Asia Pacific and Australasia will become an e-commerce powerhouse this year and beyond, due to e-commerce sales opportunities of more than $68.5bn, 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’, Euromonitor explores digital trends and opportunities in the region and estimates that its 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…
“The role of the brick-and-mortar store is also shifting from a point of purchase into an experiential centre,” Emily adds.
More than 80% of professionals working for retailers and consumer goods brands reported their companies were 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, it says.
