Thailand-based ecommerce firm N-Squared to expand into Vietnam, Indonesia

  • “The company said it generated 735 million baht (or about US$24 million) in revenue, with a compound annual growth rate of 246% since 2015.
  • Earlier this year, the company also began developing an AI-powered chatbot solution to capitalize on the rising trend of social commerce, according to a statement.”

Understanding Asia’s fast-moving digital ecosystem

  • “According to research firm Kantar TNS, 77 percent of connected consumers in APAC at the time of survey (2017) made their most recent purchase on a mobile, compared with 61 percent globally and 24 percent in Europe.
  • Asia also leads the world in online payments, according to KPMG, with an average 22.1 transactions per person annually. This compares with 19 transactions per year for the average North American.
  • For example, Go-Jek, Line, or WeChat—digital platforms that aggregate a number of different services into one—help companies and partners better reach and serve consumers. However, in doing so, they also introduce an element of risk; these large platforms can hold disproportionate amounts of power and control across the internet.
  • Across Southeast Asia, more than 40 percent of the population still lacks regular access to the internet.”