Tag: market study

Singapore – Singapore-headquartered e-commerce platform Shopee retains its leadership as the most-visited e-commerce site in the Southeast Asia region in 2020, followed by similarly Singapore-born e-commerce Lazada, the newest report from e-commerce aggregator iPrice showed.

In the latest report that is in partnership with SimilarWeb and Appsflyer, Shopee topped the ranks, garnering on average 281,385,626 visits on the platform. In 2019, similarly earning the top spot Shopee had a total combined regional traffic of 2,061,511,094 on the platform.

Lazada is the second most-visited e-commerce platform, with a total average visit of 137,154,967 in 2020, where in 2019, it recorded total regional traffic of 1,843,848,694, likewise trailing Shopee. 

Meanwhile, Indonesia e-commerce platforms Tokopedia and Bukalapak ranked third and fourth respectively, each of them garnering on average 88,889,000 and 35,728,425 platform visits respectively, compared to their total visits of 906,032,258 and 646,348,016 in 2019 respectively.

Thegiodidong, a Vietnamese e-commerce platform, ranked five on the list, with an average 28,650,650 visits last year, in comparison to its 351,327,843 total visits in 2019.

The other platforms in the list saw some changes in the ranking, as Vietnamese e-commerce Sendo.vn dropped two ranks from its sixth rank in 2019 to being in the eighth rank in 2020. Meanwhile, Vietnamese e-commerce Tiki and Indonesia e-commerce Blibli moved one step higher than Sendo this time, garnering the sixth and seventh places respectively. 

Three brands, namely Singapore’s Qoo10, Indonesia’s JD ID, and fashion e-commerce site ZALORA, failed to be in the final list of top 10 key players in 2020 despite showing relevance in the second and fourth quarter of 2020.

Singapore – The digital disruption during the offset of the global pandemic has made businesses in the Asia Pacific prioritize investment in improving insight and analytics capabilities, a new report from computer software company Adobe shows.

The APAC-centric report shows around 49% of businesses willing to invest in insight and analytic solutions for their business to achieve their top marketing goals this year. In addition, one third (35%) of ANZ leaders believe their organization has strong capabilities in accuracy, actionability, speed, and access of insights, while Asian leaders are far more pessimistic at around 9%.

With that in mind, leaders in ANZ think their interest in investing to analytic support is a focus on personalized customer experience as 33% of respondents agree to this reasoning, while Asian leaders are committed to enabling digital customer acquisition (35%).

Duncan Egan, vice president of DX Marketing, APAC, and Japan at Adobe commented that organizations with better access to insights are more likely to say their customers are positive about their digital experience compared to their peers with lower levels of insight.

“For brands across every sector, 2020 brought a loss of predictability. Organizations of all kinds were driven online at an accelerated rate, creating a wave of new digital customers with increasing expectations. Customers now have the upper hand in the ‘digital relationship’, with more than half of marketing respondents across APAC reporting unusual changes in customer behaviors and journeys in 2020,” Egan said.

He added, “A company with a strong customer experience (CX) strategy is more likely to achieve long-term growth than its competitors, as they are better positioned to adapt to changeable customer behaviors and markets. This report highlights that organizations need to accelerate their insight and action capabilities by moving to more flexible technologies and cloud-based platforms, as well as a unified and real-time view of the customer journey.”

The report also showed that respondents who are confident about their company’s customer experience feel optimistic about their corporate strategy (63% in ANZ vs. 73% in India vs. 56% in Asia) and their own prospects for career growth (61% in ANZ vs. 70% in India vs. 57% in Asia). In addition, organizations across APAC report three significant barriers that are hampering marketing and experience: legacy technology and systems (51% in ANZ, 37% in India and Asia), workflow issues (38% in ANZ, 33% in India, and 48% in Asia), and a lack of digital skills and capabilities (34% in ANZ, 24% in India and 43% in Asia).

Egan explained that the manifested data has been a result of the current shift to remote work, which in turn has a significant and enduring impact on businesses moving forward, requiring new marketing strategies for reaching and keeping customers.

“Companies have never been more interested in being agile and adding new capabilities for seamless digital execution, with one third (34%) saying they’ve been unusually agile and able to make quick decisions,”said Egan. 

“A hybrid approach to technology – comprising cloud and other data management systems – allows organizations to be flexible and collaborative, letting them work better with existing solutions and quickly integrate new ones. The effects of such an approach within these organizations can be seen in the improved capability in key areas of analytics and insights, added Egan

Furthermore, the report also found that transparency is still lacking with only a small number of leaders (13% in ANZ and 12% in Asia) claiming their organization is effective at communicating how data is collected and used. Also, only 10% in ANZ and 13% in Asia believe they are highly effective at communicating the value offered in exchange for customers’ consent when they first encounter the brand.

