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Southeast Asia will be the next major boom market for e-commerce in Asia-Pacific (APAC), Marc Woo, Google’s head of e-commerce, travel, and financial services, told the Bangkok Post recently.
APAC accounted for 40% of global e-commerce sales in Q1 2017, but the vast majority of those sales went to larger or more mature markets in the region, particularly China, but also Japan, Australia, South Korea, and India. That leaves Southeast Asia as the next frontier for e-commerce in the region, Woo said.
Two critical factors — a growing middle class and rapidly expanding internet access — are positive indicators for fast-paced e-commerce growth in Southeast Asia in the coming years:
- The middle class population of ASEAN — an association of 10 Southeast Asian nations — will reach 400 million in…