The digital economy — built on the ability to sell and purchase products and services online — has had a profound impact on businesses around the world. Among the most noticeable changes are an almost instantaneous access to a gigantic market, and, inevitably, an intensification of global competitive pressures.

As a key enabler of the digital economy, Payoneer took a closer look at how the digital economy has affected countries and people in the world. Here are some of the unique insights into the careers, lives, and aspirations of some of our most experienced and successful customers in 11 countries in Asia — Bangladesh, China, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Thailand, and Vietnam.

The Big Equalizer

From Pakistan to The Philippines, the digital economy has ignited the entrepreneurial spirit everywhere, helping people generate extra income, often replacing traditional sources of income in places where local jobs were lacking. It has been a big equalizer for people who have been able to pursue their dream jobs, no matter where they live in the world. Goodbye 8 to 5; hello freedom!

Is this opportunity available to everyone? Barriers still exist, whether it is language, marketing skills, or access to capital. But for the most part, the internet and marketplace platforms have alleviated these challenges. Fear of change might be the only real barrier left. Anybody with a fire in their belly and a good idea can participate. The digital economy has opened the doors to a world market from the comfort of one’s home.

Money, Money, Money

Many digital workers have become very successful financially. Money is far from being the most important benefit though. Freedom and independence are even more valuable to them, especially when it comes to managing their own time. Successful digital entrepreneurs have been able to enjoy their new financial resources. This means they can travel to places they wanted to visit, or live in a country they love — where life is more affordable — while working on their business. Of course, what has made this win-win situation possible for buyers and sellers is the creation of highly efficient online marketplaces that have opened global markets to entrepreneurs like never before.

A New World View

Participants in the digital economy say their world has become bigger and smaller at the same time. Bigger because business opportunities are larger; smaller because the world is so much more accessible. Participants have been able to build successful relationships, even friendships, with buyers and clients all over the world. With this has come a deeper sense of trust between people.

Although in many cases the digital component of the new economy has eliminated human interactions, this new economic system has allowed the best of human nature to shine in new ways. Overall, participants feel confident about the future of their country and of the world. They are sharing their recipe for success with friends and family, and are supporting each other through online and offline communities.

Wish List

Optimism runs high among digital workers in Asia. Most of them feel that there is so much more to do, starting with separating business and politics, giving equal opportunities to everyone in all countries, but also the ability to be paid instantly, website pages that get translated automatically, and backend systems that communicate seamlessly with each other.

Read our full ebook here for more facts and insights, and feel free to share your comments or questions.

If you’re selling on Amazon you’re in great company. Last year, more than 2 million marketplace sellers sold more than 2 billion items, worth tens of billions of dollars. The sales competition on Amazon is fierce, with the same product often sold by multiple merchants (and sometimes Amazon too).

In every sale, only one seller wins and the major factor determining who makes the sale is the Buy Box. For more information on how to plan, build and execute your entire marketplace seller strategy, download the Marketplace Sellers Guide.

The Buy Box highlights which seller offers the best overall customer experience and value. Only one seller can be chosen and featured within the “Add to Cart” button on the right of the product page, so the million dollar question (quite literally in some cases) is how do you increase your chances of winning the Buy Box?

Here are 5 important lessons that will help you win the Amazon Buy Box:

