It is for sure that in the latest pandemic state, the growth of e-commerce has been accelerated to a great extent. More and more people are turning to the practice of online shopping and browsing to find the products that they need. Many are doing this for the first time even.
As this trend is increasingly growing and more and more people are getting interested in buying things that are apart from their essential goods, the online brands are profiting a great deal from their choices.
There are mainly three Trends that we can look at data in effect with e-commerce in SEA that follows the current trend of the buyers in their online shopping.
The online store as the storefront that you have
Although the restrictions for movements outside are increasingly easing up, the outdoor traffic is indeed lower than usual. On the other hand, online buyers are increasing day by day.
Limited movements are noticed in different parts of Southeast Asia as the people are not referring to move out for their grocery purchase. The only exception to this practice is Thailand and Vietnam.
Even when some of the SEA countries are now coming out of the lockdown, the trend for online shopping and browsing for more products is steadily rising. In Thailand, it was an increase of 63 %, whereas in Malaysia, it is 32%, and in Vietnam, it is 13% more or less. These statistics clearly indicate the changing preference of buyers.
From the statistics, only one can understand why the presence of a company in the online market is essential now. The digital format offers a hassle-free, fast, and easy purchase process. The online buyers really prefer that.
As people are left getting out of their houses for their shopping, this is the right chance for the brands to establish their reputation online for long days to come.
Both Old and New Seller Are Preferring Online Sales
In recent months, more and more people prefer E-Commerce sites, and there are many newcomers in this process as well.
Singapore shows the increase of 24% online buyers when the time of the city’s circuit breaker was in the process. In Indonesia also the lockdown, the E-Commerce site witnessed the rise of new buyers up to 32%, and there are many in this number who I have never to part in any kind of online purchase before. However, it will be e an illusion if one judges this as a short time changed due to the lockdown and pandemic.
The fact remains that from that 74% of Singapore buyers online, most have confirmed that they will prefer the online purchase choice in the coming days as well. Lockdown or no lockdown, this trend is likely to continue in the coming days as well.
According to the CEOs of one of the online shops, the demands of online customers have been extraordinary in the last few months, and the returning customers have also increased in this process. For the branding process, this is one of the most important things to them.
However, as new buyers are entering the online purchase options, a whole lot of new seller groups are also coming online.
Shopify recorded an increase of 62% in new online stores created by them between March and April compared with the prior 6 weeks. At the same time, queries have increased online about the term “seller” in Southeast Asia, and it’s almost 20% more in May then it was in the month of April. This search continued even when retail shops were permitted to open in the market.
A significant contribution is also coming from the online marketplaces that already exist. A great many of them are giving shelter to the new sellers so that they can increase their reputation and come up with new options for or exciting sales.
The bottom line is that coherence is needed in the online market, although online buyers are rising up in numbers from time to time.
Purchases beyond the Essential Items
A specific change of interest is also noticed among the buyers as their spending more and more time online at the time of the lockdown. The shift has been from the essential items to the non-essential ones such as devices for smart home, Cosmetics, cooking utensils, many more.
The huge craze is noticed for cooking appliances such as air fryer, which has increased up to 190% in Singapore. This happens during the lockdown days.
At the same time, growth for blender and searches for coffee maker has been 68% and 33% in growth, respectively, in the Philippines.
It is quite clear that as people are unable to go out of their preference in the online options to purchase the amenities to make their home comfortable and entertaining. It is quite clear that as people are unable to go out of their preference in the online options to purchase the amenities to make their home comfortable and entertaining. For example, home Automation searches increased by 95% while searches for smart TV increased in Malaysia by 39%.
Therefore it is quite clear that the online platform is increasingly becoming a one-stop solution for people in their purchase. From vitamins to supplements, from television to kitchen utensils, in every phase, the requirement is increasing day by day at an astonishing speed. It might look at the very outset that the pandemic is causing such drastic changes, and in its departure, things will be just like before, statistics and trends, and the opinions of the buyers are not supporting this view.
This clearly shows that in the coming days, more and more online sellers and buyers will join the platform and come up with the best commerce dealings worldwide. Especially in Southeast Asia, such changes are bound to come in the long run, which will pave the future path.
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