Retail News CRM

Author: Mei Ling Tan

  • Used O2O motorbike trade debuts in Vietnam

    Used O2O motorbike trade debuts in Vietnam

    OKXE has pioneered the online to offline (O2O) sale of used motorbikes, rejuvenating the market.

    The inadequacies and bad experience of users when buying used motorbikes are the reason why Wooseok Kim, CEO of OKXE launched an online platform trading used motorbikes in Vietnam.

    “We want to solve the inconvenience of users when trading used motorbikes, providing an easier, safer and more enjoyable online platform,” said the OKXE CEO.

    Founded in August 2018, the initial goal of this start-up is to create a more explicit and secure second-hand motorbike market for users. At the time, OKXE was one of the first mobile platforms in Vietnam in the field. However, a lot of Vietnamese still consider motorbikes to be assets of great value, and online transactions can be problematic due to fraud, subpar autos, and inaccurate prices. The company’s CEO admitted his online platform has only met about 50-60 percent of the original target.

    Operational for more than five years, OKXE Vietnam opened a motorbike service station, put into operation at the end of May 2022, creating a complete O2O model.

    This was a bold strategy, because the O2O model has not been applied by many in the field, said a company representative. “While focusing on the new model, OKXE maintains investment in expanding the market. This is a dual goal that we want to achieve in future.”

    The OKXE service station is expected to provide users with a more comprehensive experience based on the expanding and evolving ecosystem. The service station offers extra services in addition to its online offerings, including quality checks on used motorbikes, price recommendations, consignment acceptance, and sales negotiations.

    The first OKXE Station covers 500 square meters, including: service reception, motorbike wash, refurbishment repair, quality inspection, consignment display, cafe counter…

    This company’s research indicates the majority of Vietnamese frequently pick traditional motorcycle marketplaces or secondhand motorbike shops. By cooperating with this trading approach, OKXE opted to create a national network of collaboration rather than viewing it as a rival.

    To be more precise, this business leverages a plentiful source of clients and used vehicles from its partners, gradually enhancing and perfecting its service chain. On the other hand, OKXE uses a platform with millions of users to assist partners in selling motorbikes more quickly. Additionally, the service center aims to help partners with financial assistance packages for motorbike purchases, warranties, after-sales, photography support, and online sales.

    According to an OKXE representative, the company’s platform has experienced steady growth from the time of launch until now and is always improving. “Currently, the OKXE app has reached seven million downloads on iOS and Android platforms. More than 500,000 motorbikes have been registered and sold successfully through the application”, it was added. “As of July 2022, OKXE Vietnam has nearly 2,000 partner stores nationwide.”

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  • Stores’ claims of accepting Pi payment turn out to be misleading

    Stores’ claims of accepting Pi payment turn out to be misleading

    Some stores accept payment in cryptocurrency Pi but only partially and require buyers to pay mainly in cash.

    “I saw a post selling a used iPhone 11 and thought I could buy it with a dozen Pi tokens,” Thanh Son of HCMC said.

    But it turned out he could only pay 10 percent with Pi and the remaining VND12.5 million ($535) had to be paid in cash.

    “I can easily buy the same phone for VND12.5 million without spending a single Pi,” he said wistfully, adding it was a trick sellers used to entice Pi owners.

    He later contacted some other sellers and got pretty much the same answer.

    “Some places require a smaller proportion of cash but they undervalue Pi.”

    Some investors had begun to claim they bought food and equipment using Pi on social media since July 13 when the cryptocurrency’s developers allowed it to be traded.

    Cryptocurrencies are not legal tender in Vietnam, and issuing, trading or using one for payment attract fines of up to VND100 million.

    Sellers try to avoid legal risks by calling deals using Pi “exchanges” rather than “transactions.”

    A person who asked not to be identified said they had put down a VND10 million deposit for a car after the dealer made an offer “exclusively for the Pi owner community.”

    But the seller actually does not accept payment using Pi.

