During 2015-2019, the Vietnam E Commerce Market is Anticipated to Incline at a CAGR of 20.5% - ken Research

E-commerce industry in the global market continues to evolve and experience high growth in both developed and developing markets. Appearance of various local/ non-banking players in the online payment gateways market has also witnessed growth at a rapid pace. Being a country with a population of over 90 million, Vietnam is one of the Asia’s unexplored markets in terms of the potential in holds in E-Commerce. In the past decade, E-commerce was able to took over the world but Vietnam remained more or less alienated from that trend and it was only recently with the start of this decade that it managed to gain some attention in Vietnam, only after 2011. Vietnamese are slow adapters of new technology and primarily rely and trust conventional ways for doing things.

Vietnam B2C E-Commerce market    has been segmented into: Vietnam Online Retail market, Vietnam Online travel market and Vietnam Online Entertainment & Services booking market. During 2011-2014, the online retail market accounted for majority of the revenue of the overall GMV generated by Vietnam E-commerce market. . The incline in share can be attributed to consumer’s preference of buying clothes and electronics online as compared to many other products. Online Travel market including categories such as hotel & travel booking, air ticketing and food has been the second major contributor to the overall E-commerce market. Online Entertainment & Services booking market has been the contributed 9.6% of the overall E-commerce market GMV in 2014.
Banks are expected to offer several value-added services through their electronic channels such as tax collections, trading, bill payments and others. Additionally, internet banking enables customers to process diverse transactions with ease. They can view transaction details, transfer funds, pay bills as well as make purchases. Internet banking will further reduce the costs per transactions of banks. Thus with the increase in the usage of online payment instrument, the market for online payment gateway will increase. The online payment gateway market has increased at an annual rate of 45.2% during 2013-2014.
Vietnam online payment gateways market has been segmented on the basis of different modes of payment into electronic wallet, bank transfer, mobile cards and payable cards. In 2014, E-wallet accounted Majority of the overall payments made through online gateways. The dominance of e wallet in online payment gateways market can be attributed to the fact the E-wallet offers facility of worldwide access to people and thus facilitate online payments. The second major payment gateways used for making online payments were Bank transfers
Online Retail market of Vietnam has been mainly used by working population and youngsters which enjoy online shopping in the country. In order to establish an online retail store in the country firms need to collect information regarding various aspects of the market such as consumer preference, driving forces, payment mechanism and others. Online E-commerce market in Vietnam has enhanced in the past few years with more than 20.5 million online shoppers in the country in 2014. Vietnam is expected to have a rise in internet population for the purpose of Online Retailing. People in Vietnam are risk-averse and late adopters of new products and technology.

For further detail follow the below mentioned link:
https://www.kenresearch.com/technology-and-telecom/it-and-ites/vietnam-ecommerce-market-research-report/926-105.html
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Palawan Pawnshop, Cebuana, Lhuilier and M Lhuilier are Three of the Largest Pawnshop Businesses in the Philippines – Ken Research

The Philippines economy stood as the 40th largest economy in the world and has been one of the most budding amongst other economies in the Asian region in the last five years. The government of Philippines has carried out a string of legislative changes to improve the entrepreneurial environment and to make the private sector stronger to produce a healthy job growth. Higher growth in 2014 was largely led by fertile private consumption and construction, the revival of public spending as well as the growth in net exports. The growth in Philippines economy was the highest amongst the ASEAN-5 countries. One of the major factors that drove growth in private construction was the rising demand for residential and office space.

