The Association of Southeast Asian Nations (ASEAN) has launched a website for the holding of the inaugural ASEAN Online Sale Day (AOSD) on ASEAN Day, August 8, 2020.
In a joint statement, ASEAN member nations said the inaugural ASEAN Online Sale Day is the first time an online shopping event will be conducted collectively on a region-wide scale.
Last July 15, the ASEAN Coordinating Committee on E-commerce (ACCEC) officially launched the AOSD website, which will feature participating businesses in the campaign.
Nearly 150 e-commerce businesses in ASEAN are expected to participate and offer a large range of goods and services at promotional or discounted rates through their e-commerce platforms on AOSD, said the statement.
This year, six member countries will participate in this activity: Brunei Darussalam, Indonesia, Malaysia, Singapore, Thailand and Vietnam.
ASEAN’s e-commerce sector is expected to triple in size from US$100 billion to $300 billion in 2025, according to the Google, Temasek and Bain & Company’s E-Conomy SEA 2019 Report.
“Amidst the COVID-19 pandemic, e-commerce has been a bright spot of growth as consumers and businesses increasingly turn online. The inaugural AOSD seeks to further boost these trends and encourage consumers and businesses to actively interact and conduct commercial transactions on reputable and secured e-marketplaces or platforms operating across the region,” said the statement.
The AOSD will also support ongoing efforts by ASEAN member states to facilitate trade and e-commerce, deepen digital integration and instill trust and confidence in ASEAN business, including micro, small and medium-sized enterprises (MSMEs), which remain dynamic, resilient and open for business amidst COVID-19.
Digitalization and digital integration is becoming increasingly important for sustainable economic recovery and development in ASEAN. According a study by Bain & Company in 2017, the size of ASEAN’s digital economy is expected to reach 8.5% of GDP in 2025, up from 1.3% in 2015.
During the COVID-19 pandemic, digital transformation shifted gear to an accelerated pace. Working from home, distant learning, video conferencing, e-banking, e-health and e-commerce are profoundly transforming our everyday lives, many of which have become part of the new normal during the pandemic.
“ASEAN is well-positioned to adapt to and leverage digital transformation as a driver of growth through its growing ecosystem comprising more than 300 million mobile and broadband users in the region,” the statement said.
The AOSD will be held on August 8 each year to boost regional digital trade and promote cross-border e-commerce activities in ASEAN.