The e-commerce industry has continued to witness exponential growth around the world, with an astonishing USD 2.86 trillion in 2018 and is estimated to grow further to USD 6 trillion in 2022. The not-to-be-missed Asia Pacific market had a 35% economic growth rate in 2018 with a USD 1.8 trillion retail e-commerce sales, positioning it to be a clear leader to achieve one-fourth of global e-commerce share by 2023.
After analyzing 40 metropolitan cities based on 16 key indicators, YCP Solidiance identified the top 12 “E-commerce cities” in Asia, namely Bangkok, Beijing, Ho Chi Minh City, Hong Kong, Jakarta, Kuala Lumpur, Mumbai, Osaka, Seoul, Shanghai, Singapore, and Tokyo. The report highlights that while economic size and growth rate are worth considering, other factors including the city’s readiness to accept digital disruption, network infrastructure, ecosystem and competitiveness, customer behavior and future growth opportunities, also help to determine the attractiveness of its e-commerce landscape.
To learn more, download the full version of the white paper here.