More and more Asians are choosing to buy products online, according to research from PayPal.
Their motivation: to avoid the crowds, long queues and parking troubles at shopping malls, while benefiting from holiday promotions on a wider variety of items that can be found online, the payments gateway concluded.
PayPal says it saw a 160 per cent increase in online shopping transaction value from Asian consumers on November 7, highlighting that the holiday shopping period across the region began in early November. This is also the first year-end holiday season for Asian consumers to be covered by PayPal's expanded Buyer Protection policy.
According to the Asia Digital Marketing Association (ADMA) 2010 Report, the top three reasons for online shopping across the region include the convenience of being able to shop anytime, better deals from price comparisons, and the ability to find and compare a wide range of products. ADMA also reported that 39 per cent of online shoppers across the region indicated that they buy from overseas websites, highlighting the importance of cross-border shopping.