Retail News CRM

Author: Mei Ling Tan

  • Android version of Chrome app receives useful shopping tool

    Android version of Chrome app receives useful shopping tool

    If you’re the type of person that likes to browse for the lowest price before making a purchase, Google recently announced something that is going to be of interest to you. The price tracking feature found in the desktop version of the Chrome browser is now available on Chrome’s Android app.
    Google says, “Available starting in the U.S. on desktops and Android devices, next time you’re shopping, select “track price” in the Chrome address bar. You can manage the products you’re tracking through the side panel, or through the notifications you receive.”

    Using the mobile Chrome app for Android, eligible pages will display a lozenge-shaped button at the top of the screen that reads, “Track Price.” The left side of the button will show the price-tracking icon which is a bell with the “+” symbol to the upper right of the bell. This is the same setup that you’ll see on the desktop version of Chrome. Tapping on the icon will cause a popup on the bottom of the screen to surface; the latter includes a toggle switch for price-tracking that says “Get alerts if the price drops on any site.”

    If the price for an item you’re tracking drops, you will receive a notification from Google that not only includes the new, lower price but also states where you can find the item at that lower price. The tracker runs across multiple stores and websites so you won’t have to track the same item in several stores in order to get the best deal.
    Even though Google says that the new feature is available in the U.S. for Android users, so far this writer hasn’t seen it on my Pixel 6 Pro running Android 13 QPR2 Beta 1. It might be too late to use for this year’s holiday shopping season but it will be available for next year’s holidays and for all of the birthdays and other times that you’ll be shopping until then.
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  • Hong Kong is next destination for Korean fashion retailer F&F

    Hong Kong is next destination for Korean fashion retailer F&F

    Korean fashion retailer F&F has revealed plans to open in Hong Kong.

    Details are sketchy, but the company has signed an affiliate and will open its first standalone store in January, according to Korean analysts.

    F&F - MBL

    The expansion follows a stunning 28.6 per cent increase in sales in its home market in the fourth quarter of its latest financial year, which has promoted stock market analysts to rate the stock a “buy”. Profit has soared 36 per cent this year and is on track for a further 20 per cent growth in the 2018 financial year, according to analysts.

    F&F - MBL Kids

    F&F manufactures and retails fashion apparel and accessories for men, women and children under eight brands: MLB, MLB Kids, Discovery, Discovery Kids, Banila, B. By Banila, Collected and Lost Garden. The company focuses on casual apparel, dresses, blouses and sportswear.

    F&F Banila

    Besides its own retail outlets, it sells through department stores and wholesalers.

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  • Zayn Malik returns to Penshoppe

    Zayn Malik returns to Penshoppe

    Philippine fashion brand Penshoppe has announced Zayn Malik as its newest endorser.

    The British R&B singer made his debut with the Spring Summer 2018 Collection.

    The brand has released photos show the singer wearing bold, bright prints and comfy-looking fabrics, fit tee with vertical stripes, and men’s resort shirt with floral print.

    “As Zayn continues to dominate the global music charts, we also see him as someone who has also joined the world of fashion with his signature style. Through the years, Zayn has developed his own fashion-based following and continues to stand out in strength and style – just like Penshoppe,” says Jeff Bascon, Penshoppe’s brand director.

    Zayn Malik used to be an endorser of Penshoppe’s with his former bandmates in One Direction in 2012.

    After splitting from One Direction in 2015, Zayn released his debut solo album in March 2016.

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  • Gold prices hit 4-month high

    Gold prices hit 4-month high

    Vietnam’s gold prices hit a four-month high Wednesday aided by a weaker dollar, with investors expecting further stimuli in U.S. policies.

    The state-owned Saigon Jewelry Company was selling its popular SJC gold at VND57.2 million ($2,484.62) per tael, up 0.17 percent from Tuesday. A tael equals 37.5 grams or 1.2 ounces.

    The country’s largest jewelry company, DOJI, was also selling at the same price on Tuesday.

    In the last three days, prices have increased by around 1.5 percent to their highest point since September 3 last year.

    Global gold prices rose 0.1 percent to $1,950.46 per ounce after hitting a peak in almost two months earlier in the session as the U.S. dollar went to a low not seen in more than two years, according to data.

