Offering a deep dive into the evolving Southeast Asian e-commerce landscape, leading global MarTech and customer engagement company, Netcore Cloud has released its comprehensive report, “Ecommerce Mindscape SEA 2024.” Featuring insights from key industry players such as Puma, Senheng, Zalora, Kanmo, Vietjet Air, Photobook, and Pomelo, the report provides a roadmap for businesses to thrive in this rapidly growing market, projected to reach $180 billion by 2025.
As Southeast Asia’s e-commerce sector witnesses exponential growth, the report highlights how marketers leverage Generative AI (Gen AI), hyper-personalisation, and seamless cross-channel integration to meet the evolving needs of digitally savvy consumers. The region’s unique urban-rural divide is being bridged by rising mobile penetration, diverse payment methods, and the increasing dominance of mobile apps.
Key insights from the report:
- TikTok Shops dominate, but Instagram and WhatsApp Shops are fast gaining ground, with close to 90% of consumers praising their shopping convenience.
- Consumers in SEA demand personalised shopping journeys powered by Gen AI, focusing on swift product discovery, relevant recommendations, and minimal marketing intrusions,
- 70% of CEOs plan to increase investments in Gen AI to boost personalisation, predictive analytics, and customer journey optimisation,
- 93% of consumers find online shopping too complicated with excessive steps.
Saket Kumar Jha, Chief Revenue Officer – Emerging Markets at Netcore Cloud, commented on the report’s findings, “As the Southeast Asian e-commerce market grows, personalisation and innovation remain critical for brands aiming to differentiate themselves. Gen AI is at the forefront of this transformation, empowering brands to create more immersive, tailored consumer experiences. This report outlines essential strategies for marketers to stay competitive and capture the opportunities presented by this dynamic market.”
The report emphasises that retention and repeat purchases are key to sustained profitability, particularly as customer acquisition costs (CACs) rise across the region. Brands are encouraged to invest in Gen AI-powered Customer Data Platforms (CDPs) and Customer Relationship Management (CRM) tools to improve engagement and enhance customer loyalty.
