Asia-Pacific shoppers like buying online

Bargain hunters in Asia-Pacific are using the Internet to seek out best buys from online merchants and auction Web sites, according to the Visa e-Commerce Consumer Monitor.

The survey found that the most important reason for respondents to shop online is to compare prices and save money (42 percent), followed by searching for bargains or discounted items (24 percent) and saving time (23 percent). The ability to compare prices and save money was the top reason cited for shopping on the Internet for respondents from Korea (54 percent), Australia (52 percent) and Japan (41 percent).

“Budget conscious consumers in Asia-Pacific know that some of the best buys are on the Internet. As online merchants across the world offer attractive promotions during lean economic times, there is no better lime for consumers to land cheaper buys from the Internet. From knick knacks to branded goods, online shopping is not only a smart way to save money, but is also a convenient way to browse a retailer’s full range of products whether at home or abroad,” Bob Joubert, visa country manager for the Philippines, said.

Across the region, more than three in five respondents said they have participated in online auctions-79 percent said they participated in an online auction on a local Website and 69 percent have participated in an online auction on an overseas Web site.

Heading the list, respondents from Hong Kong (91 percent) are the most likely to have participated in an online auction on a local Web site, followed by Australia (87 percent) and Korea (77 percent). Overseas online auction Web sites are most popular with respondents from Hong Kong (83 percent), Australia (72 percent) and India (71 percent).

“Online auctions remain popular among bargain hunters as it allows consumers to bid for products at prices they feel comfortable paying and helps keep spending within their budget,” Joubert said.

The survey also revealed that over the next six months, Asia-Pacific online consumers are more likely to spend more on local Web sites ($797) than overseas Web sites ($634), and respondents from Korea ($3,205) have the largest budgets for online shopping, followed by Singapore ($1,138) and Hong Kong ($1,062). Access in local currency in more than 200 countries and territories.