    He reportedly told the person: “Once Pi enters the open mainnet phase, you guys, Pi owners, can offer it for legal tender. Then you bring the legal tender to us and take your car.”

    The dealer claimed over 100 people had deposited. It is far from clear when, and if ever, the crypto will become legal tender.

    There is a chance the people would lose their deposits, an expert warned.

  • Gasoline prices fall fourth consecutive time

    Gasoline prices fall fourth consecutive time

    Vietnam gasoline prices on Monday dropped 1.8 percent to the lowest since Feb. 21 as global rates declined.

    A liter of popular RON 95 gasoline now costs VND25,600 ($1.10), while that of biofuel RON 92 E5 costs VND24,620.

    This means prices have fallen 21.3-22.1 percent since this year’s peak on June 21.

    On the global market, gasoline prices have decreased by 1.22-1.54 percent in the last 10 days, according to data from the Ministry of Industry and Trade and the Ministry of Finance.

    WTI crude futures fell over 2 percent to below $98 barrel Monday as fears of a global slowdown outweighed continued supply disruptions and market tightness.
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  • Vinamilk profits continue to fall

    Vinamilk profits continue to fall

    Vinamilk reported a 26-percent year-on-year fall in second-quarter profits to VND2.1 trillion (US$89.97 million), and blamed it on inflation driving demand down and costs up.

    The dairy giant’s revenues fell by 5 percent to VND14.93 trillion.

    In the first five months sales of fast moving consumer goods fell by 2 percent, according to data from market research firm Nielsen.

    Vinamilk also struggled to maintain its dominance in the domestic market and saw exports drop by 12 percent due to lower global demand and higher transport costs.

    However, its profit margin rose by 0.2 percentage points from Q1, the first increase since 2020.

    Besides, its U.S. and Cambodian subsidiaries, Driftwood and Angkormilk, reported sales growth of 40 and 20 percent.

    This year it expects profits to decline by 7 percent, a second straight year of falling profits, due to rising costs of raw materials and transportation.

    But securities brokerages said lower milk powder prices would increase the profit margins for the dairy industry this year, including for Vinamilk.

    SSI Securities expects the company’s net profits to rise by 11 percent, while VnDirect Securities forecast a 7.5-percent increase.

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  • Apple will ‘soon’ inundate the App Store with more ads

    Apple will ‘soon’ inundate the App Store with more ads

    While Apple froze third-party advertising cookies on its platform, resulting in the first revenue dip of Facebook since its inception, the App Store application shop has been showing ads in its search results as well as the respective tab for a while now.
    Brace yourselves, because these ads are now coming throughout the App Store, starting with the Today homepage tab, but they could also appear on each individual app page in the You Might Also Like section. The advertisement will allow developers to be promoting their own apps and Apple its own stuff as it sees fit according to its own privacy ground rules.
    The visible ads will be denoted as such and Apple won’t be targeting users below eighteen for personalized advertising, plus it won’t employ granular targeting by using your sensitive data like the other two ad behemoths Facebook and Google. That’s all part of Apple’s privacy and transparency policy, as it said in a dedicated statement:
    Apple Search Ads provides opportunities for developers of all sizes to grow their business. Like our other advertising offerings, these new ad placements are built upon the same foundation—they will only contain content from apps’ approved App Store product pages, and will adhere to the same rigorous privacy standards.

    App Store developers are also happy with the ad development, as Ron Schneidermann of the app AllTrails states that “Apple Search Ads helped us attract new, more engaged customers across markets. We rely on Apple Search Ads for cost-effective customer acquisition – it’s a critical component of our growth strategy. As they become available, we plan to invest in new placements to reach even more customers on the App Store and continue to drive our business growth.”

    As for when will the new App Store advertising spree happen in earnest, Apple only said that the ad locations are now in their alpha state and it will “soon” start rolling out the testing phase, so don’t be surprised if ads appear on your iPhone application store in tabs where there were none of those pesky little nuggets were present before Apple’s move.
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  • Fitbit Luxe and Charge 5 updated with much

    Fitbit Luxe and Charge 5 updated with much

    Last month Fitbit quietly rolled out an update for Charge 5, one of its most advanced fitness trackers. Although it didn’t say anything about what the update should change, we did learn that the Google-owned company added the ability to find your phone via the fitness tracker.

