11street sees potential for online marketing
KUCHING: In a recent survey conducted by Celcom Planet Sdn Bhd’s (Celcom) online open marketplace, 11street, its findings revealed that e-commerce trends for 2017 included, increased online transactions, fin- tech usage, exploration into new product categories, express deliveries, and improvements in customer service experiences.
It has been three years since online marketing industry players ventured onto Malaysian shores, and thus far they have been warmly received by both consumers and business owners alike.
The nationwide survey, delved deep into the psyches of online shoppers to understand their sentiments with regards to ecommerce.
Through this survey, 11street took the opportunity to set the tone for the e-commerce industry moving forward, and projected the five key trends that would lead the way for online shoppers.
These trends will also serve as leverage for businesses to strategise their marketing plans, in order to adhere to consumer wants and how to go beyond expectations in terms of customer service and product delivery.
The first key trend in ecommerce identified by 11street is that online shopping would be the way forward in 2017.
“Constant connectivity to the Internet and a multi-screen world are changing the way consumers see online shopping.
“The distinction between digital and in-store journey is blurred, and so spurs brick- and-mortar retailers to consider integrating e-commerce and m-commerce into their existing business plans,” said the online shopping mall.
While it is foreseeable that consumers are not completely abandoning physical stores anytime soon, the survey indicated that existing online shoppers would continue to buy more frequently, while non-online shoppers would start to explore e-commerce in the next 12 months.
This prediction is based on survey results in which 85 per cent of respondents who have never shopped online before, indicated an interest participating in online shopping in the next 12 months.
11street conjectures that this high interest in non-online shopper is likely a by-product of competitive pricing of online products, and satisfaction expressed by existing online shoppers.
“With this revelation, the barrier between online and non- online shoppers will be further brought down, thus cementing online shopping as the way forward for consumers come 2017,” said 11street.
The increasing trend in fin-tech usage is set to continue in 2017 as 90 per cent of consumers who responded in the survey have indicated that they are open to the idea of opting for non-cash payment methods.
“This means that businesses must up their game and offer multiple payment options, in a move to increase sales through the improvement of customer convenience. With more non-cash payment methods such as credit card and debit cards, and online bank transfer, businesses must take the necessary measures to ensure that these transactions are secure, so that consumers continue to gain confidence in their online payments,” explained 11street.
The entire e-commerce industry is set to benefit from this as businesses with an online arm will continue to thrive when they offer more payment options for their customers, while consumers who are exposed to a myriad of payment methods get the option to choose their preferred channel.
Ad di t i o n a l l y, on li n e marketplaces would be encouraged to impose a more stringent payment monitoring system, resulting in safer online transactions for all consumers.
On customers’ preferences, there seems to be a push in customer preferences for the scope of online products offered to widen beyond our traditional electronics and clothing categories.
Survey respondents have revealed categories such as home décor and furniture, household goods and groceries, and health foods and supplements to be top priority categories that they are eager to explore in 2017.
“As consumers gain familiarity with online shopping and with increased logistics coverage and affordability, it is envisioned that consumers will begin shopping for daily essentials, fresh produce and personal items onl ine, thanks to the easy accessibility of shopping apps that enable the easy browsing and purchasing right off their smartphones,” predicted 11street.
Sequentially, this is also reflective of the exponential growth within the logistics industry as they struggle to keep up with the rigorous and growing demands of online shopping.
Time in particular seems to be a key factor that consumers are pleading for, as 90 per cent of survey respondents indicated they would only be willing to wait up to one week for delivery of their purchases, while another 60 per cent of them state that they would be willing to pay an extra charge of up to RM10 for express delivery.
11street maintains that this finding will be a key setting trend for express delivery moving forward, as consumer are now expecting faster delivery at more affordable prices.
“Established couriers should take note of these advances and adapt their services to keep up with the technological advances in order to continue keeping their customers happy by offering better services and faster deliver,” advised 11street.
Finally, the last trend that 11street has identified is an increased expectation for better customer service experiences from consumers in e-commerce transactions. While consumers will also be drawn to shop online due to its many cost- savings benefits, customer service quality, positive product reviews, and many more factors involved in a wholesome customer service experience is what will keep consumers as coming back for more.
“Therefore moving forward, sellers will have to step up their game and go the extra mile to deliver better services by familiarising themselves with the processes of managing growing sales volume, rising expectations on logistics, and delivering impeccable customer service.
“The e- commerce industry goes beyond a mere shopping experience – it is a shopping revolution,” concluded the online shopping mall giant.
Constant connectivity to the Internet and a multi-screen world are changing the way consumers see online shopping. 11street