APAC ONLINE PENETRATION TO HIT 18 PER CENT BY 2025: GLOBALDATA

Inside Retail; 23/07/21

Online shopping in the APAC region is tipped to hit a penetration point of 18 per cent by 2025, spurred on by the changes in consumer shopping behaviour caused by the Covid-19 pandemic.

According to a survey by GlobalData, many retailers are considering further methods of diving into the online industry, such as social shopping, as consumers become more reliant on shopping from the comfort of their homes – with 58 per cent surveyed being extremely concerned with the safety of visiting stores at the moment.

And, with 65 per cent of people surveyed still working from home, more people spent more time online and, inevitably, more time shopping.

“There will be a generational shift in the physical store formats and retailers will need to align their operations with wider industry shifts, and make robust in-store tech investments to match consumers’ demand,” said Roy.

“E-commerce retailers and marketplaces must integrate technologies-driven initiatives on their websites to smoothen customers’ shopping journey and reduce the chance of order returns.”

According to Roy, the lines between social media and online marketplaces are beginning to blur, with social networks making it easier than ever for brands to reach their users: creating a massive opportunity for retailers to target new customers.

“Social networks are strategically placing buy buttons within their messaging apps, photos, videos, and programmatic ads to capitalize on this opportunity,” said Roy.

“Retailers must try adding interesting components to interact with customers, garner more subscribers and promote new content as social commerce is expected to become highly popular in the future.”