“It’s no longer a convenience to buy online, it has become a necessity; this necessity is going to become a behavioral pattern. I can guarantee you, people don’t change behaviors. Once they get rewarded for it or they start realizing that it’s working for them“
SHARMIN PHOTOGRAPHER – HEAD OF ASIA, SUUNTO
APAC e-commerce landscape is dominated by a few players and the most important ones are the Chinese homegrown platforms, Alibaba Group and JD.com, which represent 1,4 Billion active users over the 1,9B in the APAC region. (Alibaba represent 950 Million alone, JD has 352M, Amazon, 200M, Rakuten 111M, Tokopedia, 90M, Lazada, 50M, Naver has 42M, and Zalora, 26M). “On e-commerce platforms, consumers traditionally purchase lifestyle products, premium products, consumer electronics. Since the lockdown started in China, and APAC soon after, there’s been a purchasing boom on these platforms“
The wearable industry is a massive market in the APAC region where the sports wearable market plays an important role. (Details per country at 11”34).
“In the sport industry, apps have become a very integral part of the ecosystem that is evolving now worldwide. In the entire sports app market, 315 Million consumers come from China. That’s a massive whopping number in today’s world with the COVID-19 situation. How we can leverage these apps will become even more powerful and interesting“
“In 2019, the wearable market grew by 89%, but with the covid situation, 2020 predictions are that the market will only grow by 9%. Indeed the supply chain of this market is mainly supported by China. We are still going to have some serious headwinds to deal with. And that’s why it becomes even more critical how we spend our money”.
“On the wearable market, more consumer are looking for smart products. In the online context, the ‘smart’ word is going to play heavily in our strategy because the devices became smarter, and retail shopping is going to take a big chunk of the market” (Details about wearable market forecasts from 18”10 to 20”10)
Asian e-commerce platforms such as Lazada for instance understood these consumer crisis needs… “Platforms have moved their attention to what a consumer is actually asking whether it’s masks, sanitizers or food products (…) Lazada is now inviting SMEs to come and sell online encouraging them to come at the forefront where consumers can avail their products without charging.”
“ As a brand that is more digital, it is actually the perfect time to accelerate consumer acceptance of the digital world. Consumers are not going to walk into the physical space so fast, so look at the options available to create awareness and conversion online. It’s priceless because during the next 90 days, you won’t need to split your investment between online and offline channel.”
>More detail about consumer journey : 51”12→ 53”20