The cultures and regional characteristics of Southeast Asian countries are different. What are the main e-commerce shopping habits of local consumers?
According to research data from HKTDC (Hong Kong Trade Development Council), “convenience” is the primary reason for consumers to shop online, and 73% of consumers said that “shopping anytime, anywhere” is their main motivation for online shopping. Following closely, 69% of consumers said that “easy price comparison” is the main factor they consider when shopping, which reflects that price is still the main consideration for middle-income consumers. 61% of consumers believe that “online shopping allows you to read reviews of products by those who have already purchased them.” 58% of consumers said that they can “find cheap deals” when shopping online. “More product categories” is also generally considered to be a decisive factor in promoting online shopping. More than half (55%) of consumers believe that online shopping websites “provide more product categories than traditional stores” is an important reason for their tendency to shop online.
High-quality and low-priced products are what Southeast Asian customers need most
Although Southeast Asian countries have experienced good economic development and rapid development in recent years, the overall economic level and overall consumption level still need to be improved. Therefore, the consumption level of most consumers is still relatively low. They prefer to choose some low-priced fast-moving consumer goods, after all, the cost of trial and error is lower. At the same time, Southeast Asian consumers are concerned about the still developing and immature e-commerce industry, such as they are afraid of counterfeit goods, lost items, and poor service. In short, Southeast Asian customers are most in need of high-quality and low-priced products.
Mobile terminals are an increasingly important source of traffic
Southeast Asian countries have invested heavily in the construction of network infrastructure, the Internet penetration rate has risen, and the rise of mobile e-commerce in Southeast Asia is unstoppable. Studies have shown that in early 2020, mobile traffic in Southeast Asia accounted for more than 70% of all e-commerce traffic. Among them, Indonesia has the highest proportion of mobile traffic, up to 87%. In addition, Southeast Asians spend an average of 3.6 hours a day using mobile Internet, which is the highest number in the world. Therefore, how to attract consumers with a variety of mobile terminals is the key to gaining consumer attention.
Diversified payment methods
Due to the low credit card penetration rate in Southeast Asia (excluding Singapore), e-commerce payment faces many challenges. Payment options are diversified. As of 2018, more than 80% of e-commerce companies in Vietnam and the Philippines offer cash on delivery services. Bank transfers are popular in Indonesia (94%), Vietnam (86%) and Thailand (79%), and nearly 50% of merchants in Thailand and Vietnam offer offline sales points. Installment payments are very popular in Vietnam (47%) and Indonesia (42%) and are becoming more popular. Companies that want to enter the Southeast Asian e-commerce market need to learn more about payment methods and be mentally prepared.
Like to shop during working hours
According to statistics, the number of e-commerce orders in Southeast Asia is the highest between 9 am and 5 pm, which means that shoppers in the region are likely to shop during working hours
Multi-channel shopping, careful budgeting
In Southeast Asia, multi-channel shopping decisions with independent websites, social media distribution, and online and offline integration are deeply penetrating into local life. For example, for products with high value and high trial and error costs, consumers often search online first, then compare offline, and then choose a way to shop. Online, consumers have a variety of platforms and forms to choose from. In general, consumers will choose the most advantageous way to shop.