PayPal recently held an Industry Roundtable: Commerce without Borders, in conjunction with unveiling the findings of PayPal’s Cross-Border Trade Consumer Research 2018.
Dr. Rohan Mahadevan, Senior Vice President, International Markets, PayPal, Prof. Annie Koh, Vice President, Office of Business Development, Professor of Finance (Practice), Singapore Management University, Alexander Capri, Senior Fellow at Asian Trade Centre, and Dione Song, Chief Commercial Officer, Love, Bonito explored the impact of trade policies on cross-border e-commerce and the drivers in the Asia-Pacific region.
Key insights from the roundtable discussion below with the full version of the post-event infographic:
- E-commerce is finding a new normal amidst global uncertainties
- The immediate future for e-commerce in Asia-Pacific is contingent on the 3Ts – trust, technology, talent
- Key trends expected in 2019 include the rise of regional trade clusters where businesses can manoeuvre the current global climate to access new and emerging markets
- Experience is everything for e-commerce
- In their journey towards the new normal, merchants should look at exploring new corridors and ways of enhancing customer experience. Seamless retail and service experience holds the key to navigating uncertainties in today’s environment.
- An omnichannel approach is key for merchants — larger players will look to enhance a consumer’s shopping experience while smaller merchants will move to create a bespoke and differentiated shopping experience
- E-commerce will remain borderless through greater collaboration
- The ecosystem will continue to evolve with the opportunities present in public-private partnerships, that can create a level playing field for smaller merchants and encourage the bigger players to contribute towards a more vibrant e-commerce ecosystem in the region
- With protectionism becoming a reality, collaborative partnerships and customer-centric innovation is key to growth.