Tag: Southeast Asia

Mobile commerce is growing quickly in Southeast Asia

More consumers are opting to shop via mobile devices

Mobile commerce is beginning to see aggressive growth in Southeast Asia. The Asia Pacific region has become one of the most attractive and fastest growing mobile payments markets in the world, with companies from all over the world flocking to the region to take advantage of this fact. A new report from Criteo shows that Southeast Asia, in particular, is seeing significant growth in terms of mobile shopping and the availability of mobile payment services. This is partly due to consumers becoming more comfortable with the basic concept of mobile commerce.

Report shows that mobile shopping is growing in many Southeast Asian countries

The report from Criteo shows that mobile payments account for approximately 40% of all transactions made among digital retailers. In the fourth quarter of 2015, mobile transactions accounted for 25% of all payments being made in the digital space, with countries like India, Singapore, and Thailand experiencing the strongest growth in mobile payments. Among mobile shoppers, smartphones where the favored purchasing platform.

Smartphones have become the favored shopping platform among consumers

Mobile Commerce - Map of the Association of Southeast Asian NationsSmartphone purchases accounted for approximately 73% of all mobile commerce sales in Southeast Asia. Tablets accounted for only 27% of these transactions. Consumers had favored tablet devices in the past because of the larger screens that these devices feature. The shopping experience was also relatively more enjoyable than what consumers experienced with smartphones, as retailers had developed services that performed better on tablets. Now, however, consumers are favoring smartphones because of their small size and how much more convenient they are when compared to tablet devices.

Security remains one of the greatest concerns that mobile shoppers have

While mobile commerce is growing quickly in Southeast Asia, many consumers remain concerned about the security of their financial information when making mobile purchases. As mobile shopping becomes more popular, hackers are beginning to target this sector in order to gain access to consumer financial information. Retailers and companies responsible for mobile payment services have been addressing security issues in order to secure the continued growth of the mobile commerce space.

Report shows that mobile commerce is gaining steam

Criteo report highlights emerging trends that are influencing businesses throughout the world

Criteo, a leading performance marketing company, has released the latest edition of its mobile commerce report. The quarterly report provides analysis of the growing mobile commerce industry, highlighting trends that are strengthening as well as those that are emerging in prominent markets. For the report, Criteo examined data from some 1.4 billion mobile transactions, finding that four in 10 of mobile purchases are occurring within the United States.

Consumers are using multiple devices to make purchases online and off

According to the report, approximately half of all transactions made throughout the world involve the use of multiple devices. Many consumers appear to research products that they are interested in on their smartphones, opting to purchase these products on their home computers. This works the other way around, as well, with many consumers researching products and special deals on a PC before making a purchase on a mobile device of some sort.

Southeast Asia is becoming a powerful hub for mobile commerce

Mobile Commerce Report - GrowthThe report shows that Southeast Asia is home to a 45% conversion rate when it comes to retail sales. Many consumers in this region are using their mobile devices to shop and retailers have been successful in converting shoppers into paying customers. More than half of the online traffic in this region is coming from mobile consumers, as they have found that using their smartphones and tablets to get their shopping done is more convenient than simply visiting a physical store.

Businesses investing in mobile apps are finding success

Apart from a growing consumer base, businesses involved in mobile commerce are finding more success with their ongoing operations. The report shows that early investments in mobile commerce applications is generating significant payback for companies interested in digital shopping. According to Criteo, brands that make the app experience a major priority generate 60% of their total mobile revenue from these applications. These financial gains are expected to encourage companies to become more mobile-centric in order to provide better services to consumers using smartphones and tablets.