E-Commerce in Asia – Trends You Need to Know for 2022
E-commerce in Southeast Asia has been growing rapidly in recent years. Michelle Leung, Senior Vice President, Head of Fung Omni Services, and Corrie Ren, Vice President - Business Development, Global Supply BD&KA, LazGlobal, shared their insights on the latest developments at a seminar on 6 October.
Across the Southeast Asia region, retail e-commerce sales have grown by 14.3% in 2021. The widespread adoption of mobile devices and the convenience of online shopping – particularly as the pandemic has changed working and living habits – mean that this trend is likely to continue.
This is creating new opportunities and opening new markets for retailers. The speakers said that retailers should make use of social media, particularly to reach the younger generation of consumers, who are accustomed to using online platforms to express themselves and share content.
Joanna Wan, Digital Sales Director, BB Beauty also joined the panel discussion and shared some tips for new sellers. She explained that the Southeast Asia markets are very different from Hong Kong, so sellers should research their target markets thoroughly in advance. Businesses should also ensure that they adhere to all the relevant countries laws and regulations as well as the customs and tax duties when doing business in other jurisdictions.