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E-Commerce in Southeast Asia – US$ 300 Billion by 2025

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E-Commerce in Southeast Asia – US$ 300 Billion by 2025 12 August 2020 Event Partner 1 Speakers Mai Dang Deridian Nurhalim Prashasti Agrawal Geoff Hughes Trade Commissioner Content Marketing for Singapore Cross Border E-Commerce Regional Director GloBal Affairs Canada iPrice Group Shopee Fireshot Pte Ltd. WHY ASEAN? The Mission of Canada to the Association of Southeast Asian Nations (ASEAN) August 12, 2020 TRADE COMMISSIONER SERVICE (TCS) Table of Content 1. Introduction 2. ASEAN, the Organization • ASEAN-6 3. ASEAN’s Economic Profile 4. E-Commerce Dynamics in Southeast Asia (and Elsewhere) 5. MaJor E-Commerce Platforms 6. Regional Outlook 4 The Association of Southeast Asian Nations (ASEAN) 5 ASEAN’s Economic Profile • GDP growth averages 5% since 2014 • Nominal GDP estimated at US$ 2.8 Trillion in 2018 [Indonesia (35%), Thailand (17%)] • 5th largest world economy in terms of GDP behind U.S., E.U., China and Japan 6 E-Commerce in Southeast Asia – US$ 300 Billion by 2025 SEA’s e-commerce is forecast to reach US$ 300B by 2025 from US$ 34B in 2015 and US$ 98B in 2019. • Indonesia: from US$ 8 B in 2015 to US$133 B in 2025 • Malaysia: from US$ 8B in 2015 to US$ 26B in 2025 • Philippines: from US$ 2B in 2015 to US$ 25B in 2025 • Singapore: from US$ 7B in 2015 to US$ 27B in 2025 • Thailand: from US$ 6B in 2015 to US$ 50B in 2025 • Vietnam: from US$ 8B in 2015 to US$ 43B in 2025 7 Growing E-Commerce in Southeast Asia and Elsewhere… 8 Major E-Commerce Platforms in Southeast Asia Singapore Malaysia Vietnam Indonesia Philippines Thailand 9 Euromonitor, 2019 Outlook of E-Commerce in Southeast Asia • Demand fuelled by growing and high tech savvy middle class and improving internet access • Strong demand attracting new players • Underlining needs for more regulatory, legal and fiscal harmonization to address new and emerging concerns (e.g. consumer protection, payments, cybersecurity and taxation) • Sales remain concentrated in more developed urban areas • Shifts towards online shopping to continue • E-commerce companies working with logistics to boost competitiveness • Gradual adoption of “mobile wallets” impacting sales 10 11 Southeast Asia’s Map of E-commerce by Wednesday, 12th & 13th August 2020 What am I going to share with you today? 1. Southeast Asian’s Consumer Behavior 2. Map of E-commerce, Southeast Asia 3. Marketing Channels: Mobile vs. Desktop About Us Hi! I’m Deri Content Marketing for Singapore – iPrice Group [email protected] Southeast Asia‘sSoutheast Prime Asia‘s Lead prime Generator lead generator 20M 500+ M Visitors Monthly Products available 1,300+ 210 Stores and Partners Employees of 28 nationalities $70+ M +350% Annual GMV to our partners Growth over the last 12 months 7 Kuala Lumpur Countries across Headquarters Southeast Asia E-commerce is growing exponentially SEA E-commerce market size (GMV, $B) Source: e-Conomy SEA 2019 – Google, Temasek and Bain Company COVID-19 struct the whole world, including SE Asia #1 How consumers are shopping? SEA’s consumer behaviors The most sought-after items Singapore The Philippines The most sought-after items Vietnam Indonesia #2 How will this be beneficial for e-commerce operators? #2 Southeast Asia’s Map oF E-commerce An Authoritative Study on the Biggest E-commerce platforms in SEA Southeast Asia’s Map of E-commerce Southeast Asia’s Map of E-commerce Double-Digit Growth in E-commerce Visitors • Overall, E-commerce in SE Asia 780 garnered a 12% increase of visitors. 771.68374 760 740 +12% • Received additional 82,7 million 720 visitors* in Q2 2020. 700 MILLIONS 688.977502 680 • Leveraged the current situation, many 660 Total web visitors businesses open their online stores. 