Asia’s thirst for E-Commerce is growing but in some areas more than others, a comprehensive market report has revealed. Author: Chris Taylor
Asia’s thirst for E-Commerce is growing but in some areas more than others, a comprehensive market report has revealed.
The ‘Asia B2C E-Commerce Report 2011’ by Hamburg-based market research firm yStats.com has found that growth appears to develop heterogeneously across the Asian continent because of the varying level of internet penetration in each country.
Internet use in Japan in 2010 reached 80 per cent of the 100 million-strong population making it a ripe area for business to customer (B2C) activity. Books were the most purchased item, followed by fashion, music and travel goods and services.
Although B2C internet purchases took a blow following the devastating earthquake and tsunami in March this year, activity is quickly recovering there, said the report, cited by SBWire.com.
South Korea showed a slower growth rate in internet use as most of the country is already online. In 2010, the number of internet users in South Korea rose to more than 35 million. The country was found to be one of the most prolific users of credit card processing methods, says Business Wire.
“Credit card payment enjoys wide-spread popularity in South Korean B2C E-Commerce South Koreans seem to be very open toward new technologies. As a result, B2C E-Commerce is very well established,” it said.
Report authors predict that revenue in this area is expected to generate more than USD$20 billion (£12.7b) by 2015. More than 70 per cent of the total online trade volume is processed using this payment method.
Internet adopters in India meanwhile are growing at a rapid pace. By 2015, another 200 million will be online, representing 20 per cent of the population.