The Asia-Pacific retail ecommerce sector is both dynamic and volatile. While China and Japan are slowing, South Korea is growing rapidly, and emerging markets like Southeast Asia and India are showing robust growth and untapped potential.
Key stat: 56% of internet users in China have used generative AI (genAI) compared with 46.3% of internet users in the US, according to February 2024 data from the Ministry of Internal Affairs and Communications (MIC) - Japan.
Retailers with ties to China, like Temu and TikTok Shop, have gained popularity in the US. Now, a wave of Japanese-based retailers and retail concepts has come to the US, signaling a potential shift for the retail landscape.