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PayPal Study Reveals 2011 As Blockbuster Year for Mobile Commerce in Singapore

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Singapore mobile shopping market grew more than 660 per cent to S$328m in 2011
SINGAPORE, May 17, 2012 /PRNewswire-Asia/ — The “PayPal Online and Mobile Shopping Insights 2011” study revealed that 2011 proved to be a landmark year for mobile commerce in Singapore fuelled by a rise in the number of mobile shoppers and a dramatic increase in spend per head. The mobile commerce market in Singapore saw phenomenal growth from S$43 million in 2010 to S$328 million in 2011, representing more than a 660 per cent jump in just one year. The mobile commerce market is also forecasted to grow ten-fold to reach S$3.1 billion in 2015. This shows that mobile commerce is now mainstream and will play an increasingly significant role in the overall commerce market as Internet-enabled mobile devices become a key part of Singaporeans’ daily lives.

(Photo: http://www.prnasia.com/sa/2012/05/17/20120517155636505391.html )
(Photo: http://www.prnasia.com/sa/2012/05/17/20120517155515617625.html )

The results of the mobile commerce study are staggering and show just how quickly shopping and paying on mobile devices has taken off in Singapore. Mobile shopping comprised about a quarter (23%) of all online shopping in 2011, nearly six times its share (4%) of the online shopping market in 2010. Mobile shoppers constituted close to half (48%) of all online shoppers in 2011, compared to about one in three (29%) in 2010. The median spend per head for mobile shoppers increased from S$93 in 2010 to S$354 in 2011. There were 880,792 Singaporeans who made a purchase through a mobile device in 2011, compared to 364,390 in the previous year.

“As we had predicted, 2011 was a blockbuster year for mobile commerce in Singapore. Retailers are waking up to the fact that they need to offer ‘anytime anywhere’ mobile shopping experiences for their customers. At PayPal, we are offering safer, faster mobile payments in as little as two clicks to Singaporean consumers that use our digital wallet, while bringing new mobile payment innovation to Singapore such as our QR code shopping at selected MRT stations,§ said Elias Ghanem, managing director, PayPal Southeast Asia and India.

In addition to the overall growth of the mobile commerce market, the survey also showed how mobile shopping behavior is changing, from the differences between smartphone and tablet shopping to new forms of mobile shopping such as scanning QR codes.

Smartphones leading mobile commerce but tablet owners spending more

The study revealed that the majority (75%) of purchases made using mobile devices were via smartphones. Singaporeans spent S$244 million through their smartphones in 2011 – representing close to three-quarters of the total mobile commerce market – compared to S$82 million through tablets. However, the average spend per head on tablets was S$380, significantly higher than the average spend per head on smartphones, which amounted to S$274 suggesting a growing market and potential for mobile shopping via web-enabled tablets.

With an eye on future mobile shopping trends, the survey asked consumers what they would like to purchase via their smartphones. Almost a quarter of mobile shoppers indicated a desire to purchase fashion items, airline and movie tickets on-the-go with their smartphones indicating there is room for growth and that retailers have the opportunity to provide multi-channel shopping experiences in these categories.

Those who shopped on their tablets exhibited a different set of preferences. Tablet users indicated they would like to purchase automotive goods and computer hardware. This suggests that compared to smartphone users, tablet owners are more likely to purchase higher ticket items on their devices due to the tablet’s larger screen size.

The survey findings revealed a clear trend in couch commerce with four out of every ten purchases on both tablets and smartphones made at home. The office was the next common place to shop (18% of smartphone users and 11% of tablet users). Mobile shopping while commuting via bus or train or in transit was yet another preferred place for transactions (13% of smartphone users and 11% of tablet users).

The top spending categories for mobile shopping are listed in the graph below. Mobile shopping is much broader than just digital downloads with “fashion and accessories” and “movie tickets” seen as hot favorites for both smartphone and tablet shoppers.

QR codes enable 24 by 7 mobile shopping and blur the lines between online and offline commerce

Smartphones are increasingly bridging the gap between the online and offline retail worlds. The study revealed that Quick Response (QR) codes are gaining popularity among Singapore smartphone shoppers. Four out of every ten smartphone users were aware of QR codes, and of those who were aware, 45 per cent had used QR codes for an average of eight transactions in 2011.

The most common items purchased through QR codes were books, fashion items and computer hardware. Curiosity (33%) combined with ease-of-use (21%) were cited as the main drivers of QR code usage. QR codes provide retailers the benefit of launching virtual pop-up stores across all channels and media and enable 24 by 7 mobile shopping to complement brick-and-mortar store locations.

PayPal’s QR code campaign with SMRT from February till April this year enabled an average of 500 transactions per 10,000 scans by Singaporean commuters, equivalent to a 5 per cent customer conversion rate, which is higher than the average direct email response rate of 1.7 per cent (Note 2). Showbiz Asia saw huge mobile sales success by offering one-for-one tickets for award winning show WICKED to Singaporean commuters via this QR code campaign, resulting in close to five times increase in mobile ticket sales through PayPal as compared to sales for the same period pre-campaign.

Security concerns and lack of user-friendliness present mobile shopping barriers for consumers

While Singaporean consumers are increasing their mobile commerce spend exponentially, security concerns and the lack of user-friendliness were indicated as the main barriers towards greater adoption. The research highlighted that 40 per cent of all mobile shoppers felt that mobile transactions were not safe enough. Other barriers to further adoption of smartphones for mobile shopping included “screen size is too small§ and “Internet speed is slow.§

Research Methodology

Commissioned by PayPal, The Nielsen Company conducted the online research study “PayPal Online and Mobile Shopping Insights 2011” to develop a greater understanding of the mobile commerce market and the habits of Singaporean mobile shoppers in 2011. The research (Note 3), which was conducted online, surveyed a representative sample of 1009 Singaporean online shoppers aged 18 and above, of which mobile shoppers (Note 1) constituted 482 respondents.

Note:

1. Mobile shoppers are defined as those who shopped or made online purchases using smart phones and/or web-enabled tablets for this study.
2. According to Response Rate Trend Report 2010 by Direct Marketing Association (DMA). It refers to a 1.73 per cent customer conversion rates for emails to a house list.
3. Unless stated otherwise, all data provided in this press release is from the “PayPal Online and Mobile Shopping Insights 2011” study.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), debit cards and credit cards in various markets. PayPal is an eBay company and enables global e-commerce with more than 110 million active accounts in 190 markets and 25 currencies around the world. More information about the company can be found at https://www.paypal.com.sg.

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

Media Contacts

Malini Mitra
PayPal, Singapore
T: +65-6590-5543
E: mamitra@paypal.com

Bridget Kow
The Hoffman Agency
T: +65-6361-0250
E: bkow@hoffman.com

SOURCE﹛Paypal

Written by asiafreshnews

May 18, 2012 at 12:37 pm

Posted in Uncategorized

PayPal Enables Singaporean Businesses To Profit From Mobile Commerce Boom

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Mobile-optimizedcheckout and websites result in six-fold increase in mobile transaction value in 2011

SINGAPORE, May 17, 2012 /PRNewswire-Asia/ — PayPal today unveiled two easy-to-use mobile commerce solutions for mobile-optimized checkout and mobile shopping websites, so that businesses of all sizes in Singapore can capitalize on the exponential growth of mobile shopping from S$328 million in 2011 to S$3.1 billion in 2015 (Note 1). With over 1.4 million smartphones sold in Singapore in 2011 (Note 2) and nearly half of all online shoppers making a purchase on their mobile devices last year (Note 3), Singaporean shoppers are driving a fundamental change in the retail commerce market by choosing to shop and pay using their smartphones anytime, anywhere. Businesses need to adapt to this changing consumer shopping behaviour and PayPal offers innovative solutions to increase mobile conversion, lift mobile sales and deepen engagement with mobile shoppers.

