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Shoppers in China (36.3%), India (30.1%), and the UAE (24.9%) are most likely to start their product search on a marketplace. More consumers are shopping on social. Some 30.9% of consumers worldwide made a purchase on a social media platform in the past 12 months, per the report. Meta is the top platform for social commerce.

India and a range of smaller countries will deliver the fastest ecommerce growth. Most major economic regions and countries will produce middle-of-the-road results. Double-digit growth is becoming a rarity. India and Central and Eastern Europe will be the highlights among major markets in 2024, with both outperforming across total retail and ecommerce.

Chinese ecommerce players face significant obstacles in markets like Indonesia and India because of trade protection policies and geopolitical tensions. Local regulations have hindered Temu鈥檚 attempts to enter the Indonesian market, and India has banned many Chinese platforms. Chinese ecommerce players are gaining significance in other markets in Asia-Pacific.

Ecommerce sales in India, which is soon expected to become the most populous nation, are growing at one of the fastest rates in the world. But brick-and-mortar will still dominate the retail sector for the foreseeable future鈥攚e estimate that online sales will account for only 10.0% of total retail by 2027.

The market is growing in India and Southeast Asia. The populations of India and Southeast Asia are growing and are proportionally younger than those of their neighbors to the east. India and Thailand have the fastest-growing pet care markets (including food and products) in Asia-Pacific, with CAGRs of 9.4% and 8.7%, respectively, between 2024 and 2029, per Euromonitor.

"There are 19,000 zip codes in India. There are 5,764 municipalities in Brazil. I want one influencer in each of them,鈥� said CEO Fernando Fernandez. This underscores the growing power of creators, especially among Gen Z. "Our own research shows that social media is Gen Z's favorite place to discover new brands and products," said analyst Rachel Wolff.

The fintech is focused on expanding in foreign markets like India and improving products at home with higher-rate savings accounts.

鈥淭here are 19,000 zip codes in India. There are 5,764 municipalities in Brazil. I want one influencer in each of them,鈥� Fernandez said. Zooming out: The move is part of a broader trend of companies investing in sponsored content on social media.

Growth of total media ad spend in Southeast Asia will remain elevated from its pre-pandemic levels, but digital ad spending will finally say farewell to double-digit growth this year. Meanwhile, India will top the worldwide ranking in both total media and digital ad spending growth.

We expect retail sales in India to grow 11% this year: That鈥檚 enough to make it the fastest-growing market in the world, which is one reason Amazon is investing in the region.

Plenty of countries in Asia Pacific, notably India. Even I think in Brazil where Netflix has a very large subscriber base, there's still quite a bit of opportunity for growth.

Shein is returning to India nearly five years after it and other Chinese retailers were banned for national security concerns. While there are more Facebook users in India than in all of North America or Latin America, providing ample consumers to market to, India鈥檚 economic pressures mean that much of the country鈥檚 population doesn鈥檛 have the funds for discretionary spending.

Amid global economic gloom, Asia-Pacific remains a region of digital opportunities in 2023, highlighted by the increasing momentum of the metaverse in China, surging retail sales in India, and burgeoning livestream commerce in Indonesia.