|By Business Wire||
|July 14, 2014 03:02 AM EDT||
While over 80 percent of global online merchants plan on expanding their e-Commerce businesses in Asia over the next 12 months, almost all respondents (99 percent) say they face obstacles in gaining a firm foothold in the market, and in particular China, according to research by NTT Communications.
The survey, Breaking into the e-Commerce Market in Asia: Opportunities and Challenges, interviewed 200 United Kingdom and United States based decision-makers from the retail, gaming, travel and hospitality industries to evaluate the business potential of Asia’s e-Commerce market, the challenges merchants face, and the role that payment solution providers should play in helping merchants overcome these challenges.
Two-thirds of respondents forecast the volume of their companies’ e-Commerce transactions in Asia and China to increase by 10 and 50 percent in the next three years, reflecting the promising business potential of the market. However, the study also reveals a number of local challenges that merchants need to overcome to successfully grow in the region.
Other key findings include:
- Over 80 percent of respondents consider global e-Commerce crucial to the success of their businesses.
- Greater China is a high-potential market for e-Commerce. Mainland China (79 percent), Hong Kong (66 percent) and Taiwan (57 percent) top the list as the three most popular Asian destinations for e-Commerce expansion in the next 12 months.
- Challenges most respondents face when delivering e-Commerce in Asia1 include local tax regulations and compliance (50 percent), local market needs (46 percent), language barriers (44 percent), shipping difficulties and cost (42 percent), local preferred payment types (37 percent) and cross-border currency settlement (37 percent).
- Acquirer connections (45 percent) topped the list of key success factors for delivering e-Commerce in Asia and China. This is followed by risk and fraud management (43 percent), global acquirer connections (35 percent), acquirer connections in Asia (30 percent) and alternative payment methods (30 percent).
Payment solution providers integral in helping merchants adapt to unique Asian e-Commerce landscape
Tyrone Lynch, Vice President, eBusiness of NTT Com Asia said, “Asia holds a lot of potential for global e-Commerce merchants and yet their success is being hindered by a lack of local knowledge necessary in overcoming operational challenges, such as currency restrictions, tax regulations, licensing requirements and local payment methods. A payment solution provider with strong local acquiring capabilities is needed to help them navigate the complex and dynamic e-Commerce market of Asia.”
Lynch continues, “China, in particular, is in a unique situation where conventional and mainstream payment methods used internationally are not prevalent. Understanding the unique payment landscape in China, while providing consumers with the ability to pay in their preferred local methods is critical for success in this vast and fast-growing market.
To this end, NTT Communications has introduced its e-Commerce payment solutions aimed at helping e-Commerce companies expand their online presence and mitigate local market challenges.”
To download the report Breaking into the e-Commerce Market in Asia: Opportunities and Challenges visit www.nttcominsight.com
1 Excludes mainland China
NTT Communications commissioned market research firm Vanson Bourne, to conduct research on 200 decision-makers from companies with e-Commerce business within the retail, gaming and travel / hospitality sectors in the United Kingdom and United States of America. To qualify for the research, respondents’ companies must have an annual revenue of US$12 million or more from their e-Commerce operations and have engaged in e-Commerce with Asia and / or China.
About NTT Communications
NTT Communications provides consultancy, architecture, security and cloud services to optimise the information and communications technology (ICT) environments of enterprises. These offerings are backed by the company’s worldwide infrastructure, including leading global tier-1 IP network, Arcstar Universal One™ VPN network reaching 196 countries/regions, and over 150 secure data centers NTT Communications’ solutions leverage the global resources of NTT Group companies including Dimension Data, NTT DOCOMO and NTT DATA.
About NTT Com Asia
NTT Com Asia is NTT Communications’ East Asia headquarters covering Hong Kong, Macao, Taiwan and Korea. The company provides enterprise-class network, data centre, cloud, hosting, e-Commerce solutions, and managed services, and operates its’ wholly owned subsidiary HKNet in Hong Kong.
Please visit www.ntt.com.hk | www.hknet.com | www.facebook.com/nttca | http://www.linkedin.com/company/ntt-com-asia-limited for further information.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Apr. 27, 2017 01:15 AM EDT Reads: 1,467
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Apr. 27, 2017 12:45 AM EDT Reads: 579
Apr. 27, 2017 12:00 AM EDT Reads: 9,115
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 27, 2017 12:00 AM EDT Reads: 700
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Apr. 26, 2017 11:15 PM EDT Reads: 2,250
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 26, 2017 11:15 PM EDT Reads: 1,326
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 26, 2017 11:00 PM EDT Reads: 2,378
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Apr. 26, 2017 10:45 PM EDT Reads: 699
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 26, 2017 10:45 PM EDT Reads: 2,404
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 26, 2017 10:15 PM EDT Reads: 1,977
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 26, 2017 10:00 PM EDT Reads: 1,372
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 26, 2017 09:45 PM EDT Reads: 2,592
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 26, 2017 09:00 PM EDT Reads: 974
Apr. 26, 2017 08:45 PM EDT Reads: 520
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Apr. 26, 2017 08:45 PM EDT Reads: 3,239