Booming Asian Market Provides Online Sales Opportunities
Online shopping is growing in popularity the world over, thanks to increasing internet access, mobile payments and changing consumer habits. In Asia especially, e-commerce is continuing to grow at a rapid rate, with a recent KPMG report finding 22.1 transactions per person per year are made in the region.
This is significantly ahead of North America (19 transactions per person annually), Europe (18.4) and Australia (16.1). For e-commerce businesses and online retailers looking to expand, or start-ups seeking a fruitful market to enter, Asia offers plenty of opportunities for both.
Factors Behind the Boom
E-commerce is predicted to grow all over the world in the next few years due to many factors. The ease and convenience that shopping online provides, improving parcel delivery companies and logistics, safer payments are all common factors. However, there are more specific reasons as to why Asia especially is experiencing some of the fastest and biggest growth in the sector.
The main reason consumers in India, China and Singapore cite for choosing to shop online is to avoid the large crowds present in shopping malls and on the high-street. In India as well, the government is pushing towards a reduced cash economy, by encouraging citizens to make more digital transactions. This coincides with a huge increase in internet users in the country too, with around 100 million internet and mobile users in India today.
For many in Asia, the growing e-commerce market has increased access to luxury items and other products previously harder to come by in the region. Rising disposable income in the region and the diversity and wider choice when shopping online, that hasn’t always been available, is another reason for the boom in consumer activity.
Growing E-commerce Markets
The top five products purchased online in general include books, music, electronic gadgets, computers and women’s clothing. These offer a good starting place for any e-commerce or online retailer hoping to enter a new international market, as they are some of the most popular items for sale across the globe online.
In India, telecom products and men’s footwear are also within the top five items bought online. While in China cosmetics and bags are two other of the top five popular items purchased. Fashion is therefore undoubtedly a growing e-commerce market in Asia, both for brands within the region but also buying from brands based in other continents.
Such growing e-commerce markets present the best opportunities for those looking to capitalise on Asia’s e-commerce and online retailing success. Consider these sectors if you’re looking to set up a start-up selling in the Asian market, or entering the market if you already sell such items.
Enter Asian Markets Successfully
Make the most of the booming e-commerce market in Asia by expanding into it with your online business. With a bit of research into the current climate you can easily find a gap in the market or an opportunity to jump on the back of growing trends.
There are various things you will need to consider to ensure this is a success, such as:
- Marketing: Target consumers in Asia or specific countries in the region by creating online marketing campaigns designed for them. The right marketing strategy will help boost your profile as you begin selling in the new market.
- Deliveries: Arranging small and large parcel delivery where items arrive on time and in the best condition is essential to keep customer happy. Our parcel delivery services cover international shipping, including complete global coverage and options to best suit your needs.
- Logistics: The entire process needs to be smooth and executed well so that everything from a customer placing an order to receiving it goes well. Test out your strategy to make sure the logistics are perfectly in place.
Until 2020 at least the Asian e-commerce market is predicted to grow, but taking advantage of this at the earliest opportunity will improve your chances of success. Make the most of these opportunities with our quality parcel delivery options to get you on your way.
Image courtesy of iStock.