Retail News CRM

Author: Mei Ling Tan

  • Retailer Temu’s daily US users halve following end of ‘de minimis’ loophole

    Retailer Temu’s daily US users halve following end of ‘de minimis’ loophole

    PDD Holdings’ international discount e-commerce platform, Temu, reported a 58 per cent decrease in daily US users in May. This downturn is just one of the challenges the online retailer is grappling with in the face of the US-China trade war.

    Temu made the strategic decision to cut advertising expenses in the US and alter its order fulfillment approach after the cessation of the “de minimis” practice by the White House on May 2. This regulation had previously granted Chinese companies the ability to ship low-value packages to the United States without incurring tariffs.

    For years, Temu and the large fast-fashion company, Shein, had availed themselves of this provision. This allowed them to deliver items directly from suppliers in China to consumers in the US, thereby maintaining low prices.

    Since the announcement of sweeping trade tariffs by US President Donald Trump, both Temu and Shein have noted a marked decline in sales growth and customer acquisition rates. However, according to data gathered by consultancy firm, Bain & Company, Temu’s downward trends surpass those of its competitor.

    Both platforms were forced to increase prices due to tariffs, yet Shein has managed to raise the amount of money spent per customer in comparison to the previous year, data indicated. Conversely, Temu has grappled with this challenge.

    Temu declined to comment on the drop in daily US users or the challenges it is encountering in the US market.

    According to a May note from Morgan Stanley equity analyst Simeon Gutman, engagement on Temu has significantly decreased following the termination of the de minimis exemption.

    Gutman expressed his belief that, if the current tariff conditions remain unchanged for an extended period, Temu’s competitive position is likely to continue to weaken.

    PDD’s first quarter earnings were recently reported and failed to meet growth expectations. In a post-earnings call, executives stated that tariffs had imposed significant pressure on its merchants.

    They reaffirmed Temu’s prior commitment to maintain stable prices and collaborate with merchants across regions, highlighting a move towards a local fulfilment model announced at the start of May.

    Previously, Temu’s business model held merchants accountable for ordering and supplying their products, while the China-based company managed the majority of logistics, pricing, and marketing.

    Under the new model, Temu’s merchants “can ship individual orders from China to Temu-partnered US warehouses, but they would need to address tariffs and customs charges and paperwork”. Temu continues to handle order fulfillment close to consumers, pricing, and online operations.

    Despite these difficulties, HSBC analysts reported last week that Temu’s growth in non-US markets has increased, with non-US users constituting 90 per cent of its 405 million global monthly active users in the second quarter.

    Questions & Answers

    What factors contributed to the decrease in daily US users of PDD Holdings’ platform, Temu?
    The US-China trade war and the cessation of the “de minimis” practice, which allowed tariff-free shipping of low-value packages to the US, contributed to this decline.

    How have changes in global trade conditions affected Temu?
    The company has been forced to alter its order fulfillment strategy and increase prices. Additionally, it has experienced a decrease in sales growth and customer acquisition rates.

    What adaptations has Temu made in light of these challenges?
    Temu has shifted to a local fulfillment model in the US and is working collaboratively with its merchants. It continues to manage logistics, pricing, and online operations, despite the changes in market conditions.

  • Dior taps Jonathan Anderson as creative director

    Dior taps Jonathan Anderson as creative director

    Dior has announced the appointment of Jonathan Anderson as its latest creative director. This strategic move allows Anderson to oversee the brand’s women’s, men’s, and haute couture collections.

    Historical Milestone for Dior

    This appointment marks a significant paradigm shift in Dior’s history. For the first time since its inception by Monsieur Dior, a creative director will now lead all significant creative verticals across the brand. Anderson takes over the reins from Maria Grazia Chiuri, who had been part of Dior since 2016, serving as the artistic director of women’s couture, ready-to-wear, and accessories. Chiuri’s departure from her role as the women’s wear creative director preceded Anderson’s appointment.

    About Jonathan Anderson

    Jonathan Anderson, born in 1984, is celebrated as one of the most impactful designers of his era. He established his own label in 2008, which soon caught the attention of luxury conglomerate LVMH. This led to LVMH purchasing a minority stake in his brand in 2013, followed by his appointment as creative director of the Spanish luxury house Loewe. Anderson served in this capacity for over a decade before stepping down in March this year.

