Connect with us
Thailand Business Directory

Ecommerce

How Are Asian Shoppers Doing Five Years After Digital Disruption?

Asia Pacific is a region with burgeoning population growth, a predominantly young workforce, improving living standards and a growing middle class with an increasing desire to spend.

Avatar

Published

on

Market research company Nielsen recently published insights about Asia’s retail landscape during the digital disruption. Two words were consistently used: ‘change’ and ‘uncertainty’.

How have the last five years affected Asian consumers, and in turn, retail performance?

1. Increasingly comfortable consumers

Almost three out of four Asia Pacific consumers believe they are financially comfortable enough to buy things because they want them. This correlates with the upgrade in everyday items, where Asian consumers are choosing more premium versions of daily necessities like milk and shampoo.

Asia Pacific benefits from vast opportunities within its own borders. This is a region with burgeoning population growth, a predominantly young workforce, improving living standards and a growing middle class with an increasing desire to spend.

Two out of three consumers across the region feel they are better off than they were five years ago, the global average is 55%.

2. More access to technology and products 

61% of consumers in Asia Pacific cite ‘improved technology’ as the key service they didn’t have access to five years ago.

More premium products, broader assortment and better technology are the key factors that have driven ecommerce forward in the region.

Access to better technology, increasing internet penetration and the rise of different online platforms mean that consumers in Asia Pacific constantly have new ways to shop, to interact with each other, and are always accessible.

37% of respondents from Asia Pacific also cite “better retail formats” as something new that did not exist five years prior.

Very simply, Southeast Asians are more financially stable than five years ago, have more access to a variety of products and technology that enables them to live comfortably. This has resulted in the much-discussed ‘ecommerce boom‘ and will continue to allow the online retail industry to flourish.

This is also the first time Nielsen has included a portion of survey results from consumers in Myanmar, an indication that the country’s developing economy will play a more significant role in Southeast Asia’s growth as a retail market to look out for. For more on Myanmar, read eIQ Insights on the country’s ecommerce potential here.


Survey results included in…

Original content by ecommerceIQ

Comments

Ecommerce

The Rapid Growth of Online Scam in South East Asia

Due to the coronavirus pandemic, more people are required to remain at home, spending more time on the internet and increasing the levels of exposure to online scams and fraud.

Jeff Pinchuck

Published

on

Due to the coronavirus pandemic, the law requires everyone to remain at home for an unknown period to curb the spread of the virus.

(more…)
Continue Reading

Ecommerce

Alibaba confirms $13bn listing in Hong Kong

Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.

To continue reading, subscribe today : View subscription options.

Already a subscriber? Sign In here, or use a social media account to login.

Avatar

Published

on

Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.
To continue reading, subscribe today : View subscription options.
Already a subscriber? Sign In here, or use a social media account to login.
Continue Reading

Ecommerce

E-commerce in ASEAN: Digital technology and players

The 50 most-funded e-commerce start-ups in ASEAN have raised $12.6 billion as of July 2019, with most of the funding raised in the last two years

Avatar

Published

on

E-commerce has been the most dynamic segment of the Internet economy in ASEAN over the past three years. The value of e-commerce rose four-fold, from $5.5 billion in 2015 to more than $23 billion in 2018.

(more…)
Continue Reading

Cart

Most Viewed

Events Calendar

« October 2020 » loading...
M T W T F S S
28
29
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
Wed 28

Vend ASEAN(Bangkok)Vending Machine & Self-service Facilities Expo 2020

October 28 @ 8:00 am - October 30 @ 5:00 pm BMT
Wed 28

Vend ASEAN 2020

October 28 @ 10:00 am - October 30 @ 6:00 pm BMT

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,056 other subscribers

Latest

Trending