“Exceptional” growth has been reported by eCommerce provider Ascend Commerce in its latest fourth-quarter, as it seeks to draw on its winning strategy in Thailand to expand into new markets.
Part of the Ascend Group, it comprises online stores iTrueMart and WeLoveShopping, which reported 65 per cent more orders for the final quarter of last year.
While seeking to attract new customers through brand partnerships, Ascend Commerce reported an average of 14,000 orders a day, with a peak of 30,000 orders in a single day. There were also repeat sales among as much as 50 per cent of its customer base.
“With our category-by-category approach proven in Thailand, we are now expanding throughout Southeast Asia,” says Ascend Group CEO Punnamas Vichitkulwongsa. “Based on the strength of the customer response so far, we are confident we will be able to provide access to the same shopping experience that people in urban areas enjoy to improve the standard of living for the millions who live in rural areas.”
While iTrueMart is a business-to-consumer retailer, WeLoveShopping is an online marketplace for small business, entrepreneurs and consumers. Both businesses originally launched in Thailand.
Ascend Commerce invested in its own fulfillment centres last year as a way to retain control over the whole process, from purchase to delivery. Punnamas cites this investment as key to giving customers an excellent experience, resulting in repeat purchases.
At the same time, iTrueMart has been successful in terms of speedy delivery, with 98 per cent of orders being delivered the next day in Bangkok, or within two days for rural addresses.
During the year, iTrueMart also launched in The Philippines.
WeLoveShopping’s orders grew nearly 300 per cent in Q4, with the number of new sellers rising by 1300. The outlet also signed agreements with new brands, helping drive new business.
“In the first days of 2015, we launched with just a few hundred orders per day and we have grown 700 per cent to achieve great results by the end of the year,” says Ascend Commerce GM Seubsakol Sakolsatayadorn.
“We will continue with our strategy of winning on a category-by-category basis. We will introduce a new category only when we are sure of the strength of the product offering.”