Faster pace of growth for online spending

KUALA LUMPUR: Online spending in South-East Asia is expected to grow three times faster than the growth of digital consumers by 2025, with clothing and personal care emerging as two of the leading categories, according to a study by Facebook and Bain & Company.

The study revealed that more online spending in the region would be driven mainly by increasing choice, better Internet access and rising affluence.

“Brands, therefore, need to be very savvy and re-imagine their marketing and trade spend to be in sync with the ever-evolving omnichannel consumer journey.

“Brands that want to win in this omnichannel channel need to understand what consumers are looking for in their category, work to solve needs and pain points, and customise loyalty to differentiate themselves, all while delivering with consistency, ” a partner in Bain & Company Singapore, Gwendolyn Lim, told reporters after at a presentation of the study.

Omnichannel refers to a retail line that integrates with the different methods of shopping available to consumers. — Bernama

Source: TheStar