Most recently, ASEAN economic ministers signed an e-commerce agreement at the ASEAN summit 2018, to reaffirm the region’s commitment to facilitate cross-border e-commerce transactions. The agreement aims to create an environment of trust and confidence in the use of e-commerce as well as strengthen cooperation in intensifying the use of e-commerce in the region.
According to Singapore Trade and Industry Minister Chan Chun Sing, the ASEAN Economic Community looks to prepare the community and its people for a more “uncertain” time and an era of digital transformation. Chan said that the agreement will “encourage” the use of paperless trading between governments and businesses, according to Channel NewsAsia. He added that this can generate “rapid and efficient” transactions in ASEAN, and that businesses will be able to access and move data across borders “easily”.
Diane Yap (pictured), head of marketing at AXA, and a judge at Marketing's inaugural eCommerce awards, shares her view of the industry.
Marketing: What is your perspective of the e-commerce industry now?
With increasing convenience, internet and smart phones penetration, the e-commerce industry continues to grow exponentially. Coupled with changing customer behaviour – an increasing reliance and preference on online options, online activities are now a part of and a habit of most consumers.
Marketing: How have you witnessed the e-commerce industry evolve over the past few years?
Industry players extended into new categories and enhances their customer value proposition through improved customer experiences supported by improved logistics and infrastructure. Social media now plays an even more important role to drive traffic to e-commerce sites. There is also increased adoption of digital technologies such as AR and facial recognition.
Marketing: What comes to mind when you think of e-commerce excellence?
Sustainable model (whether it is pure online or online and offline complementing each other), good sales results, innovation and excellent customer experience.
Marketing: What qualities will you be looking out for in the entries for Marketing’s Asia eCommerce awards?
Innovation, data led strategies and excellent customer experience.
Marketing: Why do you think recognising e-commerce players is important to the industry?
Recognition is definitely important! It sets the bar and benchmark for the others in the industry and to thrive for improvements. It is also good learning and sharing amongst industry players.
For more information regarding the awards and tips, please contact:
Danny R, Project Manager
M: +65 9858 1007 T: +65 6423 0329
Hazran Daing, Project Manager
M: +65 91869324 T: +65 6423 0329