12 Sep Asia: E-commerce is booming
Asia: E-commerce is booming | Everyone may know e-commerce is booming, but which region is leading the race?
Global retail e-commerce sales reached an all-time high of 16.4% in 2021 as countries were on lockdown and stores were forced to close their doors, according to data from McKinsey & Co.
Sales in retail e-commerce in 2021 were around $4.9 trillion in 2021, and this figure is projected to increase by 50% over the next five years to reach approximately $7.4 trillion by 2025.
E-commerce growth in Southeast Asia stands out more than in any other region in the world. The region is expected to experience a 20.6% expansion in 2022, with sales reaching $89.67 billion from $74.36 billion in 2021. E-commerce in the region is expected to pass $100 billion by 2023.
NAOS International has been supporting clients in the Tech & Digital space, hiring top talents for firms to capitalize on growth opportunities in the region. Reach out to our team to learn more about how we can support your growth in SEA.
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