facebook-social commerce

Here’s what you need to know for today.

1. Mobile payments boom in China, spend a lot in Singapore & Thailand

Alipay hit record highs in 2016 for the amount its 450 million users spent online or in stores. Shoppers in Shanghai paid out an average $20,400 last year and spent 1.5 times more than in 2015. The new trove of data comes weeks after the app hit a record high of 1 billion transactions in a single day.

Read the rest of the story here.

eIQ thinks: With Alipay getting a lot of traction in Southeast Asia, especially in Thailand and Singapore (major malls & airports), it will be interesting to see the apps integration with Ascend Money in Thailand. Although China’s 195 million mobile wallet users far outweigh Thailand’s, the merge will bring more cross-border opportunities to the landscape.


2. Alibaba Tracker: Eye on the 2020s

Alibaba is set on making China a country filled with “smart cities”, whilst simultaneously eyeing expansion in international markets.

China’s 13th five year plan (2016-2020) for national economic and social development has set goals to move ahead on the construction of smart cities. Alibaba Group has also announced its role and goals for facilitating a smart nation. Ant Financial reported that it had teamed up with 352 cities in 25 provinces with plans to construct credit systems and public mobile services.

Other Chinese giants such as Tencent and Baidu are also reportedly involved in the building of smart nations.

Read the rest of the story here.


3. Facebook eyes revenue growth opportunities in Asia-Pacific

Opportunities in the Asia-Pacific region where more than 30% of online commerce takes place through social media. The report from Bain & Co cites that Facebook can benefit from the growing use of social media in Southeast Asia as over 30% of ecommerce in the region takes place through social media platforms versus 7% in the US.

Facebook has 629 million monthly active users in its Asia-Pacific region. It’s a good bet most of those users are on either Messenger or WhatsApp as well.

eMarketer estimates that Facebook’s ad revenues will grow to $33.76 billion in 2017.

Read the rest of the story here.

eIQ thinks: With over 50% of Thailand’s ecommerce transactions contributed to social commerce, it’ll be interesting to see if WhatsApp will gain popularity over LINE if/when Facebook doubles down on the region to strengthen commerce on its platform.

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