November 22, 2018
HONG KONG, November 22, 2018 - Worldpay, Inc. (NYSE: WP; LSE: WPY), a global leader in the payments technology industry, is predicting the biggest Black Friday ever for businesses in Asia-Pacific, as consumers across the region capitalise on the deals and discounts during the shopping festival.
New data from the payments processor reveals that Hong Kong led the way for Black Friday growth, with eCommerce spending up by 46 percent year-over-year. Singapore also saw strong growth in 2017, with sales up by 21 percent, while spending in Australia rose by 18 percent compared to the previous year.
China saw the lowest levels of growth in the region, with sales up just 10 percent year-over-year, perhaps due to consumers being all shopped out following a $30.8 billion Singles’ Day shopping frenzy1.
Worldpay is expecting this Black Friday to be a bumper sales day for online businesses across the region, as consumers gear up for the festive period and retailers create a buzz with enticing offers and promotions.
Due to the continued popularity of major shopping days such as Black Friday and China Singles’ Day, companies must be prepared for an increased demand in parcel deliveries, with the correct technologies in place and robots likely to be relied on more heavily. When it comes to the concept of receiving drone deliveries and making payments via autonomous technology, shoppers in Asia Pacific are some of the most confident globally, according to research released by Worldpay earlier this year – with 70 percent of consumers in China and 52 percent in Singapore comfortable with drone delivery.
The top eCommerce giants such as JD.com, Alibaba and Suning are actively engaged in the commercial experimentation on unmanned vehicles to help speed delivery and cut operational costs2. For example, Alibaba has just opened the largest automated warehouse in China with over 700 robots to cope with the demand of the 11/11 shopping surge3.
Commenting on the data, Phil Pomford, general manager for Asia Pacific, Global Enterprise eCommerce at Worldpay, said: “Although far from reaching the heights of China Singles’ Day, Black Friday is continuing to cement its position in the Asia-Pacific retail calendar, with eager shoppers on the tip of their toes ready to grab a bargain. With mCommerce growing faster than any other shopping channel in APAC’s burgeoning eCommerce market, Black Friday will be increasingly driven by mobile this year.
“As major shopping days continue to grow, merchants will need to experiment with new ways of innovating their supply chain capabilities to keep pace with demand. Over the coming years, the use of robots and drones will likely become commonplace, as consumers become increasingly comfortable with non-human interactions, and demand instant gratification when purchasing products. Brands that tap into the autonomous trend, and offer faster and more convenient deliveries, will be the ones that thrive in the competitive retail landscape.”
About the data
Figures quoted are according to Worldpay’s Global Enterprise eCommerce transaction data for businesses in Australia, China, Hong Kong, and Singapore on Black Friday 2017 vs 2016.
The Drone Pay research was compiled in partnership with Opinium and interviewed over 20,102 consumers about their opinion on the Internet of Things and drones. Research was conducted in 10 markets – Australia, Brazil, China, Germany, the Netherlands, Spain, Sweden, Singapore, the UK and USA.
Any indicative predictions based on the data we have used should be treated as such. No representation or warranty, expressed or implied, is made by Worldpay, Inc. and/or any of its affiliates, directors, officers, employees, agents or advisers as to the reliability, accuracy, timeliness or completeness of any information, opinions or analysis contained in this document, which is not intended to be relied upon by you or any person for any purpose whatsoever.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.