Study highlights the potential of Southeast Asia as a prominent retail market
Southeast Asia may be a massive mobile commerce market that has not yet been tapped into, according to a study by UBS. The study shows that online spending throughout the region is likely to reach $35 billion by 2020, driven by the growing adoption of mobile commerce among consumers. Many people in the region are gaining access to smartphones and tablets, and their interest in mobile commerce has grown along with this.
Lazada begins seeing more online traffic as consumers become more active
Online retailer Lazada has reported that it has been receiving more than 2 million visits to its website each day despite the fact that a mere 2% of consumers in Southeast Asia shop online. Much of the traffic is coming from mobile devices. By comparison, approximately 8% of the Chinese population participates in online shopping, and 10% of consumers in the UK and United States do so. The potential for mobile commerce success in Southeast Asia may be massive, if retailers can find a way to engage mobile consumers effectively, they may be able to find greater degrees of success.
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Zalora sees major potential in the mobile space
Online fashion retailer Zalora is quite optimistic of the mobile space. The company notes that Southeast Asia may be the world’s fastest growing e-commerce markets. The reason behind this may be the growing number of Internet users in the region. Over the next three years, the number of Internet users in Southeast Asia is expected to grow from 199 million to more than 249 million. As people gain access to the Internet, they are shopping more online because of the convenience that it offers them.
Mobile commerce is growing quickly throughout Asia
Mobile commerce has become quite popular throughout Asia. In China and Japan, mobile payments and shopping have flourished due to the number of mobile consumers in these countries. Developers of popular applications, such as WeChat, have managed to find success in the mobile commerce space by introducing payment support to their apps.