With less than 30% of ASEAN’s huge population having access to the internet, one can easily estimate the potential for growth for ecommerce in ASEAN Countries is enormous.
The e-commerce retail market in leading 6 ASEAN countries is estimated to be worth around US$7 billion. In the modern world where every transaction possible can be done online, ASEAN still lags behind the rest of Asia.
ASEAN is still behind if compared in terms of infrastructure development with many countries, even not having full internet coverage inside their borders which is creating great hindrances in the possible growth. Online connectivity within ASEAN is still relatively low.
Singapore is the only country in Southeast Asia that has comparable online connectivity with 100% population having mobile connection.
Another key barrier pulling brick and mortar firms from getting online platform is the lack of qualified workers to work on the digitization of businesses.
This will not be wrong if we conclude that ASEAN still lags behind the rest of the world in terms of e-commerce development and it requires dedicated path with skilled people to be as a main driver of growth in the 21st century.
But surely, we all know is this is just the beginning of ASEAN’s long race participation in E-Commerce & Development.