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October 15, 2014

Online Retail in ASEAN Nations to be the next biggest eCommerce market , worth 22billion USD by 2017

Why ASEAN nations are the biggest Ecommerce HotSpot
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Southeast Asia E-Commerce Set to Boom - Digits - WSJ: " For any investor wishing to enter South East Asia for their internet Ventures or setting up a brick-and-mortar retailers: start up . WSJ has  a word of advice to them are  Beware of not starting your Start"Asia’s E-commerce companies could soon be eating your lunch.

That’s according to a recent study by UBS which showed the region’s consumers are already flocking to e-commerce sites at the expense of traditional retailers’ platforms.I
nternet penetration in these nations  are higher than many assume, and will soon skyrocket thanks to the increasing use of low-cost  devices, gadgets smartphones and the availability of mobile Web connections, according UBS’s head of research and strategy in Thailand, Raymond Maguire,

Presently online shopping in Southeast Asia only accounts for 0.2% of all retail sales now, if it rises to 5%, the market could be worth some $21.8 billion. compared to China By comparison, in China, e-commerce accounts for 8% of retail sale.
Recent rating conducted by  Vela Asia’s eCommerce Readiness Index (eRI) Indonesia  has been ranked as the most eCommerce ready market among the ASEAN nations ,followed by Singapore

The number of people online in Southeast Asia will rise 48% to 294 million in just three years. Meanwhile, Internet penetration across Southeast Asia now stands at 32%, and will rise to 48% by 2017, he estimates.

With a rapidly increasing population with greater disposable income, increase in access to Mobile web, along with galloping increase in web penetration among the south east asian nations..have  helped create  the  perfect infrastructure  for online Business  As elsewhere in Asia, the Mobile web is acting as a huge catalyst in driving consumer internet penetration in these nations along with growing population where mobile is driving consumer internet and subsequent online retail adoption

Internet penetrations among the ASEAN Nations 

(1) Indonesia:    16.72% 
(2 )Philippines :  39.43% 
(3) Vietnam :      42.97% 
( 4) Thailand :     28.84% 
( 5) Singapore :   80.73% 
( 6)Malaysia :       2.24%