With the rise of globalization, the e-commerce industry in the Middle East and Southeast Asian regions has seen remarkable growth in recent years. The e-commerce in Southeast Asian countries alone is expected to reach US $127.70 billion in 2023.
Moreover, consumers in these regions are looking for new and innovative ways to shop online, making it crucial for businesses to ensure they have their products listed on the best e-commerce websites and marketplaces.
This blog aims to equip you with all the facts and figures so you get the upper hand while deciding the best SEA marketplace for WooCommerce sellers like you.
Statistics game that you must know
Southeast Asia
As per the data report by Statista-
- Revenue in the Southeast Asian e-commerce market may reach US$127.70bn in 2023.
- Annual CAGR to surpass 11%, resulting in a projected market volume of US$199.20bn by 2027.
- Overall the number of users is expected to hit 485 million by 2027.
- At this point, the average revenue per user can be around US$320.
Middle East
Concluding multiple e-commerce studies, UAE is going to be one of the dominant e-commerce market in the Middle East region.
- The B2C market in UAE can grow by 14.80% on an annual basis.
- Secondly, e-commerce in UAE will be valued at around US$30.7 billion by 2023.
- In addition, the country’s B2C GMV will increase from US$ 26.8 billion in 2022 to US$ 46.8 billion by 2027.
The most popular marketplaces out there
The Southeast Asian region is a rapidly growing e-commerce landscape, offering vast opportunities for WooCommerce sellers. As a matter of fact, the region being home to over 350 million online shoppers, many parts of the Southeast Asian region are still catching up with the rapid adoption of digitization, online payments, and e-commerce.
To help you out, here is a list of some major marketplaces that are dominating the SEA e-commerce arena.
Top selling product categories
Now, Let’s look at some of the highest-selling product categories of the SEA region.
Health products
The demand for health products has increased post-pandemic disaster exponentially. People are getting more concerned when it comes to health. Vitamins and herbal medicines top the list, while other items like-
Probiotics
Dietary supplements
Fish oil
Wellness products
Exercise equipment
constitute a major chunk of revenue for online sellers.
Smartphones and other gadgets
Millennials and Gen Z are projected to make up 75% of the Association of Southeast Asian Nations (ASEAN) consumers by 2030. Moreover, the likes and dislikes of the young generation are already influencing the e-commerce industry. However, the demand in this category is soaring for products like-
- Automation solutions
- Smartphones, Laptops, Tablets
- Accessories ( earphones, chargers, etc.)
- Smartwatches
- Drones
- DSLR cameras, and more.
Mom and baby products
This category will be in high demand and highly relevant for moms always looking for ways to make their lives easier. Therefore, it becomes equally essential for sellers to carefully consider their approach before diving into the marketplace game. Some of the most preferred products of this category are-
- Baby care products ( massage oils, nourishing creams, etc.)
- Maternity products
- Baby food
- Diapers
- Body wraps, and more.
Fashion products
As per the report from Statista, e-commerce revenue of the fashion industry in the SEA region will hit the US $20 million mark in 2023. Above all, the highest selling products that are going to be responsible for this staggering growth consist of products like-
- Tops
- Dresses
- Bags
- Shoes
- Traditional and other non-traditional outfits.
Beauty products
As per the report by Istrata.co, the beauty segment consists of 3 significant subcategories: makeup, personal care, and fragrances. The makeup category is majorly concerned with the face, lips, nails, and eyes, while personal care is all about skincare, haircare, and body care.
Moreover, the highest revenue is from the personal care category, which is more than US$18.75 billion.
While the makeup and fragrances category constitutes an annual revenue of US$3.78 billion and US$2.39 billion. The highest-selling items under these categories are-
- Skincare products (body lotions, moisturizers, etc.)
- Makeup products (lipsticks, foundations)
- Cosmetic products
- Halal cosmetics
- Electric personal products (hair dryers)
- Organic and natural products
- Perfumes and other Fragrances
Home improvements and lifestyle products
The ASEAN home improvements and decor market is expected to cross the US$11 billion mark in 2026. The CAGR for 2022-2026 is roughly estimated at 9.23%. As an online seller, you can consider the following product lineup to achieve the best out of the rapidly scaling e-commerce category.
- Home decor items
- Tools and Hardware
- DIY home improvement projects
- Crockery
- Utensils
- Home accessories, etc.
How can CedCommerce help?
CedCommerce solutions are the perfect choice for business owners looking to sell on SEA marketplaces. Above all, our WooCommerce professionals have industry-leading expertise in deploying comprehensive multichannel solutions for WooCommerce store owners.
You can drastically reduce time-consuming manual tasks and focus on driving your business forward using complete automation and a customized multichannel online strategy. Additionally, you get the power to enjoy seamless integration of your store with multiple marketplaces and take advantage of the ultimate features like- bulk product upload, flawless order management, and near real-time inventory syncing.
Let’s have a chat and discuss what will work best for your business.
Schedule a meeting with one of our experts here- WhatsApp, Skype,