    Today, Fitbit confirmed that the update not only introduced the much-needed feature, but also added a few clockfaces. The above image shows one clockface in two color variations – Boom, plus an additional clockface for another Fitbit wearable device, the Luxe.

    Just to be clear, Fitbit Luxe owners will get all three clockfaces, while Charge 5 will only receive the Boom clockface available in two versions. Besides these new customization options, Luxe users will also get the option to find their phones via the wearable device, just like the Charge 5.

    To do that, you’ll have to install the new Find Phone app, open it on your tracker, tap Find Phone, and your phone should start to ring loudly, even if it’s set on the DnD (Do Not Disturb) mode. If you successfully locate your phone, you can tap Cancel to stop it from ringing.

    Fitbit says the update is now available, although Charge 5 users might have already picked this one up more than a week ago when it surfaced for the first time.

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  • Spotify launches individual buttons for Premium users

    Spotify launches individual buttons for Premium users

    Not a week goes by without Spotify launching a new feature for its customers. The music streaming service announced gains in both paid and free customers back in April, so the new often-released new features are meant to keep subscribers loyal and turn free customers into paying ones.

    The most recent new feature announced by Spotify is exclusively aimed at turning free users into subscribers. The music streaming service revealed plans to launch individual buttons for Shuffle and Play, which will only be available for Spotify Premium users.

    Spotify has a single button for that merges these two important options – Play and Shuffle, but an upcoming update will separate the two for Spotify Premium users. It will make it clearer and easier to choose the mode that a user prefers at the top of playlists and albums.

    According to Spotify, the new feature will be rolled out on iOS and Android mobile devices for Spotify Premium users worldwide over the coming weeks, so look for the two new buttons as soon as you see an update for your Spotify app. Don’t bother though if you’re using Spotify’s free tier.

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  • PLDT’s Trans-Pacific Cable System Is Now Activated

    PLDT’s Trans-Pacific Cable System Is Now Activated

    The last test 14,000-kilometer cable system is the fastest in the country, enabling direct data cable link to the US and Japan. It’s also expected to improve the Philippines’ international data capacity and boost its digital infrastructure.

    PLDT and Smart President and CEO Alfredo Panlilio said, “The PLDT Group takes pride in leading our nation’s digital advancement, made possible through dynamic synergies with government and private sector partners.”

    He added, “Our investment in Jupiter will exponentially boost the Philippines’ international capacity, ramp up the global trade of digital services and propel the nation’s digital economy, while increasing internet speed and reliability for Filipinos.”

    The company also said that this new system will triple PLDT’s international capacity to about 60 Terabit/s, which will be beneficial for the country since a large volume of Internet content and services consumed by Filipinos goes through servers from the US and Japan.

    Currently, PLDT has extensive participation in 16 international submarine cable networks and is set to expand further with the completion of two more major international cable systems, namely Asia Direct Cable (ADC) and the APRICOT cable system, set to be completed in the next two years. It also operates the most expansive fiber optic network among local ISPs at 803,000 kilometers, linking all islands in the archipelago with fiber connectivity and powering local economies and communities in the cities and regions.

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  • Elevating Customer Experience in the Telecom Sector

    Elevating Customer Experience in the Telecom Sector

    Communication service providers (CSPs) understand the value of elevating customer experience and digital engagements to stand out from competition. This shift to an increased focus on digital customer experiences is essential to CSPs’ transformational journeys.

    Customer experience is a critical aspect in every service business and a main differentiator in a competitive telecom landscape. Instead of merely being focused on upgrading network capabilities, CSPs are increasingly challenged to prioritize intuitive, seamless designs that simplify customer engagement in order to provide what they want and need. For instance, a single mobile app can serve as a  one-stop platform for myriad services, even billing.

