Thailand
Cambodia: E-commerce market value rises 19% to $970 million
The market value of e-commerce in Cambodia surged 19 percent to $970 million in 2021 compared to a year earlier, according to the iTrade Bulletin of the Ministry of Commerce.
The amount is expected to increase nearly twofold by 2025.
According to the estimates of the Ministry of Commerce, the Kingdom’s e-commerce market value will increase to $1.7 billion in value by 2025.
The e-commerce revenue was mainly from fashion ($263 million), electronics ($254 million), and beauty, health and household care ($230 million).
Other sectors are food ($57.19 million), beverages ($44.29 million), furniture ($46.29 million), toys and hobbies ($62.94 million), and media ($11.19 million).
Around 54.9 percent of e-commerce transactions were conducted via the internet on a desktop PC, while the rest on tablets or smartphones, the report pointed out.
In order to promote the growth of e-commerce and gain more confidence from national and international investors, the Royal Government of Cambodia has established a law on e-commerce in 2020.
The E-Commerce Law serves as an important legal basis for the development of e-commerce, especially to protect the interests and establish high trust relationships with e-consumers, as well as to attract local and foreign investors to Cambodia.
Additionally, in order to strengthen the control of the online business, the online business owners registered with the ministry.
Cambodia has a rapidly changing payment landscape in 2021, according to Visa’s Consumer Payment Attitudes 2021 study, released on June 29.
E-wallets and cards are predominant in the market. They are used by around four out of ten Cambodians today and 14 percent of the population have both e-wallets and cards. QR payment and card swipe/insert outpaced other cashless categories both in annual growth and market penetration, the report said.
“Cambodians are quickly taking to digital payments, relishing the convenience and security they bring,” said its country manager for Cambodia Chum Monika, citing that the firm is offering all stakeholders the solutions and the insights to find their footing in Cambodia’s budding digital economy.
Source: https://www.khmertimeskh.com/501105754/e-commerce-market-value-rises-19-to-970-million/