640 Q1 2020 Q2 2020 Year of 2020 * Not unique monthly visitors Southeast Asia’s Map of E-commerce Increase Country in % (Q1-Q2) • Malaysia & Thailand had the highest increase Indonesia +12% of visitors from Q1 to Q2 2020. Malaysia +35% • Vietnam had the second highest number of visitors, signifying the tremendous increase of Philippines +18% online shoppers in the country. Singapore +12% • While this indicates an upward trend, the positive proJections may continue towards the end of 2020. Thailand +23% Vietnam -0.48% What have we witnessed? • COVID-19 accelerates the adoption of E-commerce immensely in Southeast Asia even quicker • Huge increase in demands for diverse product categories • Major shift in people’s lifestyles across the region #3 What are the preferred marketing channels? #3 Mobile vs. Desktop The transformation of mobile internet in the region Mobile Desktop Source: statcounter GlobalStats – Desktop vs Mobile Market Share in Asia #3 Mobile vs. Desktop The transformation of mobile internet in the region Source: Digital 2020 – We Are Social & Hootsuite #3 Mobile vs. Desktop The transformation of mobile internet in the region • The global average of mobile internet users is 3 hours 13 minutes. • Thailand spent more than any other countries by 5 hours and 13 minutes a day. • While the users in Indonesia, Philippines and Malaysia spent an average of 4 hours a day. Source: e-Conomy SEA 2019 – Google, Temasek and Bain Company How about conversion rate? Consumers’ Device of Choice for Purchases (MoBile VS Desktop) • Conversion rate for desktop is on average 1.7x times higher than the average mobile conversion rate. • Vietnam and Indonesia are above the average mobile conversion rate. • An indication of consumer’s preferences in finalising larger purchases on desktop. Source: The State of eCommerce 2017 by iPrice Group – Data garnered from thousands of eCommerce merchants in Malaysia and across the region from the past 12 months (Q3 2016 – Q2 2017) Mobile vs Desktop Basket Size • The Basket Size results to be closely correlated to the GDP per capita of each country. • The average order value is consistently higher on desktop vs. mobile. Source: The State of eCommerce 2017 by iPrice Group – Data garnered from thousands of eCommerce merchants in Malaysia and across the region from the past 12 months (Q3 2016 – Q2 2017) The transFormation oF mobile internet in the region Source: Yearend of Map of E-commerce 2019 by iPrice Group – Mobile E-commerce apps were identified by iPrice Group & App Annie from shopping categories in iOS & Google Play in 2019 (Q2 2019 – Q4 2019) Key takeaways 1. Though consumers are more likely to browse for products via mobile, they are more likely to make purchases on desktop. E.g. Malaysians browse for products on the go even during the 9th May elections. 2. Southeast Asians today are more likely to purchase not only the essentials but also other product categories. 3. More needs to be done (attractive deals, additional services, etc) by merchants to improve CR. Thank you! [email protected] The Leading Ecommerce Platform in Southeast Asia History And 01 Milestones 41 42 43 4448 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 THANK YOU! Any enquiries please reach out to Shopee Cross Border Team Faye Yan ( [email protected] ) Prashasti Agrawal ([email protected]) Windy Angela ( [email protected] ) Xiang Ming ([email protected]) You still have time to register for our next e-commerce weBinar “Why Singapore?” on Wednesday, August 19th Follow the URL code below to register for the remaining 6 webinars in our 8-part e-commerce webinar series During these webinars you will have the opportunity to hear from leading regional experts including Lazada and Shopee, as well as from major global players such as Amazon, FedEx and Shopify. Don’t miss this exclusive opportunity! Thank you for attending! We will make the weBinar recording and slides availaBle shortly. If you have any questions regarding this weBinar please email [email protected].
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