Moreover, within this region, there are mature B2C ecommerce markets, such as Japan and South Korea, while it also includes 3 out of 5 fastest growing online retail markets globally: China, India and Indonesia.
The 3 largest companies within the confines of the region are China-based Alibaba and JD.com and Japan’s Rakuten. Among the global brands with the large shares in the region are Amazon, eBay and Yahoo, the same source indicates.
China is the largest online shopping market in the Asia-Pacific region and second largest worldwide. The number of online shoppers, at over 300 million in 2013 continues to grow as internet penetration rates take larger leaps.
The development of mobile and social media channels for online shopping, the growing popularity of group-buying websites and the rise in purchases of luxury goods online are key growth indicators.
The second market in Asia-Pacific and third worldwide in terms of online retail sales is Japan, with a further predicted growth of close to 10%.
South Korean online shoppers are among the most experienced in terms of online shopping, paying with credit cards online, having the goods delivered to the doorstep through courier services and with a preference for mobile shopping, as the practice of shopping through messaging apps and scanning codes with smartphones at virtual stores.
Australia has one of the highest B2C ecommerce sales rates, reaching a high one-digit percentage of total retail sales. Internet penetration is one of the highest in the region and over three-quarters of internet users make purchases online.
Although Indonesia has an online retail rate of 1% of the total retail market and 2/3 of the population does not yet have internet access, the predictions are encouraging because the growth rate in 2013 was one of the highest worldwide.
Additionally, improving infrastructure, the growing internet and mobile penetration on the large population are expected to contribute to a further surge in sales.
The Indian market registers high growth rate also, with rates of above 50% and further growth up to 2019. Mobile commerce especially has great potential for development, as over 90% of internet users access the web through mobile connections.
Thailand and Malaysia are optimistic prospects for B2C ecommerce growth as notable integration of mobile payments and internet penetration, respectively, are key indicators in that direction.
Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts and figures, preferred payment methods, risk and fraud, as well as ecommerce legislation and regulation for mature and emerging markets.
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