ASEAN member states are currently promoting cross-border e-commerce connectivity in the region, contributing to the implementation of the ASEAN Agreement on e-commerce, and increasing the country’s chances of post-pandemic economic recovery.
According to Visa research on consumer payment attitudes in 2021, the year the Covid-19 pandemic has a major impact, 85% of consumers across Southeast Asia are using digital payment methods such as payment. by card, contactless card payment, mobile payment, e-wallet and QR code payment.
Visa Southeast Asia director Tareq Muhmood said that in the past year due to the impact of the pandemic, the adoption of digital transactions has increased significantly. The lifestyles of people in Southeast Asia are changing, powered by innovative payment experiences as e-commerce grows, business owners digitize their businesses to adapt. with the trend of non-cash payment.
According to the same study, nearly two-thirds of consumers in Southeast Asia (64%) have experienced going cashless, especially consumers in Vietnam (84%), Thailand (82%), Philippines (79%) and Indonesia. (68%).
According to figures from the Philippine Department of Commerce and Industry, 86% of business leaders in the Philippines believe they need to be a digital business to succeed.
During the pandemic, from 1,700 businesses registering their businesses online in the first quarter of 2020, this number increased 50-fold with about 88,000 businesses at the end of the year.
Exploiting opportunities from the e-commerce sector is creating a ‘new normal’ for commerce that has been affected by the Covid-19 pandemic, while creating more jobs for Filipinos.
Meanwhile, Indonesia, which has a relatively advanced e-commerce system compared to other countries in the region, is also taking full advantage of the cross-border market.
According to research by Google, Temasek and Bain & Company, in 2020, Indonesia’s e-commerce transaction value is the highest in Southeast Asia, reaching 32 billion USD.
According to Bank Indonesia data, the country’s e-commerce transactions in the first quarter of 2021 increased by 63.36% year-on-year. Indonesia has built the ‘Indonesia Digital Roadmap 2021-2024’ with four pillars, namely building digital infrastructure, enhancing digital governance, digital socialization and platform digital economy.
Last year, during the outbreak of the Covid-19 pandemic, Singapore launched a new ‘E-Commerce Booster Package’ to assist small and medium-sized retailers with little or no e-commerce experience in moving change number.
In that context, in 2020, Vietnam, the ASEAN Chair, proposed organizing the ASEAN Online Shopping Day with the aim of encouraging and promoting e-commerce and cross-border e-commerce in the region. in the ASEAN region, contributing to the implementation of the ASEAN Agreement on e-commerce; bringing a safe, healthy and practical online shopping environment for consumers when participating in shopping on e-commerce.
In particular, in the complicated context of the Covid-19 pandemic, the program is an important step for ASEAN to show solidarity and economic recovery after the pandemic, bringing great opportunities for businesses and people. consumption.
This year’s event, organized by Brunei Darussalam, the ASEAN Chair Country 2021 in collaboration with Singapore and Vietnam, sent a strong message that the business world in ASEAN is ready to return to business between the two countries. COVID-19 pandemic, and opens up opportunities for cross-border e-commerce cooperation in the ASEAN region in the future.