In recent years, the South-East Asian e-commerce scene has notably expanded. With ever-increasing investment and new startups popping up everywhere to cater to new and exciting markets, fast-paced change is clearly visible. One startup which has recognised and taken advantage of this opportunity is Gogoprint, an online printing company launched in Thailand in 2015. Since then, Gogoprint has expanded into Malaysia and Singapore and is looking to expand into additional markets in the near future.
Internet penetration in South East Asia is rising fast, with mobile phones and connectivity becoming more affordable and network coverage spreading to accommodate growing demand. Constant improvements to existing infrastructure also mean that the quality and speed of internet is improving, making online shopping a very attractive alternative. Until there is 100% internet penetration, e-commerce in Southeast Asia is therefore guaranteed to keep growing in the near future.
Foreign direct investment in the region is also on the rise, with political stability and favourable economic conditions creating a climate which fosters increasing business development. Increasingly, venture capitalists are funding new projects and companies to penetrate the Southeast Asian e-commerce scene. Business truly fosters more business. As new businesses appear, business services appear to cater to any needs new businesses might have. This has led to an interlinked web of businesses offering one-another competitive solutions. Gogoprint has benefitted from the development of such business services, with one example being the rise of delivery services. Delivery costs are a major part of an online printing company’s fixed costs, it is therefore important to have flexibility when selecting affordable delivery solutions. Market forces have delivered in this case, as demand for cheaper, more reliable and faster delivery solutions increased, this gap in the market was quickly filled in major cities. Many of these services will of course require time to expand beyond major metropolitan areas, however already the progress is impressive.
The growth of e-commerce globally indicates that consumer trust in internet-based services is clearly on the rise. This is also the case in South-East Asia, where a new generation of consumers is not shying away from lapping up the perks of lucrative online offers. Internet security and improved online payment services have greatly improved, making online shopping safer than ever before.
Development has opened markets which could not be accessed before, linking customers and businesses in a user-friendly way. It truly has become easier to run an e-commerce business in South-East Asia. If you have a solid business plan in mind, why not try it in South-East Asia now?