1. Aim for an Excellent Seller Rating – The Seller Rating is an overall assessment of customer experience. Reliable sellers are a better option for consumers as they are more likely to get high quality products, on time, and with great customer service. Sellers with the highest seller rating will have first shot at the Buy Box. A few key metrics to keep in mind that affect seller rating:
   1. Perfect Order Performance (POP) – percentage of orders accepted, processed and fulfilled without issues
   2. Order Defect Rate (ODR) – percentage of orders which generate negative feedback
   3. Pre-Fulfillment Cancellation Rate – how much of your products are in stock
   4. Last Ship Rate – number of orders confirmed after the promised shipment date
   5. Percent of Orders Refunded – this may indicate inaccurate stock or faulty products
2. Consider Your Fulfillment Method – Sellers that use Amazon’s fulfillment service have a much better chance of winning the Buy Box. If you’re a new seller and keen to acquire Buy Box eligibility you can speed up the process by selling select items through Amazon’s fulfillment services, which can help you to receive eligibility on all items, even those not fulfilled by Amazon.
3. Lower Your Landed Price (but not too much!) – Price isn’t the “be all and end all” but a low total price (including shipping in the US, or shipping and VAT in Europe) can certainly help. Keep a careful eye on the Buy Box winning price within the “manage inventory” page and stay competitive!
4. Shorten Your Shipping Time – Much like pricing, how long an item takes to ship and the projected shipping vs. actual shipping time both impact your ability to win the Buy Box. For time-sensitive and perishable items, shipping varies, but Amazon generally weighs shipping based on the following time frames: 0-2 days, 3-7 days, 8-13 days and 14+ days.
5. Keep Stock Available – Amazon wants shoppers to find what they are looking for and if your item is Out of Stock, Amazon will get it from another seller. Furthermore, if you have no current stock, you cannot win the Buy Box. The more you maintain product stock and ensure that your inventory information is updated, the better your chances of winning the Buy Box.

For further tips on winning the Buy Box, take a look at Feedvisor’s Buy Box Bible.  Need fast, low-cost payments from international marketplaces like Amazon, Lazada, or Wish? Sign up for Payoneer – it’s free!

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Last year, Cyber Monday was the biggest single online shopping day on record- $1.25 billion spent online that day. And guess what? This year, they’re expected to spend even more. But things have changed in recent years.  Cyber Monday has morphed into Cyber week- a last chance opportunity for deal-seekers to score big savings before Christmas. It’s no doubt that Cyber Week is an exciting time for eCommerce sellers and to help you get the most out of this time, we want to offer a few Cyber Week selling tips:

Segment Your Audience

If you have multiple audience segments, consider multiple deals. For instance, a marketing campaign promoting your higher end products should have a different offer than a campaign promoting lower end items. There’s no such thing as one great offer for all of your customers.

Get Social

If you’re active in social media, consider offering exclusive deals to your Facebook fans and Twitter followers. After all, this is probably one of the reasons they’re following your brand, and it’s certainly something they’ll appreciate.

Offer Creative Promotions

More and more, eCommerce shoppers expect free shipping, and while it can get you attract some shoppers, you’ll likely have to bring a little more to the table in order to get the sale. Try things that will encourage repeat customers and purchases, such as offering gift cards, or by creating a membership club in which customers get exclusive deals throughout the year.

Get Ready to Spend

So you spent all this time coming up with the perfect Cyber Week deals, only to realize that nobody hears about them. During Cyber Week,  be prepared to spend some money in order to get the word out on your brand and promotions…

• Increase your  pay-per-click budget
• Leverage email marketing (Utilize your own lists and find external lists with relevant audiences)
• Make sure your affiliates know about your promotions
• Consider promotions on daily deals websites
• Launch a Facebook ad campaign. Check out our guide: FB Ad Tools for E-tailers

Be Prepared for Fulfillment Demands

The huge shopping frenzy combined with all of the one-day deals can easily make Cyber Monday overwhelming for eCommerce sellers. Make sure you can handle traffic spikes on your website as well as the fulfillment rush, meaning you have enough inventory, supplies and staff. If you don’t think you can handle it, now is a great time to find out how “Fulfillment by Amazon” (FBA) Can Increase Your Holiday Sales.

Our Predictions for the 10 Most Purchased Items During Cyber Week

1. HDTVs
2. Tablets
3. Smartphones
4. Clothing, specifically shoes
5. Laptops
6. Children’s Toys
7. Video Games
8. Microsoft Xbox One
9. Sony PlayStation 4
10. Nintendo Wii U

We hope you have wonderful and prosperous Cyber Week.  Do you have anything to add to our suggestions?  Tell  us in the comments below!

For etailers, it’s the height of the selling season, and November/ December retail sales are expected to climb 5% over last year, the largest increase in holiday season sales in several years. And marketplaces like Amazon, ebay and even niche sites are opening the door for sellers from around the world to take a piece of the pie.

