With high smartphone penetration and growing economies, the Southeast Asian nations of Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam are attractive markets for online retailers.
Research firm Forrester estimates online retail in the region will grow at a compound annual growth rate (CAGR) of 23% to reach $53 billion in 2023.
Other factors that are expected to contribute to online retail’s growth in the region include an undeveloped offline retail market, where logistics costs have resulted in Southeast Asia having one of the lowest levels of retail gross floor area and limited stock-keeping units (SKUs) and a young population. By 2020, nearly half of Southeast Asia’s population will be under the age of 30, with more than 55% of its working-age population being tech-savvy millennials.
MySale Group (LON:MYSL) is a leading international online retailer with established retail websites in Australia, New Zealand, South-East Asia and the United Kingdom. Founded in 2007, the Group provides customers with access to outstanding brands and products at discounted prices whilst simultaneously providing brand partners unique international inventory and sales solutions.
