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Companies in APAC & India need to invest more in digital ecommerce: Study

A report by global research firm Econsultancy said organisations in the Asia-Pacific and India are still developing their ecommerce platforms in order to drive increased sales with customers.

The State of B2B Ecommerce in ANZ, Southeast Asia and India report, produced by Econsultancy in partnership with Magento, anAdobe company, is based on a survey of more than 500 companies in Australia and New Zealand (ANZ), Southeast Asia and India.
The research looks at the extent to which companies are seizing the B2B ecommerce opportunity, and investing in important capabilities relating to people, processes, technology and data.

This research finds that, on average, for leading companies with a transactional website for B2B sales, 40 per cent of revenues are directly generated through ecommerce. However, the report also found that only a third of respondents (33 per cent) strongly agree that they can ‘personalize the digital experience based on previous interactions with the business’, and a quarter (24 per cent) are still yet to make steps towards personalized products and offers.

Econsultancy Asia Managing Director Jefrey Gomez said the research showed there is significant scope for companies to embrace digital technology further as they seek to acquire, convert and retain customers more effectively.

“With the rise of social media, online catalogues, product marketplaces and other new information sources, digital is now playing a pivotal role in how businesses allocate and direct spend,” Gomez said. “Buyers are increasingly turning to digital media at an early stage in the process of researching a purchase, so many relationships with clients and prospects now begin with a digital interaction.”

The Econsultancy report found that with consumer retail and technology giants raising the bar when it comes to digital interaction and engagement, businesses need to improve their own performance.

“There is a growing need for B2B-focused brands to make more of an impact when it comes to meeting growing expectations for a great customer experience,” said Nicholas Kontopoulos, Regional Head of APAC Marketing, Magento. “Buyers increasingly want the same quality of digital engagement that they get from the likes of Amazon, Lazada and Alibaba.”

The report found that Customer Service is the area most likely to have been successfully integrated with ecommerce operations, with two-thirds (66 per cent) of respondents saying this is the case. More than half say that there has been successful ecommerce integration withemail (56 per cent), CRM/Sales (56 per cent), Order Management Systems (54 per cent) and Business Intelligence (52 per cent).