    As CSPs reinvent their relationships with customers, cloud capabilities and features such as virtual assistants or chatbots are also becoming commonplace to streamline customer service processes. Looking ahead, customer experiences can be enhanced with augmented reality to support user functions across markets.

    In a report specific to the Indian market, KPMG cited that improving customer experiences can help companies, including telcos, raise their valuation by 125% to 400%. Enhanced customer experience is key to building long-term customer relationships and creating sustained value to help companies grow.

    Personalization Key to Evolving Customer Experiences

    Personalization in services is important in elevating customer experiences. Big data and analytics are instrumental in creating tailored and specific experiences based on the characteristics of customers. They provide useful metrics that allow operators to track customer satisfaction and more.

    Round-the-clock and consistent, reliable services add value to an omnichannel customer journey that facilitates meaningful touch points. Building from past behaviours and patterns, customer engagement is advanced to a new level that allows customers to access a multitude of services across multiple channels whenever desired, ensuring that an end-to-end experience is created for customers.

    Multi-Faceted service assurance is key, as customers expect more from their voice, text and mobile services. With pay TV growing, operators need to have a unified view of customers wants and needs, leveraging real time analytics to achieve relevant breakthroughs.

    In order to capture more subscribers, billing and payment is another area to target improvements. In one such example, countries such as Indonesia and the Philippines have implemented staggered mobile data plans so that subscribers who tend to spend in small amounts are not bound by long-term data plans. This includes giving postpaid pay-as-you-go subscribers the option to switch to volume-based plans should their data limit be exceeded, or a “pay-to-boost” option where needed.

    SaaS to Gain Competitive Advantage

    Traditional legacy models are giving way to engagement-centric SaaS models for customer engagement functions as one way to achieve scalability and quicker . Another benefit is lower set cost and increased IT cost savings, estimated by Analysys Mason to amount to as much as approximately 25% IT cost savings over the course of five years. The value of the global SaaS market for OSS and BSS is estimated to be at $10.7 billion by 2023, representing a 29.5% compound annual growth rate since 2018.

    As CSPs continue to digitally transform, SaaS spending has been growing. In 2019, SaaS accounted for 5% of CSP’s operational expenditure. This figure is expected to reach at least 11% by 2023.

    In Singapore, Circle Global recently completed the acquisition of the mobile virtual network enabler (MVNE) business, a US-based cloud software, communications platform company. With this strategic move, Circle Global aims to expand its SaaS and 5G capabilities.

    Service providers are also capturing growth opportunities in this market, as they roll out more SaaS in their service portfolios targeting CSPs that will need to update processes in the 5G era. As a cloud-first strategy takes root in the industry, CSPs step forward with a suite of easy-to-adopt solutions to take customer experience to the next level.

    Since “one” makes a “w” sound, the article is “a”

    Not sure about this: “turnaround” is a more natural process of services or fulfillment whereas “turnabout” is a more sudden move in a different direction. A turnaround is smoother and a turnabout is a sudden reaction

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  • SES and AXESS Networks Partner for Smart Mining

    SES and AXESS Networks Partner for Smart Mining

    SES and AXESS Networks (AXESS), a leading provider of satellite connectivity solutions, are accelerating the digital transition of the mining industry with SES’s second-generation medium earth orbit (MEO) system O3b mPOWER. Under this multi-year, multi-million agreement, the mining sector users will be able to benefit from the cutting-edge low-latency Onshore Energy & Mining mPOWERED connectivity service.

    SES’s Onshore Energy & Mining mPOWERED service will provide the highest throughput available from a satellite system and deliver dedicated and carrier-grade networks to AXESS’ customers reliably, regardless of their remote locations. O3b mPOWER can deliver multiple gigabits per second per site, enabling AXESS’ customers to accelerate the digitalization of their operations and sites globally, boosting profitability through access to new applications and efficiency, as well as improving staff safety and welfare. SES’s second-generation MEO connectivity service also brings the cloud closer to end customers and can enable edge computing to support the use of 5G and IoT in the mining industry.

