As e-commerce continues to grow, it is fundamentally changing the face of retail. It has already influenced how many products and services are being sold, from clothes, packaged goods and seafood to hotel bookings, music files and taxi services.
Because of this, companies of all sizes in all sectors cannot afford to ignore this channel, which is the focus of the upcoming Asian e-Tailing Summit, being organised by the Hong Kong government’s HKTDC. It is aimed at e-commerce professionals, retailers, industry leaders, service providers and users, as well as brand owners and suppliers, online marketplaces and platforms, wholesalers and distributors.
As social networks proliferate and supply chains improve, more and more people are buying from foreign online shops. E-commerce Foundation figures show that more than 300 million consumers worldwide are now buying from merchants outside their own immediate jurisdiction, and Euromonitor International says this number is expected to increase to nearly one billion by 2020.
On the move
Other research shows that the total value of purchases made by cross-border online consumers is growing at the rate of 28 per cent a year and is set to reach US$1 trillion by 2020, and much of this shopping is being done on the move by smartphone. As well as searching for products or services, smartphone users can easily compare product specs and prices, download coupons and make online purchases all in one go.
Overall, m-commerce has been a game changer, making it a necessity for merchants to have a mobile-optimised website or app. Ideally, every retailer should offer omni-channel options, and also be aware of social-media opportunities.
In China, meanwhile, billions of shops now accept payments via Alipay and/or WeChat Pay. On the international front, Apple Pay, Google Wallet and Tap & Go have also swelled the number of digital wallets available. Improved and safer e-wallet technology has been a key factor in optimising the O2O buying experience.
An overview of this fast-growing side or retail will be offered at the Asian e-Tailing Summit, at the Hong Kong Convention and Exhibition Centre, on December 6, with speakers representing such companies as eBay, Fung Global Retail and Technology, Gartner, KPMG, Lazada, Macy’s China, PayPal, Sephora, Suning and Zalora.
It launches with a plenary session that looks at the impact of rising digital consumption on the world economy.
There will be two breakout sessions following the plenary. The first examines worldwide procurement for cross-border e-commerce, while the other looks at the social-commerce movement as an omnichannel priority.
Two concurrent workshops wind up the event. The first offers practical tips on cross-border e-commerce, while the other covers best practice in e-commerce.