Asia-Pacific is still the largest B2C e-commerce market and even increased its lead over the other regions in 2014. The Asian-Pacific online turnover grew by 44.1% to $ 770.0bn last year. Even though it is expected that the Asian-Pacific growth rate will be cut by more than half to 20.2% in 2015, it will still be one of the fastest growing e-commerce markets in the world.
Within Asia-Pacific, China is by far the largest e-commerce market and even the largest in the world. In total, Chinese online sales amounted to $ 538.1bn, which represents a growth of 63.8% compared to the preceding year. The region’s second-largest e-commerce market is Japan, with an online turnover of $ 135.5bn. This makes Japan the fourth-largest e-commerce market in the world.
The B2C e-commerce markets of other countries in Asia-Pacific are remarkably smaller. Australia ranks third with an online turnover of $ 21.0bn, followed by South Korea ($ 20.2bn), India ($ 19.4bn) and Indonesia ($ 2.9bn). It should be noted, however, that Indonesia experienced an enormous growth in 2014. The country’s B2C e-commerce sales increased by nearly 58%. Together with China, it ranks high above the other Asia-Pacific countries in this regard.
Internet penetration and eGDP share
It is interesting to see that, despite of the presence of some e-commerce giants, the Asian-Pacific Internet penetration is on average the lowest of all global regions. Only 37% of the population is connected to the Internet, while in other regions this percentage ranges from 56% to 77%.
Within the region. Japan has the highest Internet penetration (91%), followed by Australia (85%) and South Korea (84%) Of the emerging countries, China has the highest Internet penetration (49%), which is actually quite low for a country with such a huge e-commerce market. One can only imagine to what heights the Chinese online turnover can grow when the country’s Internet penetration continues to develop. The Asian-Pacific countries with the lowest share of people being connected to the Internet are India (18%) and Indonesia (17%). However, it should be noted that the India’s and Indonesia’s Internet penetrations have (nearly) tripled since 2009.
While the Internet penetration is lagging behind compared to other regions, Asia-Pacific has the highest online share in the Gross Domestic Product (3.33%) of all regions. This so-called eGDP was in 2014 even five times as high as it was in 2009. The country with the highest eGDP in Asia-Pacific is China. At 5.19%, it even has the highest eGDP share of the world.
This is all evident from the Asia-Pacific B2C E-commerce Report the Ecommerce Foundation has published. In addition, the report is powered by GfK, Global Collect|Ingenico and Asendia.
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