Asia continues to be one of the biggest growth markets in the world. With many different countries spanning this region, opportunities are endless for SME businesses looking to reach Asian consumers online. Demand for luxury brands and global products is soaring in China and it’s important to keep in mind the initial size of the opportunity for each region. If you start with China for instance, whose internet population in 2019 was around 840 million, but is due to rise to 975 million by 2023. This represents a huge new available customer group for your business to engage with and drive to your products.
The question every ambitious online seller asks at some point is: how can I tap into the various Asian markets to reach these active and growing markets? To help businesses navigate and take advantage of the changing landscape and reach customers across Asia, we’ve put together a list of some of the top marketplaces you should check out to get Asian shoppers to checkout with you.
TMall
Tmall Global was set up to provide big brands from the west a marketplace with access to China’s growing consumer base. As an Alibaba Group company, TMall benefits from being a highly trusted platform that reaches many of the region’s lower-tier cities and rural areas. With Tmall, retailers can sell to Asian shoppers through special warehouses provided by the platform. In essence, Tmall provides the whole shopping solution with merchants only needing to supply the product and that is why many of the world’s biggest brands, including Burberry, Zara, and Disney, are selling on Tmall too.
Key features:
- Over 20 countries operate storefronts on Tmall Global
- TmallGlobal offers warehousing and storage services to international sellers
- Sellers get daily sales reports and analytics
AliExpress
Launched in 2010, AliExpress is a truly global marketplace connecting global customers with Chinese manufacturers and distributors. It is increasingly popular in Russia, the United States, Brazil, Spain, and France. As part of the Alibaba Group – AliExpress has facilitated global e-commerce from China in a way that no other marketplace has managed to do.
Key features:
- AliExpress app is available in 17 local languages
- It is the most visited e-commerce site in Russia
- This platform is aimed at international buyers and sellers
JD.com
JD.com (often known as Jingdong) used to be called 360buy. It is a Global500 company that partners with local and global brands looking to tap into the Chinese market. They offer a suite of services to help companies reach their customers including marketing, customer targeting, and data-driven analytics.
Lazada
Lazada is an eCommerce marketplace with presence across Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. For businesses looking to tap the South East Asian market, Lazada aims to serve 300 million customers by 2030 – and has the technology, and logistical set up to do so. LazMall is a ‘virtual mall’ launched by Lazada in 2019, it connects 7000 international and local brands to shoppers across the region. Brands can create a personalised experience for their customers, making the shopping journey more tempting.
Key features:
- Over 550 million consumers in six countries
- Alibaba has invested $500m in the business
- No monthly or listing fees make it a favourite with sellers
Reaching a wider customer market globally while overcoming a range of possible currency and payments issues, means working with FX specialists to help you navigate the use of these marketplaces.
At WorldFirst we can help you with your FX issues when using the marketplaces where we have you covered when it comes to delivering USD and CNH into China for business payments for instance. You will be able to open multiple local currency accounts in GBP, EUR, USD, CAD, CNH, HKD, JPY, NZD, SGD & AUD for FREE with WorldFirst.
Access a seamless way to pay suppliers in local currencies across Asia for instance, collecting funds and paying overseas suppliers in local currencies quickly and easily. In need of further support? Why not chat to one of our friendly local-language currency specialists who can help you with your transfer.