    Delphine Arnault, chairman and CEO of Christian Dior Couture, praised Anderson in an official statement, highlighting his notable career growth since joining the LVMH group over a decade ago. Arnault expressed her belief that Anderson would infuse a creative and modern vision into Dior, drawing inspiration from the legendary story of Monsieur Dior and the unique codes he established. She assured that the experienced teams and skilled ateliers of Dior would support Anderson in bringing his creative ideas to life.

    Anticipating Anderson’s Debut Collection

    Fashion enthusiasts eagerly await the British designer’s first collection for Dior, the Dior Men Summer 2026, which is set to debut on June 27 in Paris.

    Questions & Answers

    Who is Jonathan Anderson?
    Jonathan Anderson is a renowned British designer, celebrated as one of the most impactful designers of his era. He launched his own label in 2008 and served as the creative director of Loewe for over a decade.

    What is significant about Jonathan Anderson’s appointment at Dior?
    This appointment marks a significant shift in Dior’s history. For the first time since its inception, a creative director will lead all major creative lines across the brand.

    When will Jonathan Anderson debut his first collection for Dior?
    Jonathan Anderson will debut his first collection for Dior, the Dior Men Summer 2026, on June 27 in Paris.

  • Dollar Strengthens Slightly Against Vietnamese Dong in Currency Trading

    Dollar Strengthens Slightly Against Vietnamese Dong in Currency Trading

    The U.S. dollar experienced a slight uptick against the Vietnamese dong on Tuesday morning, even as global rates plunged to a six-week low. This nuanced currency dance unfolds amidst a backdrop of economic fragility and trade tensions.

    Dollar Surges Against Dong

    Vietcombank marked an increase in its dollar selling rate, up 0.11% to VND26,230. This change represents a 0.54% rise in just over a week. Meanwhile, the State Bank of Vietnam also raised its reference rate, pushing it up by 0.05% to VND24,982. However, on the black market, the dollar dipped 0.11% to VND26,330, illustrating a mixed sentiment regarding the greenback. Year-to-date, the dollar has appreciated by 2.66%, showcasing its resilience.

    Global Trends Impacting Exchange Rates

    On a broader scale, the dollar’s global standing fell to a six-week low on signs of a weakening U.S. economy. Analysts point to the ongoing trade war initiated during President Donald Trump’s administration as a critical factor in this economic fragility. Effective Wednesday, U.S. tariffs on imported steel and aluminum will inflate to 50%, coinciding with the Trump administration’s push for improved trade offers.

    Rodrigo Catril, senior FX strategist at the National Australia Bank, expressed that the persistent trade tensions suggest no significant improvement in sight and have contributed to widespread declines in the dollar’s value. Intriguingly, the Australian and New Zealand dollars have emerged as unlikely champions during this turbulent time, showcasing their surprising resilience.

    As the dollar index—the measure against six major peers—remained steady after dipping to 98.58, its lowest point since late April, the greenback was trading at 142.71 yen, hovering near a one-week low. Who said financial markets don’t have drama?

    Questions & Answers

    What is the current exchange rate of the U.S. dollar against the Vietnamese dong?
    The dollar is trading at VND26,230 at Vietcombank and VND26,330 in the black market.

    How much has the dollar increased since the start of the year?
    The U.S. dollar has gained 2.66% against the Vietnamese dong since the year began.

    What factors are contributing to the dollar’s recent low globally?
    Global trade tensions and concerns about the U.S. economy’s health, particularly due to ongoing tariffs, are key contributors to the dollar’s decline.

  • C.P. Vietnam Acknowledges Diseased Pork in Viral Image Originated from Its Site, But Denies Selling It

    C.P. Vietnam Acknowledges Diseased Pork in Viral Image Originated from Its Site, But Denies Selling It

    A recent Facebook post by Jonny Lieu—who claims to be a former C.P. employee—has ignited significant concern regarding the safety of meat products produced by C.P. Vietnam, a major player in the country’s meat industry. The post, which circulated widely, featured alarming images of diseased pork, triggering a wave of discussions about food safety across Vietnam.

    Confession from C.P. Vietnam

    On Monday, a representative from C.P. Vietnam confirmed that the disturbing images were taken on March 26, 2022, at the Dung Nga slaughterhouse in Hau Giang province—an establishment that operates under C.P.’s own stringent standards. Arresting the growing tide of concern, the owner, Tran Thi Nga, clarified that her facility slaughters between 30 and 40 pigs daily. On the specific day in question, several pigs exhibited signs of skin disease. These infected pigs were never sold to consumers; instead, they were repurposed as fish feed after being inspected by C.P. executives.

