were comfortable buying "smaller ticket-sized, everyday items" with their mobile devices.

Check out: CIOReview APAC