Until a few years ago, major economies were struggling to achieve even mild inflation, with policymakers in the United States (US), the United Kingdom (UK), and the eurozone struggling to meet their targets of two percent annual price growth. But with the arrival and persistence of COVID-19, the world changed dramatically.
Based on a 2019 study by Facebook and Bain & Company, a global management consulting firm, digital consumers in ASEAN will be spending three times as much in 2025.The joint study found that while consumers in Southeast Asia spent US$125 on average on online purchases in 2018, that sum is expected to more than triple to US$390 in 2025.Highlighting increasing choices, better internet access and rising affluence as factors that will continue to drive more spending online, the report also
Assuming the coronavirus infection rate does tail off and life eventually carries on as normal, Southeast Asia is well placed to champion growth and get its economies back up and running. The driver for this is the purchasing habits of the ASEAN consumer and their love of social media and technology.If the Asia-Pacific region was never a cohesive entity before the pandemic, it will be even less so in the aftermath.
Digital consumers in ASEAN will be spending three times as much in 2025 according to a new study from Facebook and Bain & Company.The joint study by the social media giant and global management consultants released this week found that while consumers in Southeast Asia spent US$125 on average on online purchases in 2018, that sum is expected to more than triple to US$390 in 2025.Highlighting increasing choices, better internet access and rising affluence as factors that will continue
