Southeast Asian E-commerce is prosperous as ever, thanks to a combination of increasing choices, better access to the Internet and rising affluence.
Online customers behavior
According to a survey named “Riding the Digital Wave: Southeast Asia’s Discovery Generation”, conducted by Facebook and Bain & Company provides us with valuable insights regarding this promising sector.
Social platforms continue to be a strong promotion channel, as more than half of the respondents saying they learn about new products and brands on social media. 2 in 3 of them also come to shopping portals with no specific products in mind. This indicates that online customers are very open to new suggestions, which is proved by the percentage of shoppers trying out new stores that they have never heard of before being more than 40%.
Southeast Asians express a strong preference for omnichannel shopping. A common buyer usually survey another shop across platforms before making a purchase decision. They are also very price-conscious for comparing prices across platforms, both online and offline for any wanted item. Price, along with interesting products and positive reviews are the top 3 reasons for a customer to seal the deal.
E-commerce is no longer a platform for big-ticket items but it also expanded to low-cost daily products like groceries, clothing and personal care. With a customer base that is open to discovery, there are opportunities for businesses of niches and all sizes to compete for the spotlight. However, the low returning rate also signals that E-commerce sellers should prioritize their customer rewards and loyalty programs.
There is a lot of potential for Southeast Asian E-commerce to keep developing. Amid the battle between major players, consumers across the region can enjoy more values, choices and convenience. A researcher suggests that “Brands need to be very savvy and re-imagine their marketing and trade spend to be in sync with the ever-evolving omnichannel consumer journey. They also need to ensure a positive online shopping experience to their digital consumer.”
BoxMe is the premier cross-border e-Commerce fulfillment network in Southeast Asia, enabling world-wide merchants to sell online into this region without needing to establish local presence. We are able to deliver our services by aggregating and operating an one-stop value chain of logistic professions including: International shipping, customs clearance, warehousing, connection to local marketplaces, pick and pack, last mile delivery, local payment collection and oversea remittance.
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