, Southeast Asia
671 views
Photo from Unsplash

Southeast Asia e-commerce revenue up 28% YoY to $28b in 2023

The sector was also supported by the rapid growth of new entrants.

The e-commerce sector in Southeast Asia continues to grow with a 22% year-on-year revenue growth to $28b, and gross merchandise value (GMV) increase of 6% to $139b in 2023 as markets continue to monetise amidst high customer engagement and driven by new entrants.

In a joint study by Google, Temasek, and Bain & Company, the region's GMV is expected to further increase by 16% to reach $186b by 2025.

ALSO READ: Time on shopping apps to reach 26.6 billion hours due to holidays

"Revenue has grown faster than GMV as players increase take rates and expand to adjacent revenue streams (e.g. logistics, advertising, etc.). This trend is expected to continue into the medium term," the report read.

Offering additional revenue streams has become the common way to increase revenue per order and overall revenue growth.

Brand awareness and drive orders could also be increased through advertising, particularly seller-funded in-app ads, and this is poised to be the core of future monetisations.

The report added that new entrants in the market have accelerated their growth and boosted the overall market growth as they turn the informal and unorganised e-commerce forms into organised platforms.

Aside from these, artificial intelligence-led recommendations can also help in increasing customer basket size and "drive improved unit economics and economies of scale."

"Players need to look beyond the high-value segment and increase both the size and purchase frequency of their customer base to drive long-term growth and profitability," the report added.

 

Follow the link for more news on

Swarovski menguasai TikTok untuk perluas skala luxury di kalangan Gen Z

Produsen Kristal asal Austria ini bekerja sama dengan influencer untuk menjangkau pasar Singapura.

Foodpanda mengotomatisasi ‘dark stores’ di Singapura untuk mempercepat pengiriman

Gudang 24/7-nya memastikan pemenuhan pesanan sepanjang waktu.

Peritel Singapura masuk pasar Thailand dan Malaysia melalui Shopee dan Lazada

Menjual di platform-platform ini jauh lebih murah dibandingkan membuka toko fisik.

Dear Me Beauty berencana membuka flagship store

Store ini dapat menjadi fondasi bagi pertumbuhan pasar yang lebih luas.

Rakuten menggunakan robot otonom untuk meningkatkan pengiriman tahap akhir

Mereka dapat melakukan pengiriman pada malam hari dan saat cuaca buruk berkat sensor LiDAR.

Erajaya Digital membuka toko elektronik terbesarnya

Cabang ini merupakan toko konsep ke-80 dari sekitar seribu cabang yang tersebar di seluruh Indonesia.

Pasar perawatan hewan peliharaan melejit di Singapura

Mereka menghabiskan uang untuk pelajaran renang, yoga hewan, pilates, dan lainnya.

Jaringan makanan cepat saji asal Cina membidik listing di Hong Kong

Mereka menggunakan kota ini sebagai tempat uji coba untuk ekspansi lebih lanjut ke luar negeri.