Counting more than 630 million people, Southeast Asia is often considered as the next gold-rush of eCommerce hub.
Said to possess world’s third enormous population, the Southeast Asia region unveils tremendous expansion opportunities for SMEs (Small and medium-sized enterprises) across ASEAN (Association of Southeast Asian Nations).
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As per the reports of Google and Temasek Holdings, Southeast Asia’s digital market is said to exceed US$200 billion by 2025. Which brings us to the fact that there is no better time to dive into ASEAN’s eCommerce industry than NOW.
The image by Frost Analysis above portrays the division of eCommerce in various regions such as the U.S., China, and ASEAN along with their expected growth in the year 2019.
Furthermore, online sales are expected to hit more than $70bn by 2020. Although, it cannot the ASEAN market cannot match China’s $500bn market yet it will continue to allure a lot of international retailers out there.
With the passing of 2018, the ASEAN eCommerce structure holds a huge grip over Singapore in forming the threshold for advancement in digital regulation and growth of millennials in the Southeast Asia region.
Besides, the potential of eCommerce in Southeast Asia is tremendous. As a result, the ASEAN governments are rigid in terms of taxation and any such issues which might impact SMEs in the Southeast Asian region.
The no tax rule over goods and services of $400 or less enables the cross-border trade among the population of Singapore, Malaysia, and Thailand. As a result of which every other person in ASEAN buys something online from foreign countries.
Southeast Asia eCommerce- Digital Landscape
The eCommerce in ASEAN (Association of Southeast East Asian Nations) has outpaced the digital industry in Southeast Asia. With their ever-rising internet users, the eCommerce landscape of Southeast Asia has shown tremendous growth in the past years. Having reached more than 330 million Internet users, the six largest economies in ASEAN eCommerce market have outlined to continue at an annual rate of 17.7% until 2020.
The sources from the World Bank above depicts the ever-growing internet users from 2015 to 2020. With such impressive digital remarks across Southeast Asia, the eCommerce in ASEAN has always been profitable for all the newbie and veterans in the industry.
Besides, internet users tend to drive huge growth in terms of ASEAN eCommerce. Even though the mobile internet penetration hasn’t quite hit the halfway point yet. The whole lot of new internet users in the Southeast Asia mobile-first and often mobile only.
The tremendous mobile usage in the Southeast Asia, has made online commercing even easier. The Facebook groups, youtube channels, and all other digital platforms tend to bind the sellers and buyers together. Thus, making their communication way quicker and easy. Make sure your website is well-designed and works seamlessly both in mobile and desktop view.
An average Southeast Asian spends 3.6 hours over the internet every day, which makes the ASEAN eCommerce mobile-first and mobile-only economy.
As per the data from Hootsuite, the online sellers must target those belonging to the age group of 18-44. Since a major of Southeast Asia’s eCommerce revenue is driven by these age-groups.
Image Source: Hootsuite
Getting started with TOP marketplaces in ASEAN
Southeast Asia is such a diverse region has continued to attract young shoppers. With more and more ASEAN population tuning into eCommerce. The online marketplaces prove to be the best real-time rescues for all the retailers and help them cover huge customer-base.
The tech behemoths such as Shopee, Lazada, 11Street, Qoo10 and others in the ASEAN are already benefiting the eCommerce boom. A recent survey carried out in Thailand suggests that 85% of patrons living in low tier cities use their smartphones for online purchases.
Also, often claimed to be the Black Friday and Cyber Monday of Southeast Asia- the ever-popular mega sale days of the ASEAN i.e. 11.11 (singles’ day) and 12.12 (double 12) are said to rake in a lot of monetary profits for all the retailers out there.
With over 1,80,000 brands taking part in Singles’ day Alibaba raked a total of 213.5 billion ($30.8 billion). Hence, setting up yet another record when compared to previous times.
Having known it all, you might get the thought of how to tap into the active and flourishing markets of Southeast Asia eCommerce? Whether or not, if you are already selling in the Southeast Asia- ASEAN eCommerce has its door open for all the eCommerce veterans and newbie.
Below, is a list of all the top marketplaces, you must not resist selling upon.
