A report by APAC research firm ClickInsights said around 8 in 10 SEA online shoppers said that website security and positive user reviews are among the most important considerations when deciding where to buy online. Surprisingly, only around one in three SEA consumers consider loyalty rewards to be an important factor in choosing an online shopping destination.
The State of Online Consumer Behaviour in Southeast Asia report produced by ClickInsights in partnership with Magento Commerce is based on a survey of more than 1,000 consumers in Southeast Asia. Respondents are from Singapore, Malaysia, Thailand, the Philippines, Vietnam and Indonesia, representing the majority of the region's population.
The results aim at offering an overview of regional trends from three perspectives:
- Consumer online shopping behaviour
- A comparison of the online habits of the new generation of GenZ consumers aged between 16 and 22, against Millennials (aged 23 to 37)
- A cross-sectional view of consumer online shopping behaviour in six distinct SEA markets - Indonesia, Malaysia, Singapore, Thailand, the Philippines and Vietnam.
This research finds that, Millennials spend more money online and buy online more frequently than GenZs. Across Southeast Asia (SEA), Millennial consumers are more likely to shop online every week (34 percent) than GenZ consumers (16 percent). Millennials are also more likely to have spent the equivalent of USUSD 100 online in 2019 for every major consumer goods category.
Both GenZs and Millennials find influencers helpful across many product categories and especially clothing and beauty products as well as travel destinations.
E-wallets are taking off in the region. Millennials across the region are flocking to e-wallets. In that age group, almost 7 in 10 Indonesians, Vietnamese and Malaysians use them for online shopping. E-wallets are popular because they are easier to use than other forms of payments and consumers appreciate the discounts and incentives, they get for using them.
ClickInsights Founder & Managing Director, Jefrey Gomez, said, "At the start of the year, 75 percent of Millennials and 63 percent of GenZs anticipated spending more money online in 2020, which was a great news for companies that had invested in their online presence in SEA over the years. With the current state of events caused by the COVID-19 virus where more people are staying home and choosing to make purchases online in order to practice social distancing, ecommerce businesses have the opportunity to increase acquisition even more during this period."
"SEA has all the fundamentals in place to weather the current market turbulence and position for ecommerce growth over the next five years," said Nicholas Kontopoulos, Regional Head of APAC Commercial Marketing, Adobe. "The regional population is young and growing, both the GenZ and the Millennials said that they spent more online in 2019 than the year before and expect to spend even more in 2020."