This year will see brands expanding globally as e-commerce booms in emerging markets, according to new research from CJ Affiliate, who revealed that more retailers and brands will be expanding their affiliate programmes beyond mature markets like the UK and US as demand grows and more consumers shop internationally.
Mexico, Malaysia and the Philippines saw the biggest increase in e-commerce spend in 2019, followed by India and China, and this is only set to grow further in 2020, making these markets vital for marketers.
“Most retailers will be aware of the substantial opportunities to be had in mature markets. Dig a little deeper, though, and you’ll find so many hidden gems that are now generating billions in online revenue and many brands are missing out by neglecting them,” explains Jules Bazley, Regional Vice President, Europe at affiliate marketing network CJ Affiliate.
“Expanding affiliate programmes in markets such as these could have been a risk ten, or even five, years ago, but e-commerce growth of over 30% compared with the year before, have made them the logical next step for marketers.”
According to an Accenture and AliResearch report, it’s expected that more than 900 million consumers will shop internationally by the start of 2020, importing $994 million worth of products and services – three times as much as 2015. Increasing access to the internet and accessibility of mobile are major drivers behind the growth in e-commerce spend, connecting those who can’t afford a desktop or tablet, as well as growing numbers of new sellers and secondary industries, adding to market momentum.
“As a result of more consumers being able to shop abroad, and the ability and willingness of businesses to expand abroad, we’ve witnessed huge demand among advertisers for local market experts, offering the capabilities to recruit publishers in emerging territories and supply granular insight into the potential of each region,” added Bazley.