Connect with us

Hi, what are you looking for?


As digital adoption rises, so do customer expectations — Bain & Company

In digital commerce, an “obsession” for the customer remains paramount, according to consultancy firm Bain & Company.

“The old rules of customer loyalty, customer obsession still prevail. … How you are thinking about how you touch the lives of consumers still pervade,” said Patricia Buenaventura Nichol, a partner at Bain & Company, in a fireside chat on consumer needs at the BusinessWorld Virtual Economic Forum Thursday.

“I think the digital arena has just exacerbated and provided another channel for doing that… Consumers are demanding the same things [user experience, convenience, pricing] they do in the physical environment.”

A 2021 study by Bain & Company found that 8 of 10 internet users in Southeast Asia are digital consumers. In the Philippines, the percentage of digital consumers grew from 54% prior to the coronavirus disease 2019 (COVID-19) to around 68% this year.

More than 70% of the study’s Filipino respondents said e-commerce purchases made their lives easier, with half (or 40-50%) expecting to continue using digital services.

The Philippines is catching up in terms of infrastructure, added Ms. Nichol. “With the incoming digital banking licenses, enablers and infrastructures are becoming more established,” she said. “You see this dynamic between merchants and consumers and enablers that allow consumers to realize these sorts of behaviors.”


Digital merchants are also optimistic about the digital economy, Bain & Company found. In the Philippines, 39% of merchants believe that they would not have survived the pandemic had it not been for digital platforms. Moving forward, 93% will either continue to use or increase their use of digital payments.

It hasn’t been an easy journey for merchants over the past two years, given that they had to navigate the use of new tools such as digital payments and analytics, said Florian Hoppe, Bain & Company’s partner and head of digital practice in Asia Pacific.

“But we’ve been surprised by their positive perceptions,” he said. “Three-fourths of merchants look at the digital economy positively… engaging with consumers and building personal, friendly communication channels have been a lifeline for these merchants.”

The big breakthrough in Southeast Asia is mobile-first shopping platforms, Mr. Hoppe added.

“Putting things onto your device as you transact online and making [the experience] as seamless as possible. That’s really opened up new areas of the economy,” he said.

The region’s internet economy is expected to reach up to $1 trillion gross market value (GMV) by 2030 given the continuing growth of transport, food, online media, and e-commerce. — Patricia B. Mirasol

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Have your team clocked less sick days during the pandemic but are now on the verge of burnout? You’re not alone … Providing right-first-time...


Have your team clocked less sick days during the pandemic but are now on the verge of burnout? You’re not alone … Providing right-first-time...


The UK government will invest £100m in Britishvolt as the car battery manufacturing startup seeks to build Britain’s first large-scale “gigafactory” in the north-east...


Bankers and accountants are among those being summoned back to their offices after the government scrapped its work-from-home guidance in England with immediate effect....


The kitchens of Michelin-starred restaurants too often descend into alternative “moral universes” where bullies and bad behaviour thrive, a study has suggested. While Gordon...


A company controlled by the Duke of York and used to manage his investments is more than £200,000 in debt, according to newly filed...

You May Also Like


THE PHILIPPINES is poised to end the year with a stronger economic growth, after a better-than-expected third quarter, experts said at the BusinessWorld Virtual...


The Philippines on Friday reported 310 coronavirus (COVID-19) infections, bringing the total number of infections to 2.84 million since the pandemic started in 2020....

Top News

Manufacturers face no dearth of options when it comes to bonding solutions in the modern era; however, over time, pressure sensitive adhesives are increasingly...

Top News

An integral component of the global economy, the automotive industry, a flourishing behemoth in itself, has been fraught with many challenges since the last...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 InvestmentDiets. All Rights Reserved.