Southeast Asia's e-commerce market in full swing

According to the latest study by UBS, e-commerce markets in Southeast Asia are booming and consumers in the region are flocking to e-commerce sites from the traditional retailer platform.

Raymond Maguire, head of research and strategy at UBS in Thailand, said internet penetration in Southeast Asia has outpaced industry insiders thanks to the development of cheap smartphones and mobile networks, and now In rapid growth.

This trend has already posed a threat to traditional retailers as consumers in Southeast Asia visit their online retailer platforms 41 times as often as they visit traditional retail platforms based on imperfect retail logistics systems and credit cards The system is not yet universal

Online retailers are steadily snatching up the physical store market, and as more people shop online, the online retail market will become more prosperous. Maguire said: "The strength of the balance has been tilted to the online platform, the traditional retailers have to act now." He believes that although there is no price in Southeast Asia, online retailers, but Rocket Internet Mimic Amazon's e-commerce platform Lazada has become the most popular e-commerce platform in many countries.

In addition, many e-commerce brands, including China's top e-commerce giant Alibaba and Japan's largest online retailer, have also entered the market.

Currently, the online shopping market in Southeast Asia only accounts for 0.2% of the total retail market in the region. If the proportion rises to 5%, it will reach 21.8 billion U.S. dollars. In contrast, China's e-commerce market accounts for 8% of the total retail market.

Maguire uses big data analytics to analyze traffic to 10,000 of the most popular retail Web sites in Southeast Asia and found that e-commerce sites far outnumber those of traditional retailers, with the latter accounting only for total visits 2.4% of the amount.

Maguire also compared the Southeast Asian retail market to the Chinese retail market from 2006 to 2008, during which time China's Internet penetration doubled and the surge in online consumers directly boosted the Chinese e-commerce market Rise.

It is estimated that there are currently nearly 200 million people accessing the Internet in Southeast Asia, which is more than the 62 million estimated by comScore, a market research firm, last year. Maguire estimates that the number of people using the Internet in Southeast Asia will grow by 48% over the next three years to 294 million, while Internet penetration will rise from 32% today to 48% by 2017. (Lin Jingdong)