Due to the low credit card penetration rate in Southeast Asia (excluding Singapore), e-commerce payments face many challenges. Payment options are diverse. As of 2018, more than 80% of e-commerce companies in Vietnam and the Philippines provide cash on delivery services. Bank transfers are popular in Indonesia (94%), Vietnam (86%) and Thailand (79%). In Thailand and Vietnam, nearly 50% of merchants provide offline points of sale. Installment payments are very popular and growing in popularity in Vietnam (47%) and Indonesia (42%). Companies that want to enter the Southeast Asian e-commerce market need to know more about payment methods and be mentally prepared.
Like shopping during working hours
According to statistics, the number of e-commerce orders in Southeast Asia is highest between 9 am and 5 pm, which shows that shoppers in this region are likely to Shopping during working hours.
Multi-channel shopping, budget-conscious
In Southeast Asia, multi-channel shopping decisions such as independent websites, social media distribution and online and offline integration are deeply penetrating into local life. For example, for products with higher value and higher trial and error costs, consumers often search online first, then compare them offline, and then choose a shopping method after comparison. Both are online, and consumers have a wide range of platforms and formats to choose from. Generally speaking, consumers will choose the method that is most beneficial to them to shop.