According to the e-commerce sales graph provided by Statista, 2021 saw record growth of 22.7% compared to 2020. However, the growth rate for 2022 was a mere 9.7% compared to that of 2021, showing the slowdown of the growth rate in the e-commerce sector.
However, it is expected that this market with decreased growth will encounter a growth of 43% again by 2026 reaching about $8.1 trillion. The reason for focusing on this fact is because the total retail sales market is predicted to continuously grow and reach about twice the growth rate of 2020 in 2026 despite the sluggish growth.
2) US Status
Then what about the e-commerce market of the US, the center of e-commerce worldwide?
According to the US Census Bureau News released by the US Department of Commerce, e-commerce in the US grew by 10.7% just in the third quarter of 2022 and by 6.2% in the fourth quarter of 2022.
Then, which online marketplace drove this growth in the US? According to data from eMarketer, Amazon’s market share was 37.8%, the highest in the market. In fact, the gap between the first and the second and third (Walmart 6.3%, Apple 3.9%) places was significant. Moreover, even if the market shares of 14 companies (2nd to 15th) were added, it was no match for Amazon’s market share.
3) Southeast Asia
Now, let’s turn to the e-commerce market in Southeast Asia in 2022.
According to the WHO, the percentage of people who completed vaccination related to COVID-19 in Southeast Asia on August 2022 was as follows: Singapore 88%, Malaysia 85%, Vietnam 88%, Thailand 78%, the Philippines 68%, and Indonesia 63%. The figure was way higher than the global average of 65%. Therefore, it looks like Southeast Asians quickly returned to pre-pandemic lives.
The following graphs show how many times people in each country visited public gathering places including shopping centers, restaurants, cafés, theme parks, museums, libraries, and movie theaters during different periods. The outbreak of the pandemic was set at 0 in the graphs and looked at people worldwide. It can be said that people from major Southeast Asian countries quickly returned to their pre-pandemic lifestyles.
The answer is Shopee.
Shoppe is a marketplace where the headquarter SEA group is located in Singapore. It is a relative latecomer which started its service in 2015. However, it went through fast growth for several years, reaching a monthly average web session of 403 million in the second quarter of 2022. It beats Lazada and Indonesia’s largest market place Tokopedia that are active in the same 6 Southeast Asian countries. In the third quarter, Shopee marketplace processed 2 billion orders, placing itself as the number one marketplace in Southeast Asia.
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