Retail News CRM

Author: Mei Ling Tan

  • Coronavirus case confirmed in Samsung factory in South Korea

    Coronavirus case confirmed in Samsung factory in South Korea

    We have been hearing news about different factories’ production struggles over the coronavirus outbreak for almost two months now. Unfortunately, on Saturday, Samsung temporarily closed one factory in South Korea over a confirmed case of the coronavirus, reports Reuters. Until now, Samsung has remained fairly unaffected by the public health crisis.

    The aforementioned factory complex is situated in the South Korean city of Gumi, close to the center of South Korea’s largest coronavirus outbreak (in the city of Daegu), where, reportedly, the cases of infected with the illness amount to around 433. However, the factory is responsible only for the production of a small portion of high-end phones, in particular the Galaxy Z Flip and the Galaxy Fold, primarily for the domestic market.

    The facility is to remain closed until Monday morning, while the floor where the infected employee worked will be shut down until February 25, Tuesday. Workers that came into contact with the employee in question are now in self-quarantine and will be tested for possible infection with the virus.

    Samsung states that production in other factories in South Korea will remain unaffected for now.

    Lees ook:

    Lees ook:

  • The TSA bans use of TikTok over national security threat allegations

    The TSA bans use of TikTok over national security threat allegations

    The United States Senator for New York Charles E. Schumer has been concerned about national security risks posed by China-owned social media platform TikTok and other similar platforms operating in the US since October last year. He has now reached out to the Transport Security Administration’s (the TSA) Administrator David Pekoske, expressing his concern over the use of the platform by the agency.

    In consequence, the TSA has banned the use of TikTok by its employees. The agency has stopped allowing its employees to use the platform on Sunday. National security experts have been concerned about TikTok’s collection and handling of user data and personal information. Additionally, concerns regarding the fact that Chinese companies have to work in accordance with the Chinese Communist Party’s demands have also been raised. According to Schumer’s press release, those companies do not possess means to decline requests made by the Chinese government.

    Since October 2019, multiple governmental organizations, including the US Army, the Marines, the Navy, as well as the Air Force and the Coast Guard, have banned or imposed hard limitations on the usage of the app. They are also encouraging personnel to avoid the app even in regard to personal use.

    Although TikTok’s parent company ByteDance has not specifically commented on those issues, it maintains the position that it is a trusted and responsible corporate citizen of the US.

    Lees ook:

  • WhatsApp private group links visible in Google search results

    WhatsApp private group links visible in Google search results

    Journalist Jordan Wildon stated on Twitter that WhatsApp groups may not be as secure as people thought they were and shared a screenshot, showing some links to groups appearing in Google search results. Apparently, when users create a link to send to someone to join their group, it gets indexed by Google and is accessible.

    A WhatsApp’s spokesperson reminded people that links that should be private shouldn’t be disclosed on publicly accessible websites, apparently explaining that the issue was due to unreasonable public posting of some links. When a link for a private group is posted on publicly available websites, it can be used by anyone to join the group and in consequence, see all the messages in it.

    However, reverse engineer Jane Manchun Wong’s post on Twitter regarding the situation brings another perspective on it – she is stating this situation was a result of a misconfiguration which allowed around 470,000 Group Invite links to be indexed, and not because someone has not been careful enough when sharing private links. According to her, WhatsApp could change certain configurations in order to exclude the invite pages from appearing in search engines.

    Nevertheless, for the time being, WhatsApp maintains the position that this is intended behavior, not a bug.

    Lees ook:

  • Netflix adds new feature that lets you see most popular series and movies

    Netflix adds new feature that lets you see most popular series and movies

    The most popular movie streaming service, Netflix is adding a new feature that will allow its users to pick what to watch based on the popularity of the shows. A long-overdue feature is now making its way to Netflix users on all platforms – top 10 list.

    Those who already got it should see a new row that will feature the top 10 list in their respective countries. Netflix mentions that the names on the list will be updated daily and that the position of the row will vary depending on how relevant the shows and films are to each user.

