The FedEx survey focused on key markets across Asia
The latest e-commerce trends from research commissioned by FedEx Express, a subsidiary of FedEx Corp. in some of the most prominent markets in its Asia Pacific, Middle East, and Africa (AMEA) region shows that both small and medium sized enterprises (SMEs) and consumers agree that there’s room for further growth in the already booming e-commerce sector.
The ‘What’s Next in E-Commerce’ survey polled SMEs and consumers in 11 AMEA markets in July 2022 to explore the continuing evolution of e-commerce in the region and identify the trends that could fuel their future growth.
The survey reveals that consumers are looking for innovations in personalization, shoppertainment, and payment options that enhance their experience and at the same time, make it easier to discover new brands and make purchasing convenient.
“The pandemic has accelerated our lifestyles to a pivot point where shopping online has been normalized across all demographics. E-commerce is set to take a growing proportion of total consumer spend,” observed Kawal Preet, President, Asia Pacific, Middle East, and Africa (AMEA), FedEx Express.
E-commerce sector matures with further growth ahead
Asia Pacific which includes the world’s biggest e-commerce markets like India, Mainland China, Japan, and Korea, will witness revenue from e-commerce sales to reach US$ 2.09trillion this year, as 57% of the region’s population shops online.
In the Middle East and North Africa (MENA) region, e-commerce is catching up fast with these global powerhouses, where the sector is growing slightly ahead of the global average at 25% and is expected to reach a value of US$ 8bn by 2025.
With the rapid growth of the e-commerce sector within the MENA region, and Dubai being placed at the centre of trade relations between the East and the West, earlier this year, FedEx Express broke ground on a new regional air and ground hub near Al Maktoum International Airport (DWC) at Dubai South’s Logistics District, a press communique indicated.
With a completion earmarked for 2023, the new FedEx Express regional hub will support improved efficiencies across both its regional and global networks and expand the company’s commercial and operational footprint to support the growth of e-commerce and trade, a press statement concluded.