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In this report, we explore the world’s top region for retail and ecommerce, Asia-Pacific. Read on for a closer look at the markets in China, India, the Philippines, and more.

The retail outlook for 2025 is worse than previously anticipated. However, many smaller emerging markets are still in line for strong years, and ecommerce continues to claw share from traditional retail.

Search giant and AI leader Baidu is working on reimagining its services with genAI, from search and document creation to digital avatars for livestream shopping. Currently, Baidu’s AI chatbot Ernie generates 18% of the company’s search results. India’s genAI sector is also gaining momentum.

Amid escalating geopolitical tensions and regulatory scrutiny in the US and Western Europe, Chinese ecommerce giants are increasingly turning their focus to Asia-Pacific.

Our expanded retail and ecommerce forecast coverage now includes country-level breakouts for 66 nations around the world. North America, China, and Western Europe continue to drive global outcomes, but a total of 53 countries will have at least $1 billion in ecommerce sales.

It’s now disrupting social commerce with TikTok Shop, which is especially evident in Southeast Asia. TikTok has had a tumultuous global ascent. The social platform has been banned in India since mid-2020 and now faces an uncertain future in the US. This year, for the first time, its worldwide user growth rate will fall to single digits, per our forecast.

Sustainability awareness is high in Asia-Pacific, where the majority of consumers are open to spending more on eco-friendly products. How can brands and retailers capitalize on the green opportunity—while also doing good for the environment?

Asia-Pacific remained a global hotspot in 2023, with six of the top 10 fastest-growing retail ecommerce markets worldwide. In particular, China's online shopping market showed signs of resiliency, with growth rates in the double digits.

Retail ecommerce sales growth in Southeast Asia, which has been blazing ahead in recent years, is set for a slowdown as the global economy faces challenges and tech funding shrinks. This year, the Philippines and Malaysia will lead the region in growth.

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.