ACommerce, Southeast Asia’s leading End-to-End Ecommerce Platform and Solutions provider, reveals the BrandIQ Flash Insights report on the Top 100 fastest growing Ecommerce categories after the COVID-19 outbreak. The company launched BrandIQ in 2018 to help brands understand online shopper trends and apply data analytics to increase Ecommerce sales.
BrandIQ is the first SaaS solution that assists retailers and brands in consolidating product and channel information and getting granular views on Seller’s activities, Brand’s Share of Shelf, Share of Categories, and Market Share comparison. The company calls the report Flash Insights as it provides a quick overview of trends that are growing in the Thai Ecommerce landscape.
Because of the restrictions and COVID-19 preventive measures, Thai people have been avoiding visiting offline stores. They stay home and order goods from stores and retailers to fulfil their needs. This “new normal” way of living persuaded brands to start investing in online marketplaces to drive store visits, and BrandIQ’s Flash Insights reports confirm that Digital Vouchers saw a growth of +1,237% since last year in Thailand. In addition to driving sales, voucher programs present a solution for brands to optimize their inventory amid the COVID-19 crisis. Another trend that surged during the pandemic was cooking at home. As the coronavirus pandemic continues to cause disruptions, many Thais have settled into a routine that involves a lot more home cooking, increasing the demand for refrigerators and cookware. Online groceries also surged with Dairy & Chilled products growing 2,637% including Dry & Package goods growing 389% and breakfast cereals & Spreads growing 271%. This shift in behaviour is not only because consumers working from home no longer stop for breakfast or coffee on their commute, but also because they feel unsafe going to restaurants. Last year’s report revealed a surge in the food supplement and furniture categories, and with many people in the country still working from home this year, the trend has continued. The pandemic highlighted the need for comfortable and productive spaces during quarantine whilst creating a growing demand for supplements as consumers prioritized wellness and health. Finally, the report also shows a significant increase in demand for Arts & Crafts for kids. This category includes activities and products which enable kids to learn while they are at home studying.
BrandIQ explains the overall increase across these categories due to the restrictions on out of home activities on the one hand, and retailers’ needs to sell their products on the other. As a result, the businesses had to adjust their strategies, and the changes in consumer behaviour has accelerated the speed with which companies have to undergo a digital and ecommerce transformation.
“Granular data and analytics of your e-commerce business is important for brands, but getting access to real-time data on your competitors’ sales, promotions, and orders is a game-changer,” said Paul Srivorakul, Group CEO of aCommerce. “Providing brands with end-to-end data is important in optimizing their e-commerce business and automating processes that help save costs and grow sales. For example when a particular brand or product starts selling well, our system immediately alerts marketing to increase advertising spend, then triggers customer service to increase support, then contacts the supplier to place a larger order and alerts logistics to prepare for increase in orders.”, he added.
ACommerce’s vision has always been to enable brands and retailers to innovate and successfully execute their e-commerce vision for Southeast Asia. The company has also added regional platforms such as Shopee and Lazada, including local marketplaces such as Tokopedia in Indonesia, Qoo10 in Singapore, and soon Sendo and Tiki in Vietnam.