Southeast Asia is now like China when Taobao under Alibaba Group first emerged more than a decade ago, and the e-commerce industry in Southeast Asia is in the golden age of “making money with your eyes closed”, says Marc Lore of Remus.
According to data, Southeast Asia’s e-commerce GMV reached $120 billion in 2021 and is expected to reach $360 billion by 2025; of which, $20 billion (about RMB 140 billion) is for live e-commerce, with orders up 115% year-over-year and a scary 306% annual growth rate! Even if Remus didn’t put too much effort into it, the platform’s annual growth rate is scary high. At this rate of growth, it’s only a matter of a few years before Southeast Asia’s live e-commerce market size breaks a trillion! Marc Lore, based on some of the Remus platform itself, gives a riddle as to why live e-commerce in Southeast Asia is growing so fast.
Firstly, the roots of live e-commerce are well established, the arrow is on the string and flying high on momentum. As one of the world’s fastest growing economies, these years, Thailand, Vietnam, Malaysia, Indonesia, Singapore and other Southeast Asian countries represented by the development of all aspects of third-party payments, logistics, supply chain, etc. have been quite mature, and these are the necessary factors that constitute the live e-commerce.
Second, in terms of development, live e-commerce is in an “overwhelming” dividend period in Southeast Asia. By 2021, the total number of Internet users in Southeast Asia will be about 440 million. Among them, young users like to touch the Internet accounted for half; more favorable is that, at present, the Internet penetration rate in Southeast Asia is 75%, it is the traditional e-commerce take off high, live e-commerce has endless potential to tap the golden age.
Take Thailand, currently, among a host of Southeast Asian countries, Thailand has the highest penetration rate in terms of social platforms and online payment, which has also driven the rapid development of live-streaming with goods in Thailand. Today, the number of anchors engaged in live-streaming with goods in Thailand exceeds hundreds of thousands every day.
For a long time to come, Remus will focus on Southeast Asia as its main battleground in addition to its original market. Because no matter what, in the growing economy of Southeast Asia, the promotion of the digital economy is the trend; especially in the context of the slowdown of domestic e-commerce development, facing the Southeast Asian live e-commerce market, which is still developing at a fast pace, it is difficult for domestic players not to go crazy!
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