Eileen Yu
for By The Way
| November 10, 2021
| Topic: E-Commerce
One in three digital merchants across six Southeast Asian markets believe they would not have survived the global pandemic if not for online platforms. However, they point to the need to lower transaction fees, noting that costly digital platforms are the top barrier to adoption.
Amidst the severity of COVID-19 restrictions in their local markets, 35% of digital merchants in the region said their business would not have stayed afloat if they were not able to sell online, according to the latest edition of the e-Conomy Southeast Asia report. Jointly released Wednesday by Google, Temasek, and Bain & Company, the annual study for the first time included 3,036 digital merchants in the survey that covered Singapore, Malaysia, Vietnam, Indonesia, Thailand, and the Philippines.
The report defined digital merchants as small business-to-consumer businesses, with fewer than 100 employees, that operated digital tools with some proficiency and had online sales over the past year. These merchants typically were in food and beverages, consumer services, traditional retail, and e-commerce retail sectors.
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