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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Having a holiday sales strategy is important for online sellers, however developing a more in-depth strategy that focuses on each unique holiday can result in much higher sales numbers.

The holiday shopping season, beginning in late October and lasting until early January, is composed of three major holidays: Halloween, Thanksgiving and Christmas. In addition to the “big 3”, a few e-commerce related days have gained popularity over the years, including: Boxing Day (December 26), Free Shipping Day (December 18) and Super Saturday (December 19).

Here’s what you need to know in order to fully leverage each holiday and increase your sales this year:

Halloween – October 31

Did you know that 40% of shoppers begin their holiday shopping before Halloween?

This holiday is all about candy, parties, greeting cards, and most of all costumes. The National Retail Federation (NRF) predicts a decline in Halloween spending in 2015, likely due to people economizing by reusing Halloween costumes and decorations. To combat this, make sure you offer economy-friendly options for those seeking deals.

Thanksgiving – November 26

This holiday is all about giving, and not paying attention to it may result in you giving up sales! Popular items during the holiday include themed kitchen and household accessories, and lawn & garden, but the major things to look out for as an e-tailer are Black Friday and Cyber Monday.

With Cyber Monday (November 30) now the largest online spending day of the year, and Black Friday (November 27) the 2^nd largest, these two important days deserve an entire post of their own. Check out 5 Ways to Make History on Cyber Monday & Black Friday for more info.

Christmas – December 25

One of the most popular holidays of the year, for online sellers Christmas = $$. While some sellers focus only on the US market, this major holiday is popular around the world and results in amazing online sales in other global markets including Canada, the UK and Australia.

You’ll want to focus on three major groups when developing your Christmas sales strategy:

• Early Birds – these are shoppers who buy gifts months in advance and sit back while the remaining shoppers scramble to find the best deals. 40% of shoppers begin shopping before November; make sure to have your inventory and online store ready so you don’t miss out on this group.
• Last Minute Shoppers – having forgotten all about the holiday season, these shoppers are less picky and may be willing to buy “whatever they can get”. In fact, surveys show that up to 1 in 5 men don’t buy presents until Christmas Eve! As a seller, this is your chance to off-load some unsold inventory and less popular items.
• Post-Holiday Shoppers – these shoppers are either looking to take advantage of huge sales due to unsold products, or eagerly want to spend some of that holiday cash they received as presents. Make sure to retain some inventory and perhaps even launch a “post-Christmas” sale to take advantage of this group.

For more information on how to plan, build and execute your entire marketplace seller strategy, download the Marketplace Sellers Guide.

Need fast, low-cost payments from international marketplaces like Amazon, Lazada, or Wish? Sign up for Payoneer – it’s free!

Sign up now!

“A picture is worth a thousand words” – or in the case of e-tailing, a thousand sales.

Back in the mid-90s, plenty of people were ready to write off Amazon and other online retailers on the basis that people simply wouldn’t buy without touching the merchandise first. Almost 20 years on, with global B2C ecommerce sales expected to increase 5.7% year over year, reaching $885.70 billion in 2015, we can safely say that consumers can live without examining the merchandise in person!

One of the major factors that help potential buyers to make that leap of faith is the product image. Below are a few crucial tips to ensure your product images convert better. For more information on how to plan, build and execute your entire marketplace seller strategy, download the Marketplace Sellers Guide.

Quality

Your main image must be super sharp. You may think that you don’t have too much room to shine as Amazon, for example, are pretty strict in their style guidelines – pure white background and the products filling 85%+ of the frame. You want your images to be rich and clear so that the buyer feels that they know the product intimately. There’s no greater turn-off for an interested buyer than a grainy product image. Amazon recommends that your images be 500×500 pixels. Make sure that you adhere to the photo guidelines created by the marketplace that you are selling on.

Size

Don’t get carried away by uploading huge images. A famous study by Amazon found that every 100ms delay in page load time led to a 1% loss in sales. Intuit similarly found that each 1 second improvement in page load times yielded a 3% increase in conversion. Online shoppers lack patience so don’t keep them waiting! If your images are too large, do a quick Google search for image resize tools and optimize your images accordingly.

Video

Among your “other view” images, consider introducing a video. There is no better way to showcase a product than displaying it from all angles and in actual use. The Oxo brand is a great example of how to bring products to life with engaging video.

Graphics

On Amazon, you have freedom to do cool stuff with your “other view” images. Most etailers let this opportunity pass by not taking advantage of the flexibility. Text and demonstrative graphics are allowed, so use them! Spigen’s iPhone 6 cases do this brilliantly, empowering their images to engage buyers with their key features and messages.

Backgrounds

If you take your own photos, you must have a decent camera and a tripod so you can shoot steady. In many cases you must have a white background but with Amazon your “other view” images can have any background so consider alternatives.

Multiple Angles

Most products have more than one dimension so make use of your other images to show the product from all angles. If your product is one that people typically hold or wear, include images of it in action. With multiple variations, make sure that every child item also has an image such as this Nike Polo Shirt and that they are identical in style.

Need fast, low-cost payments from international marketplaces like Amazon, Lazada, or Wish? Sign up for Payoneer – it’s free!

>>Sign Up Now!

The holiday season may be a few months away, but for professionals in the world of e-tailing it starts now. Preparing inventory, identifying the top selling items, leveraging social media, and preparing for Cyber Monday are just a few things that need to be planned out now in order to take advantage of the holiday rush.

Whether you’re an experienced e-tailer or just getting started, you’ll want to make sure to leverage every resource in order to optimize your earnings this year. To help you do that, we’re excited to announce the Essential Holiday Guide – 12 Top Tips for Online Sellers 2014!

Throughout the months of October and November we’ll be providing you with essential e-tailing tips that will guarantee to improve your business and help you take advantage of the many opportunities for e-tailers in 2014.

In the 2013 holiday season, an incredible $25.6 Billion of merchandise was sold on Amazon alone, and that’s not to mention the many other ecommerce giants around the world. With the addition of several newcomers to the ecommerce arena, 2014 is set to break global records in online sales.

Read more and view the first tip of 2014: “6 Ways to Make Your Product Images Sell More”