Asia overall is now the largest B2C e-commerce market globally, ahead of the US and Europe. The growth and sheer size of major online marketplaces here demonstrates that changes in shopping behaviours of consumers in this region are taking place at an incredibly rapid pace.
Providing insight into the subject is Anthony Quinn, one of the Managing Partners of Lodestar Marketing. He is a seasoned digital marketer with long-standing experience within the affiliate channel, having worked in the industry for over 20 years. He has worked advertiser-side with GAME, the UK’s largest specialist video games retailer, at Rakuten Affiliate leading half of the Advertiser Services team and as a publisher at RebateMango, SEA’s most rewarding loyalty platform.
E-commerce growth
According to a study by Google and Temasek, the online economy (online media, online travel, transport and food plus e-commerce) in Southeast Asia is expected to grow from $105bn in 2020 to $300bn by 2025, with an average annual growth rate of 24%.
When focusing exclusively on the e-commerce category, growth is forecast to outpace both the US and UK.
Interest in the affiliate marketing channel
It’s not just the sales numbers that are painting a bright picture for this region. According to Google Trends data search interest in the query ‘affiliate marketing’ from the last five years has increased at a consistent rate, up over 200% overall compared to the five years prior to this.
The query has increased at a lower rate in the US and UK, growing 188% and 143% respectively. In the main SEA region, however, the search term volume has increased over 300%. This doesn’t take into account the local language differences for the same term in countries such as Thailand and Vietnam, so the number may potentially be higher.
To find out more about what makes the Southeast Asian market truly unique, and a remarkably diverse region with huge demographic and socio-economic differences, read the full blog on the Partnerize site.
There is also a fantastic second part to Anthony’s blog, in which he details what is set for the future of Southeast Asia in e-commerce and some interesting trends that will be at the forefront of the e-commerce space. From the impending return of travel, to the battle of the marketplaces, the rising popularity of fashion in the region and of course the growth of performance marketing, this blog exposes the themes to have on your radar in 2022 to ensure you’re ready to scale at pace with the increasing opportunity in Southeast Asia.
