WEEKLY WISDOM
“A person who feels appreciated will always do more than is expected.”
8 Emerging E-commerce Markets We Need to Take More Seriously
The rapid increase in internet access in developing nations has opened up new shopping opportunities for citizens – and new market opportunities for brands and retailers.
New technology and services are facilitating cross-border shopping and online payments – even for the ‘unbanked’. The expansion of Amazon and Alibaba into many of these markets, along with the development of local platforms is helping to drive sales.
Global e-commerce is estimated to reach $6,388 billion by 2024. While the traditional big consumer markets will still account for bulk of e-commerce sales, markets including India, Brazil, Poland and others that are less obvious, are starting to flex their buying power.
Driven by fast year-on-year growth, emerging markets could play a more significant role in total sales for many brands.
8 Key Emerging Markets; Market size and e-commerce volumes
Everyone’s gearing up for the launch of China’s Singles’ Day event, which could reveal a lot about the level of consumer demand.
E-COMMERCE
JD (China) is kicking off its Singles’ Day pre-sale on Oct 27. The 5-day event will be followed by the ‘official sales period’, starting on Oct 31. The final grand event will begin on Nov 10 at 8 pm.
- Over 400 million new products and over 700 million domestic goods that incorporate Chinese traditional style and culture will be launched during the shopping spree.
- JD is partnering with Dada, a delivery service and retail platform, to provide fast delivery services of high-quality products from stores within 3-5 km from customers’ homes.
Alibaba (China) said this year’s 11.11 Global Shopping Festival will see a record-breaking 290,000 merchants offer more than 14 million deals to Chinese consumers.
allyLikes, a fast-fashion app launched by Alibaba (China) is offering budget priced trendy apparel on par with wildly successful Chinese brand Shein.
- Targeting GenZ consumers in North America and Europe.
- 500 new arrivals each week, leveraging Alibaba’s massive data of bestselling styles.
- The brand relies on influencers to drive sales.
PODCAST
An Insider’s Guide to Successfully Digitizing Your Business
In this episode of A Seat at The Table, digital transformation expert Sunny Han talks about:
- The importance of re-evaluating your company’s data architecture before ditigitizing your operations.
- The overlooked benefits of being able to make faster decisions.
- The role that API’s are playing in boosting the capabilities of software systems.
- Why by digitising you’re not simply implementing software, but are trying to evolve your operations.
MARKETS
Supporting SpendingIndia is on track to overtake China as the world’s fastest-growing major economy next year, according to World Bank projections.Signals of Possible Slowdown Ahead
- The Federal Reserve tapering off stimulus support, but many consumers saved enough during the pandemic to fuel continued spending.
- Wages and benefits for frontline workers are surging as companies compete for staff.
- University of Michigan Consumer Sentiment index inched up in September to its March 2020 pandemic low – after dropping in August to the worst level since 2012.
- The Conference Board’s Consumer Confidence Index fell to 109.3 in September following decreases in July and August.
- So far 33 startups have become unicorns this year (compared to a total of 40 Indian unicorns from 2011-2020.
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