Over US$25 billion in gross merchandise volume was settled within 24 hours through Alibaba’s online retail marketplaces in the “Ali-double-11” global e-shopping festival on Nov. 11, 2017. Another leading e-commerce platform, JD.COM, reported $19 billion in online orders on the same day.
Asia has been benefiting more than any other region since cross-border e-commerce introduced new dynamics to international trade. Global e-commerce retail sales has been growing faster than traditional retail sales since 2014.
Many Asian markets will see double-digit e-commerce growth in the next five to 10 years.
India, Indonesia and Malaysia are among the fastest-growing e-commerce retail markets at a rate of over 20 percent per year, while China’s e-commerce is growing at an annual rate of around 17 percent.
From 2015 to 2021, the region’s total market revenue fr...