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A FedEx survey shows expectations for a surge in holiday sales in the Asia Pacific region
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The survey reveals businesses and consumers in Southeast Asia predict growth in e-market sales to continue in double digits this year
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Expectations are that intra-Asia trade will exceed $13.5 trillion by 2030
A FedEx survey shows expectations for a surge in holiday sales in the Asia Pacific region.
Conducted last month, the survey reveals businesses and consumers in Southeast Asia predicted growth in e-market sales to continue in double digits this year, driven by higher digital adoption and cross border trade.
Expectations are that intra-Asia trade will exceed $13.5 trillion by 2030.
Kawal Preet, president, Asia Pacific, FedEx, said: “In the Asia Pacific region, the gifting season continues in the months leading up to Christmas through Lunar New Year. As cross-border e-commerce continues to surge, e-tailers – particularly small and medium-sized businesses – are gearing up to maximize sales this festive season.”
The online survey was conducted by Milieu Insight across 12 Asia-Pacific markets, including Australia, China, Indonesia, Japan, Malaysia, the Philippines, South Korea, Taiwan, Thailand and Singapore.
The respondents were 200 small and medium enterprises (SMEs) engaged in cross-border e-commerce, as well as 300 consumers who actively shop online.
More than half (57%) of consumers prefer shopping on e-commerce platforms, with 70% motivated by discounts and promotions.
Free delivery plays a big role in shaping the shopping experience and driving purchases. Consumers also expect their orders delivered within two to three business days.
They are also willing to pay a premium for sustainable packaging when buying gifts.
The FedEx survey found that to drive sales, SMEs must tap into e-commerce platforms.
More than four-fifths, or 87%, of SMEs leverage third party e-commerce platforms to broaden customer reach and enhance sales.
Special shopping events like Double Eleven, Black Friday, Cyber Monday and the like play a key role in driving consumer engagement during the holiday season, according to the survey.
A full 70% were motivated to buy because of discounts and promotions.
Such innovations as live streaming for sales and product demonstrations, alongside robust social media promotions have greatly helped e-tailers.
The survey also found that SMEs consider reliable shipping, competitive pricing, and digital tools are crucial in meeting global shipping needs during the current period.
FedEx said its comprehensive e-commerce solutions supports e-tailers streamline order fulfillment. The company has integrated its Ship Manager platform to allow Asia Pacific e-tailers to create shipments and manage paperwork directly from their online orders.
The survey also found that 65% of respondents indicated that free shipping options motivate them to buy.
Late deliveries remain a significant concern.
Recognizing the importance of last-mile delivery, FedEx now has a network of some 260,000 lockers across Asia Pacific.
The company has likewise crafted digital tools like FedEx Delivery Manager International and Picture of Proof Delivery to assure consumers that their orders have been delivered to their doorsteps.
READ: FedEx contributes $85B to world’s net economic output in 2024
