Summary
As the pandemic took effect in 2020, offline retail in the six Southeast Asian markets of Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam took a hit. While store closures continued throughout the year, consumers moved to online channels, which in turn helped marketplaces in the region record their highest growth. Offline retailers that latched onto digital fared well. Southeast Asia emerged as the fastest-growing online retail market globally, registering an increase of 53% in 2020. All categories performed well. In particular, grocery experienced the sharpest ever spurt in growth. This report presents our Southeast Asia online retail forecast for 2020 to 2025.
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