    In addition to the top 10 list row, Netflix is adding two other features – the top 10 most popular series and the top 10 films. Both will be available when you click on the movies and TV shows tab, so they’re not immediately visible when you open Netflix.

    Lees ook:

    Lees ook:

    Lees ook:

  • Gold prices hit 7-year high

    Gold prices hit 7-year high

    Vietnam’s gold prices hit a seven-year high Friday as the coronavirus outbreak pushed investors to seek safer assets.

    The country’s second-largest jewelry company, DOJI, was selling gold at VND45.59 million ($1,964) per tael (1.2 ounces), up 1.3 percent from Thursday, the highest since January 2013.

    Phu Nhuan Jewelry, meanwhile, sold its gold at VND45.75 million ($1,971), up 1.7 percent.

    The domestic price surge followed a global rise in gold prices of 0.9 percent to $1,635 per ounce Friday, the highest in seven years.

    Gold has become a more attractive investment option as the ongoing novel coronavirus outbreak will have negative impacts on the global economy.

    The gold price rise has happened alongside a fall in stocks. On Friday, Vietnam’s benchmark VN-Index fell 3.5 percent from the beginning of the year to 933.09 points.

  • Bamboo Airways suspends S.Korea flights to contain coronavirus

    Bamboo Airways suspends S.Korea flights to contain coronavirus

    Vietnam’s private airline Bamboo Airways will suspend all routes to and from South Korea to stem the spread of the novel coronavirus.

    Both routes from central Da Nang and Nha Trang to Seoul’s Incheon International Airport will cease operation starting February 26, it stated Monday.

    The airline is currently operating seven trips a week on each route with the narrow-body Airbus A21neo capable of carrying nearly 200 passengers.

    It stated flight suspension is vital to warding off the coronavirus from South Korea where the number of confirmed cases has reached 763, and death toll 7 as of Monday.

    Last year, South Korea was Vietnam’s second-largest tourism market behind China with 4.3 million visitors, up 23 percent year-on-year.

    Lees ook:

  • Chinese Startup Fundraising Plunges

    Chinese Startup Fundraising Plunges

    The ongoing coronavirus outbreak has caused capital flows into mainland China’s startups to plunge 60 percent year-to-date.

    Year-to-date, Chinese startup fundraising registered $1.79 billion from a 6-year low of 168 deals – a major plunge from last year’s $4.18 billion and 440 deals in the same period, according to alternatives data provider Preqin. Venture capitalists have only closed six funds thus far, raising $300 million.

    The capital slowdown will likely drag the broader outlook for private equity in the region. Within Asia Pacific, China accounted for around half of all private equity investments and 80 percent of the nearly 3,000 country-specific deals Preqin tracked since 2016.

    A partner at major Chinese venture capital firm SB China Capital, Zhao Chenxi, warned startups to brace for the potential of receiving no venture capital for all of 2020 in his social media account. Wu Shichun, founding partner of Plum Ventures, called the current period a test of the «hell model» for small and medium-sized enterprises that continue to bleed costs with no income.

    Despite assurances from Beijing and regulators about providing financial buffers, data signals a bleaker reality. A report by Tsinghua University and Peking University said that 85 percent of the 1,506 SMEs surveyed in early February expect to run out of cash within three months with one-third of respondents expecting a more than 50 percent cut to annual revenue.

    More mature startups have been the exception to the rule thus far as fundraising activities were relatively less affected. This is especially the case for businesses with strong digital capabilities to navigate around an outbreak that has created a market of 50 million homebound consumers in Hubei province.

    According to a China TH Capital survey, over 81 percent of the 40 late-stage private equity and venture capitalists saw no impact with the remainder seeking to cut back on investment plans for the year ahead.

  • Online focus pays off as Sabina sales surge

    Online focus pays off as Sabina sales surge

    An aggressive online focus saw listed Thai lingerie retailer Sabina achieve 14.3 percent sales growth last year.

