KEY STAT | Facebook report says Southeast Asia e-commerce penetration surpassed India’s

The COVID-19 pandemic boosts the development of e-commerce in the region.

70% or 310 million of Southeast Asian consumers will go digital by the end of 2020, five years earlier than what was previously forecasted by Facebook and Bain & Co. in a research report on the region’s digital trends.

Additionally, the e-commerce market penetration also grew to 5%, surpassing India’s 4%. In comparison, China’s online retail penetration now stands at more than 30% according to the same report.

In the past quarter, Southeast Asia’s e-commerce sector raised a total of USD 691 million, as COVID-19 is reshaping people’s shopping habits, Nikkei Asian Review reported.

Read this: Coronavirus pandemic fuels Asia e-commerce boom

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.