    Conditions at the Slaughterhouse

    The two pig pieces featured in Lieu’s post, weighing in at a hefty 72.7 kilograms, were declared safe for processing as fish feed, denying any allegations of risky meat entering the consumer market.

    Lieu further alleged that during his time working at a C.P. retail outlet in the nearby Soc Trang Province, he observed numerous instances of diseased meats being sold to consumers—products he described as having lumps, abscesses, bad odors, or pus. Backing up his claims, he shared photos and screenshots of internal communications to illustrate the alarming situation.

    Regulatory Actions Unfold

    Despite these serious allegations, a recent raid of multiple C.P. outlets in Soc Trang revealed no major safety violations. However, one particular store was found to have let its food safety certificate lapse back in early March, lacking the necessary documentation for food safety training of its staff. The inspection team swiftly sealed the store, issuing an ultimatum to present the required certifications within five days.

    Established in 1993 as a subsidiary of Thailand’s Charoen Pokphand Group, C.P. Vietnam has developed extensive operations across the country, specializing in poultry, pork, eggs, seafood, and processed foods. The company is well-known for its sausages, pre-marinated chicken, and an array of convenience items. While C.P. leads in the market, it now faces a challenge to restore consumer trust following these alarming revelations.

    Questions & Answers

    What sparked the concern over C.P. Vietnam’s meat products?
    A Facebook post featuring images of diseased pork allegedly from a C.P. facility raised significant concerns about the company’s meat safety.

    What actions did authorities take in response to the allegations?
    Authorities raided several C.P. stores in Soc Trang, though no major safety violations were found; one shop was closed for not renewing its food safety certificate.

    What is C.P. Vietnam known for?
    C.P. Vietnam specializes in poultry, pork, eggs, seafood, and processed foods, including popular convenience items like sausages and marinated chicken.

  • Vietnam Delivers First Frozen Durian Shipment to China, Opening New Trade Frontiers

    Vietnam Delivers First Frozen Durian Shipment to China, Opening New Trade Frontiers

    The recent shipment of frozen durian, arriving through the Bac Luan II border gate as part of the bustling Mong Cai (Vietnam) and Dongxing (China) border collaboration, has certainly stirred excitement. Thoroughly examined and cleared by officials, this exquisite cargo hails from Vietnam’s Lam Dong province and is now set to make its way to various food processing companies across China.

    Frozen durian isn’t just a sweet tropical treat; its long shelf life and versatility make it a darling of both consumers and food processing firms alike in China, where culinary creativity knows no bounds. With the popularity of durian on the rise, the importation of this delicacy marks a significant shift in agricultural trade between China and Vietnam, expanding the range of exotic fruits available at this vital border.

    In a move that underscores the commitment to fostering trade relations, Dongxing Customs has deployed a team of experts focused on providing thorough support and guidance to businesses navigating the import-export landscape. This means smoother sailings for enterprises keen on tapping into the growing demand.

    During his recent diplomatic mission to China, Minister of Agriculture and Environment Do Duc Duy engaged in discussions with Sun Meijun, Minister of the General Administration of Customs. Their talks, held on May 28, emphasized the need to streamline challenges associated with exporting Vietnam’s agricultural treasures, particularly the king of fruits, durian.

    The statistics paint a promising picture: in the first four months of 2025, trade turnover of agricultural, forestry, and aquatic products between Vietnam and China soared to an impressive US$5.07 billion, reflecting a 3.7% increase from last year. However, Vietnam’s exports experienced a slight dip of 1.1% year-on-year to approximately $3.62 billion, while imports saw a notable rise of 17.6%, totaling $1.45 billion.

    As part of their ongoing commitment to enhancing trade, the two nations have inked 28 agreements and protocols focused on facilitating the exchange of agricultural products. Delightfully, a bouquet of Vietnamese offerings, from watermelon and mangosteen to crocodile and farmed monkeys, have found their way to China’s eager market.

    In what could be considered a delicious twist to the agricultural trade narrative, who knew that durian could be a diplomat’s secret weapon?

    Questions & Answers

    What are the benefits of frozen durian for consumers?
    Frozen durian boasts a long shelf life and is easy to incorporate into various dishes, making it a favored choice amongst both consumers and food processors.

    How has trade between Vietnam and China in agricultural products evolved?
    The trade turnover in the first four months of 2025 reached US$5.07 billion, a 3.7% increase compared to the previous year, showing a robust demand for agricultural products across borders.

    What agreements have Vietnam and China made regarding agricultural exports?
    The two countries have signed 28 agreements aimed at facilitating the import and export of a wide variety of agricultural products, ensuring a flourishing exchange of goods.

