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.
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.