Although Asia already accounts for 40.4% of the global e-commerce market in 2019, its share will only get bigger. Robust logistics networks, a rising middle class, improving financial infrastructure and rapid innovation will fuel Asia’s e-commerce revenues, which will in turn drive GDP growth, productivity and economic inclusion in the region.
The world has seen exceptional growth in e-commerce transactions in recent years. Specifically the Asia, with its growing middle class and increasing internet penetration, is at the forefront of global e-commerce dynamism. The region accounted for 57.4% of global e-commerce sales (business-to-consumer) in 2019. According to Statista1, Asia’s e-commerce revenues are predicted to grow by 22.4% to USD1.36 trillion in 2020 and reach USD 1.92 trillion by 2024. By then, Indonesia economy will account for 10.4% of the global e-commerce market.
While China is a market leader in terms of size, the e-commerce markets in India and Indonesia the world’s second and fourth most populous countries, respectively – are expected to enjoy double-digit growth rates in the coming years.
This is because businesses that engage in e-commerce tend to require a more knowledgeable and innovative workforce. This in turn lifts productivity and profitability. Research puts this in perspective by showing that participation in e-commerce lifts global total factor productivity by 14%. The impact is even greater in Asia.
Now growth is erupting across other parts of Asia, driven by a whole new e-commerce business model. It is the dropshipping model, which allows ecommerce businesses to outsource procuring, storing, and shipping products to a third party—typically a supplier. This concept is entirely new, but right now Asia businesses are seeing incredible results using these models. This makes it likely you’ll soon see these approaches permeating the West.
DROPSHIPPING
In a dropshipping business model, you promote products and provide an online storefront. When a customer places an order, you send the order to the dropshipper and inform customers the products are on the way. The rest of the physical fulfillment process is out of your hands. In some dropshipping agreements, you may also handle customer service, while the dropshipping service manages the physical goods and fulfilment.
TOKO99
TOKO99 is an online retailer that operates globally, it provides a 1 stop entrepreneurial solution for merchants.
TOKO99 sets the standard for online shopping through its commitment to quality, authenticity, and its vast product offering covering everything from daily necessities and apparel to electronics and cosmetics. Its unrivaled global fulfillment network provides speedy delivery covering a population of more than 1 billion – a level of service and speed that is unmatched globally.
Customers globally recognize that the Toko99 brand guarantees quality. TOKO99 takes a strict zero-tolerance approach to counterfeits to ensure that only the highest quality, genuine products reach TOKO99 customers. The company combines its business model of direct sales, where it controls the entire supply chain, with a marketplace that limits the number of sellers, to ensure that it can maintain strict quality oversight. This is combined with a variety of monitoring methods that identifies any suspicious products or sellers.
TOKO99 provides entrepreneurial services to merchants on the platform through its home-developed supply chain system, helping more companies to develop international markets, build brands and upgrade their industries; and helping more people with dreams to achieve entrepreneurship and employment through the Internet. Toko99 is riding the new business trend and is on the mission to create 10 million jobs.
TOKO99 is not only a popular global e-commerce platform, but also a global community of consumers and a global hub for creative merchandise. TOKO99 is the partner of choice for local and global brands looking to reach consumers online, and offers a full suite of services to help companies reach consumers, including marketing, consumer targeting and big data-driven analytics, logistics and warehousing, and financing.
As a technology-driven company, Toko99 builds reliable and scalable platforms that bring value to partners and customers in sectors such as e-commerce, logistics, internet finance, cloud computing and smart technology.
The company was founded in 2018 in Singapore.
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