E-commerce share of total retail APAC 2023, by country or territory

In 2023, China had the highest e-commerce penetration in retail in the Asia-Pacific region, with a share of about 29 percent. In comparison, India had an e-commerce share in total retail sales of approximately four percent in 2023.

The rise of e-commerce

The Asia-Pacific region showed high penetration rates of e-commerce in the past few years. The region appears to be heading in the direction of a cashless society, with cash on delivery being one of the least used e-commerce payment methods. Furthermore, digital wallet usage was by far higher than credit or debit card usages for e-commerce payments. Unsurprisingly, e-wallet usage was forecasted to increase by 2027, which would further tighten e-commerce’s grip on the Asia Pacific retail sector.

New ways of commerce

The global pandemic had a monumental impact on e-commerce throughout the Asia-Pacific region. Although many industries were negatively affected, it was the shift in the e-commerce industry. Many consumers in the region prefer shopping online over physical stores, as there are more benefits and it is comfortable. As online shopping gained more traction, the industry shifted to different ways of commerce, such as social or live commerce, to continue to keep consumers on the hook.