Female Consumers Create Untapped Retail Market of $2.4T in Southeast Asia

, ,

Source: e27

Ecommerce will be dominated by female consumer and it’s crucial for companies to fine-tune their marketing strategies if they wish to remain relevant and profitable says Melissa Senduk, Group Creative Director of female-centric ecommerce portal Orami.

In Southeast Asia, women contribute to 80% of all household purchases, out shop men by 20%, and spend 40% more time on online retailers presenting an untapped market of $2.4 trillion US.

“Today, it is the woman in the household who makes a lot of purchase decisions, and this goes beyond traditional categories such as groceries and personal care, and extends to cars, financial services, insurance services and bank products,” said Senduk.

How do you reach her?

Senduk advises ecommerce players not to think about the woman as just an individual, but also the people in her social and family circle as women leverage one another for advice when making purchasing decisions.

Brands also need to focus on the visuals and the UX. Increased smartphone and mobile ecommerce penetration have made it imperative for brands to design the user experience to be mobile-first, as opposed to desktop.

Research finding shows that 80% of women put their trust in blogs and 60% actually purchased the products after reading reviews.

Brands committed to social responsibility, or seek to inspire consumers, would be more appealing to her.

Female consumers are expecting more today

A one-size-fits-all approach no longer works for them. You need to carefully craft your branding and social media message; find out the language female consumers are using and what trends appeal to them.

While all millennial consumers generally are more demanding, the major difference that separates the male and female is women consumers see shopping as a form of entertainment, while men a necessity.

Women consumers are the gatekeepers of the households of today, so it is important for brands to inspire and share the values of women.

A version of this appeared in e27 on June 21. Read the full article here.