    Other reports have said that investors are waiting for the outcome of the U.S. Senate runoff elections in Georgia, which will have a bearing on the fiscal policy adopted by President-elect Joe Biden’s administration.

    “The underlying motivations in gold are unchanged, with lower interest rates, high inflation expectations, weaker dollar…, all these are supportive for gold in the near to long term,” said Howie Lee, an economist at OCBC Bank.

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  • Vietnam to import coal from Laos

    Vietnam to import coal from Laos

    Vietnam has signed a deal with Laos to import around 20 million tons of coal a year for the next five years.

    The memorandum of understanding was signed for the purpose Thursday by the Vietnamese Ministry of Industry and Trade and the Lao Ministry of Energy and Mines.

    Laos has been an important supplier of coal and other minerals to Vietnam in recent years.

    Vietnam imported 1.8 million tons of ores and minerals for US$78.2 million from that country last year, and 900,000 tons worth $31.6 million in the first half of this year.

    The two also have many cooperation projects in energy such as building hydropower plants and connecting grids while Laos exports electricity to Vietnam.

    Vietnam has 220 kV lines linking Laos, and is set to import at least 3,000 MW of electricity by 2025 and 5,000 MW by 2030.

  • Adidas, Reebook supplier to sack 6,000 workers

    Adidas, Reebook supplier to sack 6,000 workers

    Footwear maker Pou Yuen Vietnam, the largest employer in HCMC, will lay off nearly 6,000 workers, or 10% of its workforce, amid a decline in orders.

    This is the biggest layoff of the Taiwanese company, a supplier to Adidas and Reebok, since its operation in HCMC in 1996.

    At a recent meeting with city authorities, the company’s management said with orders plummeting their factories are forced to reduce staff.

    Since the end of last year they have been adjusting production plans, furloughing workers and rearranging them between factories.

    They expect to lay off 5,744 workers in two batches on June 24 and July 8. The discharged staff will be paid compensation at the rate of 80% of their last drawn salary for every year they worked.

    During the notice period, workers not coming to work will still be paid full wages.

    Pregnant workers, on maternity leave, having kids under 12 years, from poor households, disabled, and facing other disadvantages will not be laid off.

    Pou Yuen had laid off 2,358 workers in February and over 2,800 in June 2020 just after Covid broke out.

    Layoffs are also happening in many other companies due to the bleak economic situation.

    A survey by the city Department of Labors, Invalids, and Social Affairs of 4,000 firms in Q1 found 31% had reduced their workforce and only 19% increased it.

    Layoffs often occur in footwear, garments, construction, and food processing sectors.

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  • Amazon extends hourly wage bump for warehouse workers in light of the coronavirus

    Amazon extends hourly wage bump for warehouse workers in light of the coronavirus

    Amazon is extending the hourly wage increase that it announced previously to support workers during the coronavirus pandemic. The company had added $2 for each hour worked on top of the minimum hourly wage of $15. In the UK and European countries, the increase amounted to £2 per hour and €2 per hour respectively. For Canada, it was C$2 per hour worked. These revised rates were to last through the end of this month initially.

    Under the new announcement, the increased rate will apply through May 16. Moreover, the company has also extended double overtime pay in the US and Canada.

    Amazon says that this extension will increase its investment in pay during the outbreak to around $700 million. While this sure sounds great, it is also worth highlighting here that unlike most other companies, Amazon’s business is not suffering because of COVID-19. In fact, sales have apparently skyrocketed, and the company is also on a hiring spree, which goes on to show that demand for its services has increased during the pandemic.

    Unlike corporate office employees, warehouse workers cannot work from home. And thus, it makes sense to provide them an incentive so they keep working during these testing times. An Amazon warehouse worker has already died because of the virus, and many have tested positive.

    The e-commerce giant is also giving flexibility with leave of absence options. However, it hasn’t said if it will also extend the unlimited unpaid time off policy that was announced last month. This policy enabled workers to take some unpaid time off without having to worry about any consequences such as penalties. However, it seems like beginning next month, workers who wish to stay home will have to use their accrued time off i.e. the leaves they have remaining or ask for a leave of absence, which will be granted if a worker has an existing health condition or lives with someone who does. That’s because such individuals are more susceptible to coronavirus. Other workers will apparently have to get back to work.

