Australia-based IT player, OpenDNA Limited (ASX: OPN), powered by its OpenDNA hyper-personalisation Artificial Intelligence (AI) System, offers fully-integrated e-Commerce, digital marketing and customer acquisition services to boost online sales for its clients, particularly those companies with Australia and China-focussed sales strategies.
Twentieth-century is an era of Internet of Things wherein businesses must analyse Big Data. However, the gamut of data available is huge and businesses find it daunting to figure the best way to elevate its online presence and promote products and services to the right target customers at the most opportune time on online platforms.
There has been a trend; wherein online shoppers started ignoring broadcasted content with an increased expectation of personalisation. This particularly ignited the need to generate content that an individual customer would appreciate. OpenDNA is working on these lines with an aim to empower individuals by listening, learning and only then promoting their business. The company is playing a crucial role in ensuring the best possible experience for both businesses and consumers, enabling them to have a mutually rewarding engagement.
e-commerce and Digital Marketing
The past decade has seen an internet boom in conjunction with the emergence of online retail. The world is moving online, and the e-commerce industry is increasingly eating up the worldwide retail market. According to United Nations Conference on Trade and Development (UNCTAD), the global e-commerce sales grew by 13% to a remarkable ~ US$29 trillion and the number of online shoppers also shot up by 12% to 1.3 billion people in 2017, which is nearly one-quarter of the world’s population.
While most online shoppers purchased goods and services from domestic vendors during this period, the proportion of those buying from abroad increased from 15% in 2015 to 21% in 2017, indicating that times are changing, and the e-commerce market is flourishing with the cross-border business-to-consumer (B2C) sales amounting to ~US$412 billion, accounting for around 11% of the total B2C e-commerce sales in 2017.
The market participants are quite optimistic about the future of e-commerce industry which is as vibrant as ever as consumers are hooked on to their mobile phones, tablets and laptops and there has been a major global shift of consumer preference from physical stores to online platforms. Market participants believe that convenience and price comparison are the main drivers followed by the ability to shop 24/7, greater variety and options, free shipping, availability of hard to locate items, access to foreign products and not having to stand in long queues. From groceries to electronics to apparels, e-commerce has changed the face of shopping.
Having said that, e-commerce companies are extensively leveraging digital marketing channels for promoting their businesses. Some of the commonly used digital marketing channels include Search Engine Optimisation, Search Engine Marketing, Email Marketing, Content Marketing, Social Media Marketing, Display Advertising, Behavioural Remarketing, Mobile Marketing and Affiliate Marketing. Things are rapidly changing across the globe and technology is evolving. Purchasing powers of consumers is increasing and their behaviours are shifting by the minute, creating a big challenge for e-Commerce businesses to keep up! A brand that is out of touch with its customers cannot achieve any remarkable growth. The three most important goals of an e-Commerce platform remain discovery, engagement, and retention.
The power of digital marketing is phenomenal, which along with Artificial intelligence, as being offered by OpenDNA, is enabling companies in e-commerce to collect and process data in real time, derive hyper relevant insights to acquire customers, create brand value, drive online traffic and sales by offering the customers a more personalised experience.
Currently, OpenDNA’ key focus is to help Australian businesses to sell directly to Chinese consumers, and process payments via the WeChat and Alipay mobile payments platforms in AUD or CNY (with the option of along with access to Mandarin-language). OpenDNA provides full stack of services to brands for seamlessly tapping into the Chinese market including licencing, marketing, logistics, payment collection, processing as well as valuable insights into customer buying behaviour.
The company is actively commercialising applications for its AI system and Machine Learning platform, and eyeing to expand its revenue streams and customer base.
Why China. Well, there is a huge tourist traffic from China into Australia. Plus, China offers a huge e-commerce opportunity as online shoppers are expected to increase to over 1 billion in 2019 from 587 million in 2018 and currently 76% of the consumers use their smartphones to make online purchases. Besides, the e-commerce industry has strong government support in China. The company is particularly targeting opportunities in high-demand market segments like Vitamins, Minerals, tourism, Supplements, Skincare, Health & Wellbeing as well as AI.
Alibaba Single’s Day Windfall
A globally renowned successful example of digital marketing campaign is Singles’ Day shopping bonanza hosted every year by Asia’s biggest company, Alibaba Group Holding Ltd. The Chinese e-commerce giant recently witnessed resounding success when the extravagant Chinese consumers splurged upwards US$ 16.3 billion in less than 90 minutes on 11 November 2019, representing more than half of last year’s record haul for this 24-hour event.
This event goes on to show the appetite of Chinese customers, OpenDNA is well positioned to cater to the the burgeoning Chinese e-Commerce with its systems built on the company’s mobile payments and AI platform.
OpenDNA Limited has a market capitalisation of around AUD 9.26 million with ~ 272.5 million shares outstanding. On 12 November 2019, the OPN stock settled the day’s trade at AUD 0.035, climbing up 2.94% by AUD 0.035. OPN has also delivered a positive return of 9.68% in the last one month.
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