    Lees ook:

  • Gold Prices Hold Steady Amidst Global Bullion Decline

    Gold Prices Hold Steady Amidst Global Bullion Decline

    Vietnam’s gold market is experiencing a cautious day as prices struggle to rise back to their historic highs reached earlier this year. On Tuesday morning, the gold bar price from the Saigon Jewelry Company saw a modest increase of 0.17%, now standing at VND118 million (approximately US$4,529.31). Meanwhile, the price of gold rings ticked up by 0.18%, reaching VND114 million per tael, where one tael equals 37.5 grams or 1.2 ounces.

    Despite these slight gains, gold prices have skyrocketed by 40% since the start of the year, reflecting a persistent interest in the precious metal amid fluctuating global rates.

    Global Trends Impacting Local Prices

    Internationally, gold faced pressures as the dollar dipped from a recent peak, causing some hesitation among investors. The recent uncertainty surrounding the U.S.-China trade agreement has left market participants cautious, contributing to a limited decline in gold’s value, according to reports. Spot gold saw a 0.5% decline, reaching $3,362.57 per ounce after peaking earlier in the day. U.S. gold futures fell by 0.3% to $3,386.60.

    Brian Lan, managing director at GoldSilver Central in Singapore, commented on the current market dynamics: “As the dollar recovers slightly, gold prices have dropped. There is an inverse correlation right now.” Yet, Lan noted that gold continues to serve as a safe haven for investors, who have only slightly reduced their holdings. This caution contrasts with previous instances of easing global tensions when sell-offs were more pronounced.

    So, while the gold market may feel the pinch from outside forces, it remains a glittering beacon in unpredictable times. After all, who would’ve thought a metal could so elegantly dance with the complexities of international trade?

    Questions & Answers

    What is the current price of gold bars in Vietnam?
    Gold bars in Vietnam now sell for VND118 million, approximately US$4,529.31.

    How much has gold risen in price this year?
    Gold prices have surged by 40% since the beginning of the year.

    What factors are influencing the global gold market?
    The market is currently impacted by fluctuations in the dollar and ongoing uncertainties within U.S.-China trade relations.

  • Philippines Cracks Down on AirAsia Malaysia: Website Shut for Excessive Pricing Practices

    Philippines Cracks Down on AirAsia Malaysia: Website Shut for Excessive Pricing Practices

    The Philippine government has thrown a wrench in AirAsia’s online ticket sales by ordering the airline’s platform, AirAsia Move, to cease operations due to exorbitant pricing practices.

    Transportation Secretary Vince Dizon announced on June 2 that the Civil Aeronautics Board had issued a cease-and-desist order while teams collaborated with law enforcement to shut down the site.

    The aviation authority, tasked with regulating airfare caps in the Philippines, revealed that the company jacked up its prices following transport disruptions in Tacloban City, triggered by the closure of a vital bridge for truck access. “We will throw the full weight of the law on these unscrupulous online platforms that exploit our citizens,” Dizon declared with resolve.

    Plans are underway to swiftly file charges of “criminal economic sabotage” against the Malaysian-owned platform, Capital A Berhad. Over the preceding weekend, AirAsia Move controversially priced a one-way ticket from Manila to Tacloban City via Philippine Airlines at an astonishing PHP77,000 (US$1,382)—three times higher than the fare listed by the national carrier, as reported by the Transportation Ministry. “Clearly, this is just absurd,” Dizon asserted at a recent briefing, labeling AirAsia Move’s actions as nothing short of criminal.

    Questions & Answers

    What prompted the Philippine government to take action against AirAsia Move?
    The government acted after discovering that AirAsia Move was charging excessive fares, particularly following transport disruptions in Tacloban City.

    What is the Philippine government’s plan regarding AirAsia Move?
    Authorities intend to file a case for “criminal economic sabotage” against AirAsia Move to hold the platform accountable for its pricing practices.

    How high were the ticket prices set by AirAsia Move compared to the national carrier?
    AirAsia Move charged PHP77,000 for a one-way ticket from Manila to Tacloban City, which is three times the fare on Philippine Airlines’ website.

  • Alo Yoga Launches First Store in the Philippines, Expanding Its Global Reach

    Alo Yoga Launches First Store in the Philippines, Expanding Its Global Reach

    Alo Yoga’s Southeast Asian Adventure Begins

    Global wellness and lifestyle brand Alo Yoga has officially made its mark in the Philippines with the grand opening of its debut store at Greenbelt 5. Spanning an impressive 235.5 square meters, the flagship store showcases Alo Yoga’s extensive range of premium activewear and lifestyle apparel for women, men, and unisex enthusiasts alike.

