eTail Asia 2022: Here’s what went down at Asia’s largest e-retail summit
Being the world’s largest e-commerce marketplace, Asia is simply a region we can’t ignore. Despite the wide diversity among economies, the region continues to grow rapidly in its e-commerce sector. Considering how much has evolved over the last two years amidst the pandemic, hosting the region’s leading summit for retail e-commerce and digital marketing innovators to welcome the opening of most economies is only a timely move.
eTail Asia 2022, after a two-year hiatus, returned to Singapore earlier this month, with a three-day summit. Dubbed as Asia’s leading summit for the e-commerce sectors, over 400 retailers have joined in the summit, networking and collaborating with industry leaders, as they share tips, insights and experience on maneuvering their businesses during and post-pandemic.
Speakers and attendees including leading industry analysts as well as C-level executives from some of the biggest brands in the world discussed top technology trends that are transforming the retail space. There were also sharing of insights on the ‘Buy Now Pay Later’ trend that has taken the region by a storm, especially since the pandemic.
Among the many topics discussed, Southeast Asia’s (SEA) market prominence was most spoken about. Experts shared how SEA is leading the digital transformation in Asia Pacific, and how it is set to leapfrog China to become the fastest-growing digital economy in APAC. In fact, according to data shared during eTail Asia, e-commerce sales in SEA will total US$89.67 billion in 2022, an increase of US$15.31 billion from 2021.
By next year, the region will cross the US$100 billion mark, a long way from the US$37.22 billion seen in 2019. Industry players, during the summit, even discussed ways to maintain momentum after unprecedented growth in recent times, and what took center stage in most transformation topics is the role of stores post-Covid. Marketers shared a common agreement that adapting omni-channel strategies would result in maximum customer impact.
A number of luxury brand experts even took the stage to share how they brought their brand to life online, creating memorable virtual and in-store interactions through digital innovations. Most importantly, experts share insights on the best practices to drive sustainable environmental and social practices that support the economic growth of their business.
In fact, sustainability has become a watchword and even consumers are increasingly embracing social causes, seeking out brands that align with their values. Therefore, purchasing habits are shifting into a new alignment. Realizing this, retailers admit the need to reframe their position on sustainability, attuning their approach to the new hybrid lifestyles of consumers.
Among others, Sephora Digital SEA regional director of mobile commerce Lorenzo Peracchione in a testimony of the summit, reckons that “eTail Asia helps you keep up to speed with the ever changing technological landscape and better tailor your offers to the evolving needs of today’s omnichannel customers.”
eTail, launched in 1999, has been dedicated to supporting the growth of the retail industry ever since. Just for the summit, they conduct six months of in-depth research, more than any other retail summit, co-creating an agenda that’s tailored specifically towards Asian retailers’ current opportunities and concerns.
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