Asia Pacific Accounts for 41 Percent of Global Digital Commerce in 2018
May 20 2019 - 8:05PM
Business Wire
Global market research company Euromonitor International
unveiled today a new white paper, ‘Digitalisation in Asia: How One
Region is Shaping Worldwide Trends,’ examining Asia Pacific’s
digital landscape and what companies need to do to win in the
region.
According to Euromonitor International’s new research, Asia
Pacific leads global digital commerce, accounting for 41 percent of
spend worldwide in 2018. An expanding population, rising incomes
and growth in discretionary consumer expenditure all drive digital
spend.
Michelle Evans, head of digital consumer at Euromonitor
International, says, “the Asian Century will usher in more digital
consumers. The region will contribute the most internet users
globally over 2018-2030, adding 1.6 billion. This is due to an
investment in digital infrastructure, competition-enabling
regulations and the rapid spread of mobile technology.”
Nearly 60 percent of Asian connected consumers have used a
mobile phone to buy a good or service at least monthly according to
Euromonitor International’s 2019 Lifestyle Survey.
Companies need to consider how connectivity has reshaped
lifestyles and how the role of social on these devices are
rewriting commerce. S-commerce is highest among emerging market and
younger consumers. The Asian Generation Z cohort tops their global
counterparts.
At the same time, it’s important for companies to understand how
the region is diverse. “Asia Pacific is one of the most diverse
regions in the world in terms of cultural aspects, demographics and
economic development, and the levels of digital uptake is no
exception. While businesses that wish to win in Asia Pacific must
address fundamental consumer problems as they do in any region,
businesses must also take into account the varying market nuances
of this region, which will dictate what succeeds,” Evans
concludes.
Register now to receive a free copy of the report:
http://bit.ly/2w8NyED
ABOUT EUROMONITOR INTERNATIONAL
Euromonitor International is the world’s leading provider for
global business intelligence and strategic market analysis. We have
more than 40 years of experience publishing international market
reports, business reference books and online databases on consumer
markets.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190520005573/en/
Lisa KanemoriSenior Communications Executive - Euromonitor
InternationalTel: +81-3-3436-2100lisa.kanemori@euromonitor.com