Asia is fast on its way to becoming the largest e-commerce market in the world. Internet penetration is growing by leaps and bounds, and the region’s youth population increasingly prefers to interact with companies and retailers over the internet rather than with more traditional forms of physical shopping and communication. Alongside these developments, Asia’s fast-growing middle class has fostered the evolution of a strong online consumer culture that cannot be ignored by companies seeking long-term success in the region.
A keen understanding of the trends and developments currently shaping Asia’s e-commerce landscape is key to fostering a successful growth strategy in Asia for almost any type of business. Increasingly, interacting with a company’s online presence is the first contact prospective clients and customers have with an organization, and can be a critical determinant of that relationship’s ultimate success.
For companies not yet prepared to establish physical operations in developing markets across Asia, establishing a local headquarters and online presence in either Singapore or Hong Kong can serve as an effective gateway to the wider region.
Singapore in particular is an increasingly popular destination for companies seeking to test the waters in key markets and lay foundations for Asia-wide e-commerce operations. The city-state’s business-friendly tax regime, straightforward legal system, and minimal requirements for company establishment make Singapore an effective base for establishing an online presence and conducting e-commerce operations across Asia.