Luxembourg: Global Fashion Group (GFG), the leading online fashion & lifestyle destination in growth markets, announces the launch of ZALORA’s inaugural Southeast Asia TRENDER Report. The report examines the impact of changing industry trends, and recalibrates perspectives and strategies to help companies navigate the challenges brought on by COVID-19. Powered by insights and analytics from Data by GFG, GFG’s proprietary intelligence platform, the full Southeast Asia TRENDER Report is available HERE.
Gunjan Soni, Chief Executive Officer, Zalora Group said: “This has truly been an unprecedented year for fashion and lifestyle retail, with businesses everywhere deeply affected by movement restrictions and disrupted supply chains. Uncertain times need more decisive action but leaders face challenges in access to reliable consumer data as all past patterns come breaking down.
This is why we decided to harness the rich data we hold and are working closely with our valued partners via ‘Data by GFG’ to provide deeper insights into issues such as consumer buying behaviour, geo segmentations, as well as assortment. We hope that this report will be able to serve as a north star in helping players in the ecosystem better understand the evolving landscape, and be able to plan strategically for 2021 and the years beyond.”
The official launch of the report took place via a live Webinar, which offered a deep dive into the report’s key themes, including:
- E-commerce acceleration is here to stay: The onset of COVID-19 has accelerated adoption of e-commerce and digital payments as more people in the region embraced online shopping during this period. In Singapore, for example, three out of four consumers plan to maintain their current online shopping levels well after the pandemic subsides.
- The future is YOUNG and FEMALE: Women in SEA contribute to 80% of all household purchases, outshopping men by 20%, and spend 40% more time on online retailers. The region is home to over 200 million millennial and Gen Z consumers who are expected to comprise the largest shopping base in coming years as they reach their mid-20s and earn higher disposable incomes.
- Fashion and lifestyle categories have shifted: Though hard hit by the pandemic, fashion demand did not disappear, but has instead shifted. Demand for categories like sports and activewear, loungewear, children’s wear, beauty and home & living surged, together with health and hygiene products.
- Making and delivering sustainability commitments is key: 90% of customers who answered the survey in Southeast Asia displayed interest in shopping for sustainable products and more than 50% were willing to pay a premium.
- Immersive commerce is the future: Bridging the gap between the offline and online experience is a must for every brand and retailer, with respect to payments, brand experience and potentially augmented reality.
- Cash is starting to lose its throne: While cash payments continue to be preferred over e-payments in Southeast Asia, usage of the latter is starting to accelerate with digitisation. With 250 million smartphone users, e-wallets are fast replacing conventional banking methods. 49% of urban commercial bank customers in the region already use e-wallets.
The Webinar also featured a panel discussion by industry experts, including Gunjan Soni, Chief Executive Officer, ZALORA; Ettore Strapazzon, Lead for TRENDER, ZALORA; Samuele Saini, Sector Lead of Apps, E-Commerce and Entertainment, Google SEA; and Warren Hayashi, President, Ayden Asia Pacific, who shared their predictions on the future of the industry, as well as suggestions on ways to connect with the “new consumer”.
To access the full recording of the Webinar, please visit the link here.
About Global Fashion Group:
Global Fashion Group (GFG) is the leading fashion and lifestyle retail destination in LatAm, CIS, SEA and ANZ. We connect over 10,000 global, local and own brands to a market of more than one billion consumers through four established ecommerce platforms: dafiti, lamoda, ZALORA and THE ICONIC. Through an inspiring and seamless customer experience enabled by our own technology ecosystem and operational infrastructure, we are dedicated to being the #1 fashion and lifestyle destination in our markets. With 17 offices and 10 fulfilment centres across four continents, GFG proudly employs a dynamic and diverse team with deep local knowledge and expertise. In the twelve months to 30 September 2020, GFG delivered 39.1 million orders to 15.4 million Active Customers. (ISIN: LU2010095458.)
For more information visit: www.global-fashion-group.com