Strategic partnerships offer an often untapped yet effective route to capitalising on Asia’s growing e-commerce opportunity.
The race to stake a claim in Asia Pacific’s e-commerce boom is on. Based on growth forecasts, this is no surprise. The region’s e-commerce market size is estimated to hit US$4.2 trillion in 2024, and then to reach US$6.76 trillion by 2029, reflecting a compounded annual growth rate of 10% during that time.1
For companies looking to benefit from this surge in consumer demand, creating a commercially viable e-commerce strategy is easier said than done. Partnerships play an increasingly important role as a route to success. “Partnerships can elevate e-commerce businesses across sales, marketing, customer acquisition and retention, especially if businesses use technology and data to support them” explained Terence Yong, Group Head of Sales, Global Transaction Services at DBS.
More specifically, he explained, management should look to leverage existing relationships with financial and …