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Mobile Drives Shopping Experience in Market

Home to over 500 million consumers, Southeast Asia is a huge market. According to a recent study by UBS released in June 2014, online spending across the region has the potential to hit US$35 billion (S$46.3 billion) by 2020. Online retailer Lazada claims to have more than 2 million daily visits to its websites, but it said that less than 2 per cent of consumers in the region shop online, compared to about 8 per cent in China and more than 10 per cent in the US and UK. Maximilian Bittner, CEO of Lazada Group, said: "If you compare the penetration of e-commerce in Southeast Asia and in Singapore versus other markets like China, India, Europe and the US, the upside potential is massive. I think any estimates at the moment of the share of online sales in total retail average around 1.5 per cent. There is no reason that this should not catch up to other markets at 7 to 8 per cent of total retail over the next few years."



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