    This milestone not only highlights Alo Yoga’s commitment to luxury activewear but also cements its status as a leader in holistic wellness across Southeast Asia.

    The opening event, hosted in collaboration with SSI Group, Inc., attracted Manila’s luminaries from the worlds of fashion, wellness, and vibrant content creation, making it a sparkling affair to remember. Best of all? The store is officially open for business!

    Questions & Answers

    What product range is available at the new Alo Yoga store?
    Alo Yoga’s new store features a comprehensive collection of premium activewear and lifestyle apparel suitable for women, men, and unisex.

    Who partnered with Alo Yoga for the store opening event?
    The opening event was organized in collaboration with SSI Group, Inc., bringing together Manila’s fashion, wellness, and content creation elite.

    When did the Alo Yoga store officially open its doors?
    The store is now officially open to the public, welcoming customers to explore its offerings and indulge in the brand’s luxurious lifestyle.

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  • Puma Spotlights Dynamic Athlete Collaborations in Exciting New Ad Campaign Across Sports

    Puma Spotlights Dynamic Athlete Collaborations in Exciting New Ad Campaign Across Sports

    Puma is stepping into the spotlight with its latest advertising campaigns, designed to showcase not just athletic prowess, but also the essence of team spirit and individual determination. According to GlobalData’s Global Ads Platform, these vibrant promotions are fueled by strong partnerships with renowned athletes, significantly amplifying Puma’s multi-sport narrative.

    A Dynamic Athletic Showcase

    Between February and April 2025, Puma launched a captivating series of YouTube ads that delve into various sports, including football, running, cricket, and motorsport. Each advertisement weaves narratives of perseverance and excellence, celebrating both individual journeys and the power of teamwork.

    Star Power Behind the Brand

    Sagar Kishor, an ads analyst at GlobalData, points to Puma’s strategic focus on athlete collaborations, particularly in football, where endorsements from superstars like Neymar Jr. and Christian Pulisic take center stage. But that’s just the tip of the iceberg; the brand has also embraced fans of running and cricket, introducing eye-catching products that blend performance with style. From the striking Ultra Ultimate boots to sleek F1 racewear and collaborations with AC Milan and Aston Martin, Puma is making waves across multiple arenas.

    Celebrating Resilience and Creativity

    The campaigns shine a spotlight on resilience, featuring athletes such as Diogo Dalot and Sandy Baltimore while promoting a culture of creativity and self-expression in sports. With apparel like the Aston Martin F1 overalls, Puma reinforces team identity and fosters a sense of community among fans. It’s not just about competition; it’s about belonging.

    Where Sport Meets Lifestyle

    Taking a step beyond traditional sport, Puma has seamlessly blended athleticism with lifestyle. Their offerings appeal to athletes who prioritize both function and fashion, exemplified by the stylish AC Milan x Off-White kit. It seems Puma understands that looking good while performing at your best is the ultimate goal.

    A New Approach to Running

    With campaigns such as “PUMA. GO WILD,” Puma is linking its brand gear to the mental and physical benefits of running. This initiative champions well-being and personal growth, inviting runners not just to hit the pavement, but to reconnect with their adventurous spirit.

    In the world of retail, when it comes to innovative campaigns, Puma is undeniably pushing the envelope. Who knows, perhaps their next big idea will involve shooting a commercial in zero gravity!

    Questions & Answers

    What themes does Puma’s latest advertising campaign focus on?
    The campaign highlights athletic achievement, team spirit, individual perseverance, and the pursuit of excellence.

    Which athletes are prominently featured in Puma’s ads?
    Key figures include Neymar Jr. and Christian Pulisic in football, as well as Diogo Dalot and Sandy Baltimore, showcasing the brand’s diverse athletic partnerships.

    What unique approach does Puma take in its advertising?
    Puma cleverly blends sports with lifestyle, promoting not only performance gear but also fashionable items, thus catering to athletes who appreciate style alongside function.

  • WorkJam Brings Next-Gen AI to the Frontline Workforce with Google Cloud

    WorkJam Brings Next-Gen AI to the Frontline Workforce with Google Cloud

    WorkJam Brings Next-Gen AI to the Frontline Workforce with Google Cloud

    WorkJam, the world’s leading digital frontline workplace, today announced an expansion of its strategic collaboration with Google Cloud to deliver enterprise-ready AI solutions built specifically for frontline teams. WorkJam already offers AI Agent, powered by Google’s Gemini models and cloud infrastructure, which is revolutionising how frontline organisations operate—bringing intelligent automation, productivity, and engagement to a new level and this feature will be the first of an innovative road map that will be AI-driven.

