Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Survey finds high spending group in APAC

Anuradha Shukla | Aug. 19, 2016
Elite club of shopaholics has enormous spending power and high payment demands.

An elite club of shopaholics in Asia Pacific (APAC) has enormous spending power and high payment demands, according to a new survey by Worldpay.

APAC Super-Shoppers are some of the most likely to shop online via a mobile device.

Although Super-Shoppers in China make up just 5 percent of the general population, they account for 92 percent of all the money spent buying physical goods online in the country each month.

Chinese Super-Shoppers are more likely to use a credit or debit card as compared to the average Chinese shopper.

More than 60 percent of Japan's online shoppers would readily switch to another retailer if they can't use their preferred payment option at checkout.

"The Super-Shopper trend is driven by a growing middle class, high mobile penetration and recent advancements in consumer technology. APAC Super-Shoppers are passionate about what they buy and sophisticated in how they shop," said Phil Pomford, general manager Asia Pacific, Global eCommerce at Worldpay. "They do research to find the most competitive prices, and will turn elsewhere if they discover they can't use their preferred payment method at checkout." 

Abandoning purchases

Super-Shoppers may buy the same item from another website or abandon their purchase all together if they are not able to use their preferred payment option,  

Sixty-one percent of Japanese Super-Shoppers said they would switch to another retailer if unable to use their preferred payment option at checkout.

Forty-one percent of the general population in China prefer to pay online with Alipay, however, only 18 percent of China's Super-Shoppers said they were likely to use their nation's most popular eWallet.

Slightly more than half (54 percent) of Chinese Super-Shoppers said they preferred to pay with a credit card.

"In APAC, Super-Shoppers prefer credit cards even where these cards have little or no traction among the general population. Therefore, a retailer who doesn't support the right range of payment methods could actually be losing major revenue without noticing," added Pomford.

 

Sign up for CIO Asia eNewsletters.