Asian Ecommerce Markets To Hit $1.5 Trillion By 2020

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Five East Asian ecommerce markets are expected to grow to have a combined value of almost 1 and a half trillion US dollars by 2020, according to research by Forrester. The study concerns China, India, Japan, South Korea and Australia. It predicts that China will form the lion’s share of the region’s ecommerce market by 2020, totalling a staggering 1.1 trillion US dollars. The Indian ecommerce market is predicted to be worth 75 billion US dollars by that time, with Japan and South Korea’s ecommerce markets being expected to be worth 122 billion US dollars and 65 billion US dollars respectively. Looking at patterns that set this region apart from the rest of the world, the dominance of local, web-only retailers stands out. Local ecommerce-only companies such as Rakuten, Tmall, Taobao, Flipkart and Snapdeal are extremely popular in the region, and this popularity is expected to continue over the next 4 years. 

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