ASEAN's E-commerce Sector Expected To Boom, Analysts Predict

Socioeconomic conditions in Southeast Asia’s largest markets, which are Indonesia, Thailand, the Philippines, and Malaysia, are expected to spur growth in the region’s e-commerce market. Compared with other regions, ASEAN has a younger population, an expanding middle class, increasing Internet connectivity, rising smartphone adoption, and expanding range of payment options. In the period 2009 to 2014, the proportion of ASEAN population with access to the Internet grew from 12.6 percent to 25.8 percent, and is forecast to grow further to 44.6 percent by 2030. Euromonitor International forecast the apparel and footwear sector in Indonesia, beauty and personal care in Thailand, and consumer healthcare in the Philippines will be the fastest growing segments of the region’s e-commerce market.