Average online spending per person will triple from 2019 to US$429 in 2025, according to the report. FMTNews Online Shopping
SINGAPORE: Southeast Asia will be home to 310 million digital consumers by the end of this year, reaching a number previously forecast for 2025, as physical distancing measures imposed during the coronavirus pandemic accelerate the shift toward online spending, according to the latest annual Facebook Inc and Bain & Co report.
The study surveyed some 16,500 digital consumers in six countries including Indonesia, the Philippines and Vietnam. The study found that Southeast Asia’s online spending now accounts for 5% of the total retail market, surpassing India’s 4% rate. Even as lockdown measures ease, the region’s total online retail spending is projected to reach US$53 billion this year before tripling to US$147 billion by 2025.
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