    Built on Google Cloud’s Industry-Leading AI Infrastructure

    WorkJam’s AI roadmap is engineered on Google Cloud, providing unmatched scalability, performance, and global reliability. With built-in enterprise-grade security and compliance, it is ready to meet the demands of complex industries such as retail, healthcare, logistics, and manufacturing.

    Powered by Google’s Gemini Models: Multimodal Intelligence for Real-World Impact

    Leveraging Google’s Gemini models, WorkJam delivers intelligent and conversational AI that understands text, voice, and visual inputs—creating more natural, intuitive user experiences for frontline employees. From task automation and knowledge retrieval to in-the-moment support, WorkJam’s AI Agent supercharges productivity and reduces friction in everyday operations.

    An AI Vision for the Future of Frontline Work

    WorkJam’s vision is to continue to transform the frontline experience by integrating Google’s Gemini models to deliver real-time intelligence, automation, and intuitive support directly into daily workflows. By combining voice, text, and visual understanding, WorkJam empowers frontline employees with instant access to knowledge, adaptive training, and seamless task execution—regardless of language or role. This reduces friction, streamlines operations, and unburdens managers to focus on high-value work. AI will enable intelligent labour utilisation, and ensure the right people are deployed at the right time, maximising productivity, engagement, and customer impact for every customer.

    A Collaboration Driving Innovation

    This collaboration enables WorkJam to co-innovate alongside Google Cloud, gaining early access to AI advancements and accelerating delivery of cutting-edge capabilities to global customers.

    Steven Kramer, CEO, WorkJam said, “By integrating the powerful reasoning capabilities of Google’s Gemini models into the WorkJam platform, we’re redefining labour utilisation for frontline teams across the APAC region. This isn’t just about smarter scheduling—it’s about giving managers and employees real-time support to make better decisions, balance workloads, and drive productivity. With Gemini models, WorkJam ensures the right people are in the right place at the right time, improving operational efficiency while creating a more engaging and productive work environment.”

    About WorkJam

    WorkJam was founded in 2014 to improve the lives of frontline workers. As the world’s leading digital frontline workplace, WorkJam combines communication, task management, scheduling tools, learning, and more – all on one app. It is the only complete and unified system designed to revolutionize the way HQs and their frontline work together, boosting efficiencies and productivity. Available in 50 languages with in–line translations, the app helps organizations bridge language barriers and create a more inclusive working environment for all. WorkJam introduces Total Workforce Orchestration®. To learn more, visit WorkJam.com or follow us on LinkedIn.

  • Pet care booms in Korea as seniors spend on furry friends

    Pet care booms in Korea as seniors spend on furry friends

    In the past three years, South Korea has seen a significant 30% increase in expenditures on pet care services and products. The most noteworthy growth is seen amongst consumers who are 60 years of age or older, a new report reveals.

    Analysis of Pet Spending Trends

    The report is based on an analysis of 24.85 million card transactions made by 3.54 million customers from 2021 to 2024. It shows a 39% increase in the number of consumers spending on pet-related goods and services, such as veterinary clinics and specialty pet stores, during this period.

    Veterinary services accounted for the lion’s share of the spending, comprising 75% of total pet-related expenditures. Comparatively, pet supply retailers accounted for 25% of the spending.

    Spending by Age Group

    The largest spending group was individuals in their 30s, accounting for 23% of pet-related spending. They were closely followed by those in their 20s and 40s who each accounted for 22% of the spending. Individuals in their 50s and those aged 60 and above represented 20% and 13% of the spending respectively.

    However, it’s noteworthy that the 60+ age group saw the highest increase in spending, going up by 60% from 2021. This includes a 77% increase in pet supply purchases and a 57% increase in veterinary costs.

    Online Shopping and Veterinary Services

    Online purchases also saw a significant boost, with 64% of pet products bought online in 2024, marking a 53% increase from three years earlier. Cat-related products experienced a notable 81% surge in online sales, surpassing the 49% increase in dog-related items.

    Veterinary clinics also increased in number, rising 24% from about 14,000 in 2021 to 17,000 in 2024. Spending was heavily concentrated among the larger providers, with the top 10% of clinics making up 68% of total revenue, up from 62% in 2021.

