“Southeast Asian digital consumers has grown exponentially and their consumption habits are shaping today’s new norm,” Praneeth Yendamuri, partner at Bain, said in an interview.

The study found that Southeast Asia’s online spending now accounts for 5% of the total retail market, surpassing India’s 4% rate. Its e-commerce gross merchandise value grew 23% per year between 2018 and 2020, faster than China, India and the U.S. during the period, it also showed. Even as lockdown measures ease, the region’s total online retail spending is projected to reach $53 billion this year before tripling to $147 billion by 2025.