PayPal Stories Archive

The truth is, there's no getting around the fact that mobile devices will be Asia's first choice when it comes to shopping online. Research by PayPal has found that mobile commerce (or m-commerce) is growing at three times the rate of e-commerce. Between 2013 and 2016, the compound annual growth rate for m-commerce is projected at 42 percent versus 13 percent for e-commerce. 

 

For many Asians, especially those in developing countries, owning a smartphone was the more intelligent decision (pun intended) as, with limited funds, the decision to either own a smartphone or a computer was an easy decision to make. 

 

The former choice gave you on-the-go convenience merged with connectivity to access the Internet anytime, anywhere. That's why many forwent owning clumsy desktops and inconvenient landline-based phone, especially if telecommunications infrastructure was lacking in one's neighborhood. 

 

This tool that helped us access the world only became more ingrained into our daily lives as smart devices became faster, bigger, and cheaper. Consider what we see people use their smart devices for today, such as selfies, group discussions, tele- and video-conferencing, working, and now, shopping. And why not? With “phablets” also becoming all the rage now (these devices recorded a 60 per cent year-on-year growth in Asia in the middle of 2014, according to the International Data Corporation) m-commerce has never been a more enjoyable experience. 

 

Asians are quickly adapting to smart devices in droves, and also enjoy making them highly-personalised, with each user modifying it to their fancies and using this tool to access the media and information that they like and trust. 

 

However, retailers aren't tapping onto the vast potential of this personalised access as well as they ought to. There is a need for Asian retailers to adapt their sales strategies to attract shoppers in the region; this demographic encompasses 18-34 year olds, who make up an average of 59 percent of mobile shoppers around the world. In China, they account for 86 percent of all mobile shoppers! Retailers who know how to get the attention of these consumers will able to ride the meteoric rise of m-commerce for years to come. 

The only way they are going to make this work, though, is by making it as easy as possible for customers to be able to click and buy easily and safely. 

 

Although report after report say that mobile shopping is on the rise, shoppers are not giving m-commerce retailers any leeway to make mistakes. Demanding consumers expect the same shopping experience they have on laptops/desktops and even brick-and-mortar stores to extend to smart devices. Do you have slow load times or technical glitches on your mobile store? Prepare to have customers cancel their orders. Mobile is become so central so shopping that malls are integrating smart devices into the shopping experience. 

 

The convenience factor is the leading one when it comes to m-commerce, so expect consumers to want everything now, fast, and easy. Even fashion in Asia is seeing a dramatic shift as where consumers were once thought of to want to “try before they buy”, convenience has overruled the conventional wisdom and mobile-driven sales are leading the way in online shopping. 

 

Large markets like China and India are poised to increase their m-commerce spending, so it's imperative that retailers optimise their sites to accommodate mobile shopping: