Online Browsing and
Sales Before and During Lunar New Year Continues to Grow; Personalise
Engagement to Capture the Season’s eCommerce Opportunity
Sales Before and During Lunar New Year Continues to Grow; Personalise
Engagement to Capture the Season’s eCommerce Opportunity
- eCommerce sales
spiked by 188 percent 11 days before the first day of Lunar New Year in
2016. - 68 percent increase
in online transactions before and during Lunar New Year in 2016, up from
the 40 percent increase during the same period in 2015. - Easy navigation and
shorter checkout processes on mobile sites and applications, and
multi-channel integration key to improving retail sales before, during and
after Lunar New Year in 2017.
Singapore – 25
January 2017 – Criteo (NASDAQ: CRTO),
the performance marketing technology company, today released seasonal data from
2016, in anticipation of Lunar New Year, to help retail businesses better
engage consumers during the festive season. The company’s deep-dive into
consumer browsing and buying activity revealed that in the two weeks before and
after the first day of Lunar New Year, consumers browsed and purchased retail
products more actively than before – an 81 percent increase in online
visitors to eCommerce sites and a 68 percent increase in eCommerce sales.
January 2017 – Criteo (NASDAQ: CRTO),
the performance marketing technology company, today released seasonal data from
2016, in anticipation of Lunar New Year, to help retail businesses better
engage consumers during the festive season. The company’s deep-dive into
consumer browsing and buying activity revealed that in the two weeks before and
after the first day of Lunar New Year, consumers browsed and purchased retail
products more actively than before – an 81 percent increase in online
visitors to eCommerce sites and a 68 percent increase in eCommerce sales.
The findings are based
on an analysis of 65 million online transactions in Hong Kong, Singapore and
Taiwan before, during and after Lunar New Year in 2016.
on an analysis of 65 million online transactions in Hong Kong, Singapore and
Taiwan before, during and after Lunar New Year in 2016.
Mobile devices
involved in all aspects of eCommerce during Lunar New Year:
involved in all aspects of eCommerce during Lunar New Year:
- 32 percent of all eCommerce transactions happened
on a mobile device. - More than 6 in 10 consumers browsed on a
combination of PCs and mobile devices, before making a final purchase on
either device. - Online purchases of apparel and jewellery increased
by 57 percent and 62 percent respectively. - Online retailers who used Criteo’s cross-device
and in-app retargeting solutions to optimise their online advertising
campaigns across PCs and mobile devices generated a 129 percent increase
in revenue.
“Consumers have come
to expect exclusive online collections and discounts during this period, timing
their purchases so they have the best deals and new clothes or jewellery to
symbolise the new beginning. They also tend to continue shopping indoors and online
throughout all 15 days of Lunar New Year. Given the fluid nature of online
shopping behaviour and intense competition, retailers must use advanced
technology that delivers personalised engagement, based on each consumer’s
buying habits, expressed interests and online surfing history to leverage this
opportunity,” said Yvonne Chang, Executive Managing Director, Asia-Pacific,
Criteo.
to expect exclusive online collections and discounts during this period, timing
their purchases so they have the best deals and new clothes or jewellery to
symbolise the new beginning. They also tend to continue shopping indoors and online
throughout all 15 days of Lunar New Year. Given the fluid nature of online
shopping behaviour and intense competition, retailers must use advanced
technology that delivers personalised engagement, based on each consumer’s
buying habits, expressed interests and online surfing history to leverage this
opportunity,” said Yvonne Chang, Executive Managing Director, Asia-Pacific,
Criteo.
Criteo shares two
additional trends that will also impact regional retailers during the Lunar New
Year season.
additional trends that will also impact regional retailers during the Lunar New
Year season.
Consumers will use
mobile to make high-value purchases: Desktops were once the
king of big-ticket purchases, but in 2017, consumers in Hong Kong, Singapore
and Taiwan will feel equally comfortable purchasing expensive items on
smartphones. The Average Order Value (AOV) on mobile applications was 27
percent higher than desktops in Q2 2016. The AOV on mobile browsers was only 9
percent lower than desktop during the same period[1].
mobile to make high-value purchases: Desktops were once the
king of big-ticket purchases, but in 2017, consumers in Hong Kong, Singapore
and Taiwan will feel equally comfortable purchasing expensive items on
smartphones. The Average Order Value (AOV) on mobile applications was 27
percent higher than desktops in Q2 2016. The AOV on mobile browsers was only 9
percent lower than desktop during the same period[1].
Retailers will see a
high web influence on offline sales: Shoppers in Hong Kong,
Singapore and Taiwan are becoming experts at “showrooming” – the phenomenon of
looking at items at a brick-and-mortar store whilst checking the prices
available online. In Singapore, while in physical stores, 62 percent of local
shoppers are browsing similar products online and comparing prices to ensure
they get the best deals2. 69 of these consumers end up purchasing
the same product or service online rather than offline[2]. In Hong Kong and
Taiwan, 32 percent and 47 percent of consumers are looking to make purchases
online, rather than offline[3].
high web influence on offline sales: Shoppers in Hong Kong,
Singapore and Taiwan are becoming experts at “showrooming” – the phenomenon of
looking at items at a brick-and-mortar store whilst checking the prices
available online. In Singapore, while in physical stores, 62 percent of local
shoppers are browsing similar products online and comparing prices to ensure
they get the best deals2. 69 of these consumers end up purchasing
the same product or service online rather than offline[2]. In Hong Kong and
Taiwan, 32 percent and 47 percent of consumers are looking to make purchases
online, rather than offline[3].
“Luxury clothing,
jewellery and furniture are some of the big-ticket purchases consumers are now
starting to make online before and during Lunar New Year. With mobile devices
now the primary channel for consumer interactions, security, easy navigation
and a shorter checkout process on mobile sites and applications will encourage
consumers to complete more big-ticket shopping journeys. To avoid losing out to
their online counterparts during this season and beyond, offline retailers
looking to retain and convert customers must start integrating online channels
– mobile optimised sites or applications, and consider Customer Relationship
Management (CRM) data optimisation, to engage customers before, during and
after store visits,” said Chang.
jewellery and furniture are some of the big-ticket purchases consumers are now
starting to make online before and during Lunar New Year. With mobile devices
now the primary channel for consumer interactions, security, easy navigation
and a shorter checkout process on mobile sites and applications will encourage
consumers to complete more big-ticket shopping journeys. To avoid losing out to
their online counterparts during this season and beyond, offline retailers
looking to retain and convert customers must start integrating online channels
– mobile optimised sites or applications, and consider Customer Relationship
Management (CRM) data optimisation, to engage customers before, during and
after store visits,” said Chang.
Click here to download the
high-resolution version of Criteo’s ‘Lunar New Year Shopping Season’
infographic.
high-resolution version of Criteo’s ‘Lunar New Year Shopping Season’
infographic.
[1] Criteo. 1H 2016 State of Mobile Commerce Report. 2016.
[2] Edelman Intelligence. Singapore Consumers Online Shopping Survey. September 2016.
[3] Google. Consumer Barometer. 2016.
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