Report: China, India, Indonesia Drive Asia-Pacific to Account for Half of Global E-Commerce
Dec. 17, 2015
Chinese consumers’ growing appetite for e-commerce seems not only unlikely to end, but to accelerate, according to a new report. New York City-based eMarketer said China alone will account for more than half of global e-commerce spending by 2018. This year for the first time, the research firm predicted, the Asia-Pacific region—including China, Japan, South Korea, Australia, India and Indonesia—will exceed 50 percent of global digital retail spend. Online retail sales in the region will reach more than $877 billion this year with total worldwide digital spend for 2015 predicted to exceed $1.67 trillion.
In 2018, eMarketer said China will account for nearly $1.6 trillion out of $3 trillion in global e- and m-commerce sales. Along with China, India and Indonesia will drive most of the growth in the Asia-Pacific region, according to the report. Retail e- and m-commerce sales in India will more than double from just over $6 billion in 2014 to $14 billion this year and online sales in Indonesia will rise from less than $2 billion last year to more than $3.2 billion this year.
Monica Peart, eMarketer’s director of forecasting, said: “This rapid growth in Asia-Pacific coupled with faster Internet service and greater mobile uptake, is heating up the competitive landscape where large local players are increasingly vying for market share by improving their logistics and mobile platforms, and in some cases moving entirely to an app-only service.”