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  • Chinese telco promises 5G connectivity in 2022

    Chinese telco promises 5G connectivity in 2022

    In addition, having a smart platform will allow tv audiences across the world to have access to a panorama live broadcast and immersive Virtual Reality (VR) experiences. As for athletes, they will get help from Artificial Intelligence for record-checking or physical checkups during their daily training.

    2022 Winter Olympics Games is a great opportunity for China Unicom to prove itself it can accelerate the deployment of 5G applications.

    In order to avoid disturbance between 5G stations and other satellite ground stations, China’s Ministry of Industry and Information Technology released new papers regarding this issue just ten days after granting permission to China’s three mobile phone carriers for using 5G frequency to conduct technical tests. Moreover, numerous supporting policies have also been adopted to speed up 5G deployment.

    China Mobile, with more than 100 5G base stations, conducted 5G business and application pilot programs in 12 cities this year and performed 5G tests in seven regions this year, of which Beijing, Shanghai and Xiongan New Area to name a few. It has built a platform in Chengdu, the capital city of Sichuan Province, for residents to experience Augmented Reality (AR) and VR business via 5G.

    The pre-commercialization phase of 5G networks in China will start in 2019 and will be officially ready in 2020. However, some analysts have predicted that large-scale deployment of 5G networks may take longer.

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  • Giuseppe Zanotti Expands Into Singapore

    Giuseppe Zanotti Expands Into Singapore

    Valiram and Giuseppe Zanotti jointly announce a new phase in their partnership with the opening of a new boutique in Singapore.

    Valiram’s partnership with the Italian luxury footwear and fashion designer started in 2007 when the Malaysian-based luxury and lifestyle retail specialist opened the first Giuseppe Zanotti boutique in Malaysia at premier retail landmark Pavilion Kuala Lumpur.

    The new Giuseppe Zanotti monobrand boutique will be located in ION Orchard, a stylish architectural wonder and the most glamorous shopping complex in Singapore.

    Occupying 108-square-meter premium retail space, this refined concept store houses the brand’s iconic sculptural shoes, avant-garde sneakers and leather handbags and accessories for both men and women.

    A limited collection of children’s shoes will be introduced specifically for the boutique launch.

    The boutique’s interior design is driven by the vibrant and emotional DNA of the brand. Chrome and shiny gold surfaces mix with dark yellow and electric blue fabric on the floor carpet and furniture, and classic elements like white walls and mirror finishing complement the contemporary furniture and hardware details.

    A careful juxtaposition of materials and details brings to the environment a refined and contemporary mood, which enhances the brand’s creations for a luxury shopping experience.
    “Valiram is passionate about creativity and craftsmanship, a combination that Giuseppe Zanotti is renowned for.

    Mr. Giuseppe Zanotti added: “The strong affinity between Valiram and the brand, two businesses both longing for creativity and craftsmanship, has made it possible to accept this new challenge with true determination.

    This partnership along with the new boutique at ION Orchard, embarks our footprints in Singapore”.

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  • Hong Kong world’s most expensive place to live

    Hong Kong world’s most expensive place to live

    Hong Kong tops the table of the world’s most expensive cities in terms of everyday cost of living. That’s according to a newly-published global survey by Mercer, a company specialising in sharing of ideas and information.

    Claiming six out of the top 10 spots, Asian cities dominate the list of most expensive locations for working abroad in the 2018 rankings.

    The Asian metropolis pushed the West African city of Luanda off the top spot. The Angolan capital now comes in at number six.

    Several European cities make the world list including London at 19, Copenhagen at 14, Geneva 11, Bern 10, and at world number three, Zurich is Europe’s move expensive city to live.

    The rankings are calculated based on the spending patterns among expats from different nationalities, comparing prices for similar brands and from similar retail outlets in both the home and the host city. In this way, a cost-of-living index can be compiled.

    One city of note this time around is the Portuguese capital Lisbon that has made the top 100 for the first time coming in at 93, a move up of 44 places.

