The New Trend of Rebates System Boosting the e-Commerce in Asia
By Neil Foo
The year of 2020 pandemic began to affect the Asia consumers how to shop, pay, eat, move and entertain, even learn to enjoy the rebate/cash back and rewards points upon checking out from the e-payment gateways.
Towards the mid of 2021, despite the improvement of the west after the mass vaccinations, the resurgence of the spike of the Covid-19 pandemic in Asia countries forced to lock down the social and economic activities in the recent months again.
People are buying Dviria Nano CD Disinfectant Solutions, Kleenso Hand Disinfection Liquids, Callie 4-Layer Masks on Asia reknown e-commerce platforms like Tao Bao, JD.com, Lazada; buying cloths from Shoppee, picking groceries, gardening, DIY items from Tokopedia, ordering foods on Grab and Gojek, and more…..
With the pace at which technology is rapidly evolving, it continues to revolutionize how Asia lives and how businesses operate.
The e-commerce industry has continued to witness exponential growth around the world, with an astonishing of USD 2.86 trillion in 2018 and is estimated to grow further to USD 6 trillion in 2022.
Asia Pacific market had a 35% economic growth rate in 2018 with USD 1.8 trillion retail e-commerce sales, positioning it to be a clear leader to achieve one-fourth of global e-commerce share by 2023.
At the same time, according to Dealogic, Tech M&A has totalled USD136.2 billion in 2020 in Asia at record high to continue as the pandemic spurs a shift toward virtual activities in the economy.
In April, Grab Holdings, the largest ride-hailing and food delivery firm in Southeast Asia, went public in the world’s biggest USD40 Billion merger with a special purpose acquisition company.
Grab’s rival Gojek and e-commerce leader Tokopedia have also announced a merger to create a multi-billion dollar tech company in Indonesia’s largest-ever deal.
Lazada, Shopee, Tokopedia are amongst the major e-commerce platforms contributing to the pandemic driven e-consumption particularly in South East Asia.
The Rebates Boosts the e-Commerce Sector
“Go & buy online to get some cash back immediately!”.
This is the new practice of the consumers these days.
Rebates or Cash Back has become an integral ‘business weapon’ for many businesses since precious data are collected on these spending patterns.
Following a research, Rebates would make consumers 76% more likely to make a purchase especially for the concept of O2O – Offline to Online !
According to the Infobusiness Research, the global market size for cash rebate industry from approximately USD 90.4 Billion in 2016 to USD123.2 Billion in 2020.
There are the names of rebate system active in Asia market such as Rakuten, Shopback, Rebate Mango, Getbats and more.
E-commerce is driven by the key roles of payment solutions (internet banking, credit /debit cards, e-wallets) and the innovative 3Rs ie. Rebates /Cash Back, Reward Points, & Referral System.
3Rs enhance the data collections for CRM (Customer Relationship Management) to establish “The Customer Loyalty- Stickiness”, “Profile Marketing” and “Remarketing” purpose.
Getbats is the wholesome of this 3Rs system which has become a rising star in the Asia region.
Getbats’s USP is basically a free membership system and free merchant systems allows merchants to access into all these precious data for themselves.
Getbats app or website is the No#1 platform in Asia offering the instant cash rebates to consumers for any purchases for both the O2O concept of online and physical shops purchase.
No other players are offering this unique feature, Getbats featuring FOC online streaming movie entertainment with the name of Seebats, converting the audience to become the potential users.
Seebats is serving thousand of movies from more than 155 Satellite TV like BBC, NHK, KBSWorld, China Central TV, Star Chinese Channel.
Getbats provides FOC (free of charge) membership, merchant onboarding, A&P tool, payment tool, rebates calculation,
As the first in the world, Getbats allows to have the merchant to know their customers and other merchant’s customers whilst other rebate platforms are keeping the members/customers information away from them.
This assists the merchants in gaining insights into customer behaviours and preferences.
Getbats will induce 8.3million TAM (Total Addressable Market) with the “Window Malaysia” for the inbound tourists flow to Malaysia, the high market “Pavilion Shopping Mall”, Alibaba’s own South East Asia e-commerce platform Lazada, Shopee & etc..
The existing partners are the regional big household names such as Lazada, Shopee, Master, Visa, KFC, Pizza Hut, Star Planet the concert organiser for Hong Kong superstar Andy Lau, Korea K Pop Group EXO, MATIC E Sports Event and more.
The Rebates System is the key role play of boosting the e-Commerce of Asia and the cash back industry is definitely a fastest growing and impactful industry to be worth watching.