Can't read, won't buy - why English is not enough to bring you global e-commerce success

Tuesday, 15th April 2014

According to E-commerce Facts, 87% of consumers who can't read English don't buy products or services at English-language websites.

"This was revealed in Common Sense Advisory's recent report based on a survey of 3,002 consumers in non-English-speaking countries, including Brazil, China, Egypt, France, Germany, Indonesia, Japan, Russia, Spain, and Turkey. We conducted this 10-nation poll in the official language of each country. The report is titled:  "Can't Read, Won't Buy," updates our oft-cited 2006 report on global consumer buying preferences."

"These findings contradict the longstanding assumption that many people on the web feel comfortable enough using English to buy products and services.
55% of the 3,002 respondents buy only at websites where information is presented in their language. For those with limited English, the preference for mother-tongue purchases increases to 80% or more. Key findings include:

  • 60 percent  rarely or never buy at English-language sites.
  • 56 percent either spend more time on sites in their own language than they do in English -- or boycott English-language URLs altogether.
  • Local-language preferences vary by country. The percentage of those who buy only at local-language websites jumps to more than 70percent of consumers in Japan. Other countries with more than half of survey-takers favoring purchases at properties in their language include France (61percent), Turkey (61percent), Germany (58percent), and China (54percent).
  • Global brands can trump language, causing prospects to choose such products over one with information in their native tongue. Nationalities that are most infatuated with global brands despite the language hurdle are the Egyptians and Chinese. Those least won over are the Germans, Turks, and Japanese."

Turkey: online sales up by 40% in 2013

Friday, 11th April 2014

According to this, in 2013, online sales in Turkey jumped 40% as compared to 2012, with over 50,000 ecommerce portals operating in the country.

"The findings of Turkey B2C Ecommerce Report 2014 indicate that the boost in ecommerce was led by the growing internet and mobile penetration, as well as developed logistics and high bank card use. Results show that 50% of the Turkish population use the internet, the highest percentage registered in a European country, falling on second place only concerning the amount of hours spent online (30 hours per user)."

"Research also reveals that internet users in Turkey are the youngest in Europe, with an increased interest in B2C ecommerce websites. A quarter of all internet users shop online, a share that grew slightly from 2012. The percentage of female internet users is growing, even though there are still more male online shoppers than female. Credit card is the preferred payment method in B2C ecommerce transactions."

Netcomm Suisse joins Ecommerce Europe

Wednesday, 9th April 2014

The Switzerland-based ecommerce association NetComm Suisse has joined Ecommerce Europe, the European umbrella organization for ecommerce consisting of associations and companies selling products and/or services online to consumers.

"Founded in June 2012, NetComm Suisse is the Swiss association of ecommerce operators and digital communication. NetComm Suisse supports the expansion of the sector, sustains associated business development and strengthens consumers’ confidence towards the online sales channel through trainings and seminars, events and workshops, lobbying activities and financing and promotion of research."

"According to recently published facts and figures by Ecommerce Europe, which were conducted in collaboration with NetComm Suisse, the Swiss online environment is a strongly developing market. Just over 5.2 million Swiss citizens bought goods and services online, with a total online sales of EUR 9.1 billion in 2012. This equals an increase of 15.5% compared to 2011. Ecommerce in Switzerland was expected to grow by almost 12% to EUR 10.2 billion in 2013."

"The Swiss are shopping outside of their national borders due to the relatively high prices in Switzerland, paired with the fact that each region in Switzerland borders a country with the same official language: France, Italy, Germany and Austria. Swiss shoppers spent EUR 7.3 billion online and offline in other countries in 2013."

Source here.

TPPPA to launch compliance management system

Wednesday, 9th April 2014

According to this, the Third Party Payment Processors Association (TPPPA), the newly formed not-for-profit industry association representing and promoting the interests of payment processors, their banks and merchants, has revealed plans to launch the inaugural version of its Compliance Management System (CMS).

"The CMS' policies are designed to meet the specific needs and responsibilities of both processors and their financial institutions to support overall compliance. Furthermore, via CMS, TPPPA provides its processor and financial institution members the tools to navigate the sheer number of rules, regulations and guidance set by regulatory agencies and rule-making bodies, such as NACHA."

"The processor module contains over 15 policies specifically written for payment and payroll processors that incorporate guidance for due diligence and enhanced due diligence. These policies include ACH, Red Flags, BSA/AML/OFAC, Privacy, Consumer Complaints, UDAAP, Compliance with Telephone Consumer Protection Act, Compliance with Fair Debt Collections Act, Compliance with Fair Credit Reporting Act."

"The CMS processor module gives each processor the ability to customize their procedures to fit their unique processing environment while remaining in alignment with the association's standards."

"The FI module is geared toward financial institutions that have third-party payment processors as their clients, and helps incorporate their existing policies into a cohesive program for third-party payment processing. This module highlights issues that a financial institution needs to address to ensure proper due diligence and ongoing monitoring and management of their processor relationships."

"All policies have been created to address the oversight of relevant regulatory agencies, including FDIC, OCC, FRB and FinCEN."

"Content included in both CMS modules focuses on broader categories, such as risk assessment (due diligence and underwriting), agreements, merchant training, ongoing monitoring, periodic review, and reporting suspicious activity and termination of merchant."

Online retail in India on the rise

Wednesday, 9th April 2014

According to this, online retail in India has witnessed a considerable increase, accounting for almost 1 million online retailers, according to a recent report.

"Findings from Internet & Mobile Association of India (IAMAI) indicate that online retail reached almost USD 10.5 billion registering a year-on-year Compound annual growth rate (CAGR) of 34% since 2009. The same source mentions that the figure is expected to increase further as policy and FDI issues are addressed and delivery logistics come of age."

"This growth in the online retail space in India is the result of a global trajectory, with agglomeration and consolidation in the online retail business being strong indicators of the business model fundamentals, according to industry experts. These online retailers represent a very wide range of categories including electronics, books, apparel, accessories, footwear and jewellery."

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