East Asia makes up over 80% of Asia’s retail sales: report

This was in part driven by the e-commerce boom in the region.

East Asia accounted for more than 80% of the retail sales in Asia with the e-commerce boom evident in companies, such as Alibaba, JD.com, and Pinduoduo, Euromonitor International reported. 

In the recent Top 100 Retailers in Asia 2022 report, the Alibaba Group Holding ranked as the top retailer in East Asia with a total sale of $470.8b. It is followed by JD.com Inc, and Pinduoduo with $368.2b and $111.81b, respectively. 

Also amongst the top retailers in the region are AEON Group ($81b), Seven & I Holdings Co. Ltd. ($66.47), Shinsegae Co. Ltd. ($48.91b), Amazon.com Inc ($40.63), Suning.com Co. Ltd. ($39.71), Rakuten Group Inc ($33.6), and Coupang LLC ($31.13b). 

READ MORE: Alibaba Group retains post as Asia’s top retailer in 2021

The retail sector in the region also saw an “explosive online shopping growth, which according to Euromonitor created tension between convenience and carbon footprints. 

“Retailers are under scrutiny to make products, packaging and deliveries more sustainable,” the report read in part.

“Consumer trust, loyalty and motivation to shop online will depend more on the ability of companies to shift towards an eco-friendly business model.”