    “These figures underscore considerable shifts in consumer behavior, especially among older adults, and emphasize the growing dominance of online channels in the pet care market,” a spokesperson commented.

    Questions & Answers

    What accounted for the majority of pet-related expenditures in South Korea?
    In South Korea, the majority of pet-related expenditures were for veterinary services, which made up 75% of the total.

    Which age group had the highest growth in pet-related spending?
    The age group of 60 years and older saw the highest growth in pet-related spending, increasing by 60% since 2021.

    What rise did online purchases of pet products see between 2021 and 2024?
    Online purchases of pet products saw a significant rise between 2021 and 2024, with 64% of pet products being bought online in 2024, a 53% increase from three years earlier.

  • Hong Kong retail sales fall for 14th straight month in April

    Hong Kong retail sales fall for 14th straight month in April

    The continued downtrend in retail sales in Hong Kong marked its 14th consecutive month in April, as per the latest government data. Local consumers have adopted a cautious approach towards spending, and tourists from mainland China have been opening their wallets less frequently. Despite this, the decrease in sales wasn’t as significant as in March.

    In April, retail sales by value decreased by 2.3 per cent year-on-year to HK$28.9 billion (US$3.68 billion). This follows a 3.5 per cent drop in March. In terms of volume, there was a 3.3 per cent decline from the previous year, which is less than the revised 4.7 per cent fall in March.

    Despite an increase in tourists from mainland China, many were day-trippers who did not contribute significantly to retail sales. Furthermore, Hong Kong residents opted to spend more across the border, taking advantage of the strong position of the Hong Kong dollar against the Chinese yuan.

    A government spokesperson from Hong Kong highlighted the ongoing adjustments in consumption patterns and increased competition among businesses. These factors, coupled with an uncertain macroeconomic environment, pose challenges to the retail sector.

    Nonetheless, the spokesperson also noted that government initiatives to promote tourism and major events, along with steady growth in the mainland economy, are expected to boost consumer sentiment.

    The Hong Kong Tourism Board’s data showed that the number of visitors in April was 3.85 million, a 13.5 per cent increase from the same month last year. This compares with 3.82 million in March, 3.67 million in February, and 4.74 million in January.

    There were 2.81 million visitors from mainland China in April, showing a 13.3 per cent rise from a year ago. This is compared to 2.75 million in March, 2.77 million in February, and 3.73 million in January.

    In April, sales of jewellery, watches, clocks, and valuable gifts experienced a 1.7 per cent decline year-on-year, following a 3.4 per cent drop in March.

    Questions & Answers

    How has retail spending in Hong Kong changed in recent months?
    Retail spending in Hong Kong has seen a downtrend for 14 consecutive months as of April. Local consumers have been cautious in their spending, and visitors from mainland China have been spending less.

    How has tourism affected retail spending?
    Even though there has been an increase in tourists from mainland China, many are day-trippers who do not significantly contribute to retail sales. Additionally, Hong Kong residents have been spending more across the border due to the strength of the Hong Kong dollar against the Chinese yuan.

    What factors pose a challenge to the retail sector in Hong Kong?
    The ongoing changes in consumer consumption patterns, increased business competition, and an uncertain macroeconomic environment are all factors that present challenges to the retail sector in Hong Kong.

    Lees ook:

  • Chagee sees double-digit revenue growth in first quarter

    Chagee sees double-digit revenue growth in first quarter

    Chagee, a renowned Chinese milk tea chain, has reported a significant increase in its net revenues for the first quarter of this year. The figure soared to RMB3.39 billion (US$467.5 million), marking a robust growth of 35.4 per cent compared to the equivalent period last year.

    Financial Highlights of the Quarter

    The first quarter of the fiscal year was marked by strong financial performance for Chagee. The company’s net income also grew considerably, rising 13.8 per cent to RMB677.3 million. Meanwhile, operating income has been notably up from RMB705.9 million to RMB820.2 million, indicating an impressive operating margin of 24.2 per cent.

    Nevertheless, the company had to bear an increase in operating costs, which surged by 42.8 per cent, amounting to RMB2.57 billion year-on-year.

    Expansion Efforts and Product Innovation

    Chagee’s expansion strategy took a leap forward as they inaugurated key stores in Malaysia and Singapore during this quarter. The successful launch was followed by the opening of new outlets in Indonesia and the US in the consecutive months of April and May.

    Staying true to its commitment to product innovation, Chagee continued the introduction of new products. They included a range of low-caffeine beverages, designed to cater to the preference of customers who enjoy their teas later in the day.

