Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Are You There Yet? Why Not Asia?

Part II - World Market Brings You Asia!

In my six part marketing series: “World Market Brings You,” I always reiterate Retail Rule Three: “The world needs your product- get it to them!”

Second, I remind everyone there are seven continents - Africa, Antarctica, Asia, Europe, North America, Oceania and South America. Other than Antarctica, each represents a unique consumer marketplace that, with the help of World Market and payment by PinPay, is awaiting the arrival of your products. Are you there yet? We make it simple, Why NOT?



Market expansion
Review these facts, do your market research, and then try to convince me you should not be selling your products in Asia!

Product Presentation Delivery and Online Sales: History shows a decade of strong Asian growth in mobile services, broadband services and the digital economy. The number of Asian mobile users is expected to reach 3.2 billion subscribers at the end of 2012. Of the 22 countries in Asia, 18 countries in have over 100% mobile penetration, and two (Macau and Hong Kong) had impressive penetration levels of more than 200%.1

Asia presents a massive presence in the global mobile and broadband markets. The continent owns 49% of the world’s mobile subscribers. Also, in the development of broadband internet services, Asia makes a strong claim to be leading the world. By early 2012 Asia had a mobile broadband penetration of 11%. This represented 460 million mobile broadband subscribers in the continent. Two of Asia’s markets – South Korea and Singapore – had more mobile broadband subscribers than population by end of 2011 Japan was not far behind on 90% mobile broadband penetration. 1

The energetic expansion of broadband has certainly been more of a phenomenon in the developed economies of the region, but most of the relatively poorer developing countries of the region are increasingly adopting broadband at a rapid rate.1

Economic Status: During 2012 the International Monetary Fund (IMF) stated: “Barring the realization of downside risks to the global economy, growth in the Asia and the Pacific region is expected to gain momentum over the course of 2012.” According to this report, and now projected at 6 percent in 2012, rising to about 6½ percent in 2013, stronger economic and policy fundamentals have helped buffer the region's economies against the global financial crisis.” 2

The World Bank sees growth in developing East Asia and Pacific slowing by a full percentage point to 7.2% this year, before recovering to 7.6% next year. Of special significance is China's slowdown to 7.7% this year, down from 9.3% in 2011. But while that might seem like a significant drop, let us not forget that East Asia's growth rates would still be the envy of many in the developing world, let alone the developed world.
3

Question: To keep a perspective on this complaint of a slower Asian growth rate the US and EU economies are only growing at about 1% annually. Asia is growing at 7% annually. Which is the better market for you to be selling your products? Given these facts: Is it now clear that you need to be selling into the Asian continent?

Continent Core Numbers:

Number of counties: 22 4

Population (2012 est.): 3,922,066,987 5

Number of Internet users (6/12 est.): 1,076,681,059 5

Other facts: See by each Asia continent country in CIA Handbook and other reference sources.4
Market Expansion
Your Objections to Asian Expansion are:

Correct, the lower and middle income consumers in many Asian countries do not have large amounts of discretionary income. However, you do not need everyone to buy your products to make it advantageous to sell into Asia. You do not need to sell into every one of the 22 countries. Start with a few Asian countries and expand your market footprint when you are ready. When you are ready, adding one or more Asian countries to your World Market sales store takes about 5 minutes and there are no new fees.

Yes, within the Asian continent many languages are spoken. No, English is not understood by many potential Asian buyers, but World Market does offer product presentations in 66 languages, and if a buyer has the money and really wants your product, they will find a way to buy it online and it will be with online CASH!

Accepted, you do not have a warehouse in Asia but there are many shippers that will professionally deliver your products any where in the world, including all of Asia.


What if there are no shoppers or buyers? In a huge continent with 22 countries and a total population of 3.9 billion, are you serious? If you offer a quality product at a fair price there will be buyers. Setup you online store and try selling into Asia using World Market. If you offer a quality product at a fair price you will find buyers.

If you have more objections, click on Support Center and submit a ticket to the sales team and they will be happy to assist in finding acceptable solutions.

Research and confirm the data above, this important market is growing every day and Asian sales can be a valuable addition to your business growth plans. We are here to help- let’s move on it!



References:

1 http://www.budde.com.au/Research/Asia-Mobile-Broadband-and-Digital-Economy-Overview.html?r=51

2 http://www.imf.org/external/pubs/ft/reo/2012/APD/eng/areo0412.htm

3 http://www.bbc.co.uk/news/business-19879839

4 https://www.cia.gov/library/publications/the-world-factbook/wfbExt/region_eas.html

5 http://www.internetworldstats.com/stats3.htm

http://en.wikipedia.org/wiki/Continent

https://www.cia.gov/library/publications/the-world-factbook/

https://www.cia.gov/library/publications/the-world-factbook/rankorder/rankorderguide.html