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Growth of Ecommerce and Opportunity for Banking

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Growth of Ecommerce and Opportunity for Banking Opportunities for Financial Services in eCommerce Presented By: Jessica Chung Engagement Manager Ipsos Strategy3, Hong Kong 23 July 2020 © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Introduction to Ipsos and Strategy3 IPSOS STRATEGY3 – THE STRATEGY CONSULTING ARM OF IPSOS Leaders in Consumer Market Research Growth Strategy Specialists Leaders in Industry Market Research Global Big 3 market research group; largest Asia market research & consulting group Specialised division within Ipsos providing fact- based consulting services to help clients build, • #1 research firm in Asia; compete and grow • 18,000 employees worldwide, 3,000 in the Greater China Region and Hong Kong; • Top ranked growth strategy consultancy in • Publicly traded in the Paris Stock Exchange (IPS:EN Asia Pacific; Paris) • Over 25 years of industry track record • A global firm, present in 90 countries across the • Global consulting hubs for worldwide coverage world © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 eCommerce Opportunities for Financial Services NEW REVENUE FROM CAPTURE GROWTH IN MANAGE CREDIT AND UNDERSERVED OR ACCELERATING MASS LENDING RISK WITH RELIABLE UNSERVED SEGMENTS SPENDING CHANNEL AND REAL-TIME DATA Credit Cards B2B and B2C space Credit and transaction history Commercial Credit and Loans Target shopping categories Review risks of default on loans Expand existing banking Fast receivables and cashflow cycles Enable faster and relationships smaller size loans 3 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Key Questions for Successful Roll-out Strategy 1. How many customers are underbanked or underserved? 2. Which customer segments and characteristics should I target to define my addressable market? What are these customers looking for? 3. What type of products can I offer competitively in the eCommerce financing space? 4. What channels and programs attract and retain eCommerce customers most suitable to my offerings? 5. What are barriers for my products and services to compete? 6. How should I assess risks and lending approvals for eCommerce platforms? 7. Who are my competitors for my product and target customers? 8. What partnership structures should I pursue to tap into the eCommerce financing space? 4 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 We support clients with developing a robust customized growth strategy supported by in-depth market insights and stakeholder workshops Ipsos provides a modular approach to strategy development and design 1 2 3 4 5 MARKET CUSTOMER INTERNAL ANALYSIS AND STRATEGY DIAGNOSTICS INSIGHTS ASSESSMENT VALIDATION DESIGN • Industry landscape • B2B (Enterprise) and • Internal alignment with • Assess competitive • Actionable strategy • Market Sizing and B2C (Consumer) client’s business opportunities and for top line and Forecast customer research performance, white space for bottom line growth • Market Segmentation • Path-to-purchase challenges, and Client • Growth scenario • Ecosystem/Channel • Key decision factors capabilities • Detailed route-to- planning on Mapping • Customer • Competitive positioning market development financial outcomes • Competitive Landscape segmentation • Identify direction on • Business model • Market Opportunity high-level opportunities development Evaluation 5 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Covid-19 Update COVID-19 continues to accelerate the rise of ecommerce • Global eCommerce market projected to reach USD 5 trillion by 2022 • Half of eCommerce market value, and fastest growth, will be from APAC • Combined growth of at least 15% by 2022 • COVID-19 accelerated adoption, usage and growth of eCommerce globally, especially in APAC • Many consumers and merchants now need to use eCommerce platforms for retail sales • New eCommerce behaviours are becoming new habits for many consumers 6 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Covid-19 Update Consumers believe covid-19 will Respondents in Hong Kong last beyond 2021, increasing use 30% of online retail in the meantime Q3 2020 Believe pandemic will not end before in Q3 2020 Q2 32% 2022 Believe Hong Kong will only recover in 2021 (18% expect recovery towards Q2 2021) 48% Spend more time browsing on 36% online shopping platforms Purchased more groceries online or used more mobile payments 7 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Sources: Ipsos Hong Kong, Hong Kong Consumer & COVID-19 Study March 2020 Market Diagnostics and Partner Scan A Closer Look at eCommerce in APAC Local 120+ Prioritising Marketplace Platforms Access to APAC