Home / Knowledge / News / Apparel/Garments / Asia Pacific e-commerce to double in 5 years
Asia Pacific e-commerce to double in 5 years
07
Mar '16
China, Japan, South Korea, India, and Australia are tipped to fuel e-commerce growth in Asia Pacific in the next five years.

According research and advisory firm Forrester, total online retail revenues will nearly double from $733 billion in 2015 to $1.4 trillion in 2020. For perspective, $1.4 trillion is about the same amount spent online in 2015 in every market that Forrester forecasts across the globe combined.

In its latest report, Asia Pacific Online Retail Forecast 2015 To 2020, Forrester looks at the growth in these markets over the next five years and some of the key trends shaping the development of online retail in each one of the above-mentioned markets.

Lily Varon, lead author of the Forrester report and analyst for e-business and channel strategy, wrote on the Forrester blog' that China's e-commerce market is growing despite an economic slowdown.

In a turning point in global e-commerce in 2015, China surpassed the US to become the largest e-commerce market in the world, but its economy also dipped below 7 per cent for the first time since 2009. While the days of staggering year over year e-commerce growth in China are behind us, current growth rates are solid and more consistent with other mature markets in the region, like Japan and South Korea.

Varon wrote that India is the fastest growing e-commerce market in the region, but is not without its obstacles. India is the smallest e-commerce market in Forrester's forecast. But India's online sales will grow by more than five-fold by 2020 as the number of online buyers and per capita online spending increase rapidly. However, in addition to underdeveloped logistics and challenging last-mile connectivity, India's cash-based culture still poses a challenge for e-commerce firms, Varon said.

According to the forecast, Japan, South Korea and Australia are mature e-commerce markets. Each of these countries has all of the characteristics of a mature e-commerce market: high Internet and broadband subscriber penetration, a large percentage of online shoppers, and high per-capita online spending.

But each market has unique characteristics that e-commerce leaders operating in these markets, or thinking about doing so, need to know and consider when crafting their offerings, the forecast said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search