SINGAPORE (Dec 24): The holidays are upon us and, traditionally, the season would be one of good cheer for retailers as people load up on festive food and gifts. These days, however, shoppers’ dollars and goodwill have spread to scores of online stores. These stores are ready to express ship just about anything and everything — from groceries and furniture to electronics, clothes and luxury handbags — at a moment’s notice.
According to a report by Google and Temasek Holdings, e-commerce transactions in Southeast Asia amounted to US$23 billion ($31.5 billion) this year, double that of the year before. There were 120 million shoppers, 2½ times more than just three years ago. The value of transactions is expected to quadruple, to hit US$102 billion in 2025.
The report also noted that some US$30 billion was spent on booking holidays online, while another US$8 billion was spent on transport and food delivery. Taken as a whole, the internet economy in Southeast Asia was worth some US$72 billion, and will surge threefold to US$240 billion in 2025.