Asean e-commerce poised for explosive growth on the back of China's tech dragons

SINGAPORE (Jan 31): The entry of Chinese tech giants into the Asean e-commerce scene could see explosive growth for online retailing in the region, according to Credit Suisse research.

While business-to-consumer (B2C) e-retailing, or e-tailing, has already expanded at a compound annual growth rate (CAGR) of 23% over the past five years, Credit Suisse notes that B2C e-tailing penetration is still less than 2% of total retail sales in Asean.

“To provide context, this was where China was in 2010 and only a tenth of Chinese e-commerce penetration today,” says analysts Santitarn Sathirathai and Michael Wan in a report on Friday.

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