E-commerce is binding together the economies of Southeast Asia’s nations, helping fulfill a decades-long aspiration for an ASEAN common market and opening enormous new opportunities for companies to reach the region’s swelling pools of middle-class and affluent consumers.
The Megatrends Shaping ASEAN E-Commerce
Affluent households are now growing faster than the middle class, boosting de-mand for affordable luxury goods and “experiential” products, while rapid urban-ization is creating a demand for convenience. A preference for engaging directly with sellers through social media distinguishes Southeast Asian e-commerce.
Harnessing the Power of the Digital Economy
To capture the opportunities, companies will need a holistic transformation comprising ASEAN-wide digital strategies and the ability to identify and engage with new market segments by analyzing the immense amounts of data generated by the region’s connected customers. Businesses should also work with ASEAN governments to ease cross-border data flows through improved regulations and security.
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