    Questions & Answers

    What was the percentage growth in Chagee’s net revenues for the first quarter compared to the same period last year?
    Chagee’s net revenues for the first quarter of this year grew by 35.4 per cent compared to the same period last year.

    What new markets did Chagee enter during this quarter?
    Chagee entered the Malaysian and Singaporean markets this quarter, followed by expansions into Indonesia and the US.

    What new product line did Chagee introduce recently?
    Chagee introduced a new line of low-caffeine beverages, allowing customers to enjoy their teas later in the day.

  • Uniqlo debuts small-format ‘touchpoint’ concept store in Singapore

    Uniqlo debuts small-format ‘touchpoint’ concept store in Singapore

    Uniqlo, the Japanese casual wear designer, has launched a new innovative retail store model in Singapore. This pioneering initiative, referred to as the touchpoint store, is located at Velocity at Novena Square.

    Revolutionizing the Retail Experience

    The touchpoint store is a unique prototype that is only 10% the size of a traditional Uniqlo outlet. The store primarily serves as a collection point for click-and-collect orders. The innovative design of the store offers an efficient, digitally integrated shopping experience for customers.

    Customers can now effortlessly place their orders through the Uniqlo App or the company’s website. The touchpoint store offers the convenience of same-day collection, with no minimum purchase requirements or additional delivery fees. This new approach redefines the retail space, providing customers with a unified online and offline shopping journey.

    Redefining the Role of Physical Retail

    Cecilia Tan, the e-commerce director for Uniqlo Singapore, has stated that the brand’s goal is to maximize the store footprint for consumers, specifically those who prefer a flexible combination of online and offline (O2O) shopping experiences.

    She highlighted that the Velocity store is a prime example of how Uniqlo is merging the efficiency of digital platforms with the accessibility of physical retail locations. Tan expressed that improving customer engagement with the brand’s LifeWear range was paramount. She emphasized the brand’s dedication to providing high-quality, thoughtful everyday wear to more consumers, regardless of their location.

    Questions & Answers

    What is the main purpose of Uniqlo’s touchpoint store?
    The touchpoint store serves as a hub for click and collect orders, providing a more efficient and digitally integrated shopping experience for customers.

    How does the touchpoint store benefit customers?
    Customers can place their orders through the Uniqlo App or the brand’s website and collect them from the store on the same day without any minimum spend or delivery fees.

    What is the aim of introducing the touchpoint store, according to Cecilia Tan, the e-commerce director for Uniqlo Singapore?
    The aim is to optimize the store footprint for consumers who prefer a flexible online-to-offline shopping experience, combining digital efficiency with physical retail accessibility.

  • Dior creative director Maria Grazia Chiuri steps down

    Dior creative director Maria Grazia Chiuri steps down

    Maria Grazia Chiuri, the first woman to assume the role of creative director of women’s collection at Dior, has stepped down, marking one of the significant changes triggered by the LVMH board in the brand.

    Chiuri, who brought a powerful feminine touch to the brand, joined Dior in 2016, establishing a strong presence in the industry. Her final act as creative director was to oversee the Dior cruise fashion show in Rome earlier this week.

    Prior to her tenure with Dior, Chiuri brought her unique design insights and feminist approach to notable fashion powerhouses like Valentino and Fendi. Her impact was immediately felt at Dior, as seen in the collection she introduced during her inaugural show.

    Delphine Arnault, the chairman and CEO of Christian Dior, recognized Chiuri’s substantial contribution to the brand. He commented, “She has left an indelible mark on the history of Christian Dior, significantly boosting its growth and becoming the first woman to spearhead the creation of women’s collections.”

    Dior has not yet announced who will succeed Chiuri in her trailblazing role. However, Jonathan Anderson, who recently vacated the position of creative director at Loewe, has been named Dior’s menswear creative director. Fashion enthusiasts are eagerly anticipating his first collection, which will be unveiled on June 27 during the Paris Fashion Week.

    Questions & Answers

    What position did Maria Grazia Chiuri hold at Dior before her resignation?
    Maria Grazia Chiuri was the creative director of Dior’s women’s collection.

    Who has been appointed as the new menswear creative director at Dior?
    Jonathan Anderson, the former creative director at Loewe, has been appointed as the new menswear creative director at Dior.

    When can we expect Jonathan Anderson’s first collection to debut?
    Jonathan Anderson’s first collection for Dior is scheduled to debut on June 27 during the Paris Fashion Week.

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