PUBLISHER: yStats.com | PRODUCT CODE: 1430494
PUBLISHER: yStats.com | PRODUCT CODE: 1430494
Alibaba Group leads the pack among the top 10 retailers in the Asia-Pacific region: New yStats.com report.
In Asia-Pacific, livestreaming retail E-Commerce sales are set to surpass EUR 280 billion
Amidst the global surge in digitalization, technologies like augmented reality, AI robots, drones, and recommendation engines are significantly enhancing the B2C E-Commerce landscape. Moreover, consumer preferences are increasingly favoring trends such as AI-generated content marketing, AR and VR for tailored shopping experiences, and a stronger emphasis on sustainability and ethics.
In the Asia-Pacific region, livestreaming retail E-Commerce sales are poised to maintain growth, albeit at a reduced rate, projected to surpass EUR 280 billion by 2027. Notably, Alibaba Group leads the pack among the top 10 retailers in the region, boasting retail sales exceeding EUR 440 billion in 2022, closely trailed by JD.com Inc.
B2C E-Commerce spending in Japan is set to more than fivefold between 2022 and 2027
China maintains its dominant position in the B2C E-Commerce market, with robust growth forecasts. Projections indicate that the market will reach a figure in the trillions by 2027, with a CAGR exceeding 10% from 2023 onwards. Additionally, the proportion of B2C E-Commerce sales relative to total retail sales in China is expected to notably rise between 2023 and 2027, underscoring the ongoing supremacy of online retail in the country's consumer landscape. Furthermore, it's anticipated that BNPL spending in B2C E-Commerce in Japan will increase by more than fivefold between 2022 and 2027.
As the Asia-Pacific B2C E-Commerce market evolves, businesses are encouraged to embrace technological advancements and consumer-centric strategies to maintain competitiveness and leverage emerging opportunities.