Fashion Goes Mobile in Asia Pacific22 April 2015
Asia Pacific accounts for 1.7 billion unique mobile subscribers, approximately half of the world’s total mobile subscribers. And this figure is expected to grow by 5.5% annually (CAGR), reaching a staggering 2.4 billion subscribers by 2020. While smartphone adoption rates are not completely homogenous across the region, three market leaders in terms of smartphone adoption are Hong Kong (87%), Singapore (87%) and South Korea (80%). In fact, more than 55% of phones in Southeast Asia are smartphones. In Q1 2014, smartphone sales hit the 18 million mark, a 43% jump from the same period in 2013. This growth prediction is accompanied with estimates that devices will climb up from 340 million units in 2013 to 700 million units in 2017, while the global mobile commerce market will climb from USD $116.1 billion in 2014 to USD $467.3 billion in 2019. These figures strongly indicate the region’s vast mobile commerce potential as more and more consumers gain access to online shopping via their mobile devices.
Mobile Commerce – This Season’s Must-Have
This mobile commerce explosion has impacted multiple industries but one particular industry riding on the mobile shopping wave is fashion retail. With clothes shopping traditionally seen as a physical shopping experience occurring in a brick-and-mortar store, buying clothes online almost seems contradictory to the notion of “try before you buy”. But end consumers love the greater convenience that mobile shopping offers. Consumers today are digitally savvy and crave immediacy, with many spending significant amounts of time on their mobile devices.
According to SPeCommerce research, one of its key fashion retail clients revealed that from January to December 2014, an average of 16% to 30% of traffic for its regional sites (Indonesia, Malaysia, Thailand, Singapore and the Philippines) came from mobile devices. In January and February 2015, another client, a leading apparel retailer in the region, saw 63% of its traffic coming from mobile and tablet, from the Singapore market alone. In Australia, the same retailer saw more than half (53%) of its traffic coming from mobile and tablet during the same time period. Singapore-based online fashion retailer Zalora also revealed a mobile-centric audience, with 45% of its sales coming completely from both its mobile app and mobile site.
Creating Great Mobile Moments
As mobile commerce continues to grow in Asia Pacific, brands and retailers must continually engage and excite their consumers. Here are some key ways of keeping mobile consumers interested:
How SingPost eCommerce can help
SingPost eCommerce is a full service eCommerce enabler that provides global brands with Asia Pacific’s first end-to-end managed eCommerce solution. Through our work with major brands and retailers, we understand that this region is multi-faced and dynamic with changing consumer behavior and needs. To effectively reach out to the end consumer, brands need an eCommerce solutions partner that has in-depth knowledge of the region and is able to provide a flexible and scalable technology and logistics ecosystem. Backed by cutting edge eCommerce technology, we develop best in class online shopping platforms that provide your customers with a seamless and superior shopping experience across devices through responsive web store designs.