The latest publication from Hamburg-based market research company yStats.com titled “Asia-Pacific B2C E-Commerce Market 2024” shows that several key trends are shaping the industry landscape, including the integration of augmented reality, social commerce, AI-driven technologies, and sustainability initiatives.
In Asia-Pacific, retail sales are projected to grow, led by Alibaba and JD.com
With digitalization on the rise worldwide, technologies such as augmented reality, AI robots, drones, and recommendation engines are playing significant roles in enhancing the B2C E-Commerce experience. Additionally, trends like AI-generated content marketing and the emphasis on sustainability and ethics are gaining prominence among consumers. The use of AR and VR for personalized shopping experiences is also a notable trend driving engagement and conversion rates globally.
In the Asia-Pacific region, livestreaming retail E-Commerce sales are expected to continue growing, albeit at a declining rate, reaching a projected value of over EUR 280 billion by 2027. Notably, Alibaba Group leads the top 10 retailers in the region, with a retail sales value exceeding EUR 440 billion in 2022, closely followed by JD.com Inc.
China’s B2C E-Commerce market is set for robust growth by 2027
China remains a powerhouse in the B2C E-Commerce market, with robust growth projections. The market is forecasted to reach a number in the trillions by 2027, boasting a CAGR of more than +10% from 2023 onwards. Furthermore, the share of B2C E-Commerce sales as a proportion of total retail sales in China is expected to increase significantly between 2023 and 2027, indicating the continued dominance of online retail in the country’s consumer landscape. Moreover, the BNPL spending in B2C E-Commerce in Japan is forecasted to more than fivefold between 2022 and 2027.
As the Asia-Pacific B2C E-Commerce market continues to evolve, businesses are urged to embrace technological innovations and consumer-centric strategies to stay competitive and capitalize on emerging opportunities.
