Breaking down Bazista priority markets.
Hello again!
Today we are going to talk about the target markets for Bazista platform. As we’ve mentioned before Bazista is a global platform, but of course we have priority markets, which we will focus on during the 1st operational year. Today I’d like all of us to look at the markets of the Sothern Asia, which is definitely a focus region for our platform.
First all, why did we select the region as our top priority market during launch? Well I guess it’s easier to show some statistic facts to justify our strategy, as the figures below will speak for themselves:
- Asia-Pacific (APAC) is said to be the next major boom market for e-commerce, as it accounts for 40$ of global e-commerce sales during Q1 of 2017. Key growth contributors are: China, Japan, South Korea, Australia and India
- ASEAN (Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Laos, Myanmar, Vietnam) is another growth center and is said to reach 400 million e-shoppers in 2020, showing more than 2 times increase since 2012. E-commerce growth potential in the region is driven by the positive dynamics of mobile Internet penetration with over 130 million people owing a smartphone. The total number of Internet users in the region is around 200 million. Further penetration of mobile usage will entail an estimated growth to 600 million users by 2025
- According to Google research the total capitalization of the e-com market within the region will be around $88 billion dollars by 2025
- According to eMarketer analytics report e-commerce sales will make up to 25.4% of total sales in Asia-Pacific by 2021
You can tell that the ecom growth dynamics in the region cannot be compared to any other part of the world. I believe that now our choice for launch seems more obvious, but let’s look at another key parameter — penetration of cryptocurrency usage in the region. So let’s take a look at the map below:
At the first glance is seems that an average Bitcoin penetration level in the region is way behind the levels across Europe and USA, but we should note that total population of countries in Asia is way bigger than in western countries, which presents higher potential in terms of growth dynamics.
Besides that, we know that so called millennials group is being responsible for both e-commerce and cryptocurrency usage across the world. Bazista will focus on the 25–34 age group as our target audience, but we’re also looking at younger generations (gen Z’s), which will pretty soon launch a bigger revolution in e-commerce than previous generation.
Stay tuned and watch out for my next posts as we will analyze more markets and demographic groups, which Bazista is focusing on!