Lastly, Adobe reported that most organizations are still a long way from authentically displaying digital empathy. Just over a third (37%) of Indian executives have significant insights into customer mindset, followed by 27% in ANZ and 19% in Asia. Drivers of purchase, friction points, and attribution of how marketing actions relate to customer behavior fare only marginally better.

Singapore – The current state of the world in the mid of the global pandemic has changed the perception among industry professionals on understanding the preferences of consumers, a study by enterprise listening company TalkWalker and open review platform Trustpilot showed.

According to the global study, around 82% of industry professionals believe that the pandemic has changed their understanding of consumer conversation. In addition, half of the respondents (50%) said that access to insights from consumer conversations is still limited to a specific department within their organization, which is still some way to go for data democratization. Lastly, 18% of the respondents said that their organization monitors and analyzes conversations through a unified platform.

Some of the key channels affected by the pandemic in terms of consumer understanding include social media and community management, product marketing, corporate affairs, digital marketing, customer relationship management (CRM) and customer experience.

Social media remains the top source of brand interaction, with growing focus on review sites, blogs and call centers. Around 28% of respondents said that social media is one of their three top channels for brand engagement.

The report also stated that there is much to be done in terms of analytics training and education, with less than 44% of respondents seeing their brand as extremely data-driven; yet experts identify technology as a key to move forward in 2021 and to make sense of sentiment around their brand, their competitors or their industry at scale. 

APAC leads the charge in data democratization, with 41% of respondents showing such characteristics, followed by EMEA (33%) and the United States (28%).

“Most of the brands in APAC that are struggling with insufficient data and inadequate analysis, currently rely on manual monitoring as well as a set of different tools. To reduce these difficulties, companies should consider a unified platform that gathers all necessary data, and allows them to analyze conversations at scale,” the report stated.

As a recommendation, TalkWalker and Trustpilot notes that leaders must break down information barriers, and let customer and consumer intelligence flow from all channels, as over 50% of respondents admit that data siloes still exist within their organizations. 

The report also stated various industry case studies where brands can learn from, such as the automotive industry accelerating to green mobility to the finance sector’s adoption of digital banking, as well as the rapid transformation of the pharmaceutical industry.

“Today’s consumers expect brands to meet them where they are, with empathy, and a shared set of values. Conversational Intelligence is the key to unlocking meaningful customer relationships by understanding what customers are saying, where they are saying it and why,” said Cara Buscaglia, chief innovation officer at Talkwalker.

Meanwhile, Peter Simpson, head of enterprise and global partnerships at Trustpilot commented, “Listening to and understanding customers is key to building a trusted brand. This principle is core to the services of both Trustpilot and Talkwalker, making us natural partners for this report. The findings published here will help businesses better learn what consumers expect of them, and how they can position themselves to deliver.”

The study was conducted with the participation of over 1000 marketing, PR and consumer insights professionals across APAC, EMEA and the USA.

Singapore – As more and more people are stuck in lockdown during the pandemic, over-the-top (OTT) mobile streaming has garnered mainstream success, new study from mobile app analytics platform Adjust shows.

According to the recently published data, 52.5% of consumers worldwide have used smartphones to stream more video content, and 12% of consumers are streaming less — which means four times more consumers are mobile streaming. 

In terms of streaming frequency, China led the survey, with around 93.8%of users admitting to do mobile streaming at least once a day. This is then followed by South Korea (86.2%), Singapore (83.7%), Turkey (91.9%), United States (69.4%), Japan (57.2%) and the United Kingdom (45.7%).

South Korea led the study’s data on willingness to spend a sizable amount for streaming and on-demand entertainment services, averaging to US$42.68 a month, compared to its Western counterparts, the United States (US$33.58) and the United Kingdom (USD$34.82).

“This drastic shift to routine mobile streaming around the world and across generations has created massive advertising opportunities and a new role for mobile analytics. By understanding how and when consumers stream, as well as which channels and campaigns deliver the highest marketing impact, the potential to build a large, loyal user-base with high lifetime value is virtually limitless,” said Gijsbert Pols, lead product strategist at Adjust.

The study also found out that more than three quarters (76%) of all respondents use their mobile phone while watching television, viewed as ‘second-screeners’, with this viewing behavior most pronounced in Singapore and China (both 85%), closely followed by the U.S. (83%).

Furthermore, social apps are the number one choice for second-screeners — favored by 65.4% of respondents, on average, followed by banking (54.9%) and gaming (44.9%). Second-screeners in APAC have a healthy appetite for food delivery apps, with use strongest in China (65.2%), Korea (36.6%) and Singapore (48.2%).