The market for domestic money transfers in the Philippines has been exceedingly dynamic and has matured since the last five years. Practically everybody who wished to make a domestic money transfer or a remote bill payment does so and has a gamut of alternatives available in terms of the presence of numerous formal payments service providers (PSP) in a market with high competition. The market has also been flooded with informal means of making payments which include friends, family and vehicle drivers. Domestic money transfers encompass both remote money remittances and payment of bills.
According to the central bank of the Philippines, approximately 8 out of 10 heads of Filipino households do not have any bank accounts, with the majority not having adequate cash accumulated for emergencies. The domestic remittance space in Philippines has largely been a cash-to-cash market, with the money flowing from several informal modes of payment such as friends, family, drivers and others. Pawnshops have been an important part of Philippines’ financial sector, surpassing banks in terms of physical reach. . Comparing to other financial institutions, pawnshops outnumbered savings and loans associations, universal and commercial banks, and rural banks. Palawan Pawnshop, Cebuana, Lhuilier and M Lhuilier are three of the largest pawnshop businesses in the Philippines, offering a variety of money transfer services.
Philippines ranked as the third largest recipient of remittances worldwide in 2014, followed by France, Germany, Bangladesh, Belgium, Spain, and Nigeria, and trailed India and China. The Philippines received remittances from all over the globe. However, a momentous proportion of remittances were received from the US, followed by Saudi Arabia and UAE. Even though the US has not been amongst the leading destinations for Filipinos, it has continued to dominate the remittance inflows in the Philippines over the past five years. Filipinos have been recorded as the second largest immigrant group in the US, with the category being led by Mexican immigrants.
The continued expansion of remittances in the past several years has been impelled by the sustained innovation on the part of banks, money transfer companies and other financial institutions which provide remittance services to overseas Filipino workers. Majority of the money remittances received by Filipino households are routed through commercial banks. On the other hand, money transfer companies such as I-Remit, LBC Express, Western Union, Xoom and Money Gram were also important remittance channels for OFWs in the Philippines.

For further detail follow the below mentioned link:
https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/philippines-remittance-market-research-report/2067-93.html
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Mataharimall.com is the Second Largest Player in Online Retail Market of Indonesia – Ken Research

E-commerce industry in the global market continues to evolve and experience high growth in both developed and developing markets. Appearance of various local/ non-banking players in the online payment gateways market has also witnessed growth at a rapid pace. A rapid rise in the number of broadband connections, Smartphone’s and innovative payment products has driven the growth in online retail market, though security remains the biggest apprehension in e-commerce market. Merchant’s payment needs have evolved the market dynamics of e-commerce market due to their focus on enhancement of user experience coupled with their partnerships with banks/ non-bank in order to provide consumer-oriented innovative payment solutions.

According to the Research Analyst, Ken Research  Online Retail Market of Indonesia has undergone profound changes since modern outlets have increasingly replaced wet markets and independent small shops. A decade back, the thought of getting clothes, footwear, bags and jewelry via online e-portals was completely inconceivable, however, with the emerging entrepreneurial idea of opening online shopping sites has changed the views of millions of people. As of 2014, Indonesia has numerous retail websites such as Rakutan, Zalora, Lazada, Lotte Group, PT Trans retail, PT superhero and others with innovative product offerings, attractive pricings, seasonal offers and discounts.
The Indonesia e-commerce market has showcased a remarkable growth during the span of last five years on the ground of expansion in product range as well as surge in online market places. In 2014, B2C retail distribution model was one of the largest. B2C retail in Indonesian archipelago has been capital intensive and margins have been achieved majorly through economies of scale. B2B commerce firms of Indonesia constantly suffer from problems related to sourcing, shipping and approval services. Online C2C commerce market has been one of the major growth drivers of online commerce market of Indonesia. Kaskus, Tokobagus and Berniaga are the largest online C2C commerce companies in the country.
Indonesia’s online retail market has grown year on year as people have switched their preferences towards online shopping. The major players have been in a race to increase their share in the industry by implementing various marketing initiatives, technology advancements and switching to different business models. Amazon Indonesia was the leading player in the industry, MatahariMall.com is the second largest player in online retail market of Indonesia. The firm is a local online retailer in Indonesia. In February 2015. The firm has been in direct competition with Rocket internet group brands Lazada and Zalora in the country.,According to the Research Analyst, Ken Research
For further detail follow the below mentioned link:

https://www.kenresearch.com/technology-and-telecom/it-and-ites/indonesia-ecommerce-market-research-report/2114-105.html
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The Revenue Of Flavor Market In India have Enhanced At a CAGR of 9.9% During FY’2010-FY’2015 – Ken Research

