Kaben Announces Launch of New OMS Software to Simplify Cross-Border E-Commerce Between Southeast Asia and China
BANGKOK, THAILAND / ACCESSWIRE / May 10, 2024 / Southeast Asia is on the rise. For several reasons-diversification of supply chains, fast-growing populations and an untapped consumer base, and being attractive for foreign direct investment (FDI)- the region is growing rapidly. E-commerce has experienced unprecedented growth, thanks in part due to Covid. 41% of global retail sales will be conducted as e-commerce by 2027, up from 18% in 2017.
The last several years have seen the rise in use of other digital tools. 5 of the top 10 countries in the world by digital wallet adoption are in ASEAN. Indeed, Southeast Asia is on the rise in e-commerce. Now Kaben, a new player, has entered the scene.
The OMS market in e-commerce is filled with well-known names: IBM Sterling, Brightpearl, Zoho Inventory, etc. Now, Kaben emerges. For countries in Southeast Asia, who are interested both in cross-border commerce with themselves are most interested in the Chinese market. Kaben is the OMS soft for this. With all the specs of its competitors, It will facilitate the expansion of Southeast Asian countries into the $4 trillion Chinese market by being designed specifically for cross-border commerce in Southeast Asia and China. User penetration in China of e-commerce remains about 80%, with total sales culminating in nearly $4 trillion in value. To put this in perspective, if Thailand captured just 1-2% of the Chinese market, that would amount to $10-20 billion (350-700 billion baht).
Kaben will facilitate easier transactions by addressing several challenges. Specifically, those related to logistics, consumer preferences, and payments. Credit card use is comparatively low in the region with consumers favoring digital wallets or bank transfers. China maintains the highest mobile payment usage of any market in the world. The gross value of digital payments across the six largest ASEAN economies reached $806 billion in 2022, and is forecasted to reach $1.2 trillion by 2025. Account ownership at a financial institution or with a mobile money provider shows mobile payment is the preferred method.
Southeast Asia will sustain 15-25% annual growth for the next five years. People in Southeast Asia spend more time on their phones than almost anywhere else. Shopee, Lazada, etc., are used daily. Given the rapid growth and potential of social and live commerce-where both the number of users who are "social shoppers" and projected market value have boomed-Southeast Asia is poised to become the next global commerce hub.
As countries look to capitalize on growth opportunities in China, new technologies will play a decisive role. The advent of OMS software like Kaben will streamline the process for those in Southeast Asia interested in selling their products to China.
With integration of Chinese platforms, emphasis on cross-border commerce within Southeast Asia and to China, integration of social and live commerce, and addressing of systemic e-commerce challenges, Kaben will be the key to capturing growth.
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Media Contact:
Preem Visanuyothin
Flowfusion Technology
+66928364505
media@kaben.asia
www.kaben.asia
SOURCE: Kaben
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