With the global economy embracing digital transformation, small business owners cannot afford to stay behind. The growth of online commerce has brought about immense opportunities that ‘brick-and-mortar’ entities in Southeast Asia are exploring to drive their trajectory towards prosperity. Selling online via websites not only helps in reaching a larger audience but also paves the way to operate businesses 24/7 from anywhere.
Let’s take the example of the Philippines, where over 70 million people are registered online users. Imagine reaching out to even half of that number; the potential for growth is staggering. Or consider Indonesia, the largest digital economy in the region projected to reach $130 billion by 2025 (e-Conomy SEA 2019 report). The journey of the local grocery app, HappyFresh, to becoming a household name across Southeast Asia is a motivating example of flourishing in this domain.
However, selling online isn’t about creating a website and waiting for the magic to happen. It requires strategic preparation and implementation. Here are some simple steps for small businesses in Southeast Asia to join the digital bandwagon:
- Reflect on Your Business Goals: The digital arena is vast, and it’s crucial to know what you want to achieve by entering this sphere. Defining goals helps customize your online presence to align with your objectives.
- Develop an Intuitive Website: Your website is your online storefront. Focus on user-friendly navigation, appealing design, and relevant content. It must mirror your brand’s personality.
- Leverage E-commerce Platforms: Websites like Lazada and Shopee are already popular in the Southeast Asian region. For starters, these platforms can serve as a launchpad for your online presence.
- Optimize for Search Engines: SEO is crucial for increasing your digital visibility. Include region-specific keywords and phrases to draw local traffic to your website.
- Prioritize Mobile Shopping: Nearly 90% of the region’s internet users are mobile-based (Hootsuite, 2020). Designing a mobile-friendly website or an app can attract more customers.
- Secure Payment and Delivery Options: The smooth and secure transaction process bolsters clients’ trust. Offering convenient payment and prompt delivery services make customers’ shopping experience satisfying.
- Implement Digital Marketing Strategies: Utilize social media, emails, content marketing, and online advertisements to promote your website and draw traffic.
- Review and Revamp: Keep testing various strategies, analyze the results, and make necessary amendments. This will ensure you stay relevant in this ever-evolving digital realm.
Let’s rewind to the SARS outbreak in 2002-2003 when the Chinese market was hit hard. It paved the way for online marketplaces like Alibaba and JD.com. These platforms flourished, and China now leads the e-commerce market globally. A similar trend is stirring across Southeast Asia due to the COVID-19 pandemic.
A statistic by Google, Temasek, and Bain & Company estimates the region’s digital economy to triple its worth and reach its $300 billion mark by 2025 due to the pandemic-induced digital shift. Thus, it’s the opportune time for small businesses in Southeast Asia to embrace the online realm and unlock their potential to scale.
Overcoming the initial challenges of transitioning online may feel daunting. However, the manifold benefits of increased visibility, enhanced customer relations, lower operational costs, and, most importantly, greater sales can be transformational for Southeast Asian small businesses. The digital realm is here to stay, and the sooner small businesses adapt, embrace and excel in it, the better their prospects in this current digital age.
