eCommerce to Hit $1Trillion in 2022 as Pandemic shift is permanent!
By: Hershey Chan
January 3, 2022
Digital activity in Southeast Asia increases over the years. With growing market, the digital realm urges businesses to implement the latest trends to promote and improve user interface from their ecommerce site. The Southeast Asian eCommerce market in 2022 will see a massive growth in live streaming, single payment options, blockchain technology, social enterprise, and personalize consumer marketing.
Additionally, mobile-friendly ecommerce website and platforms that implement their roadmaps based on the analytics data will be at an advantage over the succeeding years.
According to Forbes article, pandemic shift is permanent, eCommerce to Hit $1Trillion in 2022.
The report found that:
- The growth in online grocery shopping has persisted. In a three-week period in February, 2021, the category grew by 230% compared to a pre-pandemic three-week period in January, 2020.
- Buy online, pick up in store, and curbside aren’t going away. Buy online, pickup and curbside grew 67% year-over-year this February, and an Adobe consumer survey found that 30% of shoppers prefer curbside and store pickup to standard delivery options.
- Buy now, pay later boomed. Use of delayed payment options grew 215% year-over-year in the January and February, 2021. Consumers using this option are placing orders that are 18% larger.
- Holiday shopping days and sales lost importance. Online shopping became an almost daily occurrence during the pandemic, limiting the impact of the types of holiday promotions that drove e-commerce in the past.
- Out-of-stocks are still a problem as retailers deal with the elevated online demand. In January, 2021, out-of-stock messages were at four times pre-pandemic levels.
- The demand is driving up online prices. Digital purchasing power decreased by 1% on 2020, and categories like grocery and home & garden, that previously saw annual price decreases, had price increases.
Considering this, Genesis Business Solutions provide a complete platform where you can have a fully functional, mobile friendly website that to target the Southeast Asian market specifically. Schedule a call HERE to get a free consultation with Genesis about for your business digitalization.