For Customers Every Second Counts; Are E-Tailers Listening?
A research by Frost & Sullivan shows that the slow loading time of Web pages is one of the main reasons why customers move from one e-Commerce company to another. Even a delay of a single second creates customer dissatisfaction and pushes the customer to choose another e-Commerce player to meet their needs.
The study shows that e-Commerce is rapidly growing in countries such as China, India, Japan and South Korea, making Asia-Pacific region a vibrant market for e-Commerce globally. By 2018, this region is expected to generate sales of US$1,892 billion regionally and US$3,015 globally. Countries such as Malaysia and Philippines are witnessing the strongest growth while China and Korea will command the highest sales through e-Commerce as found in a recent Frost & Sullivan study.
However, this rapidly evolving landscape is beset with its own set of challenges, the major one being IT infrastructure. In a recent White Paper, e-Commerce Retailers - The Next Billion Dollar Opportunity - Are We Ready? the study highlights, to maintain high Web performance at all times, e-Commerce players should invest in efficient and reliable infrastructure.
Can CDN solve the issue?
The whitepaper talks about the One of the most successful solutions in the market today is Content Delivery Network or CDN solution, which can provide seamless customer experience that is cost-effective, fast, reliable and efficient. Top e-Commerce companies globally use various technologies and solutions to provide a fast and reliable shopping experience for their customers, irrespective of the device used, the research report said.
The key drivers for e-Commerce growth include the expanding middle class population, changing consumption and purchasing patterns. In addition, one other emerging areas is mobile payments, which will account for more than 10% of total payment transactions in Asia-Pacific by 2020 with emerging countries showing higher growth.
“With factors such as growing Internet penetration, faster Internet services, home/commercial Wi-Fi networks, availability of hotspots and mobile 4G, customers will value convenience and the ability to make faster purchase over the discounts and deals offered by e-Commerce players,” noted Ajay Sunder, Vice President, ICT, Frost & Sullivan, Asia Pacific.
The rapidly evolving business landscape has also proved conducive for cross-border e-Commerce especially in the Asia Pacific region, which is one of the key drivers for regional growth. However, cross-border complexities have also become one of the biggest challenges facing the industry.In a recent study, 47% of consumers surveyed mentioned that they expected the Web site to load within 2 seconds and 40% stated that they would leave if it did not load within 3 seconds.
Another study inferred that close to 60% of ASEAN consumers would look for an alternative place to purchase a product if the Web site failed to load on time. This translates to tremendous loss in revenues for e-Commerce retailers.The most suitable choice to address the issue of latency with regard to Web performance at low operational costs is the use of global CDN that provides an unparalleled end-user experience by accelerating the Web performance, which includes dynamic content.
- 10% Investment In Telecom To Add 3.3% Of India’s GDP: BIF
- What’s Driving India’s B2B E-Commerce Market?
- Can 5G Wave Save The Dwindling Global Smartphone Market In 2019?
- 5 Game Changing Technologies In E-Commerce
- Trend Micro Helps Motilal Oswal Secure Its IT Infrastructure
- 5G Key Takeaways for Mobile Operators
- Naukri.com's Amardeep Vishwakarma Joins Shine.com As CTO
- It's Digital All The Way For Retail CIOs
- RPA, Automation Tools Are Future For Retailers, Says GlobalData
- Retailers Should Chant The Personalization Mantra To Stay Afloat