Asia-Pacific Ecommerce Forecast 2024

A Dynamic, Varied, and Hard-to-Predict Landscape

Report by Man-Chung Cheung  | Aug 26, 2024
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Executive Summary
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Table of Contents
Executive Summary
Emerging markets lead retail ecommerce sales growth
An improved outlook is in sight for China's embattled retail sector
Ecommerce sales are picking up in Southeast Asia, providing a bright spot
India’s retail ecommerce sales are still booming, but growth likely has peaked
Sources
Media Gallery
About This Report
The Asia-Pacific retail ecommerce sector is both dynamic and volatile. While China and Japan are slowing, South Korea is growing rapidly, and emerging markets like Southeast Asia and India are showing robust growth and untapped potential.
Topics
Retail Ecommerce Sales
Retail Sales
Asia-Pacific
Table of Contents
Executive Summary
Emerging markets lead retail ecommerce sales growth
An improved outlook is in sight for China's embattled retail sector
Ecommerce sales are picking up in Southeast Asia, providing a bright spot
India’s retail ecommerce sales are still booming, but growth likely has peaked
Sources
Media Gallery

This report explores the shifting dynamics of Asia-Pacific's retail and ecommerce landscape, highlighting key markets like China, Southeast Asia, and India. With growth slowing in some areas and rebounding in others, the analysis reveals critical trends and emerging opportunities for brands and retailers. Intense competition, geopolitics, and shifting consumer behavior are reshaping the future of ecommerce in the region.

Key Question: How quickly will retail and ecommerce sales grow in Asia-Pacific countries, what are the growth trends, and how do companies stack up against each other?

Retail Ecommerce Sales in Asia-Pacific, 2022-2028 (billions, % change, and % of total retail sales)
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Key Stat: Retail ecommerce sales growth in Asia-Pacific will be in the single digits from 2024 to 2028. By 2025, ecommerce will account for a third of retail sales in the region.

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Table of Contents

  1. Executive Summary
  2. Emerging markets lead retail ecommerce sales growth
  3. An improved outlook is in sight for China's embattled retail sector
  1. Ecommerce sales are picking up in Southeast Asia, providing a bright spot
  2. India’s retail ecommerce sales are still booming, but growth likely has peaked
  3. Sources
  1. Media Gallery

Charts in This Report

Retail Ecommerce Sales in Asia-Pacific, 2022-2028 (billions, % change, and % of total retail sales)The Philippines, India, and Malaysia Will Lead Asia-Pacific in Retail Ecommerce Growth in 2024 (% change in retail ecommerce sales in Asia-Pacific, by country/region, 2024-2028)
Retail Ecommerce Sales in Japan, 2023-2028 (billions, % change, and % of total retail sales)Retail Ecommerce Sales in South Korea, 2023-2028 (billions, % change, and % of total retail sales)
Retail Sales Growth in China Will Strengthen From 2026 Through the End of Our Forecast Period (billions in retail sales in China and % change, 2024-2028)Retail Ecommerce Sales Growth in China Will Enter the Single Digits in 2024 (billions in retail ecommerce sales in China, % change, and % of total retail sales, 2024-2028)
Social Commerce Platforms in China Have Grown Their Market Share Quickly in Recent Years (% of retail ecommerce sales in China, by social commerce platform, 2023-2026)Retail Ecommerce Sales Growth in Southeast Asia Will Pick Up This Year (billions in retail ecommerce sales in Southeast Asia, % change, and % of total retail sales, 2023-2028)
Nearly Half of Southeast Asia's Population Will Be Digital Buyers This Year (millions of digital buyers in Southeast Asia, % change, and % of population, 2024-2028)Retail Ecommerce Sales in Indonesia, by Platform, 2023-2026 (billions, % change, and % of total retail ecommerce sales)
Retail Ecommerce Sales Are Still Rising Fast in India, but Growth Has Likely Already Peaked (billions in retail ecommerce sales in India, % change, and % of total retail sales, 2024-2028)Amazon vs. Flipkart Retail Ecommerce Sales in India, 2023-2026 (billions and % of total retail ecommerce sales)
Retail Ecommerce Sales Share of Select Platforms in India, 2023-2026 (% of total retail ecommerce sales)

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authors

Man-Chung Cheung

Contributors

Sky Canaves
Principal Analyst
Nikolai Dineros
Vivian Dong
Associate Forecasting Analyst
Heather Sprung
Senior Editor
Emman Velasco
Chart Editor

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