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Fast facts:

eCommerce in Asia

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Asia is leading the way in global eCommerce and is home to the biggest eCommerce market in the world – China, of course. In fact, China accounts for 45% of the world’s global online sales. But as a whole region, the digital economy is set to add $1trillion to Asia’s GDP over the next 10 years*.

When surveyed by Bain and Facebook, 47% of consumers said they decreased their offline purchasing last year, while 30% increased their online spending. Of course, this is a result of the global pandemic, but 83% say they are likely to continue to increase online shopping after the pandemic. With almost half of the population still yet to hook up to the internet, you’ll find there’s all to play for in this booming region.

*(Financial Review, 2021 – https://www.afr.com/world/asia/e-commerce-is-the-next-trade-frontier-with-asia-20210418-p57k5j).

Biggest eCommerce market:

China with sales of £1.17tn in 2020

eStatista, 2021

Fastest growing

Singapore

(+71.1%)

Philippines

(+33%)

India

(+30%)

eMarketer, 2021

Other key markets

South Korea

Japan

Indonesia

Malaysia

UAE

Population:

4.6 billion (Worldometer, 2021)

Internet users:

58% (Statista, 2021)

Purchase power – what did consumers in this region spend in 2020?

$2.525 trillion (DigitalCommerce360, 2021)

Median age:

32 (United Nations, 2019)

handing parcels over from courier to customer

Employment rate:

94%

TheGlobalEconomy, 2020

Average income per adult

Singapore

($59,590)

Hong Kong

($50,800)

UAE

($43,370)

Japan

($41,710)

South Korea

($33,790)

Worddata.info, 2019

Top marketplaces

(WorldFirst, 2020)

Key product categories

Personal electronics

56%

Apparel

48%

Jewellery

42%

Cosmetics

46%

(Nielson, 2019)

Insider tips:

  • Chinese consumers love luxury branded goods and will look to Europe to source genuine brands
  • Sales of appliances and electronics are set to double in India by 2025 due to higher demand in rural areas and the rise of working from home (IBEF, 2021)
  • The Philippines is a largely young, mobile-first population with 65% of Filipinos using mobiles to shop online (Thinkwithgoogle, 2021)

Delivery preferences:

  • Asian consumers typically prefer a quality delivery service and will compromise on speed – they will happily pay for delivery in return for live tracking and insurance

GFS International transit times*

China

(2-13 days)

Indonesia

(2-13 days)

Japan

(2-11 days)

South Korea

(2-10 days)

*Fastest transit time is GFS International Express Service, longest transit time is GFS International Economy.

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