• In a Q2 HKTDC survey, 24.3% of respondents indicated that they were currently engaged (or planned to engage) in cross-border e-commerce operations within the ASEAN market. 
• The respondents saw rising e-commerce potential in the ASEAN market, thanks to its rapid market growth and increased consumer purchasing power, with Singapore viewed as offering the greatest cross-border e-commerce opportunities.
• Respondents picked third-party e-commerce platforms as their preferred channel for accessing the ASEAN e-commerce retail market, as it accounted for 68.0% of the responses collected.
• Regulatory compliance was seen as the biggest challenge by respondents actively engaged in ASEAN cross-border e-commerce, while those not engaged were more deterred by the perceived high level of market competition.

Overview

In the first quarter of 2026, HKTDC Research conducted a survey relating to the development of cross‑border e‑commerce among Hong Kong traders¹. Among a number of other findings, this showed that 14% of respondents saw the ASEAN bloc as a key potential market. Looking to explore this further, in the second quarter of the year, HKTDC Research conducted a follow‑up survey with an explicit focus on cross‑border e‑commerce operations in the region. One of the headline findings here was that 24.3% of respondents saw the ASEAN market as a key cross‑border e‑commerce target. 

Among those expressing such a preference, Thailand was deemed the development priority for the next 12 months, while Singapore was acknowledged as the most promising ASEAN market over the longer term. The ASEAN market was particularly prized for the rapid growth of its local consumer market and higher levels of individual spending. In terms of accessing such markets, respondents chose third‑party e‑commerce platforms as their most preferred channels.

In addition to market opportunities, survey respondents were also asked to flag up what they saw as potential challenges. Among those keen to engage in ASEAN cross‑border e‑commerce retail, regulatory compliance was viewed as the primary challenge. Among respondents less committed to such activity, intense market competition was cited as the defining obstacle. All respondents, however, were united in seeing risk management solutions, legal services, and logistics services as the most mission‑critical support‑service requirements. 

24.3% of exporters interested in ASEAN e-commerce retail

Of the 513 traders participating in the Q2 survey, 24.3% were interested in (i.e., currently engaged in or planning to commence within the next 12 months) ASEAN‑related cross‑border e‑commerce retail activity. In all, more than 20% of respondents in each industry sector had such an objective, with the toy industry (26.9%) having the highest percentage.

Thailand: Highest priority ASEAN cross-border e-commerce market

Among those interested in cross‑border ASEAN‑related e‑commerce retail activity, Thailand was the top choice for the highest proportion of respondents (45%). There was also considerable interest in Singapore (43%), Malaysia (38%), and Vietnam (34%).

Singapore: Market deemed to have the most potential

In all, almost half of those expressing an interest in cross‑border e‑commerce retail saw Singapore as the ASEAN market offering the highest level of opportunity over the next 1‑2 years. Beyond this, Malaysia (45%), Thailand (41%), and Vietnam (41%) were also seen as having considerable potential for growth.

Growing consumer spending driving cross-border e-commerce

It was also widely noted that the ASEAN market has undergone rapid development over recent years. This has seen rising purchasing power lead to sustained growth in consumer demand. At the same time, the e‑commerce‑driven transformation of the overall shopping experience has rejuvenated many of the ASEAN markets.

When asked why they favoured a particular market, 43% of traders indicated that rapid market growth and increased consumer purchasing power were the primary factors in their choice. It was also acknowledged that shifting consumer behaviour (38%) and less competition compared to traditional markets (38%) had also influenced their views.

Third-party e-commerce platforms most favoured sales channels

When it came to exporters’ e‑commerce channel preferences, third‑party e‑platforms, including local e‑commerce platforms, were the top choice for respondents, accounted for 68.0% of the responses collected, while a relatively small proportion of exporters favoured social media platforms (24%) and company websites (8%).

A more in‑depth analysis shows that Amazon (58.4%) was the preferred third‑party e‑commerce platform for ASEAN‑oriented exporters, followed by JD (29.6%). On the social media front, Instagram (28.8%) had the highest level of support.

While, in general, respondents favoured third‑party e‑commerce platforms – notably Amazon and JD – jewellery industry traders were more inclined to make use of social media platforms, particularly Instagram and Xiaohongshu, as sales channels. In another notable variation, exporters in the equipment/materials sector tended to use their proprietary websites as primary online sales channels.

Perceived challenges vary in line with market engagement

In terms of the greatest challenges posed by the ASEAN market, responses diverged markedly in line with participants’ level of ASEAN cross‑border e‑commerce engagement. Among those respondents currently engaged or planning to participate in such activity, 24.8% saw regulatory compliance requirements as their primary obstacle. Of those less directly engaged in ASEAN cross‑border e‑commerce, 28.4% were most deterred by the high perceived level of market competition. Both groups, however, saw their limited understanding of e‑commerce setups/operations as the second‑most significant challenge.

Risk management seen as most essential support service

As with the findings of the first quarter survey, risk management solutions, legal advisory services, and logistics services were the most widely cited support services. In the more recent survey, though, there was a greater emphasis on the need for risk‑management solutions, with 39.2% of respondents seeing them as essential for mitigating financial risks (and other possible problems) when cooperating with third parties. Legal assistance accounted for the second‑largest share (32.4%), an outcome seemingly fueled by traders’ commitment to ensuring regulatory compliance and securing intellectual property protection. In third place, meanwhile, at 27.7%, was logistical support for order management and returns handling.

It was also notable that the responses here were largely consistent regardless of respondents' interest (or not) in ASEAN‑related cross‑border commerce retail.

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¹ Hong Kong Adopts Cross-border E-commerce, Hong Kong Exporter Survey 1Q26, HKTDC Research