The speed at which the global e-commerce industry has grown over the past few years is remarkable. As recently as 2014, the worldwide online shopping sector was valued at around US$1.3 trillion; by 2021, that number is expected to top US$4.5 trillion.
This 30-page report focuses on three overarching factors that impact consumer and business purchasing in the Asia-Pacific region, based on consumer research in Australia, China, Hong Kong and South Korea. These three factors are:
Visibility
With so many e-commerce options across the internet, customer experience is key, and one thing customers seek across the entire path-to-purchase is visibility. This includes easy-to-see product details, prices, fees, shipping costs, delivery times, free shipping qualifications, international sourcing, and a clear returns policy – and they want to see it all up front or the result may be an abandoned cart.
Incentives
Shoppers are not necessarily only driven by a desire to purchase a specific product – there are countless ways in which various incentives, loyalty programs and reliable customer service can tip the scale toward a purchase. One of them is a reliable and flexible returns policy – this is also mentioned in this report.
Customisation
Consumers want control. With the stresses and packed schedules of modern life, the last thing they want to do is deal with additional complications – which is why more shoppers are now putting the onus on retailers to make online shopping and package delivery fit into their lives.
