The coronavirus pandemic has severely impacted major industries, small and mid-size enterprises (SMEs), and local businesses.
There’s nothing more exciting and thrilling than being armed with a credit card, and multiple browser tabs all showing products on Cult Beauty, ASOS, Lululemon, JCrew, Banana Republic and possibly more (if you have tips, drop us a line and help a fellow online shopaholic sister out).Because my cart is empty and I need to fill it. Image: PexelsBut, when it comes to online shopping, do you know what’s better than a credit card? It’s BIGPay.
Online shopping in Singapore is lacklustre even after Amazon debuted its Prime service in mid-2017. The island’s malls are trying hard to keep it that way.With some of the nation’s biggest mall operators reporting falling rents and rising vacancies, landlords, just like those elsewhere in Asia and the United States (US), are being forced to reposition.
With mobile penetration rates in Southeast Asia rapidly climbing, retailers have increasing room to utilise the mobile platform as an avenue to reach their consumers. In order to get the best results from their mobile app platforms however, they would have to interact with their customers at the mobile apps that peddle their goods. According to Fung Business Intelligence, modern Asian consumers are tech savvy, highly-connected, experience- and convenience-driven.
One of the biggest online retailers on the planet, Amazon is looking to creep into the burgeoning Southeast Asian e-commerce market. According to a TechCrunch report in November 2016, Amazon have been covertly buying assets and making new hires in the region. The report mentioned that Amazon’s plans in the region are led by Steven Scrive, head of Business Development in ASEAN. Singapore witnessed their first move into the region last year with the launch of Amazon Prime in the country.
The 2016 We Are Social’s special report on digital opportunities in Southeast Asia revealed that over half of Southeast Asia’s population is on the internet. This number is significant because it indicates that half the population have the opportunity to immerse themselves in the digital economy and participate in buying and selling things online, using digital wallets and so on.
We often hear that "cash is king". While it is undeniable that cash has been the preferred mode of payment in the past, the 21st century has introduced an array of cashless payment methods – also known as e-payment – to consumers all over the world. All across the globe, people are divided into those who prefer the more conventional mode of payment as others take a more progressive approach by supporting cashless transactions.
In recent years, online shopping has been gaining traction in the Southeast Asian region as consumers become more tech-savvy. The growing smartphone and internet penetration rate in the region has driven the rise of digital shoppers. Virtual stores are becoming more popular particularly amongst youngsters who prefer to shop online due to its affordability, variety and convenience.