    Sabina CEO Bunchai Punturaumporn, pictured above, said the company’s performance last year outperformed expectations, despite declining consumer purchasing power due to a slowing economy and falling confidence.

    Sales totaled US$103.5 million and net profit reached $13 million.

    In Thailand, Sabina opened two new stores, at Central Village and Samyan Mitrtown, and home-market same-store sales rose 3.7 percent last year.

    But the real growth engine was online, with sales up 32.3 percent year on year.

    “At the end of last year, Priceza studied online sales and found that lingerie was the best-selling product in the fashion category and that Sabina had earned the highest sales online, especially during the 11.11 and 12.12 shopping festivals held in November and December last year,” said Punturaumporn.

    Last year was the first that Sabina had participated in the shopping festivals. Apart from experiencing online success, the company also developed new lingerie collections it says caters to changing demands and requirements of today’s consumers.

    Outside Thailand, Vietnam was a standout market, with Sabina achieving 25.7 percent year-on-year growth there. Cambodia, Laos, and Myanmar also saw good growth, he said.

    Sabina also manufactures products for European retailers, but that side of its business posted a lackluster result, with sales up a mere 0.1 percent.

    Meanwhile, the company says that last year 37 percent of its products were made in China through sub-contract manufacturing with local factories, the majority 63 percent made in its own Thai factories. But since the coronavirus hit this year, Sabina has migrated some contract manufacturing from Mainland China to Vietnam, spreading its risk factor as well as becoming a base for the Vietnamese market, which has shown strong growth potential.

    Lees ook:

  • Metro Cash & Carry India plans more stores

    Metro Cash & Carry India plans more stores

    European wholesale group Metro Cash & Carry will launch five new locations in India by the end of the year.

    The firm is also building its supply partnerships with local small-scale “kirana” stores, and has already secured 2000 partners in Bengaluru, Hyderabad, and Delhi. It has provided these small businesses with specialized point-of-sale devices outfitted with an app to help owners order items from Metro online, as well as generate daily sales and profit reports and track sales data.

    “We believe in helping kiranas in increasing their sell-out,” said Metro Cash & Carry India MD and CEO Arvind Mediratta to ETtech, “not just sell to them because if their sell-out improves, and if they think Metro can help increase their sell-out, we automatically become their preferred supplier.

    “The whole idea is how to make a kirana store smarter in terms of usage of technology, by running business more efficiently, targeting more customers using data analytics, drive more customer traffic and make it more successful and profitable.”

    Metro’s devices allow the kirana stores to trade using e-payment services. The firm is also offering loans for remodelling costs to help modernise these outlets.

    The firm’s five new cash & carry stores will be established in Karnataka, Andhra Pradesh and Telangana. It currently operates 27 such outlets in 17 cities within the territory.

    Lees ook:

  • Samsung and BTS enter global marketing collaboration

    Samsung and BTS enter global marketing collaboration

    South Korean electronics giant Samsung and BTS the K-pop superband, have entered a global collaboration to market smartphones.

    Samsung will first work with BTS for the boy band’s global contemporary art initiative, “Connect, BTS,” before expanding their collaboration to other areas, according to the officials.

    Connect, BTS is a global initiative spearheaded in collaboration with curators from five major cities — London, Berlin, Buenos Aires, Seoul and New York — to connect people from across the world through art.

    The project was designed to dovetail with BTS’ philosophy that centers around diversity, love and ‘care for the periphery’.

    Samsung said it will support augmented reality (AR) docent service for the project, in which members of BTS appear and explain art pieces in a virtual system.

    The South Korean tech giant also installed a media facade with its Galaxy devices for the art project in Seoul and New York.

    Samsung and BTS did not disclose further details of the partnership, but industry insiders expect that the septet will participate in the company’s various promotion and marketing events regarding its new smartphones launched earlier this month.

