Online spending is projected to decrease by 11% to US$218 billion, a significant drop from last year’s 20%.
Global giants Amazon and Alibaba, along with regional players Grab, Sea, and GoTo, battle for market shares in online retail, food delivery, and ride-hailing.
The biggest category, e-commerce, is set to reach only US$186 billion in 2025, rather than the US$211 billion the researchers estimated previously. The region’s entire internet economy is now on track to reach US$295 billion by 2025, according to the report, down from a previous forecast of US$330 billion.
The top 30% high-value users account for more than 70% of digital economy transaction values, the report said, signalling internet companies are struggling to attract potential customers in more remote regions.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 of the scariest haunted spots in Southeast AsiaWith Halloween in full swing, here are some ghostly stories about supernatural hotspots throughout Southeast Asia.
Read more »
AIT Worldwide adds Penang to expand Southeast Asia footprintThe Penang logistics facility enables shippers to diversify sourcing options, reducing supply chain risk, says AIT Worldwide.
Read more »
EasyEat partners Boost to drive digital transformation for Southeast Asia’s F&B sectorPETALING JAYA: Technology-driven food service platform, Easy Eat AI Sdn Bhd, has partnered with fintech company Boost, to introduce digital solutions ...
Read more »
Southeast Asia’s charge to electric vehiclesNews and views that matter. Malaysiakini is an online news portal published in Malay, English, Chinese and Tamil. Malaysiakini receives over millions of page-views per day and is one of the most trusted news brand in Malaysia.
Read more »
Video showing Grab rider flying to S’pore to buy chicken rice for Thai customer is fictional: GrabKUALA LUMPUR: A shouting match erupted in the Dewan Rakyat after Datuk Seri Shahidan Kassim accused a Pakatan Harapan MP of supporting Israel.
Read more »
Grab denies cross-country services, viral Thai rider travelling to Singapore for chicken rice fake (VIDEO)KUALA LUMPUR, Nov 1 — If you're thinking of ordering food from overseas after seeing a food delivery rider in Thailand flying to Singapore to buy chicken rice, hold the...
Read more »