ASEAN Perspectives #4: Southeast Asian Businesses Going Global
While many developed markets businesses have fruitfully expanded into Asian markets, fewer home-grown Asian companies have ventured the other way with similar success, but the tide seems to be changing…
The latest darling of these rare gems is a business called ShopBack, which has rapidly grown into a leading cash back and rewards platform. Since launching in 2014, ShopBack has experienced remarkable growth, establishing a strong market position across Southeast Asia & Australia, and promptly expanded into South Korea and Germany. Capitalising on the rapidly expanding e-commerce industry, which has grown into a USD 5.8 trillion market as of 2023, ShopBack utilises data analytics to offer personalised shopping experiences, and enhance customer engagement and satisfaction. This strategic approach is allowing the company to effectively penetrate and succeed across various international markets, strengthening its global presence and competitive edge…
