eCommerce Opportunities in Asia: Insights from Experts

According to Statista, eCommerce sales are projected to reach US$2.139bn in 2023, with an annual growth rate (CAGR 2023-2027) of 6.86%, resulting in a projected market volume of US$2,789bn by 2027. 

However, in order to succeed in the Asian eCommerce market, it is crucial for Australian organisations to stay up-to-date on consumer trends, choose the right eCommerce platform, and be smart with how they build their online brand. 

To help Australian organisations navigate these challenges, a webinar hosted by Asialink Business and supported by Alibaba and ScoutAsia (by Nikkei & Financial Times) was held featuring a panel of experts in the field of eCommerce in Asia. The panel included Sachvinder Singh, Director at Handshakes Technology; Pier Smulders, General Manager Australia & New Zealand for the Alibaba Group; Carolyn Heath, Chief Customer Officer for Anagenics; Azam Kassim, Founder & Director of Hab Shifa, Australia; and Hans-Peter Ressel (HP), Founder & CEO of Momentum Commerce. 

Key takeaways from the webinar included: 

• The eCommerce landscape in Southeast Asia is highly competitive, with a small number of platforms dominating the market. 

• To protect your brand in Asia, it is important to register your trademark, specifically in Chinese and in the appropriate class. 

• Thorough research and a well-crafted pricing strategy are essential for success. A clear go-to-market strategy is also important. 

• Unless your Australian brand has a global presence, you cannot rely on brand recognition to drive sales in the Asian market – investing in building your brand is crucial for success.  

• It's important to understand the data, conduct consumer testing before going to market, and talk to as many people as possible. Remember that the process can be long.