    Some of the cheapest cities to live in Europe are in the east. They included the Bosnian capital Sarajevo, Serbia’s largest city Belgrade, Romanian and Bulgarian capitals Bucharest and Sofia, and the capital of the former Yugoslav Republic of Macedonia, Skopje.

    The survey shows some big differences depending on products. Coffee, for instance, varies wildly.

    In the South Korean capital, Seoul, a cup of coffee costs, on average around, 12 dollars, compared to four dollars in New York.

    A hamburger in Zurich is 15 dollars, but only five in Hong Kong, and seven in London.

    But when it comes to cinema tickets the British capital is way out in front at almost 25 dollars.

    Of course, you do not have to go to the cinema, but the chances are you do need to buy fuel for your car, and while Hong Kong comes out the most expensive Paris is not far behind. But when it comes to fuel prices, it seems we’re still too much in love with our cars to refuse.

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  • CITIC Offloads McDonald’s Stake

    CITIC Offloads McDonald’s Stake

    CITIC has plans to sell a 22 percent stake in McDonald’s Chinese mainland and Hong Kong business to its parent group’s private equity arm.

    The main listed arm of the Chinese state-owned CITIC Group, CITIC Ltd., will aim to raise at least 2.17 billion yuan, according to a report citing a Beijing bourse filing.

    The report also underlined CITIC Capital, the group’s alternative investment arm, as the likely buyer of the stake, adding to its $26 billion in assets already under management. Finalization of the deal is earmarked for early February, one of the sources added.

    McDonald’s said that strategy and daily operations at its mainland and Hong Kong business would be unaffected by the deal. CITIC also provided assurances, noting that the deal was a purely «commercial decision» and that it would continue cooperation with McDonald’s business in China.

    CITIC will be selling the 22 percent stake through Fast Food Holdings Ltd., a holding firm set up with CITIC Capital to hold the combined 52 percent stake of McDonald’s mainland and Hong Kong business. Following the deal, CITIC Ltd. will still hold 10 percent of the regional McDonald’s business.

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  • Gold Prices Stage a Strong Comeback Following Weekend Decline

    Gold Prices Stage a Strong Comeback Following Weekend Decline

    Gold prices in Vietnam experienced a rebound on Monday afternoon, recovering somewhat from a sharp decline over the weekend, while global bullion rates remained stable.

    Gold Prices on the Rise

    The price of gold bars from the Saigon Jewelry Company increased by 0.43%, reaching VND117.7 million (approximately US$4,500.77) per tael, partially reversing the 0.68% drop recorded last Saturday. Meanwhile, gold rings saw a modest uptick of 0.26%, bringing the price to VND113.8 million per tael, following a 0.7% dip over the weekend. To clarify, a tael is equivalent to 37.5 grams or 1.2 ounces.

    Globally, gold prices stabilized on Monday as investors exhibited caution ahead of U.S.-China trade talks, which could potentially alleviate ongoing tensions, as reported by Reuters. Spot gold edged up by 0.1%, reaching $3,313.54 an ounce, while U.S. gold futures slipped by 0.4% to $3,333.80.

    Market analyst Kelvin Wong from OANDA noted that short-term traders are hesitant to adopt aggressive long positions in advance of the U.S.-China discussions. Though tariffs may still persist, Wong suggested that the talks could mitigate some cost pressures in the U.S. However, he cautioned that the widening budget deficit could exacerbate inflationary issues.

    In a related development, Trump stated that a decision regarding the next Federal Reserve chair will be made soon, hinting that a favorable chair could lead to reduced rates. As a safe-haven asset, gold traditionally flourishes amid economic uncertainties and in low-interest environments.

    On the technical side, analysts predict that spot gold may retest support levels at $3,296. Should it break below this point, prices could potentially slide towards $3,262.

    And just like magic, a slight change in trade talks can turn the tide for gold prices faster than a rabbit out of a hat!

    Questions & Answers

    What caused the increase in gold prices in Vietnam?
    Gold prices rose due to a partial recovery from a steep drop over the weekend, coinciding with stable global bullion rates.

