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Sunday, December 25, 2016

11st : E-Commerce Market Trends for 2016 & 2017

2016 has been an exciting year for online marketeers, with the online shopping industry winning the hearts of many consumers. As the e-commerce sphere continues to thrive this serves as a great time to start thinking about how the industry is going to evolve in 2017.

In a recent nationwide survey, 11street dived deep into the psyches of online shoppers to understand their sentiments with regard to e-commerce. Through this survey, 11street took the opportunity to set the tone for the e-commerce industry moving forward, and projected five key trends that will lead the way for online shoppers. These very trends also serve as a leverage for businesses to strategise their marketing plans, in order to adhere to what consumers want and how to go beyond expectations in terms of customer service and product delivery.

1.) 2016 Trends.

1.1.) Market overview
  • 83% of survey respondents have shopped online
  • Men above 36 years old shop 1.51x more than their female counterpart in the same age group



1.2.) Future potentials with Malaysian non-online shoppers - Will likely be shopping online in the next 12 months ?
  • East Malaysia consumers are 2.6x more likely than those in Peninsula Malaysia
  • Men are 2x more likely than women
  • Married respondents are 2x more likely than singles

1.3.) Behaviours and how far they have come ?
  • 59% shop online at least once a month or more frequently
  • 80% shop on their smartphones
  • 54% prefer to pay via online transfer

1.4.) Top 3 most purchased categories in 2016
  • Fashion & beauty
  • Electronics
  • Sports & hobbies

1.5.) Top 3 categories that people are likely to explore in 2017
  • Home deco & furniture
  • Household & groceries
  • Health & supplements

1.6.) Fun Facts
  • 48% of fashionstas are young and single female
  • In every purchaser of electronics in East Malaysia there are 5 in Peninsular Malaysia
  • Men are 3x more likely to buy kds & baby items online - if income is above RM 7,000
  • Peninsular Malaysian men buy 3x more than women; Easy Malaysian women buy 1.74x ore than men
  • 6.6x of women who earn less than RM 3,000 are more like to buy automotive, compared to women earn more than RM 3,000

1.7.) Consumer Experience & Expectations
  • 95% of current shoppers are satisfied

1.8.) Expectation on Product Delivery
  • 90% of line shoppers today are willing to wait a maximum of 1 week for their purchases to arrive, while 46% expects them within only 3 days.

2.) Online shopping trends in 2017
  • Online shopping is the way forward
  • Payment methods will continue to mushroom
  • Consumers are willing to explore more product categories - including home decor, grocery & household items and health & supplements
  • Express delivery will be the norm
  • Value added services are equally important as price

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