According to App Annie’s newly released “Holiday Shopping Season Will Usher in the Mobile Market in the Asia-Pacific Region”, it predicts the growth of mobile shopping time in countries in the Asia-Pacific region in the fourth quarter of 2021. Highlights include:
- In 2019, Alibaba’s single-day GMV during the Double Eleven Shopping Festival was close to 40 billion U.S. dollars. We expect this year’s total GMV will be twice that of 2019, reaching approximately 85 billion U.S. dollars.
- During the peak shopping period of 2021 (Q4 2021), Japanese shoppers are expected to spend 300 million hours on shopping apps. In contrast, Japanese shoppers used 200 million hours of shopping apps in the fourth quarter of 2018—a growth of 33% in just three years.
- The usage time of shopping apps for Korean users increased from about 160 million hours in the fourth quarter of 2018 to about 200 million hours in the fourth quarter of 2021-an increase of 25%.
The following are the details:
For ten years, mobile shopping habits have been steadily developed, thanks to the increase in smartphone penetration, faster mobile data network speeds, and of course more savvy mobile retailers.
Consumers in the Asia-Pacific region are leading this change in buying behavior. Their shopping enthusiasm is particularly evident in the data related to holiday season activities.
The latest data from App Annie shows that mobile shopping time has increased significantly in countries in the Asia-Pacific region. For example, our forecast data shows that during the peak shopping period in 2021 (Q4 2021), Japanese shoppers are expected to spend 300 million hours in shopping apps. In contrast, Japanese shoppers used 200 million hours of shopping apps in the fourth quarter of 2018—a growth of 33% in just three years.
The mobile shopping time of Korean users is relatively short, but the corresponding number is still on the rise. Our data shows that the time spent on shopping apps by Korean users increased from about 160 million hours in the fourth quarter of 2018 to about 200 million hours in the fourth quarter of 2021—an increase of 25%.
Although mobile commerce is showing an upward trend globally, regional holidays still affect the unique growth and seasonal characteristics of the Asia-Pacific region. Double Eleven is a major shopping carnival in China. In 2020, the event has been extended beyond November 11th, and the promotion will last from November 1st to midnight on November 12th.
Double Eleven (Singles’ Day) is a relatively new phenomenon — it was reported that it started in 1993 and was originally a joke for college students — but it has now become a national holiday. This is mainly due to China’s Alibaba Group, which turned this festival into a grand annual shopping spree.
The single-day gross merchandise transactions (GMV) of the Double Eleven Shopping Festival in 2019 is close to 40 billion U.S. dollars. We expect the total GMV this year will be twice that of 2019, reaching approximately US$85 billion.
The total turnover of the Double Eleven Shopping Festival in 2020 is approximately US$75 billion, but approximately US$54 billion of which was transacted within the first 30 minutes of the event. In the mobile field, this is equivalent to everyone queuing to be the first to enter the store.
Mobile shopping has always shown an upward trend, but it is not yet fully mature. There is still a lot of room for growth and there is room for new trends. For example, as of now, the Queenit app ranks among the top in this year’s ranking of breakthrough shopping apps in Korea.
Regarding the popular products of Rapport Labs, it is worth noting that it is aimed at middle-aged women, not young consumers, and it has had a huge appeal in the first year of release. This is enough to attract investors’ attention, and SoftBank Ventures led a round of financing worth 5.5 billion won (5 million U.S. dollars).
In South Korea, Queenit withstood the challenge of the mobile e-commerce market leader SHEIN (ranked third). But in other regions, the application still dominates. SHEIN is at the top of the ranking of breakthrough shopping apps in Japan. This is another remarkable achievement of the product, which also makes Shein the world’s largest online fashion company, and partly thanks to the fact that in the first half of 2021, SHEIN’s app downloads on iOS and Google Play reached 7,600. Million times.