Study of 2000+ consumers & 300+ marketing executives unveils key trends driving growth in the $180bn Southeast Asian ecommerce market
SINGAPORE, Sept. 18, 2024 /PRNewswire/ -- Offering a deep dive into the evolving Southeast Asian ecommerce landscape, leading global MarTech and customer engagement company, Netcore Cloud has released its comprehensive report, "Ecommerce Mindscape SEA 2024." Featuring insights from key industry players such as Puma, Senheng, Zalora, Kanmo, Vietjet Air, Photobook, and Pomelo, the report provides a roadmap for businesses to thrive in this rapidly growing market, projected to reach $180 billion by 2025.
As Southeast Asia's ecommerce sector witnesses exponential growth, the report highlights how marketers leverage Generative AI (Gen AI), hyper-personalization, and seamless cross-channel integration to meet the evolving needs of digitally savvy consumers. The region's unique urban-rural divide is being bridged by rising mobile penetration, diverse payment methods, and the increasing dominance of mobile apps.
Key insights from the report:
- TikTok Shops dominate, but Instagram and WhatsApp Shops are fast gaining ground, with close to 90% of consumers praising their shopping convenience.
- Consumers in SEA demand personalized shopping journeys powered by Gen AI, focusing on swift product discovery, relevant recommendations, and minimal marketing intrusions,
- 70% of CEOs plan to increase investments in Gen AI to boost personalization, predictive analytics, and customer journey optimization,
- 93% of consumers find online shopping too complicated with excessive steps.
Saket Kumar Jha, Chief Revenue Officer - Emerging Markets at Netcore Cloud, commented on the report's findings: "As the Southeast Asian ecommerce market grows, personalization and innovation remain critical for brands aiming to differentiate themselves. Gen AI is at the forefront of this transformation, empowering brands to create more immersive, tailored consumer experiences. This report outlines essential strategies for marketers to stay competitive and capture the opportunities presented by this dynamic market."
The report emphasizes that retention and repeat purchases are key to sustained profitability, particularly as customer acquisition costs (CACs) rise across the region. Brands are encouraged to invest in Gen AI-powered Customer Data Platforms (CDPs) and Customer Relationship Management (CRM) tools to improve engagement and enhance customer loyalty.
To access the 'Ecommerce Mindscape SEA 2024' report, visit [LINK].
About Netcore Cloud
Netcore Cloud is a bootstrapped SaaS company that helps B2C brands and marketers create AI-powered new-age customer experiences at every touchpoint of a customer's journey. Netcore Cloud's full-stack marketing platform enables highly personalized digital experiences that are easily scalable and provide actionable analytics, real-time reporting, and quick-to-implement solutions across channels. Brands using Netcore Cloud can have a unified view of their customers and optimize their user experience.
Headquartered in Mumbai, India, with 11 offices across the USA, Singapore, Malaysia, Nigeria, Indonesia, UAE, UK, and Germany, Netcore Cloud serves 6500+ customers across the globe. It delivers 35+ bn emails and tracks 100+ billion marketing events every month. Netcore Cloud is a trusted partner across industries with some of the most respected brands like MaxLife Insurance, ICICI Bank, Standard Chartered, Flipkart, Myntra, Miss Amara, Airtel, Disney Hotstar, Canon, Puma, Tobi, EaseMyTrip, PizzaHut and McDonald's. For more information, visit https://netcorecloud.com/
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