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Why 2018 Was the ‘Year of Ecommerce’ in Southeast Asia

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Henry Booker
Dec 03, 2018 19:28
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The digital economy in Southeast Asia is on track to hit $240 billion by 2025, which is $40 billion more than previous estimates, according to the latest e-Conomy Southeast Asia 2018 report from Google and Singapore-based Temasek, which manages investments and assets for the government.

The report said the internet economy in Southeast Asia “hit an inflection point in 2018,” thanks in part to the most engaged mobile internet users in the world, as well as industries like ecommerce, online media, online travel and ride-sharing, which grew at never-before-seen rates.

As a result, the region’s internet economy will hit $72 billion this year alone, which means it will have more than doubled since 2015.

And, the report said, investor confidence in the region is growing as startups raised $9.1 billion in the first half of the year, which is almost as much as they raised in all of 2017.

This year was also the first that ecommerce platform Lazada, which Hangzhou, China-based shopping titan Alibaba acquired in March, brought its Singles Day hysteria to the six Southeast Asian countries in which it operates: Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam.

As a result, Singapore-based Lazada said 20 million consumers in the region browsed and shopped on Nov. 11.

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Henry Booker
Dec 03, 2018 19:28
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