Posted on : May 4, 2017
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Garena Group president Nick Nash explains that the number of product SKUs in Asia will grow exponentially over the next few years, driven not by traditional offline retailers but by 20 to 30 million third-party sellers in the region. Garena’s secret to success in the region is harnessing technology and remaining loyal to locals. Adopting a multilocal mind-set is in the DNA of Garena Group, based in Singapore. The company’s Internet platform is transforming many of the day-to-day transactions performed throughout Southeast Asia—creating local top-up networks to digitize cash, combining chat messaging with forms of payments and content, and leveraging social-media networks to drive e-commerce. With innovations such as these, the opportunities to capture this market continue to grow. Source: McKinsey.com