    Simon GattySaunt, Vice President of Networks Sales, Europe, at SES, said, “Transition towards smart mining is already turbocharging profits, and revolutionizing industry’s environmental and societal impact. We are proud of the success our partnership with AXESS has already had in facilitating this change, thanks to our multi-orbit GEO and MEO network, and are excited to further accelerate it with the O3b mPOWER service.”

    Guido Neumann, President AXESS EMEA, said, “This agreement builds on a long and successful relationship with SES, which has helped us to provide our customers with the best-in-class, reliable and resilient connectivity for their operations. As we are seeing a considerable uptake in demand for the carrier-grade solutions globally, but especially in the EMEA and APAC region, we are honored to play an active role in scaling the digital transition in the mining sector through introducing O3b mPOWER and the Onshore Energy & Mining mPOWERED service.”

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  • UBS Appoints Hong Kong Asset Management Head

    UBS Appoints Hong Kong Asset Management Head

    UBS has named a new head for its Hong Kong asset management unit, succeeding Adolfo Oliete who will relocate to London.

    Hayden Briscoe has been appointed as UBS Asset Management head for Hong Kong, according to an internal memo, reporting to APAC asset management head Raymond Yin.

    Briscoe started his career in Sydney before moving to Hong Kong in 2013 and joining the asset management unit in 2016. He will also retain his existing role as head of GEM and APAC for fixed income.

    Briscoe succeeds Adolfo Oliete who will return to London over the summer and continue his role as hedge fund solutions (HFS) head of APAC investments and a member of the HFS global business’ senior leadership team. Oliete will relocate following a 14-month stint as asset management head of Hong Kong.

    A spokesperson for the bank confirmed the contents of the memo.

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  • Long Chau Pharmacy sees revenues triple in H1

    Long Chau Pharmacy sees revenues triple in H1

    Long Chau Pharmacy tripled its revenues year-on-year in the first half-year to VND4 trillion ($171.38 million) and opened hundreds of new stores.

    It increased its contribution to FPT Retail’s revenues from 15 percent to nearly 30 percent in the period.

    At the end of June, Long Chau had 678 pharmacies, 278 more than at the beginning of the year.

    FPT Retail, a subsidiary of tech giant FPT, expects the pharmacy chain to make a profit of VND50-100 billion this year.

    Another major contributor to FPT Retail’s revenues is electronics retailer FPTShop, which saw revenues rise by 31 percent to VND10 trillion.

  • Quarter chicken, free chips and EV charging

    Quarter chicken, free chips and EV charging

    The sometimes maligned but nevertheless delicious red-headed stepchild of Australian fast-food chains, Red Rooster, has partnered with Evie Networks to roll out EV charging at its stores across the country.

    Red Rooster and Evie Networks on Monday celebrated the installation of the first two fast charger at the recently refurbished Red Rooster in Vermont, in Melbourne’s eastern suburbs, the first of many slated to be rolled out across the fast-food chain’s network.

    “Gone are the days where we drive to fuel stations; instead, drivers can charge while they grab some chicken and chips,” said Chris Mills, Evie Networks CEO.

    The general consensus on Plugshare is that the location is a good one for a quick top up, and the temptation of free chips has not been lost on EV drivers. To claim your free chips, just show the Evie app screen at the counter.

    The announcement follows a similar partnership unveiled in late-2021 between Evie Networks and another Australia fast-food chain, Hungry Jacks.

