That urban Indians can’t spare much time for leisure is well-known. Now, they don’t have enough time to shop either. According to a study, an average urban Indian spends just six days in a year on shopping. At other times, it is alternate retail that swoops in to help.
Taiwan's main trade promotion body and its counterpart in South Korea will cooperate on e-commerce marketing, as both countries place importance in the fast growing online market. The Taiwan External Trade Development Council and the Korea International Trade Association will sign a cooperation pact today, agreeing to form an on-line alliance by setting up a specially designated web page on Taiwantrade.com.tw and Tradekorea.com, respectively.
Online shoppers in four Asian countries - Taiwan, Indonesia, Thailand and Malaysia - are not too happy with their purchases.
A survey conducted by Tokyo-based Rakuten Inc. showed that a high 78 percent of the 2,000 respondents had regrets about their purchase in the past 12 months.
In an interview with Retail in Asia and RetailTech, Shin Hasegawa, Rakuten's Vice Chief Marketing Officer, affirmed that it is an alarming rate considering that e-commerce is booming across the region and more retailers are rolling out their e-commerce strategies.
China's largest home appliance retailer, Suning Commerce Group, yesterday signed partnership deals with dozens of vendors as it shifts its focus to serving independent sellers and hopes to attain CNY1 trillion (USD161.3 billion) in sales turnover by 2020.
"We hope to build Suning into an open platform that covers all categories and we want to attract as many vendors as possible," said Sun Weimin, vice chairman of Suning.
Six-year-old Flipkart, the country’s most prominent e-commerce player was started as an online bookstore in 2007. It has often come under scrutiny for being dismissive about ‘profitability’ and unmindful of the high cost of running an inventory-led business, aided by deep discounts and free shipping. Much of that seems to be changing now, a shift already yielding results.
Indian e-commerce, pegged at USD9.5 billion last year (including online travel bookings) according to a study by the Internet & Mobile Association of India and KPMG, would be a force that would take on physical retail head on, possibly forcing the closure of many brick-and-mortar stores.
That the market stood at just USD3.8 billion in 2009 and is projected to grow to USD12.6, according to the study, by the end of this year shows the potential in this space.
PChome Online, a major online shopping platform in Taiwan, is set to start B2C online shopping services in the Japan market by the end of 2013, according to company chairman Jan Hung-tze.
An interesting transformation is taking place in China's e-commerce world, as traditional retailer Suning becomes the latest major player to launch an open platform where independent merchants can sell their wares.
Rakuten Inc., controlled by billionaire Hiroshi Mikitani, said it has agreed to buy streaming video service provider Viki Inc. as the internet retailer seeks to expand into new digital offerings.
The companies see opportunities for Viki to boost revenue by selling more advertising against its video content, they said in a statement on Monday. The acquisition helps Rakuten in its goal to gain more visibility and reach overseas users, Hiroshi Naya, an analyst at Ichiyoshi Research, said on Tuesday.
Even though e-retail in India accounts for a miniscule 0.1 per cent of the total retail sales, as against 8 percent in the US, this segment is poised to grow at twice the pace with which the traditional domestic retail sector is growing.