KUALA LUMPUR, May 21 -- Last mile delivery and social commerce are expected to revolutionise consumer interactions with brands in Asia Pacific (APAC) this year, according to Euromonitor International.
In its new whitepaper, ‘Top 100 Retailers in Asia 2020’, Euromonitor looks at how the APAC region continues to accelerate as an innovation hub for retailing.
According to a statement, with two billion Internet users solely in APAC in 2019, social commerce sales reached US$2 trillion and are expected to double by 2024. (US$1 = RM4.345)
While Millennials and Generation Z mostly contributed to the rise of social commerce, digital marketplaces in APAC enabled companies to rapidly pivot onto omnichannel strategies.
This acceleration, amplified with the COVID-19 outbreak, allowed retailers to rapidly adapt in multiple innovative ways, such as contactless delivery.
“With the heavy shift to e-commerce in the height of COVID-19, retailers with a stronger digital presence prior to the outbreak are likely to fare better as consumers lean more into that channel,” said Euromonitor International senior research analyst, Deepika Chandrasekar.
Meanwhile, the company’s research analyst, Clare Lee said concepts like last mile delivery, omnichannel and click-and-collect were accelerated by the pandemic, and were likely to stay afterwards.
Download the report at https://bit.ly/3dOdSYE
Malaysia National News Agency
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