  • YouTube Music app adds useful new feature for Android

    YouTube Music app adds useful new feature for Android

    If you like music, you probably use the YouTube Music app often. You can go to the app and find the song you want using the app’s search tool, or you can ask your digital assistant to play a specific song by a specific artist (for example, “play Revolution Number 9 by the Beatles on YouTube Music”). You might be asked to unlock your phone first. Besides its vast library of original performances, YouTube Music has a wide selection of covers which allows the app to recommend a selection of them along with alternative takes, live versions, and more.
    Depending on the song, while you are playing the tune, directly from the Now Playing screen you can find a list of covers for the song you are currently streaming. Again, let’s use the Fab Four for this example. So you’re listening to Come Together and you are curious to listen to alternative versions of the song. From the Now Playing screen, tap the Related tab on the bottom right of the screen.
    Scroll down to Other performances and you’ll see cover versions of Come Together from the likes of Ike and Tina Turner (!) and Jennel Garcia. There is also a live version sung by the late John Lennon (who of course wrote the tune and recorded it with the rest of the Beatles). Speaking of the latter, there is also an alternative take recorded by the Liverpudlians included in this list.
    The covers, live performances, and alternative takes listed under Other performances will change each time you look it up as you can see from the embedded screenshot included in this story. That list of covers for Come Together includes one performed by the unlikely trio of Steven Tyler, Alice Cooper, and Marilyn Manson

    Scrolling down past the Other performances reveals a carousel titled Similar artists. Below that, the More From carousel lists additional songs available from the same artist or group. That is followed by a biography of the artist or group listed under About the artist. Some YouTube Music users spotted the new features as early as a month ago while other iOS and Android users are just getting them now.

    You can load the YouTube Music app on your phone from the Google Play Store for Android handsets, and the Apple App Store for iOS.
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  • HDBank reports $227 mln profit in first half

    HDBank reports $227 mln profit in first half

    Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has announced business results for the first half of 2022 with profit before tax of VND5.304 trillion ($227.25 million), up 26.5 percent year-on-year.

    First-half profit completed 54 percent of the annual budget. The parent bank’s fee income rose 113 percent year-on-year while the separate NPL ratio was 0.93 percent.

    In the second quarter, all key performance indicators rose significantly. Consolidated total operating income in the second quarter reached VND5.582 trillion ($239 million), up 31.2 percent year-on-year. Profit before tax reached VND2.776 trillion, up 32.6 percent year-on-year.

    Total operating income reached VND10.704 trillion, up 27.1 percent year-on-year, in which net interest income rose by 25.8 percent, and non-interest income, by 32.6 percent year-on-year. Bancassurance and other cashless payment services achieved growth with net fee income double that of the same period last year.

    HDBank has implemented technologies to improve productivity and enhance risk management, resulting in the modest increase of 19.4 percent year-on-year in operating expenses. Cost-income ratios improved to 37 percent from 39.4 percent a year earlier. Profitability ratios including ROAE and ROAA were 25.6 percent and 2.24 percent respectively, both higher than those last year.

    Prudential ratios are at healthy levels with CAR (under Basel II) reaching 14.9 percent – the market-leading level. The parent bank’s NPL ratio was 0.93 percent while its loan loss reserve ratio reached the comfortable level of 109 percent.

    HDBank is implementing a plan to raise charter capital as approved by AGM by issuing about 503 million shares to distribute 2021 dividend by stocks, at the payout ratio of 25 percent. Upon completion, charter capital will increase to VND25.303 trillion from VND20.273 trillion. The re-investment of retained earnings into the bank’s business activities will further strengthen the bank’s financial capability, preparing it for strong business growth and profit generation according to the strategy approved by shareholders.

    As of June 30, total mobilized funds exceeded VND340 trillion. Total consolidated lending reached over VND245 trillion, up 14.8 percent from that of Dec. 31, 2021. Customers including those in rural areas, exporters, supply chain clients, household businesses, micro-businesses and those eligible for green finance programs all enjoyed HDBank’s favorable lending programs.

    HDBank is also paying great attention to its corporate social responsibility. The bank collaborated with Tuoi Tre (Youth) Newspaper to launch a cashless payment fair for workers in industrial zones, providing them with the chance to experience cashless payment solutions and online account opening.

    HDBank also contributed to the financing of gratitude house construction to honor and show appreciation to families who made great contributions to the revolution, supported localities vulnerable to floods and storms in central Vietnam, and awarded scholarships to underprivileged students who achieved good performance at universities.

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