    BTS member V was spotted at Samsung’s “Galaxy Unpacked 2020″ in San Francisco, where the company unveiled the new-generation 5G Galaxy S20 series and the Galaxy Z Flip smartphones.

    “We hope we can deliver a good experience to fans of BTS and Galaxy devices around the globe through collaboration with BTS,” a Samsung official said. “We are planning various activities other than ‘Connect BTS.’”

    Lees ook:

    Lees ook:

  • Deliveroo Hong Kong doubles virtual restaurant ranks

    Deliveroo Hong Kong doubles virtual restaurant ranks

    Hong Kong food-delivery service Deliveroo has doubled the ranks of virtual restaurants supplying meals through its platform to 200.

    Virtual brands are concepts developed by existing restaurant operators to trial new menu collections or options not available in physical stores, available only through the Deliveroo app. Examples include a Greek restaurant offering healthy protein bowls, or a pizza outlet delivering wraps.

    Brian Lo, GM of Deliveroo Hong Kong, says in other international markets, restaurants launching virtual brands on Deliveroo have seen an average a 70-per-cent increase in sales as a result.

    “In Hong Kong this is higher at 85 percent, thanks to the city’s enthusiasm towards ordering in and eagerness to try new things.”

    At a time when the number of physical restaurants in Hong Kong has fallen by between 1.5 percent and 5 percent due to falling footfall since January, virtual brands offer an opportunity to recover lost ground – all without the overheads of a physical store.

    Deliveroo encourages the development of virtual brands by using its data to identify hotspots for growth and cuisine types which might be missing in some neighborhoods. Lo says the company also helps by offering strong marketing support, access to its global network for more cost-effective ingredient sourcing and new recipes, and the chance to license foreign brands.

    One successful virtual brand Deliveroo has fostered in Hong Kong is Caramba Mexican Cantina, owned by Eclipse Hospitality Group. Caramba was a popular restaurant in Soho for 16 years until rising rents and competition forced it to close its doors in 2016.

    Deliveroo encouraged Eclipse, which also owns Cafe Siam in Lan Kwai Fong, to revive Caramba as a virtual brand because there was a space in the market for Mexican cuisine in Central. Since launching on the app in November, the company’s revenue has grown four-fold.

    “We’re grateful to Deliveroo for coming to us with their expertise and advising us to bring back a part of our history we thought we had to say goodbye to for good,” said William Chan, marketing manager at Eclipse. “The food industry may be changing rapidly but it’s for the better, and bringing back Caramba is a sure sign of it.”

    Lees ook:

    Lees ook:

  • Malaysia’s Sunway Malls delays coronavirus response

    Malaysia’s Sunway Malls delays coronavirus response

    Malaysian shopping-center operator Sunway Malls is taking an extended period to consider its position on rental rebates to its retail tenants amidst the coronavirus outbreak.

    The firm says it will follow the guidance of the Malaysia Shopping Malls Association, which has recommended a longer period of observation to fairly assess the situation.

    Sunway Malls said while retailers in Hong Kong and Singapore are seeking rental relief, their current predicament is different to that of Malaysian retailers since the rents in Hong Kong and Singapore are five-to-10-times higher than in Malaysia.

    The company also said its seven malls are largely driven by local consumption (more than 90 percent) rather than by tourist spending, so there has been less impact from fewer tourists visiting the country during the virus crisis.

    “There is no significant decrease in footfall when comparing last year’s post-festive season footfall with this year’s,” said the statement. “Sunway Malls’ statistics show that the virus outbreak had caused a slight decrease in footfall during the initial weeks, but it has since normalized and our footfall has remained stable and resilient.”

    Sunway Malls acknowledged the uneasiness caused by the virus, although described the situation as cautious rather than regressive.

    “By far, the situation in Malaysia is largely controlled, contained and relatively low in relation to other affected countries,” it said.

    Lees ook:

  • Daegu citizens use social media to support restaurants hit by coronavirus

    Daegu citizens use social media to support restaurants hit by coronavirus

    Citizens of South Korean city Daegu are working together on social media to prop up local businesses hit hard by the rapidly growing coronavirus outbreak.