The flavor and fragrance industry has witnessed tremendous growth over the past few years especially during FY’2010-FY’2015 in India. The consumers in the country are steadily moving towards the packed and canned foods, which has heightened the growth of flavor segment in India. Various factors such as economic growth, rising prosperity, incline in urban class population and busier lifestyles have contributed to an inclining growth for flavors. Moreover, busier lifestyles in the country have triggered increase in consumption of ready to eat foods. For consumers unwilling to compromise on taste, health or convenience, flavor companies have been bent on innovating new products. The demand for flavors has widely enhanced over the last couple of years.
The India flavor market is diversified across several fragrance families such as vanilla, butterscotch, exotic flavors, blackcurrant, kesar and others. The market was dominated by vanilla flavor which remained the largest demanded flavor of the flavor market in India. Exotic flavors are also demanded at a wide scale, although it is a newer product line but still the demand is very high as compared to other flavors. These flavors generally include flavors such as strawberry, cranberry, mulberry and many more. Butterscotch and black currants were the third and fourth largest contributor to the overall fragrance market.

Flavor market in India has been segmented on the basis of types of applications which comprise beverages, bakery, confectionery, dairy, pharmaceuticals, tobacco and others. The Flavors used in the beverages have grossed the highest revenues for the flavor market. Confectionary has been the second largest revenue contributing segment to the overall flavor market in India during FY’2015. Dairy is the third largest product in flavor market of India, This product has witnessed a huge spike in terms of revenues owing to higher demand of flavored milk especially among urban households. The demand for pharmaceuticals products and tobacco have enhanced during the span of last five years.
The demand for flavors has been catered by two distinct sources: imports and domestic production. The demand for flavors in India is accomplished largely through domestic procurement. On the other side, the import demand for flavors was very low. In the coming years, it is expected that import demand for flavors products is likely to augment, which is anticipated to be driven through surge in personal disposable income, rising urbanization levels and growing preferences for foreign flavors.
The flavor market in India has been segmented on the basis of synthetic and natural flavors. Natural chemicals are those which are created from the edible products such as essential oils, oleoresins, fruits, leaves and several others. However, synthetic flavors are processed in laboratories using inedible things such as petroleum. It has been estimated that during FY’2015, synthetic flavors accounted majority of the overall flavor sales in India. The major reasons of the domination of synthetic over natural flavors is that the cost incurred and time taken in production is less in comparison to that of natural flavors .
For further detail follow the below mentioned link:
https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/india-flavor-fragrance-market-report/2127-95.html
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Paytm, Freecharge, Mobikwik and Airtel Money Dominated the Market Transaction Volume in FY’2015 - Ken Research

India bills payments market has grown at CAGR of 15.5% during FY’2010 to FY’2015 in terms of volume of bills paid. This market has grown piggybacking on the growth in the number of subscribers of Mobile, DTH, Data Card and utility services; higher internet penetration in India esp. through the use of wireless devices; increased access to electrical appliances & higher tariff charges resulting in higher spending on electrical bills and rise in prices cooking gas. Also, the emergence of online payment portals, mobile wallet companies and payment banks has enabled the growth in bills payment market by offering lucrative deals such as cash back or discounts thus providing more value for money to the customers. Intense competition and strategic collaboration among these participants will help scale up acceptance of digital bill payments and foster growth.

India bills payment market has been segmented on the basis of mode of payment into online bills payment market and offline bills payment market. Online bills payment is self initiated by the consumer and involves a digital payment while offline bills payment involves payment in cash to the billers or its designated payment outlet. The rapid growth of smartphone users, Internet penetration and e-commerce is driving the growth of non cash payments. There are a big number of mobile first internet users who do not need a laptop or a desktop to make an online bill payment. India bills payment market comprises of four major components namely, mobile bills payment, DTH bills payment, data card bills payment and utility bills payment.
Mobile wallet market in India is surging on account of growing online transactions, rising trend towards mobile banking, and ease of usage of mobile wallet applications. Mobile wallets have been transforming the digital payments landscape in India which in turn has helped mobile wallet bills payment market grow rapidly. Earlier, mobile wallets were used only for mobile recharges, which have now been extended to data card bill payments, DTH recharge and utility bill payments. However, during 2014-15, the use of mobile wallets surpassed the boundaries of bill payments and expanded its portfolio to include money transfers, e-commerce payments, payments for booking movie tickets, rail tickets with a host of other online bookings and payments.
The mobile wallet bills payment market in India is majorly dominated by a few large players, which have managed to gain dominance over the market in a very short span of time. The largest player in the mobile wallet bill payment market of India in FY’2015 was Paytm. Paytm is the first company that entered e-commerce space with mobile-first and wallet-first approach to e-commerce. Freecharge has been the second major player in the market of mobile wallets in India. It recently added metro card recharging as a feature of its platform. The wallet can be topped up with debit cards, credit cards and net banking.
India offline bills payment market stands for the market of cash bills payment. These cash bill payments can be made at the retail-cum-payment outlets or at the biller’s desk. Biller’s desk would mean the premises of the service provider as in case of the electricity service provider allows the customers to move to its premises to make a bills payment at the counter. During FY’2015, 94% transaction volume in the mobile bills payments market were generated from offline payment channels. In order to tap the vast consumer base in India the mobile and DTH service providers adopted a 2-tiered distribution channel. These providers appointed distributors and the distributor brought a number of retailers on panel.
For further detail follow the below mentioned link:

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-payment-services-market-research-report/625-93.html
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Sale of Apparel and Footwear in Philippines Observed Steady Growth CAGR of 7.3% during 2009-2014- Ken Research

Theapparel and footwear market of Philippines has been influenced greatly by their native ancestors. Filipinos had conformed their way of dressing due to three factors, namely, colonial influence, media influence and climatic conditions. The apparel and footwear industry of Philippines had become quite famous for its unique products. Philippines apparel and footwear industry has been largely driven by the demand for various local and international branded products in the country. The native population has majorly used crude weaving in order to manufacture garments since the Spanish era. The country has been continuously witnessing an increasing business and consumer confidence which has been stimulated by increasing disposable income of buyers, especially among young professionals in urban areas.

The value chain of apparel and footwear in the Philippines has been divided into two major categories, namely, international and local production. The products which are manufactured internationally are imported through traders majorly using sea routes and are then distributed to retail outlets across the country. Foreign brands have targeted popular shopping malls, retail outlets and their exclusive stores to promote and their sell their products in the local Filipino market. On the other hand, local manufacturing of apparel and sportswear products undergoes a series of steps before the availability of the finished product.

The fashion industry in Philippines has been comprised of two major products, apparel and footwear. The demand of both apparel and footwear in the Philippine market has remained strong over the years despite of several down-face factors. The year 2014 witnessed a higher demand of apparel products in comparison to footwear. The total sales of apparel have showcased a higher percentage share of the market during the review period 2009-2014 due to the demand of higher variety of usage in the daily lives of people. The Philippines also possesses a more tropical climate with high humidity and rainfall. Hence, the people tend to change apparel products on a more frequent rate than footwear due to the impact of sweat on clothes.

The footwear and apparel market in the Philippines has been subject to seasonal fluctuations. The months of May, October and November were observed as the high sale months in the country. Additionally, it has been observed that Filipinos were significantly attracted by discounts and clearance sales in the seasonal months which have assisted in the growth of the overall apparel and footwear market. The segmentation of the Philippines apparel market has witnessed stiff competition between the population below 14 years of age and those above 14 years. In the year 2014, the percentage share of the total revenues generated by the sale of apparels to the population below 14 years of age is higher as compare to those above 14 years.

Local manufacturing organizations which produce apparel products have majorly exported their products to international markets. Higher demand in countries such as the US and Japan has enabled traders to thrive in the Philippine apparel market. Exports of apparel have showcased a fluctuating trend over the timeframe 2009-2014 and have reflected a CAGR of 4.6%. The major countries that registered apparel imports from Philippines include the United States of America, Japan, Republic of Korea, Canada and Germany.

