The pandemic has forced businesses and consumers to go digital. In Southeast Asia alone, one-third of ecommerce was generated by new shoppers, with 80 percent of them intending to keep shopping online. Collectively, digital commerce sales for the Asia Pacific region is expected to hit USD 2T by 2025, presenting an enormous opportunity and significant shift in how people shop [1].
As a network of networks, Visa has a broad perspective on how commerce is evolving in the region. Expectations for digital commerce have evolved rapidly, and new shopping behaviours that were adopted during the pandemic are here to stay.
This is creating a new paradigm for businesses, financial institutions, payment networks and other service providers – all of whom aspire to deliver on consumers’ new expectations for a great commerce experience. Today, many businesses find it challenging to retain consumer engagement, and connect their customer-facing platforms with back-end operations to maximise sales conversions and efficiencies.
Here’s what Visa’s Digital Commerce Roadmap in Asia Pacific will cover:
- Consumers’ expectations when it comes to a superior digital commerce experience and how clients can meet those needs
- Future-looking trends on how, where and what consumers are buying
- How businesses are conducting inter and intra business operations in an increasingly digital world
- How Visa can help in the journey towards the next horizon of digital commerce
Click HERE for the full report.
[1] Source: Google x Temasek SEA 2020 Report
