Online shopping no longer remains an option for Southeast Asian (SEA) consumers but an essential part of life, according to media intelligence firm Meltwater.
In its latest report, Meltwater said online shopping is already part of the “natural way of life” in SEA as shoppers flock to online platforms for all or most of their purchases during the pandemic.
Based on their study, online conversations around e-commerce in Southeast Asia have already crossed the 1-million mark in 2021—and the year’s not even over yet.
“Online shopping has become a natural way of life for Southeast Asian consumers now, but fatigue from the pandemic is causing them to seek out more engagement and novelty in their purchase journey,” Mimrah Mahmood, senior director & partner at Meltwater Asia Pacific, said.
“This presents both an opportunity and a challenge for retailers—and the key to success is to stay ahead of these trends to continue engaging and attracting shoppers,” he added.
Conversations with sellers and livestreaming of the sale of goods are also enhancing the online shopping experience in SEA.
Meltwater said that conversations around livestreaming jumped 213 percent this year. Shopee’s data supported this finding and reported a 2.5 times increase in annual livestream viewership on its platform.
Further, Shopee reported a 60- percent year-on-year growth in the number of their active sellers on the platform since the start of the pandemic.
Many of Asean consumers also flocked to online platforms for mega sales to take advantage of discounts. The Single’s Day and 9.9 sales were among the most popular events with over half a million online conversations on the topic.
“The Covid-19 pandemic sped up SEA’s embrace of e-commerce in surprising—and permanent ways,” Meltwater said in a news statement issued on Monday.
The report stated that in SEA, the growth of the digital economy has contributed to the addition of 70 million new online shoppers since the start of the pandemic.
On social media, conversations around e-commerce have already crossed the 1-million mark in 2021—and the year’s not over yet.
Citing Adobe, Meltwater said global e-commerce sales are
expected to reach $4.2 trillion this year, but competition is heating up.
“What this means is that even though the e-commerce opportunity is apparent in the region, retailers need to work harder than ever to win consumers’ attention and share of wallet,” the report stated.
The findings were included in a new guidebook from Meltwater titled “Unlocking E-Commerce Success in Southeast Asia.”
The data in the guidebook was based on the study of online conversations across the region to identify emerging trends and opportunities in the e-commerce landscape in the lead up to the upcoming holiday shopping season.