The
Asia-Pacific region is set to become the leading region for e-commerce around
the world, led by countries such as China, India, Japan and South Korea,
according to analyst firm Frost & Sullivan.
Is your IT up to it?
Unfortunately,
the IT infrastructure of businesses are not necessarily up to scratch, and the
slow loading of Web pages is one of the main reasons why customers switch
e-commerce company, says the firm.
This was
outlined in a new report produced in collaboration with a content delivery
network (CDN) provider. While it offers suggestions on the selection of a CDN
service, the report also outlined some noteworthy pointers on the importance of
fast loading websites.
The
report pointed to a recent study in which 47% of consumers surveyed said they
expected the Web site to load within 2 seconds. Another 40% stated that they
would leave if it did not load within 3 seconds.
In
addition, another study inferred that close to 60% of ASEAN consumers would
look for an alternative place to purchase a product if the Web site failed to
load on time.
If your
business entails selling online, then it is worth knowing that there are
already more than a million online retailers in ASEAN, or Association of
Southeast Asian Nations. The pie is skewed towards the bigger players at the
moment, though, with the top 20% of e-commerce retailers provide 63% of the
total revenue.
Finally,
up to 30% of e-commerce sales globally is attributed to mobile and smartphone
devices alone. In a similar vein, mobile payments is expected to account for
more than 10% of total payment transactions in Asia-Pacific by 2020 with
emerging countries showing higher growth.
"With
factors such as growing Internet penetration, faster Internet services, [Wi-Fi
hotspots] and mobile 4G, customers will value convenience and the ability to
make faster purchase over the discounts and deals offered by e-commerce
players," said Ajay Sunder, the vice president of ICT at Frost &
Sullivan, Asia Pacific.
In
conclusion, while the responsibility for e-commerce systems and support for
mobility typically resides with the IT department, marketers can take a hit if
these systems perform poorly.
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