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E-commerce booms in Southeast Asia since pandemic breaks out

An estimated 70 million more people shopped online in six Southeast Asian countries since the COVID-19 pandemic broke out, according to a report from Facebook and Bain & Company.
E-commerce booms in Southeast Asia since pandemic breaks out ảnh 1Grab delivery cyclists ride past each other in Singapore in 2020 (Photo: AFP)
Hanoi (VNA) – An estimated 70 million more people shopped online in sixSoutheast Asian countries since the COVID-19 pandemic broke out, according to areport from Facebook and Bain & Company.

As governmentsencourage people to stay at home to curb the spread of the coronavirus, Southeast Asia saw arapid adoption of digital services like e-commerce, food delivery, and onlinepayment methods.

This trend ispredicted to continue in the coming time. The report, which surveyedmore than 16,000 people in Indonesia, Malaysia, the Philippines, Singapore,Thailand and Vietnam, projected the number of digital consumers in SoutheastAsia will reach 350 million by the end of this year.

By the end of 2021, Facebook and Bain expect more than 70 percent ofpeople 15-years-old and above in the surveyed countries to shop online. The reportpredicted the number of online shoppers in Southeast Asia will reach 380million by 2026.

Among the surveyed countries, Indonesia, the largest economy in SoutheastAsia, continues to see the highest growth rate, the report said, adding thatthe country’s digital consumer population is predicted to grow around 15percent, from 144 million in 2020 to 165 million in 2021.

According to the report, in the first three months of 2021, 88percent of private equity and venture capital investments in the region flowedinto the technology and internet sector. Of that, 56 percent went intofinancial technology./.
VNA
#COVID-19 pandemic#online shopping#Southeast Asia#online payment method#e-commerce#Vietnamplus#Vietnam news#Vietnam News Agency
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