Report on the Asia Consumer and Online Shopping
Rakuten Insight are happy to team up with retail innovation and technology company Tofugear to present this report on online shopping and the Asian Consumer.
The growth of ecommerce in Asia is currently unparalleled. One only needs to look at the sales extravaganza that is ‘Singles Day’ in China and how mobile is the device of choice, to understand the sort of opportunities there are out there for brands and marketers.
However, Asia is a diverse and fragmented collection of countries, often with very localised opportunities and challenges. This makes it difficult for global brands to find a one-size-fits-all solution. Rakuten Insight, as Tofugear’s partner in this report, provided 6,000 respondents across 12 Asian markets from our industry leading research panels to try to answer some of the burning questions that retailers and brands may have.
This report offers a comprehensive guide on Asian shoppers’ behaviours, preferences, interests and concerns about both online and in-store shopping. Despite the diversity of each country, there are common unmet needs across all the markets in both ecommerce and bricks-and-mortar channels, which could be turned into great market opportunities.
Regardless of the different devices or channels that Asian shoppers choose, they all share practical expectations in their shopping journey such as convenience and immediacy – not to mention competitive prices.While Rakuten was founded as an online marketplace, we have since branched out into financial services, communications, media and other services around the world. This has allowed us to see the potential that physical retail can offer, particularly those that embrace digital innovation as a way to enhance the customer experience and engage with a new generation of shoppers.
The findings from this report reflect an ongoing shift in online and in-store purchasing behaviours. Consumers will continue to embrace digital technologies while also demanding a fully integrated shopping experience. We believe there is a clear opportunity for retailers to build meaningful relationships with their customers by adopting an omnichannel approach.