(Photo: http://www.prnasia.com/sa/2012/05/17/20120517154905466816.html )

PayPal is a global leader in mobile payments and is expected to process US$7 billion in mobile payment volume this year. In 2011, the company processed over US$4 billion in global mobile payment volume which represented a five-fold jump in mobile payments as compared to the previous year (US$750 million in 2010). PayPal currently has over 17 million global customers regularly making purchases through their mobile devices.

“Mobile commerce is one of the fastest-growing trends in the retail market today as mobile devices are changing the way consumers shop and pay every day,” said Rahul Shinghal, Director, PayPal Mobile Asia Pacific. “PayPal is aggressively driving this change by streamlining the payment process in as little as two clicks on web-enabled mobile devices for millions of consumers and businesses across the world. The time is right for Singapore’s retail industry to go multichannel by offering mobile-optimized checkout and mobile shopping websites to take advantage of this major change in consumer shopping behavior.”

Simpler, faster mobile payment experience for all merchants that accept PayPal

Businesses need to offer consumers a streamlined mobile payment experience to truly capitalize on the booming mobile commerce trend in Singapore. According to a recent PayPal survey, nearly two-thirds of mobile shoppers in Singapore had previously stopped a mobile transaction because of the hassle of entering their financial details, such as 16-digit credit card numbers, on a small screen. However, merchants in Singapore and across the Asia Pacific region that have used PayPal’s mobile-optimized checkout solutions have seen a six-fold increase in mobile transaction value in 2011. PayPal’s mobile-optimized checkout solutions allow consumers to pay faster in as little as two clicks on smartphones and do not store any sensitive financial details on the mobile device.

To enable more Singaporean businesses to increase their sales through mobile devices, PayPal is announcing its “PayPal Mobile Payments Standard” solution which automatically provides all merchants that accept PayPal on their website today with a mobile payment checkout experience optimized for mobile devices, including iPhone, iPad, iPod and Android devices. PayPal detects when customers are using their mobile device for the payment process and redirects them to a mobile-optimized payment page, even if the merchant’s website is not optimized for mobile devices yet. If the merchant currently has PayPal on their website, then the mobile optimized payment checkout experience is available to their customers without any additional integration work. For a new merchant, they simply integrate PayPal into their website to get all the benefits of a mobile-optimized payment checkout solution for customers making purchases on mobile devices.

Mobile optimized sites lead to higher conversion, sales and engagement with customers

While a mobile optimized payment checkout experience can help to increase mobile sales, the ultimate mobile commerce solution for businesses is to offer a website optimized for mobile devices. Businesses that do not have a mobile friendly version of their website risk losing customers who become increasingly frustrated with the poor shopping experience on their smartphones. Google data shows that 3 out of 4 Singaporean businesses do not have mobile friendly websites, but PayPal aims to fix this situation.

Today, PayPal is piloting its “Mobile Commerce in a Box” solution in Singapore to help businesses build mobile-optimized websites by converting their online stores into a mobile friendly interface – all in under an hour and at no additional cost to the merchant. The mobile-optimized site will have larger product photos, buttons, links and text to make it much easier to browse and shop on a mobile device, while still providing mobile-optimized checkout in as little as two clicks.

Businesses will benefit from lower bounce rates, increased browsing time, higher conversion rates and ultimately increased mobile sales. To use this mobile commerce solution, PayPal merchants who use ZenCart or osCommerce shopping carts can download, install and use the free PayPal Mobile Store Plugin which will convert their existing online store into a fully operational mobile optimized store.

Andy Shea from BestOfferBuy.com said, “Initial results of our mobile friendly website are very encouraging as they show that PayPal is helping drive significantly higher conversion and increased engagement with mobile shoppers. PayPal’s Mobile Commerce in a Box solution was simple to use and best of all it’s a free plugin for my website. It’s a great offering from PayPal and helps a small business like us quickly adapt to the growing trend of more Singaporeans shopping and paying on their smartphones.”

Singaporean businesses with an existing online store can register their interest for PayPal’s Mobile Commerce in a Box solution at https://www.paypal-apac.com/minabox.