    How are global gold prices behaving amid the U.S.-China trade talks?
    Spot gold has shown a slight increase of 0.1%, as investors are cautious yet optimistic about the outcome of the trade discussions, which could lessen tensions between the two nations.

    What are analysts expecting for gold prices in the near future?
    Analysts are watching key support levels closely; if gold prices break below $3,296, they could fall further towards $3,262.

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  • Singapore partner pulls out of Vietnam taxi joint venture

    Singapore partner pulls out of Vietnam taxi joint venture

    Singaporean transport firm ComfortDelGro has decided to sell its entire stake in the Vietnam Taxi Company to a local company and pull out of Vietnam.

    Under a deal it has signed, it will transfer its 70-percent stake in Vinataxi to the HCMC-based Helios Service and Investment Joint Stock Company for VND55 billion ($2.4 million).

    Vinataxi was established in 1992 by Vietnamese firm Tracodi and Hong Kong company Tecobest Investment, which sold its share to ComfortDelGro in 2003.

    The company reported revenues of VND20 billion and a loss of VND7.6 billion in 2020.

    In 2018, ComfortDelGro and another local firm, Savico, would up their joint venture, ComfortDelGro Savico Taxi, unable to cope with the fierce competition from tech-based taxi operators.

    According to ComfortDelGro, the Vietnamese market fetched revenues of $500,000 in the first half of this year, or less than 0.1 percent of its total revenues.

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  • Indonesia’s GoTo narrows losses and on track

    Indonesia’s GoTo narrows losses and on track

    Indonesia’s biggest tech firm GoTo on Tuesday said it had slashed underlying losses in the second quarter to US$78.25 million, down from $280 billion a year earlier, helped by intense cost-cutting measures.

    GoTo, backed by Japan’s SoftBank Group and Singapore’s sovereign wealth fund GIC, has implemented various cost-cutting measures including layoffs this year, as it lost three-quarters of its market valuation since it went public in April last year.

    Group CEO Patrick Walujo said that GoTo, which offers ride-hailing, e-commerce, and financial services, will continue its “cost discipline” measures while expanding its customer base.

    “We are developing a long-term strategy for achieving this, and in the meantime we will continue to operate with absolute cost discipline as we pivot our product mix towards the mass market,” Walujo, who took the top job in June, said in a statement.

    The company kept its target to swing to a profit by the end of this year.

    Following positive results for the first half, GoTo revised its 2023 adjusted EBITDA outlook to a loss of between $293.8 billion and $248.1 billion, from a previously forecast loss of between $346 billion and $300.3 billion.

    Net revenues for the second quarter of 2023 rose to $236 million, up 86.7 percent from 2022, with the company’s overall gross transaction value reaching $9.3 trillion, it said.

    The company said it had slashed losses by 48 percent for the first half compared to a year earlier.

    Its e-commerce business Tokopedia was Indonesia’s second-largest online marketplace last year, according to industry data, but faces intensifying competition as smaller rivals, led by TikTok, doubles down in the Southeast Asia’s biggest economy.

    Shares in GoTo, shorthand for GoTo Gojek Tokopedia, closed up 6.59 percent to $0.0067 per share before the earnings announcement.

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  • Jeep clothing mainland sales rises

    Jeep clothing mainland sales rises

    Menswear retailer China Outfitters, which holds the Jeep license on the mainland, has boosted sales and profits in the first half year.

    While same-store sales in its own store network – which now numbers 564 – slipped by 3 per cent, online sales through Tmall and other platforms soared 20.3 per cent.

    China Outfitters achieved sales of RMB445.7 million (US$65 million) for the period, up 0.7 per cent on the same period last year. Profit attributable to shareholders rose 16 per cent RMB7.9 million ($1.15 million).

    Jeep is by far China Outfitters’ largest brand, with 565 points of sale including those of third-party retailers. Other labels in the stable are SBPRC, London Fog, MCS, Zoo York, Barbour, Lincs and Marina Yachting.

    Sales in self-operated stores rose 2.7 per cent, accounting for 77.3 per cent of total revenue, largely driven by outlet store growth.

    Sales to third-party retailers decreased by 14.5 per cent, due to a smaller store network.

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