Southeast Asian e-commerce player Lazada said it received a record of 3 million orders within the first 60 minutes of the mega 24-hour shopping event known as Singles Day or 11.11.A report from Forrester Research said online retail in the region will grow from $19 billion in 2018 to $53 billion by 2023, accounting for 6.5% of all retail sales.
E-commerce, along with ride-hailing, are said to be the main drivers of Southeast Asia's internet economy, which, according to a popular industry report, isA report from Forrester Research said online retail in the region will grow from $19 billion in 2018 to $53 billion by 2023, accounting for 6.5% of all retail sales. Most of those online retail sales will come from mobile.
"We also see marketplaces consolidating," Wang said. "A lot of smaller marketplaces are either gone or got merged. Now, we're left with really the top-tier players and a few smaller niche players."
Why are you spinning this foreign economy to be great... but undercutting America every chance you get?
I mean they even got Ronaldo...
Another kind of Chinese influences.
The Singapore Navy even has a Singles Day promo