Platforms Dominate Ipsos eCommerce Landscape SMEs Database © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Market Diagnostics and Partner Scan A Closer Look at eCommerce in APAC Largest Fastest Value Growth Cross-border shopping APAC Apparel and Online in Asia Electronics Groceries © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Market Diagnostics and Partner Scan A Closer Look at eCommerce in APAC ~ 4 million merchants 400 million + customers 1 Trillion + PinDuoDuo USD China Japan Mature ~ 5 million merchants China eCommerce Markets 30 million + customers in 2020 South Lazada and Shopee Korea Singapore Cross-border SEA region Singapore APAC Room for ~ 20+ million merchants Growth in 180 million + customers Other APAC Bukalapak, Tokopedia, Blibli, Ralali Markets Indonesia © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Competitive Landscape and Partnership Deep-Dive Rapid eCommerce Adoption is Providing New Opportunities and Potential Competition to Banks Trade Flow Monetary Flow & Requirements Lending And Credit Flow Business FINTECH COMPANIES Cash Flow Cash Points Requirements Credit/Loan Provide Commercial Provide Consumer Loans/Credit Line Credit, rewards, lending FINANCIAL INSTITUTIONS ECOMMERCE CONSUMERS ENTERPRISES Receive Payment on Platform Payments ECOMMERCE PLATFORM (B2C example) 11 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Customer Insights What commercial financial services are needed for eCommerce retail customers? Social distancing and economic instability from COVID-19 will accelerate adoption of eCommerce retail channels LOANS AND INSTALMENT SIMPLE, SECURE, AND LOYALTY REWARDS FOR BIG TICKET ITEMS STREAMLINED PAYMENT TOUCHPOINTS Consumers require loans or Credit lines or loan approvals Loyalty rewards such as instalment options for larger that are simple and streamlined cash back and rewards ticket items, such as with the eCommerce platform programs offered by the electronics they are using platform or partnered financial service provider 12 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Customer Insights What commercial financial services are needed for eCommerce merchants (enterprise) customers? To capture financial service opportunities in the eCommerce ecosystem, Ipsos has also conducted focus groups to uncover offerings and touchpoints needed by merchants to have competitive advantages on 4 key fronts UNIFIED STREAMLINED LOW INTEREST RATES CAPITAL REQUIREMENTS FAST APPROVAL TIME PROCESS • • Small and frequent loans or Traditional applications take • • Seamless and transparent Traditional loans 4%-13% or credit lines to match payment a few days to a month management system higher* schedule and pace of sales on • Now in 24 hours or down to between platform and • eCommerce and fintech eCommerce platforms 30 mins for loan financial accounts offering from 0.2% • Critical for financial shortfalls; approvals and to cash • Especially for cross-border working capital, payment receivables and release, inventory transactions management, and business expansion 13 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 Platforms and financial institutions are aggressively pursuing financial service opportunities in eCommerce Banking institution and platforms successfully expanding in this market acted fast Developments by fintech and platforms are creating new financial ecosystems 14 ‒ © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 THANK YOU CONTACTS Jessica Chung Markus Scherer Engagement Manager Head of Strategy3, Hong Kong [email protected] [email protected] +852 2830 2531 +852 2839 0647 © Ipsos | Opportunities for Financial Services in eCommerce – July 2020 ABOUT IPSOS GAME CHANGERS Ipsos is the third largest market research company in the world, In our world of rapid change, the need for reliable information present in 90 markets and employing more than 18,000 people. to make confident decisions has never been greater. Our research professionals, analysts and scientists have built At Ipsos we believe our clients need more than a data supplier, unique multi-specialist capabilities that provide powerful they need a partner who can produce accurate and relevant insights into the actions, opinions and motivations of citizens, information and turn it into actionable truth. consumers, patients, customers or employees. Our 75 business solutions are based on primary data coming from our This is why our passionately curious experts not only provide surveys, social media monitoring, and qualitative or the most precise measurement, but shape it to provide True observational techniques. Understanding of Society, Markets and People. “Game Changers” – our tagline – summarises our ambition to To do this we use
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