By Techwire Asia
Digital retail underlies a good e-Commerce experience for customers. This is especially important for online retailers now, given how online shopping is one of the most popular pastimes of people living in a highly digitized world.
As the pandemic continues migrating people online at an aggressive pace, the adoption of omnichannel shopping and fulfillment is seeing increasing adoption by both consumers and retailers alike.
This is apparent in Southeast Asia, where research has revealed that digital retail in the region grew 85% year-on-year and is on track to see almost 80% of consumers go digital by the end of 2021.
This also holds particular significance, as it will outpace the likes of China, Brazil, and India, according to a Facebook and Bain & Company report.
Tech Wire Asia had the chance to speak to Andrew Martin, head of AI & data company Databricks, on the state of digital retail in SEA.
What does digital retail mean, exactly?
Digital retail today can be defined as an omnichannel experience that allows consumers to easily maneuver and engage with a business’s platform. This, in turn, provides the information and education to facilitate purchasing decisions.
With uncertainty at the core of today’s decision-making, retail and consumer goods
companies must focus on the speed and agility of collecting and understanding data as a core business competency.
These companies need to be quicker at collecting customer data to meet new demand, be nimble about data analysis so that costs and supply chain inefficiencies are reduced, and stay flexible when responding to dynamic market shifts.
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