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The e-commerceindustry is one of the largest markets in the world. The industry hasexperienced a dramatic increase over the past couple of years, and thepandemic pushed it to an all-time high.
Global retaile-commerce sales reached an all-time high of 16.4% in 2021 ascountries were on lockdown and stores were forced to close theirdoors, according to data from McKinsey & Co. Sales in retaile-commerce in 2021 were around $4.9 trillion in 2021, and this figureis projected to increase by 50% over the next five years to reachapproximately $7.4 trillion by 2025.
Leaders In TheSpace
According to an article by Inside Monkey, in 2021 the Chinesee-commerce giant Alibaba Group Holdings Ltd. (NYSE: BABA) wasfirst in terms of online retail sales as its subsidiaries Taobao.comand Tmall.com accounted for 15% and 14% of the global market,respectively. The Seattle-based e-commerce company Amazon.comInc. (NASDAQ: AMZN) came in second, taking 13% of global retailsales.
In terms ofmonthly traffic in 2022, Amazon ranks first, with a monthly trafficaverage of about 3.13 billion visitors, followed by eBay Inc. (NASDAQ: EBAY) with 596 million and Walmart Inc. (NYSE:WMT) with 571 million.
Regions Experiencing SignificantE-Commerce Growth
E-commerce growth in Southeast Asia standsout more than in any other region in the world. The region isexpected to experience a 20.6% expansion in 2022, with sales reaching$89.67 billion from $74.36 billion in 2021. E-commerce in the regionis expected to pass $100 billion by 2023.
Following Southeast Asia is Latin America,which is the only region to pass the 20% mark thisyear.
Insight Into Thailand’s E-Commerce Market
Thailand’s 18% growthin retail e-commerce sales in 2022 puts it on the top-ten list ofcountries that are expected to experience the largest increase inretail e-commerce sales growth. Several factors, including increasedinternet usage, improved logistics and e-payment systems as well asgovernment policies are some of the drivers fueling this growth.
At 79.5%, Thailand’s internetpenetration is one of the highest in the world. As of 2020,the number of internetusers in the country was around 54 million, and the figure isexpected to reach 60 million by 2026.
The Thai government’s policy, Thailand 4.0,included allocating a budget for the construction of a broadbandnetwork across all villages in the country. This plan is expected toincrease internet penetration in the country even more and promotemodern economic development through e-commerce.
The government alsoplans to create digital application platforms with the goal ofpromoting online activities such as e-marketplaces, e-payments ande-government.
SoPa Enters Thailand’s E-CommerceMarket
Society Pass Inc. (NASDAQ: SOPA), an acquisition-focusede-commerce holding company, believes it is growing by leaps and boundsto become one of the giants of e-commerce in Southeast Asia. Thecompany has already set up shop in Vietnam, Indonesia, the Philippinesand Singapore and now looks to expand its digital ecosystem in theregion with its latest acquisition of the Thai company ThoughtfulMedia Group.
Thoughtful Media is a social e-commerce business focused onmulti-platform networks operating in the U.S., Vietnam and thePhilippines. The company distributes digital advertising campaigns inthe U.S. and Southeast Asia through its platform. Advertisers takeadvantage of Thoughtful Media’s wide network of influencers to reachout to more people with their advertising campaigns.
SoPa believes thisacquisition will help the company bolster its e-commerce ecosystem andretail partners. SoPa reports having a large number of brands shiftingto Thoughtful Media’s platform because of the impact thatinfluencers have on consumers’ decisions.
SoPa intends to expandits presence by acquiring emerging technology companies acrossdifferent countries. In 2022, the company expects to spend more than$20 million in acquisitions.
Featured photo by Cottonbro on Pexels
Asa loyalty and data marketing ecosystem, Society Pass operates multiplee-commerce platforms across its key markets in SEA. Its business modelfocuses on analysing user data through the expected launch of itsSociety Pass loyalty platform and circulation of its universal loyaltypoints, which seamlessly connects consumers and merchants acrossmultiple product and service categories to foster organic loyalty.Since its inception, SoPa has amassed over 1.6 million registeredconsumers and over 5,500 registered merchants/brands on its platform.It has invested 2+ years building proprietary IT architecture withcutting edge components to effectively scale and support itsconsumers, merchants, and acquisitions.Society Pass provides merchantswith #HOTTAB Biz and #HOTTAB POS – a specialized POS technologysolution, a comprehensive system for payment, loyal customermanagement, user profile analytics, and convenient financial supportpackages for small and medium-sized enterprises.In addition, SoPaoperates Leflair.com , Vietnam’s leading lifestyle e-commerceplatform, Pushkart.ph , a popular grocery delivery company inPhilippines, Handycart.vn , a leading online restaurant deliveryservice based in Hanoi, Vietnam, and Gorilla Networks , aSingapore-based, blockchain/web3-enabled mobile virtual networkoperator.For more information, please check out:http://thesocietypass.com/ .
This post contains sponsoredadvertising content. This content is for informational purposes onlyand is not intended to be investing advice.
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