Forrester’s First-Ever Online Retail Forecast For Asia Pacific Now Live

After years of looking at how the online markets of Asia Pacific are emerging from an online shopping perspective, we are thrilled to announce our first online retail forecast for China, Japan, South Korea, India and Australia.* Some findings from the forecast:

  • Japan still takes the top spot in the region. Japan retains its dominance in the region with some $45 billion in online retail sales this year. Indeed, while China’s combined B2C and C2C spending surpasses B2C spending in Japan, Japan is still the leader in traditional online retail sales. And despite the fact that online consumers in Japan are purchasing across a wide variety of categories, some category purchases like beauty have shifted online in Japan in a way they have not in the US or Europe.
  • China’s growth rates will propel it ahead of Japan in the very near future. China’s combined  B2C and C2C sales — the two are nearly impossible to separate** — are poised to reach $49 billion in 2010. China’s CAGR will be double that of the US, Western Europe and Japan, and it’s clear that China will be the eCommerce market most likely to rival that of the US.
  • Australia’s robust growth will be driven by an increasingly vibrant online retail sector.  The online marketplace in Australia is marked today by a large number of cross-border transactions, but there is growing momentum among local players. Though less than half the size of the online retail markets in Japan and China, Australia’s growth rates are slightly higher than those of Japan and its US and Western European counterparts.
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National Australia Bank Tops Our Australian Bank Content & Functionality Benchmark

A few months ago I wrote here about our benchmark of the sales content and functionality of UK banks' sales sites. My colleague Vanessa Niemeyer has just published a benchmark of the big four Australian banks' sales sites. Crushingly for an Englishman, the Australians beat us. The four Australian banks achieved an average score of 56 (out of 100), compared with an average of 48 for the British banks.*

National Australia Bank (NAB) came top, just ahead of Westpac in second place, with Commonwealth Bank of Australia not far behind. The Australian banks demonstrate a series of good practices in their application processes, such as cross-selling during the application and automated confirmations. We highlight many of the good practices that the eBusiness teams at the Australian banks have developed in the report which is available for Forrester clients here.

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Tell Us How You Connect With Your Customers In Australia Using Social Media

An awful lot has happened since our last major review of how Australian consumers use social media and how marketers should respond. For example, we are seeing continued growth in the use of social networks worldwide, while the growth in some other social activities — such as writing blog posts — has stalled or even slightly declined. My report will explore how Australian consumers use social media, how this has changed in recent years, and the implications for marketing.

As part of our research for this report, we would like to ask a number of questions of the marketing leaders responsible for Australia's most significant brands:
  • How has your use of social media marketing changed in recent years?
  • How have your customers changed how they interact with you via social media in recent years?
  • What success stories and warnings would you offer based on your experience?
  • What is the cost of these programs in terms of people, time, and media costs?
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