Lazada marketplace is said to acquire 2.03 million unique population as per the latest data of Similarwebs. Being the perfect marketplace to get going into the prominent ASEAN regions such as Singapore, Malaysia, Indonesia, Thailand, Philippines, and Vietnam Lazada marketplace put forths your product in front of millennials.
-Its zero listing fees make it favorite among sellers.
-Everyday products, USB drives, power banks are the top selling products on Lazada.
Said to take over the eCommerce players – Lazada, Qoo10, and 11street- Shopee marketplace seemed to seize the #1 position of the Southeast Asia market in the year 2018. The “mobile-first” countries or rather that belonging to the ASEAN have witnessed Shopee marketplace as a primary mobile, assorted online shop- providing a regular web shopping experience and ruling major parts of ASEAN with its presence in the Vietnam, Philippines, Singapore, Indonesia, Taiwan, as well as Malaysia.
-Shoppee’s free shipping services draw more patrons to you.
-Shoppee marketplace does not ask for any commission, which means your earnings are only yours.
11Street online shopping mall connects sellers with a variety of patrons to meet various quality of products at fair prices. Thus, providing a trustworthy and secure environment for both sellers and buyers. Uncovering endless deals from electronics, fashion, home and living, sports and leisure, and more.
-11Street marketplace enables you to pick your own shipping fee.
-With 11Street you get the option to pay in order to be listed first.
Qoo10 is yet another extremely popular online shopping platforms among Southeast Asia eCommerce region. Covering everything from sports goods, apparels, home products, beauty products, electronic gadgets, Qoo10 also sells food. All you need to do is to come up with an attractive eStore.
– Being a seller you can list your products for free on Qoo10.
-Qoo10 leverages you with its huge customer-base (1.94 million as per Jan’19 Similarwebs report).
Based in Malaysia, Lelong is yet another top performing marketplace in Southeast Asia. Attracting a huge customer-base, Qoo10 marketplace put forth two of its plan for their sellers to get started with selling- RM398/year (Webstore Plan) and RM498/year (Webstore Plus Plan) respectively.
-They enable your products to rank better on certain keywords.
-Lelong marketplace tends to maintain a clear transparency of your transactions.
Already selling in Southeast Asia?
Having known such lucrative facts about the rising eCommerce of Southeast Asia. You sure don’t want to sit back and risk your chances of making more money online.
For all the veterans out there- CedCommerce gives your eCommerce store that little push to expand your products outreach and reach the all-new customer-base via their impeccable integration solutions. Sync your eCommerce stores with the top-selling marketplaces of Southeast Asia and strengthen your presence in the ASEAN.
Lookout for your framework and connect your eCommerce store with TOP marketplaces- here.
Did you know?
Cash on Delivery prevails the Southeast Asia eCommerce market
Unlike the western eCommerce world, Cash On Delivery (COD) is the most preferred payment methods in ASEAN. COD is often the only payment solution in eCommerce regions of Southeast Asia.
The outlook for easy payment solution and lack of users’ interest in credit cards have led to the increased COD options across ASEAN. However, several online payments are slowly arising with the increased digitalisation in the ASEAN. Below is a detailed description of the bifurcation of payment methods across Southeast Asia region:
-Singapore tend to hold high grips over Credit cards,
-Internet Banking is the most common practices in Malaysia.
-Annexing further, the current eCommerce trends of Thailand, Philippines, Indonesia, and Vietnam witnesses the ever-popular Cash Of delivery (COD) method across the Southeast asia eCommerce.
To Sum Up…
E-commerce in Southeast Asian region is equivalent to mine full of wealth. With the ever-rising eCommerce players, the competition will get even tougher. Worth mentioning- In the age of rising competition, the ASEAN seem to carry some unique trends.
Besides, with CedCommerce’s incredible integration solutions you can sit, back, relax, and stay ahead of the rest. Leverage the mass upload of products in one-go, auto-sync and centrally manage all the orders from your eCommerce store. Also, don’t miss out the exclusive one-time payment and 24*7 FREE support. Are you ready to transform your eCommerce store into the next-big-thing with us?