Insights into online shopping behaviour in emerging markets are explored in CDNetworks and Planet Retail’s new report: Internationalisation of the Online Retailer.
The report effectively accesses emerging e-commerce and m-commerce market and highlights the importance of internet speed for online retailers when entering emerging markets, in particular BRIC countries – Brazil, Russia, India and China.
The past decade has seen selling online jump up the priority list of nearly all domestic and multinational retailers worldwide. This has been led by a technological revolution that means consumers now expect to shop anytime and anywhere. Understanding the needs of the online shopper has thus become essential to a retailer’s success, especially in fast growing economies, such as China and India. For retailers looking to enter emerging online markets, having a localised and tailored website is important, but not enough. To truly win with shoppers, retailers must focus on improving website speed and user experience on all devices, including mobile.
The report looks in depth at the encouragers and discouragers of online spend in emerging markets. For instance almost 25% of survey respondents in China and India stated they would be more likely to shop online if they had faster internet access. In India, 53% of shoppers said ‘speed of internet’ is ‘extremely important’ to their shopping experience. When making a purchase, more than 50% of shoppers in China, Brazil, and Russia prioritise quick and easy to use websites and checkouts over slower harder to use sites. The report provides retailers with insight into these specific markets and tips on how to ensure they maximise their revenue potential.
Sharon Bell, director, marketing, Americas/EMEA at CDNetworks, said: “We decided to work with Planet Retail on this report to help online retailers plan their approach for maximising revenues in emerging markets. CDNetworks retail customers know the value of increasing revenue with faster websites and transactions throughout the world.”