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Southeast Asia’s internet economy hits $100 billion

The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.

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The internet economies in Malaysia, Thailand, Singapore and the Philippines are growing by between 20% and 30% annually, with no signs of slowing down, according to Google and Temasek multi-year research program. 

This is a remarkable feat compared to other regions, but hardly the best showing in Southeast Asia. The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.

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The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.

Time is money: competing for user engagement

Companies are switching their focus from acquiring new customers to driving engagement. Their goal is to convince users to stay on their platforms for longer, in the belief that purchases will follow. Vying for user engagement, companies have expanded their scope across sectors, moving into new services, gamifying promotions and streaming enticing content.

This has ignited more intense competition, while providing users with more choices and lower prices.

Growth opportunities beyond metros

The growth of the internet economy has yet to spread evenly across Southeast Asia. Seven metropolitan areas that house just 15% of the region’s population still account for more than 50% of the internet economy.

People living in these metro areas buy six times more online than those living elsewhere. The internet economy, however, has the potential to grow twice as fast in areas outside the big cities, bringing all Southeast Asians on board.

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Ecommerce

Alibaba confirms $13bn listing in Hong Kong

Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.

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Chinese technology giant Alibaba on Friday confirmed plans to list in Hong Kong in what it called a $13 billion vote of confidence in the turbulent city’s markets and a step forward in its plans to go global.

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Ecommerce

E-commerce in ASEAN: Digital technology and players

The 50 most-funded e-commerce start-ups in ASEAN have raised $12.6 billion as of July 2019, with most of the funding raised in the last two years

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E-commerce has been the most dynamic segment of the Internet economy in ASEAN over the past three years. The value of e-commerce rose four-fold, from $5.5 billion in 2015 to more than $23 billion in 2018.

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Asean

Malaysia and Thailand better positioned to develop e-commerce

Countries with more developed infrastructure, such as Malaysia and Thailand, are better positioned to develop e-commerce. Thailand could be set to experience a surge in e-commerce activities over the coming years

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Online shopping is increasingly popular in key ASEAN cities, thanks to improved infrastructure and the variety of payment options, including cash-on-delivery, bank transfer or paying at the 7-Eleven store.

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