The logistics and delivery services sector in ASEAN is booming as an indirect result of the ongoing COVID-19 pandemic. The lucrative sector has now attracted players from China like Best Inc. The integrated smart supply chain and logistics solutions provider based in Hangzhou, China, has announced that it has started express delivery services in Malaysia, Cambodia and Singapore following its entry into the Thai and Vietnamese markets last year.
It is no secret that the COVID-19 pandemic has accelerated the adoption of a digital culture worldwide. Governments have imposed lockdowns and movement controls as preventive measures against the deadly outbreak. Urged to stay home and practice social distancing – people are now working from home, buying groceries online and using digital wallets. It seems like almost everyone has become a digital native. ASEAN member states are no exception.
ASEAN citizens are not unfamiliar with digital payments.In a survey by Visa, around 64 percent of consumers in Southeast Asia are confident of going cashless for a full day, highlighting the region’s strong drive towards digital payments.
It was reported recently that the ASEAN +3 Macroeconomic Research Office (AMRO) had given Myanmar’s economy a positive outlook for the fiscal year of 2019 to 2020, expecting it to expand by 7.1 percent up from 6.8 percent in the previous fiscal year.
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
Lockdowns and restricted movement control implemented by countries around the world due to the COVID-19 pandemic has seen people go berserk at hypermarkets, hoarding food supplies. As people are urged to self-isolate and stay home, there has been a surge of demand in food delivery services in Southeast Asia.
The COVID-19 pandemic has caused nations across the world to be under lockdown over virus fears. Governments have implemented drastic measures to contain the coronavirus from spreading further. It was reported that over four billion people are currently under lockdown across the globe.
While shopping online isn’t something new, the current health crisis brought about by the COVID-19 pandemic has changed the way people are now purchasing their necessities. The coronavirus pandemic, which first emerged late last year in the city of Wuhan in China, has infected more than one million people worldwide. Numerous countries have imposed drastic measures to contain the virus. These strategies include citywide lockdowns and travel curbs.
The retail industry has undergone multiple transformations during the past century, with those who adapt and innovate continuing to survive. It also helps if one is exceptionally unique. It seems that the world's consumers have gotten a little tired from having to explore multiple shopping locations to find what they want or need.
The ASEAN Post recently published an article on whether 2020 will be a good year for Myanmar’s economy. That article noted that the ASEAN +3 Macroeconomic Research Office (AMRO) had given Myanmar’s economy a positive outlook for the fiscal year of 2019 to 2020; expecting it to expand by 7.1 percent up from 6.8 percent in the previous fiscal year.
Indonesia is one of the region’s best success stories. Despite having faced economic turmoil in the 1997 Asian Financial Crisis under the authoritarian Suharto regime, Indonesia is today one of the fastest growing economies in the world.