mobile monday (july 2014) - rocket internet - how online marketplaces change the way myanmar is...
DESCRIPTION
Erwin Sikma from Rocket Internet shares insights into how online marketplaces are changing the way Myanmar shops.TRANSCRIPT
Mobile Monday – July 28th 2014, Yangon, Myanmar
How online marketplaces change the way Myanmar is shopping
Erwin Sikma
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Online marketplaces bring buyers and sellers together online
Online marketplaces
SELLERS BUYERS
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These plaEorms facilitate transac?ons of all kinds of products and services
Online marketplaces
§ Product/service: all kinds of products and services § Buyer: individuals, some companies § Seller: individuals, some shops
§ Product/service: Vehicles – cars, motorcycles § Buyer: individuals, companies § Seller: dealers, showrooms, brokers
§ Product/service: Real Estate – houses, condo’s etc. § Buyer/lessee: individuals, companies § Seller/lessor: individuals, agents, developers
§ Product/service: all kinds of products § Buyer: individuals, companies § Seller: mainly shops
§ Product/service: Jobs § Buyer: job seekers § Seller: companies, NGOs
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In developed economies 70+ % of all people buy regularly online, in emerging economies online sales growth is up to 30% per year
Buying and selling online
Source: eMarketer – esRmated global e-‐commerce sales and online buyer penetraRon 2013
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People are aJracted to shopping online due to the convenience, transparency and having everything at one place
Buying and selling online
Source: Invesp.com – Why consumers prefer shopping online
Convenience and Accessibility § Everywhere and always available § No need to visit several shops and be
disappointed § No traffic
Transparency and Ease-‐of-‐use § Navigate through all opRons § Easy compare characterisRcs and prices § Find all informaRon and pictures § Reach out to buyers or sellers directly One-‐stop-‐shop § All products § AddiRonal services: “how to make your
CV” § AddiRonal products: “car loans/insurance
comparison”
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People’s shopping behavior is changing rapidly
Changing shopping behavior
§ All op?ons are only a click away § Easy to compare § Transparency leads to improved pricing structures
Informed decisions
Different products
Feedback § Easy to voice an opinion § Reviews that are available for all § Companies can adjust their offering, markeRng and services
§ Broader scala of opRons § Trends develop quicker as consumers are exposed to
products sooner
More and oUen
§ Exposure to many more products and services § Possible to buy at any given ?me
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Companies are gecng more open to feedback from their customers, therefore improving their products and services
Changing shopping behavior
§ Email § Phone § Feedback form § Reviews § Comments § Facebook / Twider § Online surveys § Fora § Search behavior (on-‐site, off-‐site) § Click behavior
How customers provide feedback What companies do with it
§ Answer quesRons § Improve pricing structures § Adapt offering § Improve customer service § Adapt/create trends § Publish reports § Adapt markeRng and branding § Become a “human brand”
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Several developments will facilitate the popularity and growth of buying and selling online in Myanmar
Myanmar’s shopping behavior
Internet usage and behavior § Internet access and speed § From only FB and Gmail to shopping online
Trust in online companies § Quality standards of websites § Security and ease-‐of-‐use § AnR-‐fraud measures § Transparency of products/services
Payment solu?ons § Availability § Security § Full integraRon
Fulfilment process § Warehousing § LogisRcs § Planning and problem solving
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In Myanmar we are already providing these services and our ventures are very succesful
Myanmar’s shopping behavior
Pageviews per month
Lis?ngs Clients / sellers
~ 850k
~ 2,000
> 4,000
> 500k
> 10,000
> 500
> 600k
> 20,000
> 400
> 300k
~ 15,000
~ 500
> 1 million
~ 5,000
> 3,500
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We see how Myanmar is changing its shopping behavior
Myanmar’s shopping behavior
§ Traffic and leads are growing fast
§ Tens of thousands of clients are already online
§ Mobile share of traffic is increasing rapidly
§ Valuable feedback is provided by users and clients
§ Willingness to learn through our client service
§ Pricing structures are improving
§ Demand for high quality and complete informa?on
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Time for quesRons
Discussion