Asia is all set to overtake North America as world's
largest e-commerce market this year, according to the Economist Intelligence
Unit (EIU).
EIU said it is estimated that retail sales in Asia
will grow by an average 4.6 per cent on a volume basis to USD 7.6 trillion,
compared with 2.5 per cent in North America and 0.8 per cent in Europe in 2015.
The EIU report is based on a survey of 5,500 women
across major cities on the Chinese mainland, Hong Kong, Taiwan and Macao, as
well as countries including India, Japan, Singapore and the Republic of Korea.
Asian consumer market was largely driven by the
rising independence and economic power of Asia's women, and female consumers in
Asia are showing an unprecedented enthusiasm for online shopping, the report
said.
The report comes in the backdrop of huge demand for
e-commerce generated in China by platforms like Alibaba which is picking up at
a rapid pace in India. The two countries together account for about three
billion people.
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