ecommerceIQ, together with Sasin SEC, created the Leadership Ecommerce Accelerator Program (LEAP) to provide the fundamental knowledge and skills needed to successfully run an ecommerce business in the world’s fastest growing market.
Ecommerce, as the name suggests, is the process of buying and selling a product over the internet. The ability to shop online is not confined to only laptops and PCs, but more and more, being conducted on smartphones and tablets in developing regions.
Opportunity is where the people are; in Thailand alone, mobile social users make up 42 million out of the country’s total 68.22 million population making the smartphone an important channel for retail companies.
The sixth week of LEAP looked at the potential of mobile commerce, introduced the fundamentals of app marketing, and illustrated how an omni-channel strategy is possible in even Thailand’s oldest, highly reputable, retail players – Central Group.
1. Three Mega Trends of a Mobile-Driven Economy
NATHANIA CHRISTY, TRENDWATCHING INSIGHTS & COMMUNITY LEAD APAC
Brands often ask, “what do customers want next?”, the truth is that many of them don’t really know what they want.
Instead of watching customer behavior for trends, it’s better to watch innovative businesses.
According to TrendWatching, brands must create something that serves the basic needs of humans as well be aware of how these needs will evolve. This is how to achieve what Nathania calls the “sweet spot”.
She discussed three mega trends during her lecture and how businesses can integrate them into core products:
1. Helpfull – contextualizing a brand’s omni-presence to serve convenience-oriented consumers. It does not have to be online or involve with sophisticated technology.
Example: In Indonesia, government officials employ WhatsApp to allow Indonesians to schedule appointments with government agencies. Effectiveness does not require fancy technology, your goal can be achieved as long as it answers a basic need – convenience.
2. Infolust – information is everywhere, today’s consumers want to be informed in real-time.
Example: Japanese supermarket “U” proves that its produce is fresh by launching an official Snapchat account and filming the journey of its fish through “Stories”.
3. Joyning – there are various types of connections made possible through a mobile-driven society:
- Instant Encounters are about making direct, face-to-face contact to create relationships
- Middlemen Removal becomes the new business model where intermediary is eliminated and in return, brands are able to produce goods of better quality and price
- Digital Detox is much needed as more consumers are glued to their phones and less people are connecting in real life
- Mass Mingling offers an activity for consumers to get together and do meaningful things in groups
Example: KLM Royal Dutch Airlines brought strangers together during Christmas time by preparing a Christmas feast that was only accessible if every seat around the dinner table was filled. Take a look at the heart-warming application of Mass Mingling by KLM here.
Want more mega trends? We’ve shared the TrendWatching deck here.
2. App Installs Do Not Translate into Success
JONAH KADISH, APPSFLYER CUSTOMER SUCCESS MANAGER
For brands that offer a mobile application, getting consumers to install the app may be a main objective but it doesn’t guarantee success.
Why? Because consumers uninstall applications all the time. Thailand has a 34% rate of uninstalls for Android app users.
So how can brands measure app success? Rather than focus on driving installs, focus on in-app events. They include:
App usage – Is it frequent within a week?
Session length – Is it long enough to make a purchase?
3. The Importance of Omni-Channel in the View of Central Group
BHUMSARAN (TOP) AMTHONG, CENTRAL ONLINE SVP HEAD OF COMMERCIAL
As the world of commerce evolves, so does a customer’s’ expectation.
Selling goods is no longer defined by the famous 4Ps (Product, Price, Place and Promotion) but rather the experience that consumers are expecting to get. Khun Bhumsaran shares a private case study regarding Topshop’s success moving into an omni-channel strategy.
The next class is on Thursday October 19th and will take a look at logistics and fulfillment, from industry leaders include Lazada and Pomelo. Stay tuned for next week’s takeaways!