With China, Japan and South Korea accounting for 40% of the value of the global e-commerce market, it is imperative that regional and global players learn to navigate these markets to drive growth in the region. There is no universal approach, but learnings from East Asia’s advanced and competitive e-commerce markets provide strong inputs to formulate winning strategies, in East Asia or beyond.
In challenging economic times, industries continue to look for enhanced productivity, cost reduction and new growth paths, as technological development is an essential tool. This technology has gained momentum due to several potential uses, such as process automation, data analysis, customer service personalisation and online fraud detection.
After meteoric growth during the pandemic, the third-party delivery market continued to normalise in 2023, leading to the emergence of new business models. This article explores the evolving industry landscape by reviewing leading players' responses to the inflationary crisis, consumers' revived routines, government scrutiny, and intensified competition.
Digital Living is among the largest megatrends driving consumer behaviour, second behind only Convenience. To quantify the impact of Digital Living and other megatrends on consumers, Euromonitor International has created a quantification model to assess the impact of these long-term trends.
The development of embedded finance not only eases the customer journey throughout the retail funnel, which helps reduce purchase abandonment, but it also plays a critical role in driving digital transformation across channels.
At last year's ShopTalk event, the buzz was all about generative AI and its potential to enhance company performance and consumer experience. This year, brands and retailers, having gained some experience, are sharing their key takeaways from leveraging various AI solutions. The ups and downs in the industry have already provided valuable learning experiences, shedding light on the practical impacts of AI integration.