Scott Galit, CEO of Payoneer says, “E-Commerce is growing faster than physical retail, but marketplaces are growing faster than e-Commerce.”  There are more than two million third-party sellers on the Amazon platform and while Amazon had an approximate 20% growth of year-over-year net sales in Q4 2013, the sales growth of third-party sellers over this same time period averaged between 40% and 50%. At Payoneer, we’ve seen for the past three years that the volume of sales increases 400% from June to December, and this year is even expected to surpass this growth rate.  Moreover, the impact of online sellers from countries such as China, South Korea, Japan, Pakistan, Australia on Amazon sales continues to rise, with payouts volume to Asia tripling over the past 12 months.

With the holiday season being the most important time of year for etailers, let’s take a look at some growing trends:

1. Singles Day is a Game Changer

Singles’ Day has become the largest online shopping day of the year, surpassing Black Friday and Cyber Monday sales figures by leaps and bounds. This year, online retail giant, Alibaba, reported $9.3 billion in sales, up from $5.75 billion from 2013…that’s 60% year over year growth! To help put Singles’ Day’s economic impact into perspective, “Cyber Week,” in the U.S., which combines Thanksgiving, Black Friday and Cyber Monday sales, generated $2.9 billion in 2013, according to ComScore.  If you missed Singles Day, be sure to put it on your 2015 to-do list!

2. China’s Consumer Potential

The record sales of ‘Singles Day’ are indicative of changes in consumer habits…specifically Chinese consumers. The Internet, for instance, attracts people within China’s second- and third-tier cities that aren’t well serviced by traditional retailers. Online shopping has drastically lowered costs and will continue to grow at a rapid pace, even boosting China’s future economy. As the world’s second-largest economy and world’s largest manufacturer, we are starting to see more Chinese beginning to consume the items they produce.

3.  No More Big Spenders

According to CFI Group, shoppers are planning on spending less money this year and purchasing for fewer people. We can see from Alibaba that the average order on Singles Day was only $33.50. Emarketer states that “forty percent of 25- to 34-year-olds will be motivated most by sales and coupons, compared to just 29% of the population on the whole. As shoppers age into the bracket of those with young families, discounts and deals dictate their holiday shopping habits more. Forty percent of 25- to 34-year-olds will be motivated most by sales and coupons, compared to just 29% of the population on the whole.” As shoppers continue to work smarter with smaller budgets, they turn to discounts and promotions, which means etailers need to run targeted campaigns to attract shoppers looking to save.

4. Mobile Commerce = Mobile Marketplaces

With discounts and deals top of mind, research-savvy shoppers will use mobile devices to find the best promotions for the season. And what better way to find great deals than mobile first marketplaces like Fancy, Wanelo, Polyvore, or Fresh, woo savvy mobile users. Designed as a mobile-first application, Wish uses matching technology to deliver a visually engaging, entertaining, and individualized shopping experience, which drives a very high engagement rate among its users: repeat customers make up approximately half of all purchases.  Business Insider states, “purchases made using a smartphone or tablet rose 48% year-over-year (YoY) in the second quarter of 2014, to about $8 billion. That’s three times faster than desktop-based e-commerce, and the fastest increase in mobile commerce spending since the first quarter of 2012.”

5. Improvement of shipping networks

For those unwilling to buy online, shipping costs seem to be the hang up. Nearly half of consumers who said they’re spending less online this year cite the cost of shipping caused they to abandon card. Large marketplaces like Amazon and their Fulfillment by Amazon (FBA) offer advanced fulfillment networks with free shipping and world class customer service . eBay recently announced that it is partnering with major retailers to offer same-day delivery for the holiday season by sourcing products from local brick & mortar retailers.

Online shopping — and more broadly, online engagement — is becoming increasingly important to the strategy of online sellers. With ecommerce becoming a truly global market, we’ll see a shift in buying patterns, how people choose to engage, the desire for more feasibility, and of course, mobile friendly solutions. What predictions do you have for the holiday season and beyond?