Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

Digital Consumer View 2016 (Asia)

Digital Consumer View 2016 (Asia)

Asia is in the midst of the great digital revolution with an explosion of options for smart devices, social media interactions and eCommerce transactions. 

While this metamorphosis has greatly enabled and empowered consumers, it has also challenged the effectiveness of businesses in the way they communicate and market to the modern, savvy digital consumer. Organisations now increasingly find themselves having to focus on consumer centricity in a bid to outperform and stand out against their competitors. For marketers, therein lies the need to go beyond grasping industry trends and best practices, to understanding the behaviors, preferences and needs of consumers. 

 

That is why the Digital Consumer View report is so important. It presents a true on-the-ground view of consumer sentiment in relation to digital marketing and helps marketers better align and optimise their marketing strategies. 

 

Commissioned by Experian, IDC conducted an online survey with more than 1,200 digital consumers across six Asian markets: Singapore, Malaysia, Indonesia, Thailand, Hong Kong and China. 

 

The findings revealed:

  • The combination of rising incomes, increased consumption, acceleration of Internet use, and the proliferation of mobile broadband access is unlocking massive opportunities for mobile marketing in Asia
  • Regional trends show that while "traditional" digital marketing channels including SMS and email remain valuable, the rapid adoption of connected mobile devices in parallel with the evolution of analytical software is pushing customer engagement to "newer" channels including social media, chat applications, and app notifications. 

Keen to understand more? Get a copy of this report today!

Read full article

Experian

By Experian 12/18/2017

2016-Digital-Consumer-View-Asia-Report-Experian

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