Note:

1. PayPal Online and Mobile Shopping Insights 2011
2. GfK Asia 2012
3. PayPal Online and Mobile Shopping Insights 2011

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), debit cards and credit cards in various markets. PayPal is an eBay company and enables global e-commerce with more than 110 million active accounts in 190 markets and 25 currencies around the world. More information about the company can be found at https://www.paypal.com.sg.

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

Media Contacts

Malini Mitra
PayPal, Singapore
T: +65-6590-5543
E: mamitra@paypal.com

Bridget Kow
The Hoffman Agency
T: +65-6361-0250
E: bkow@hoffman.com

SOURCE﹛PayPal

Written by asiafreshnews

May 18, 2012 at 12:20 pm

Posted in Uncategorized

Goodman Further Expands into China Securing Build-to-Suit Facility for Online Retailer, Moonbasa and New Land Acquisition

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HONG KONG, May 16, 2012 /PRNewswire-Asia/ — Goodman Group (Goodman or Group), the integrated property group which owns, develops and manages industrial space, is pleased to announce that it is expanding into Tianjin with the signing of a build-to-suit facility at Wuqing for major online retailer, Moonbasa. The Group has separately acquired a plot of land in the Tianjin Beichen District.

In an official signing ceremony held in Tianjin Wuqing today, Goodman has committed to develop two warehouses comprising a total of 42,410 sqm for Moonbasa, which will be the online retailer’s first build-to-suit facility and its northern China headquarters.

Founded in 2006, Moonbasa is an online ladies fashion and accessory retailer based in China. Having experienced rapid growth over the past few years, it is now ranked among the top e-commerce retailers in the country. Moonbasa is owned by Mola Internet Technology Co. Ltd., one of the biggest B2C e-commerce corporations in China.

Philip Pearce, Managing Director Greater China for Goodman, said, “We are very pleased to be expanding our footprint into northern China and are confident that we will deliver a prime facility for Moonbasa in Wuqing.”

Mr Pearce added, “Tianjin is a key area of focus for us because of its strategic location as the major port city and the gateway to the Bohai Bay region.  Its efficient infrastructure is able to support a booming logistics industry, which has resulted in a well-established manufacturing base, robust domestic demand and trade activity from Beijing.  This obviously generates significant demand for high-quality warehousing space, which Goodman can supply.”

Wei Pingbo, Deputy General Manager from Moonbasa said, “As a leading corporation in the e-tailing market in China, e-fulfilment is a very important part of our business. Like many of our peers, we face a number of challenges in finding high-quality warehousing space, which makes it crucial for us to have a reliable partner like Goodman to provide the perfect solution that helps improve our operational efficiency, reduce cost and enhance our customer service.”

In a separate transaction, Goodman has secured 27 hectares of land in Beichen Tianjin. Situated in Landport Logistics Park, northeast of Beichen District, the site is ideally located between Beijing and Tianjin.

Goodman plans to build eight single-storey warehouses in several phases on this land. The first phase of the development, comprising three warehouses with a combined 59,000 sqm of lettable space, is expected to commence in July 2012 and is scheduled for completion in May 2013.

Mr Pearce said, “We see huge growth potential in this port city, and it is our strategy to build a significant presence here. Currently, we are in the final stages of acquiring several plots of land in Tianjin as the city will become a major investment focus for the Group.”

Mr Greg Goodman, Goodman’s Group Chief Executive Officer said, “We are very pleased to welcome Moonbasa to our customer portfolio. Our footprint in China is expanding rapidly and we now have in excess of 4 million sqm of land available, including land secured and under negotiation. With over 400,000 sqm of developments in progress and a 600,000 sqm development target for the next 12 months, we have land in the key strategic locations and the customer demand to facilitate development of over 1 million sqm of space.”

For further information, please contact: Goodman Besy Leung Marketing Director, Asia Tel: +852-2249-3149/+852-6111-9452   Citigate Dewe Rogerson    Charlotte Bilney Co-Managing Director Tel: +852-3103-0103/+852-9314-3463

Jasmine Yap Co-Managing Director Tel: +852-3103-0108/+852-9325-3363

Source: Goodman Group

Related stocks: Australia:GMG

Written by asiafreshnews

May 18, 2012 at 9:51 am