Foreign companies could be part of the growth story as e-commerce in Cambodia is likely to record a compound annual growth rate of 13.51% over the five years (to 2027).
According to a study by statista.com, Cambodia’s e-commerce market is expected to exceed $2.1 billion by 2027, making it an interesting proposition for foreign companies.
Chinese tech company Lanton Cloud Service Technology Co Ltd plans to facilitate e-commerce activities in Cambodia through the Lanton app. The company has reportedly offered to promote Cambodian products in China and other global markets, and sought government assistance to do so.
A Chinese delegation, reportedly led by the chairman of the board of Lanton Cloud Service Technology Li Kun, reportedly made the proposal during a recent courtesy visit to the office of Minister of Commerce Pan Sorasak.
The Minister underscored its commitment to supporting the private sector for economic growth and called on the Chinese team to work with Secretary of State of the Ministry of Commerce Sok Sopeek to advance that objective.
Several foreign companies have offered to commission Cambodian e-commerce firms to build from scratch. They suggest working with websites, improving payment methods, providing digital marketing and search engine optimization (SEO) services, efficient shipping, and more.
SEO is the process of improving the quality and quantity of traffic from search engines to your website or webpage, and is targeted at unpaid traffic as opposed to direct or paid traffic.
“The e-commerce sector is growing and will continue to expand in Cambodia in the coming years,” said Penn Sovicheat, undersecretary of state and Ministry of Commerce spokesman. Khmer Times.
With a population of over 16.7 million, Cambodia is an emerging consumer market with a significant proportion of young people and a rapidly expanding e-commerce sector.
Over the next five years, Cambodia’s e-commerce market is expected to have over 8.8 million users, according to statista.com, with user penetration increasing from 40.1% in 2023 to 48.1% in 2027 There is a possibility. At the same time, he added that average revenue per user is likely to increase to $181.50 by 2027.
According to the iTrade Bulletin of the Ministry of Commerce, the market value of e-commerce in Cambodia will reach $1.11 billion in 2022, about $1.28 billion in 2023, about $1.5 billion in 2024, and $1.78 billion in 2025. estimated at $1 million.
According to the iTrade Bulletin, by mid-2022, about 55% of purchase orders on e-commerce sites were made via desktop PCs, and more than 45% via tablets or smartphones.
The Cambodian government sees e-commerce as a potential sector to help the economy recover after the pandemic, said a commerce ministry official.
To facilitate cross-border trade and increase local business activity for small and medium enterprises, the government has taken several policy measures to support e-commerce like other businesses, he added. rice field.
The government enacted the e-commerce and consumer protection law in 2019, announced the e-commerce strategy in 2020, and adopted the competition law in 2021.
According to market and media reports, Cambodia’s top e-commerce portals include Glad Market, Tenbox, DigitalRain, Mall855 Camboticket, MAIO Mall, RoseRb.com, Aliexpress, TaoBao, MyPhsar, BookMeBus, Nika, ECamShopping, etc. .
- tag: E-commerce, Lanton Cloud Service Technology Co Ltd
