Web-influenced offline retail sales set to soar in Asia-Pacific
The digital shopping revolution has led not only to billions of digital transactions, but also drives significant shares of offline commerce, according to a report by Forrester Research.
The research group predicts web-influenced offline sales in Asia-Pacific (APAC) will grow even faster than purely digital sales as a share of the overall marketplace. By 2020, nearly 30% of retail sales in Asia-Pacific will be made offline, but inspired by online activity, said the firm.
In 2015, 13% of retail sales were digital, but one in five were offline, web-influenced sales. By 2020, about 20% of sales will be digital, compared to a 30% share for offline web-influenced sales, the authors noted.
While more purchases are being driven by online connections and the popularity of browsing on the internet, brick-and-mortar stores are gaining importance in the final stages of a sale, they said.
In addition to an increase in market share for web-influenced offline sales, revenue is also projected to grow. Forrester Research reported that revenues came to $1.2 trillion in Asia-Pacific in 2015, a figure that is set to rise to $2.1 trillion in 2020.
According market research firm eMarketer, e-commerce sales in 2016 currently make up 12.1% of total retail sales in Asia-Pacific region, compared to just above 8% in Western Europe and North America.
China holds the largest share of the market in APAC, where 18.4% of retail sales this year have come via digital channels. South Korea sit in second place for market share, followed by New Zealand.
Copyright © 2022 FashionNetwork.com All rights reserved.