Smartphones, tablets driving retail growth in Asia

May 30, 2014
People queue outside a telecom store in Singapore on October 27, 2011 to be the first to own the new iPhone 4s at midnight

Smartphones and tablet computers are expected to boost online retail sales in the Asia-Pacific region to more than $400 billion a year by 2018, a report said Friday.

As a result, retailers are increasingly adapting their websites to capitalise on the trend and allow customers to browse and purchase goods with mobile devices, global consumer research firm Euromonitor said.

Euromonitor data showed that the number of smartphones in the Asia Pacific is forecast to rise to nearly 700 million in 2017, up from almost 390 million in 2013.

The number of tablets and other is also expected to increase to over 56 million in 2017 from almost 30 million in 2013.

At constant 2013 prices and fixed foreign exchange rates, the value of goods sold through the Internet in the region should reach more than $428 billion in 2018, more than double the $186 billion in 2013, Euromonitor added.

Internet are expected to account for 7.3 percent of the overall retail industry in the region in 2018, up from 4.1 percent in 2013.

Loo Wee Teck, head of consumer electronics at Euromonitor, cited a survey by the firm showing that nearly a quarter of respondents in the region are now using mobile phones to buy products.

"Retailers are acutely aware of this trend and most have optimised their websites for mobile browsing. The ease of online purchases and the ability to shop 24/7 are key factors in driving Internet retailing on mobile devices," he told AFP.

He said retailers in emerging markets like China, Malaysia and Thailand also accept cash-on-delivery for products purchased on the Internet through in order to ease consumers' suspicions about online fraud.

Explore further: Mobile driving up US online retail sales, study finds

add to favorites email to friend print save as pdf

Related Stories

Tablet sales losing steam, survey shows

May 29, 2014

Global sales of tablet computers are likely to slow this year, hurt in part by saturation and adoption of large-screen smartphones or "phablets," a market tracker said Thursday.

China's Xiaomi leads Asia's low-cost smartphone drive

May 11, 2014

Xiaomi may be little known outside China, but the fast-growing smartphone maker is at the forefront of a new wave of Asian brands challenging the dominance of Apple and Samsung with high-spec, low-price phones.

Recommended for you

Nokia profits rise after sale of handset division

6 hours ago

(AP)—Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset ...

Swiss drug maker Roche posts 7 percent profit drop

9 hours ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

20 hours ago

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook 2Q earnings, revenue soar (Update)

20 hours ago

(AP)—Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

User comments : 0