Visa Reveals Internet Power in APAC

by CXOtoday Staff    Nov 21, 2008

The Internet is proving as appealing a shopping destination as the likes of shopping centers in Tsim Sha Tsui in Hong Kong or Orchard Road in Singapore. According to a Visa e-Commerce Tracking Survey, nearly 80 %of Internet users surveyed in Asia Pacific say they made an online transaction and spent an average of over $ 3,000 each in the past 12 months.

The top three draws for shopping online were being able to shop at any time (88%), at the best prices (83%), and being able to shop easily (82%). According to the respondents, their most commonly made online purchases were digital entertainment (59%), travel (51%) and fashion (49%).

Among the wide range of products and services available on the Internet, Asia Pacific online shoppers surveyed reported that they spent the most on travel services with an average spending of $ 812 in the last 12 months. Travel items included airline and rail tickets, hotel accommodation and travel packages.

In India, purchasing digital downloads was the most popular form of consumer e-commerce. 76 % of respondents from India (the highest in Asia Pacific) have bought a form of digital entertainment over the Internet in the last 12 months. Music downloads (63 %) emerged as the most popular digital entertainment purchase.

Mohamad Hafidz, regional head, (e-commerce, Asia Pacific) of Visa said, “Nearly a quarter of the world’s population - roughly 1.4 billion people - used the Internet on a regular basis in 2008 and in Asia Pacific, on average, a person spent about 20.2 hours a month online. Our own survey has revealed online consumers in Asia Pacific recognize the convenience of online shopping as reflected in the high % of Internet users who buy a wide range of products, from that for everyday use to the occasional high-value item online.”

In the region, Japanese and Koreans surveyed emerged as the most frequent shoppers, with 99% and 93% respectively having made an online purchase over the last 12 months. However, Australians were the biggest online spenders with an average 12-month tab of $4,160.

The Internet has also brought about an increase in the number of cross-border transactions with 75 % of Internet users surveyed in Hong Kong having bought an item from an overseas website in the preceding 12 months.

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