Selling to Asia with Super Apps
Super apps contain so much more than just digital wallets. They hold a multitude of mini-programs that allow the user to instantly hail a ride, make dinner reservations, or even schedule a doctor’s appointment. And now, they can put your brand’s products right at the fingertips of Asian consumers. Giving your business direct access to one of the world’s fastest growing economies. But is it really that simple? Let’s take a look.
Expanding Your Brand into Asia
The Asian e-commerce market is booming. Southeast Asia’s digital economy alone is expected to grow to $1 trillion by 2030. This growth has been helped along over the past few years by the pandemic, with Southeast Asia adding over 70 million online shoppers since it began. This makes for a great opportunity for growth for any e-commerce businesses able and willing to expand into Asia.
But for many e-commerce businesses, gaining entry into the Asian market seems like a daunting task with seemingly many barriers to overcome. But this couldn’t be further from the truth. The continuous improvement of digital infrastructure, particularly in the areas of logistics and payments, will effectively resolve cross-border trade’s biggest constraints. Digital technologies enable global sellers to participate, effectively negating the barriers to entry that have made penetrating these markets difficult for years.
This is where super apps come in.
Super Apps: The Gateway into the Asian E-commerce Market
Super apps, and the digital wallets they contain, have quickly become the most popular payment method across large parts of Asia. China’s WeChat is the third most-used app globally, with over 1 billion users, most of whom use the WeChat Pay digital wallet for their day-to-day transactions, including e-commerce purchases.
Traditionally, merchants would have to work with an e-commerce marketplace to sell their products, losing brand control to middlemen. Now, brands and retailers can now launch their e-commerce stores directly into the super apps via mini-programs. By launching into the super app ecosystems like WeChat Pay, Alipay, KakaoPay, and more, you give over 2 billion Asian consumers the opportunity to become customers of your brand, and provide a localized shopping experience.
Opening up a new stream of revenue for your company can be as simple as having Pockyt integrate your customized mini program into our partners’ super apps, expanding your geographical footprint. Instead of going through large and expensive marketplaces like JD.com, retailers can maintain the direct connection with their end-shopper in the Asian markets. It’s also dramatically less expensive and less risky than creating local entities in every new market you choose to enter.
Partnering with Pockyt enables brands and retailers to enter new markets, reach new customer segments, and support their customers’ preferred way of shopping. Pockyt provides the payments and logistics, and launches brands directly into the many Asian super apps.
If you’d like to learn more about the opportunities super apps present for your business in the Asian market, Pockyt will be hosting a webinar on May 17th at 4 PM EST with Digital Crew Consultancy to talk about selling with super apps in the Asian market, as well as how the metaverse is posed to change commerce as we know it. Click here to register for the webinar.