Ecommerce Value in Thailand Reaches $10.2 Billion Last Year, Singapore’s to Hit $7.4 Billion by 2022

Written by: admin on February 4, 2019

Ecommerce Value in Thailand Reaches $10.2 Billion with Growth of 810% Per Year

According to Thailand’s Electronic Transactions Development Agency (ETDA), the ecommerce sector in Thailand witnesses the highest growth in the Southeast Asia region. The ecommerce value in Thailand is expected to hit $10.2 billion, thanks to the increasing confidence in online payment and faster logistics and delivery services.

Besides the ecommerce value, ETDA also unveils that the number of Internet users in Thailand has grown four times over the past 10 years. The momentum is anticipated to continue with the arrival of 5G to create new innovations that will lift up the quality of life for consumers.

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In Singapore, Ecommerce Value to Hit $7.4 Billion by 2022 with Growth Rate of CAGR 7%

Payment technology firm Worldpay states that the ecommerce operations in Singapore will worth $7.4 billion by 2022. The report by Worldpay also cites that online retail is seen to achieve 10.3% of Singapore’s total retail sales by 2022 compared to 5.3% record in 2017.

Additionally, the general manager for Worldpay Asia Pacific comments that the mobile platform will be the driving force behind the expansion. Consumers will look for a frictionless shopping experience which in turn will shift the region’s focus to e-wallets and virtual payment methods.

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Ecommerce Tax is Not Enough; Indonesian Offline Retailers Demand Even Playing Field with Online Sellers

The deputy chairman of the Indonesian Retailers Association has called on the government to establish equality in the competitive landscape of offline and online retailers. He also states that the ecommerce tax previously introduced by the local government will only serve as an ‘antidote’; it won’t be enough to create equal treatment.

Another problem sounded out by the association was that many ecommerce businesses gave massive discounts to customers. As a result, products were often priced below the cost of manufacturing. This also has resulted in the closure of some big retail giants.

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honestbee Gets Green Light from Singapore's Authority to Pilot New Industry Space Concept

honestbee has gained approval from the Singapore Government to incorporate a large-scale retail operation as part of its industrial land’s ancillary use. This move comes as part of the country’s mission to transform into a smart nation.

Last year, honestbee has launched a high-tech supermarket, Habitat. The smart supermarket falls into the industrial land guideline the Urban Redevelopment Authority has set up. Although there is no respond from honesbee, it has stated earlier that honestbee is keen to roll out Habitat beyond Singapore, into the seven other Asian markets where it operates.

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Bukalapak Opens AI and Cloud Computing Center in Bandung, Indonesia, to Focus on Research and Train Talents

Ecommerce platform from Indonesia Bukalapak launches a research laboratory at the Bandung Institute of Technology (ITB) which is expected to serve as its research center on AI and cloud computing for students, lecturers, and researchers.

Training of talents will be another purpose this center will serve. As discovering talents in the field of technology and AI is a challenge to Bukalapak, 200 engineers will train Indonesian and transfer its knowledge to help the growth of the industry.

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