FOR MORE DETAIL FOLLOW THE BELOW MENTIONED LINK:

https://www.kenresearch.com/consumer-products-and-retail/textile-apparel-and-footwear/philippines-apparel-footwear-market/5245-95.html

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Growth in Furniture Export and Rise in Trend of Online Furniture Sales to Drive Future Growth of Malaysia Furniture Industry: Ken Research

MalaysiaFurniture Market will continue to grow at a considerable pace in the next few years owing to Increase in global demand of wooden Malaysia furniture which will increase the furniture exports, increase in trend of online shopping of furniture, increase in domestic demand of furniture, upcoming residential and non-residential projects, presence of online retailers and rise in competition in the country. The market is predicted to grow at a CAGR of ~% from 2015-2020 and is expected to reach USD ~ million by 2020. This industry is expected to find a growing demand from the major cities in the future on account of rising demand for branded products and increasing affordability. The market is expected to be driven by rising export, rising personal disposable income, changing Lifestyle, gradual shift of customer preference towards high end products, and presence of a large number of online retailers for residential and non-residential furniture items. The increasing expenditure on R&D, logistic and upgradation of current production process by companies will boost the market growth in the future.

Furthermore, initiatives taken by the government to expand wooden furniture industry and furniture export to other countries, increase in number of commercial units, increase in urban population will fuel the market growth.

The growth in residential furniture market will be driven by rise in personal disposable income and a gradual shift in customer perception to purchase branded furniture products. The growing need of the Malaysians for stylish and latest fashionable furniture will also fuel the market growth of residential furniture. Boom in E-commerce industry had also led to increase in online shopping of furniture in the country. Also, the growth in the hospitality sector and travel & tourism industry will enhance the structure of hotel industry in the country, which will lead to the growth of non-residential furniture market in Malaysia. Rapid growth in internet population, rising demand for online furniture and boom in E-commerce industry will increase the sales of online furniture market in the country.

“Increase in furniture export due to the increase in global demand of Malaysian furniture and expansion of real-estate sector, are anticipated to give a boost to Malaysia furniture market. Also, rise in personal disposable income, booming hospitality sector in the country will trigger the demand of furniture in Malaysia in upcoming years. Increase in labor cost, increase in cost of raw materials and huge fluctuation in the exchange rate are few of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.

The report titled “Malaysia Furniture Market Outlook to 2020” provides detailed overview on the Furniture market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for Furniture exporter, retailer, Manufacturers, e-commerce companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Related Reports:

India furniture market outlook to 2018 - online furniture sales gaining traction

Middle East Real Estate Market Outlook to 2019 - Demand For Destination Retail and Affordable Housing To Shape Future

India Kitchenware Products Market Outlook To 2020 - Growing Online Distribution Channels And Demand From Nuclear Families To Foster Growth

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Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Rising Online Matchmaking Services, Increasing Internet Users, Lucrative Discounts and Rising trend of Wedding Planners Market to Support India Wedding Market Growth: Ken Research

India Wedding Industry will continue to grow at a considerable pace in the next few years owing to rise in internet users, rising annual disposable income and changing mindset of the unmarried population in the country. The market for wedding planning is predicted to grow at a CAGR of 10.7% from 2016-2020. This industry is expected to find a growing demand from the unmarried population in the future on account of rising demand for online matchmaking services and wedding planners. The market is expected to be driven by increasing internet penetration, rising personal disposable income, lower prices relative to brick and mortar matchmaking service providers and presence of a large number of online matchmaking portals offering a variety of matchmaking services. The increasing expenditure on R&D by companies aiming to explore the possibility of innovative promotional methods which are cost-effective is expected to boost the market growth in the future.

Furthermore, introduction of new technologies, upcoming of new market players and online dating sites are expected to further fuel the market growth. Rapid growth in internet population and rising demand for wedding planners by the elite and high income group are major growth drivers for the India Wedding Planner Market. According to an industry veteran, “favourable consumer dynamics such as changing outlook among the Indian population especially in urban areas along with increase in personal disposable income would rise in the market in upcoming future.”

“Increasing internet penetration due to technological improvement and decline in the pricing packages of subscriptions, are anticipated to give a boost to India Online Matchmaking Market. Lack of awareness, increasing online frauds, orthodox mindset in rural areas and enhancing competition are few of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.

The report titled “India Wedding Market Outlook to 2020” provides detailed overview on the Wedding Planning and Matchmaking Industry. This report helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will be useful for online matchmaking service providers, major wedding planning companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Source : https://www.kenresearch.com/public-sector-and-administration/religion/india-online-matchmaking-report/7093-15.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

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