The growth of digital commerce in Asia has been exponential in recent years. Finally, and with the ongoing COVID-19 pandemic. In this white paper, Commerce Tools and Merkle present the findings of a survey conducted. On the state of digital commerce providing valuable insights into the current. The landscape of online retail in the region.
Asia has seen rapid growth in digital commerce in recent years, driven in large part by the increase. In smartphone penetration, the rise of e-commerce platforms, and the growing popularity of social media. However, the ongoing COVID-19 pandemic has accelerated this trend, as more people turn to online shopping as safer. And then a more convenient way to purchase goods and services.
The survey conducted by Commerce Tools and Merkle revealed several key findings, including:
1-High growth potential for e-commerce
Asia’s e-commerce market is expect to grow at a compound annual growth rate of 23% from 2021 to 2025. Finally driven by the increasing number of internet users and the growing adoption of digital payments.
2-The importance of mobile commerce
The majority of consumers in SA prefer to shop on their mobile devices, with over 50% of. Additionally, respondents indicated that they use their mobile phones to make purchases.
3-The popularity of marketplaces
Online marketplaces such as Lazada, Shopee, and Tokopedia are among the most popular e-commerce platforms in the region. Over 70% of respondents reported that they have used these platforms to make purchases.
4-The impact of social media
Social media plays a significant role in driving e-commerce. With platforms such as Facebook and Instagram being among them. In addition the most commonly used channels for discovering products and making purchases.
5-The importance of personalization
Consumers in SA expect personalized experiences when shopping online, with over 80% of respondents indicating. That they are finally, more likely to make a purchase if they receive personalized recommendations or offers.
Implications for Retailers
Based on these findings, there are several key implications for retailers looking to capitalize. On the growing digital commerce market in Southeast Asia:
1-Focus on mobile commerce(Southeast Asia)
Retailers should prioritize mobile optimization, ensuring that their websites and e-commerce platforms are easy to use on mobile devices. The survey conducted by Commerce Tools and Merkle revealed. That the majority of consumers in prefer to shop on their mobile devices. This highlights the importance of prioritizing mobile optimization for retailers looking to succeed in the region’s digital commerce market. Mobile devices are the primary means of online shopping for many consumers. It is critical that retailers ensure their e-commerce platforms are optimize for mobile use. This includes ensuring that the website or app is easy to navigate on a mobile device. Additionally, it has fast loading times and offers a seamless checkout process.
2-Leverage online marketplaces( Asia)
Retailers should consider partnering with online marketplaces to reach a wider audience and benefit from their established customer bases.
Finally, the survey by Commerce Tools and Merkle also found that online marketplaces. Such as Lazada, Shopee, and Tokopedia, are among the most popular e-commerce platforms. This highlights the importance of retailers partnering. These online marketplaces reach a wider audience and benefit from their established customer bases. By partnering with online marketplaces, retailers can take advantage of their marketing efforts. And tap into their existing customer base, while also benefiting from their established infrastructure and logistics capabilities. This can help retailers expand their reach, increase sales, and improve their overall bottom line. In the highly competitive digital commerce market in Southeast Asia.
3-Utilize social media(Asia)
Retailers should use social media to promote their products and engage with customers. Taking advantage of the popularity of these platforms in it.
The survey by Commerce Tools and Merkle also revealed that social media plays a significant role. In driving e-commerce sales in Asia, platforms such as Facebook and Instagram are among them. The most commonly used channels for discovering products and making purchases. This highlights the importance of retailers utilizing social media to promote their products and engage with customers. By using social media, retailers can increase brand awareness, reach new customers, and engage with existing ones. It also provides an opportunity to showcase products, offer promotions, and gather customer feedback. Overall, social media is a valuable tool for retailers looking to succeed in the digital commerce market in SA.
Retailers should invest in personalization technologies to provide customers with tailored experiences and increase their likelihood of making a purchase. Additionally, the survey conducted by Commerce Tools and Merkle found that consumers in expect. It is a personalized experience when shopping online, with over 80% of respondents indicating. That they are more likely to make a purchase if they receive personalized recommendations or offers. This highlights the importance of retailers prioritizing personalization in their online shopping experiences.
Personalization technologies can help retailers provide tailored recommendations to customers, based on their browsing and purchase history, demographics, and preferences. This can help retailers increase customer loyalty, improve customer retention, and ultimately drive more sales. Moreover, personalization can help retailers stand out in the highly competitive digital commerce market. By offering a personalized experience, retailers can differentiate themselves from their competitors. And create a more engaging and satisfying shopping experience for their customers. Therefore, personalization is a critical factor for retailers looking to succeed in the digital commerce market in Southeast Asia.
The survey conducted by Commerce Tools and Merkle provides valuable insights into the state of digital commerce in it. The findings emphasize the importance of mobile optimization, online marketplaces, social media, and personalization for retailers looking to succeed. Moreover, the region’s digital commerce market. With Asia’s digital commerce market is project to continue growing rapidly. It is critical for retailers to adapt to the changing consumer behavior and preferences in the region. By leveraging the insights provided by this survey and implementing the necessary strategies, retailers. And then position themselves to capitalize on the immense potential offered by Asia’s digital commerce market.
Finally, the growth of digital commerce in Asia presents significant opportunities for retailers. But also requires a deep understanding of the unique characteristics of the region’s online retail landscape. By leveraging the insights provided in this survey white paper, retailers can better position themselves. To succeed in the highly competitive digital commerce market in SA.