Black Friday & Cyber Monday 2014 – Key Learnings For Asia Pacific

Black Friday & Cyber Monday 2014 – Key Learnings For Asia Pacific

Introduction Every year, the first Friday after Thanksgiving marks the popular shopping day known as Black Friday, where retailers compete with one another to offer the best discounts and customers do the same to claim coveted deals in-store. Black Friday has since evolved, moving into the online space to cater to increasing eCommerce growth. This has also led to Cyber Monday’s popularity (first launched in 2005), the equivalent of Black Friday but focused purely on eCommerce. According to a report by IBM in 2014, Cyber Monday remained the busiest day for online shopping over the five day period (Thanksgiving to Cyber Monday) in the US. In 2014, Cyber Monday saw overall online sales jump by 8.5%. Mobile sales, which account for 22% of all Cyber Monday sales, also increased by 27.6% compared to figures in 2013. While Thanksgiving is traditionally celebrated in the US, the spread of Black Friday and Cyber Monday have gone far beyond the US market. In a 2013 report by eCoupons.com, Black Friday and Cyber Monday shoppers from outside the US market also began increasing in 2013, accounting for nearly USD $125 million or 5% of total sales figures. Asia Pacific is Anything But Cold Turkey Existing sales figures from eCommerce events such as China’s Singles Day are a good indicator of Asia Pacific’s potential for Black Friday and Cyber Monday. On November 11 2014, Singles Day sales hit USD $9.3 billion – that’s bigger than US sales of Thanksgiving through Cyber Monday combined, indicating a massive opportunity for retailers looking to boost sales during this period. Some US retailers like Saks Fifth Avenue, Bloomingdale’s...
Remarketing – A Powerful Tool In Converting Consumers

Remarketing – A Powerful Tool In Converting Consumers

Capturing and converting website visitors is one of the greatest challenges for every eCommerce business. With over 95% of website visitors leaving a site without converting, the odds of making a sale online are pretty low. While usability and conversion rate optimization can improve the situation, a key step to ensuring visitors return to your site and continue their purchasing journey is remarketing or retargeting. Remarketing is a powerful tool, which delivers results by its ability to deliver targeted messages to specific audiences across various media channels. Remarketing allows a company to target users who have previously visited their website, by displaying relevant advertisements across the internet, on sites such as Facebook and Twitter, or when they perform a Google search. Remarketing allows businesses to reconnect with existing and potential customers with specific messages, even after they have left a site. This continued connection helps foster a stronger customer relationship in the long run. Compared to more traditional marketing conversions, conversion rates from remarketed advertisements tend to be significantly higher. Ways to Remarket an eCommerce Website Remarketing for Display Networks – This refers to displaying advertisements to people who have previously visited your website whilst they browse the web. While Google offers the largest display network, there are a number of other display networks available with publishers such as Atlas and Sizmek. Remarketing via Display Networks use banner advertisements which are only shown to visitors who have visited your website but left without making a purchase. These advertisements or banners shown in various places on the site are designed to encourage engagement and click throughs. The destination sites are...
Asia Pacific’s Social Butterfly: Is Indonesia Ready for Social Commerce?

Asia Pacific’s Social Butterfly: Is Indonesia Ready for Social Commerce?

Indonesia’s large internet population and high social media engagement has made it an excellent market for rapid expansion in the social commerce sector. Despite low digital payments penetration and logistical challenges, Indonesia is still poised to expand its eCommerce market through a consumer demographic active on social media and a fast evolving B2B support sector aimed at turning the country into one of the most lucrative digital economies in the Asia Pacific region. Indonesia is quickly transitioning from a vibrant and vocal community of internet users into one of the fastest growing digital economies in Asia. With over 73 million internet users in a country of 250 million people, Indonesia’s internet population size is fourth worldwide after China, India and Japan. This continued adoption of the internet has spread well beyond conventional computer screens as users take to their mobile devices. Smartphone penetration in the country has doubled from 12% to 24% from 2012 to 2013 and is expected to approach the 30% mark by the end of 2014. While Indonesia’s internet penetration of 29% is lower than Asia’s regional average of 33%, the sheer size of the country’s internet population makes it a viable market for online growth. Market research company Statista predicts Indonesia’s internet population to steadily increase to 93.4 million users by 2015, ramping up to over 120 million by 2018. As internet users continue to boom, so will the country’s adoption of online shopping, with sales projected to grow as high as $10 billion USD by 2015, a substantial increase from 2014’s current estimate of $1 to $3 billion USD. Indonesians are also highly connected in...