    A Facebook page introducing restaurants in Daegu posted Friday that many establishments are losing money due to the coronavirus epidemic. These restaurants saw their sales fall and are struggling to use up food and ingredients.

    The Facebook page posted a message saying, “If there are restaurants who need help using up ingredients, please let us know. We will help as best as we can.”

    Citizens are taking steps to make sure that restaurant food going unsold due to a drop in customer numbers doesn’t go to waste.

    When such information was made public, inquiries were made by various local restaurants, including steak restaurants and cafes that sell desserts and beverages.

    Site managers received and posted the remaining materials, prices, contact information and photos from restaurant owners. Some posts also showed a welcoming phrase, “Used up all the ingredients.”

    There were also citizen reports to publicize the situation at traditional markets, where many elderly vendors are not familiar with the internet.

    One citizen said: “There are a lot of fruits at Seomun Market stalls and so on. Delivery is also possible,” and provided the site manager with the location and the phone number.

    Other Facebook pages that deliver various news in the region have also joined the initiative.

    Lees ook:

  • PepsiCo plans to buy Chinese snack Be & Cheery

    PepsiCo plans to buy Chinese snack Be & Cheery

    PepsiCo is poised to purchase Chinese online snack vendor Be & Cheery owned by Haoxiangni Health Food Co.

    PepsiCo had proposed the Be & Cheery acquisition before the coronavirus outbreak began in China.

    Valued at US$705 million, the acquisition will help PepsiCo strengthen its position in Mainland China as the company suffers slowing business growth globally.

    “Be & Cheery adds direct-to-consumer capability, positioning us to capitalize on continued growth in e-commerce, and a local brand that is able to stretch across a broad portfolio of products, through both online and offline channels,” said Ram Krishnan, CEO of PepsiCo Greater China.

    “We also expect to leverage Be & Cheery’s innovation and consumer insights capabilities to drive innovation in other key PepsiCo growth markets.”

    The acquisition still needs approval from Haoxiangni’s shareholders and other customary conditions, according to the company.

    Founded in 2003, Be & Cheery is one of the China’s largest online snack companies. Its products include nuts, dried fruits, meat snacks, baked goods and confectionery.

    Lees ook:

    Lees ook:

  • CapitaLand boosts support for tenants due to Corona outbreak

    CapitaLand boosts support for tenants due to Corona outbreak

    Mall owner-operator CapitaLand is introducing additional support measures to its mall tenants as the coronavirus outbreak continues.

    CapitaLand has been offering flexible rental payments and a one-time rebates to its mall tenants in a targeted manner and will release a one-month security deposit to offset rental payments for this March.

    The group met with representatives from the Restaurant Association of Singapore and Singapore Retailers Association late last week to reaffirm its commitment and provide more details about its support packages, which are in addition to the Singapore government’s 15-per-cent property tax rebate.

    Some 3500 foodservice and retail tenants operating in CapitaLand malls in Singapore will benefit from the support.

    “As the operator of Singapore’s largest shopping mall network, we recognize that we will succeed only if our retail partners do,” said Capitaland Group president, Singapore & international Jason Leow. “Our commitment to build a sustainable retail ecosystem remains unwavering. We will continue to engage our tenants closely and stand prepared to do more should the situation worsen.”

    CapitaLand initially announced on February 13 a move to offer mall tenants the flexibility to operate shorter store hours. The firm has also put in place an SG$10 million (US$7.16 million) marketing assistance program to fund retailer-driven and mall-wide promotional activities to help its tenants achieve more sales.

    Andrew Kwan, VP of the Restaurant Association of Singapore, said CapitaLand’s moves were “tangible relief at a time of great need”.

    “We urge other landlords to take the cue from CapitaLand and offer urgent and immediate cost-relief measures for their tenants. Only when all parties work together can we save jobs during this difficult time.”

    Lees ook: