Conversational commerce surging across Southeast Asia
Social commerce will contribute $42bn to Southeast Asia’s e-commerce market this year as conversational commerce booms across the region.
Social commerce is driving growth across SouthEast Asia
The findings from the inaugural Social Commerce in Southeast Asia 2022 report by market intelligence firm Cube Asia reveals social experiences are influencing a huge proportion of e-commerce across the region.
While e-commerce on social platforms remains the largest contribution to social commerce sales, conversational commerce, where consumers select a product and pay directly on a messaging app, is experiencing significant growth.
Conversational commerce is expected to contribute $12bn to the e-commerce market by the end of the year. Nearly half (45%) of internet users in Singapore are currently shopping on messaging apps, with Whats App and Facebook Messenger the most popular platforms.
Live shopping experiences are also on the rise, with 44% of internet users in the region participating in live shopping during the last 12 months. The trend is being led by Vietnam and Thailand, where 60% of respondents have purchased products during live shopping events.