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Expansion into the Asian e-Commerce Market Challenging Despite High Growth Expectations: NTT Communications Survey
|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
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
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
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
for further information.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140714005392/en/
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