Retail News CRM

Author: Mei Ling Tan

  • South Korean retailer CJ Olive Young to raise US$1 billion in local IPO

    South Korean retailer CJ Olive Young to raise US$1 billion in local IPO

    South Korean health and beauty chain CJ Olive Young is looking to raise around US$1 billion in an initial public offering, as the company seeks to tap a booming market for new listings.

    The listing, which two sources aware of the matter say is set to take place early next year, comes as Korean IPOs have raised $21.4 billion so far this year, almost seven times the amount raised a year earlier, according to Refinitiv data.

    CJ Olive Young has appointed Mirae Asset Securities and Morgan Stanley as the main underwriters on the transaction while KB Securities and Credit Suisse will act as co-underwriters, a spokesperson told Reuters.

    A $1 billion fundraising, slated for early next year, would be double the amount the company was expected to raise, according to some bankers.

    Mirae Asset Securities, Credit Suisse and Morgan Stanley declined to comment to Reuters. KB Securities did not immediately respond to a request for comment.

    CJ Olive Young has about 1200 stores across South Korea, and delivers its products through a global distribution platform to 150 countries, according to its website.

    It reported an operating profit of $84.4 million last year, the company’s filing showed. The largest shareholder is CJ Corp with a 55.24-per-cent stake as of December.

    So far this year, 92 companies have listed in Korea compared with 59 last year, driven by robust retail demand, Refinitiv data shows.

    E-commerce firm Coupang Inc raised $4.5 billion when it was listed in New York in March, while video-game developer Krafton Inc raised $3.7 billion in its July listing in Seoul.

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  • JustKitchen expands into the Philippines

    JustKitchen expands into the Philippines

    Ghost kitchens operator, JustKitchen, has expanded its presence into the Philippines through a joint venture with TDG Ventures (TVI).

    Named ‘JV Co’, the joint venture will be the exclusive operator of the JustKitchen brand and distributor of its products in the country. The launch is part of JustKitchen’s global expansion plan, which will see kitchens opening in markets including Japan, Singapore, Malaysia and Vietnam next year.

    “Forming this joint venture with TVI to enter the Philippines market is a significant milestone for JustKitchen as it marks the third country in which our company will be operating in just a short period,” said Jason Chen, co-founder and CEO.

    “With our home base in Taiwan, established operations in Hong Kong, and the addition of this large population to our customer base, we continue to execute on our international growth plan to bring JustKitchen’s unique operating model, portfolio of food brands, and technology stack to new markets,” he said.

    Under the partnership, JustKitchen will maintain a 51 percent ownership interest in JV Co with the remainder owned by TVI. The joint venture will develop the infrastructure necessary to replicate the operating model from Taiwan and shall lease out kitchens to sub-franchisees. Ghost kitchen operation is expected to begin in the first quarter of next year.

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  • Vietnam Airlines launches e-commerce platform

    Vietnam Airlines launches e-commerce platform

    Vietnam Airlines has launched a new e-commerce platform VNAMALL, focused on selling imported products from countries to which it operates.

    As many as 300 products are available starting Monday on the platform, mainly pastries, fruit and wine.

    The airline also sells food typically available on its flights.

    It also introduced Vietnam Airlines Gift Card that comes with perks like more check-in baggage and priority check-in.

    VNAMALL is the latest initiative of the loss-making national flag carrier, which has been struggling to overcome Covid-19 impacts.

    The airline, in which the state holds a 86 percent stake, recorded an accumulated loss of VND17.77 trillion ($780.48 million) as of June 30.

  • V2Food launches Taste-a-tarian campaign with 1000 free burgers

    V2Food launches Taste-a-tarian campaign with 1000 free burgers

    Hero has released its first major work for plant-based meat company V2Food since winning the creative and strategy back in April this year, which is also the brand’s first campaign.

    The ‘Taste-a-tarian’ campaign presents V2Food as the option that satisfies every dietary requirement, as well as launches V2Food’s new brand platform ‘We agree to V2’.

    The just over a minute spot shows a family sitting down for dinner, with each member having a specific diet that needs to be catered for. At the end of the spot, it is revealed that V2Food will satisfy everyone as everyone is a “Taste-a-tarian”.

    There is also a 30-second cut of the video.

    V2Food’s chief growth officer Andrew May said: “As Australians, we cherish meal-times and social occasions and it’s our goal at v2 to deliver great tasting food that satisfies every palate. Our ‘Taste-a-tarian’ campaign shows that v2’s range of plant-based protein products deliver that same meaty taste and makes meals easy, no matter your dietary preference. We can’t think of a better campaign launch to kick off our partnership with HERO, who delivered a fully integrated campaign across strategy, creative, media planning and media implementation.”

    Hero’s managing director, digital Adam Beaupeurt added: “We’re thrilled to launch our first major campaign with V2food. By recognizing that there is a need for a version 2 of the food system, v2food plays a pivotal role in changing the way we all think about meat consumption and food sustainably. This is another brilliant example of media and creative integration delivered by Hero’s Borderless Creativity process – paramount to ensuring the brand entertains and connects with the 50% of Aussies who are looking at reducing their meat intake.”

    The campaign premiered during Ten’s Celebrity Masterchef finale last night.

    The campaign, as well as TV, is on out-of-home, retail proximity, BVOD, social, digital, and electric car charging station Jost.

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  • Update for Google Messages rolls out now turning iMessage reactions into emoji

    Update for Google Messages rolls out now turning iMessage reactions into emoji

    It’s the modern, digital version of the Hatfields and McCoys. We are talking about the blue text bubble vs. the green text bubble. When an Apple iPhone user is sending iMessages to another iPhone user, the text is inside a blue “balloon.” But if even just one Android user joins a group chat, the bubbles turn green and outrage follows. Yes, iMessages and Google Messages are not compatible.

    Just a few days ago we told you that Google was planning on sending out an update to Google Messages that will allow reactions from iPhone users using iMessages to appear as an emoji on Android Messages. Currently, a reaction sent by an iPhone user appears as words on Google Messages such as “Liked an image” or “Emphasized “We’re on our way”.

    According to 9to5Google, the update has slowly been rolling out. Screenshots provided by Twitter user jvolkman (@jvolkman) show that reactions sent from an iPhone user resulted in the appearance of the same emoji showing up in Google Messages as though the reaction was sent from an Android user messaging from the RCS platform. Tapping on the reaction on an Android phone shows that it was “Translated from iPhone.”

    Not all reactions from iMessages can be perfectly matched to an RCS emoji. For example, the “love” reaction on iMessage becomes the heart-eyes emoji on RCS and the laugh reaction sent from iMessages becomes the laughing face emoji.

    RCS or Rich Communication Service is Google’s attempt to provide the iMessages experience for Android users. Instead of using a cellular network, RCS runs through the data network which means that it can be used on Wi-Fi  even if there is no internet connection. Because RCS uses a data connection, messages can contain as many as 8,000 characters as opposed to the 160 character cap on SMS.

    With RCS, users can send longer video files and GIFs. They also get read receipts and can see when someone is in the process of typing a message to the. RCS to RCS messages also use blue text bubbles similar to iMessages and end-to-end encryption has been added. Right now, only one-to-one RCS messages can be encrypted which means that group RCS messages are not covered.

    Another new feature reportedly being worked on for Google’s Messages app is a birthday reminder that will alert you if the person you are having a conversation with is celebrating his or her birthday on this very day.
    It is important for Android users to know that the messaging and texting apps offered by carriers do not have RCS features. To have RCS on your Android phone, you must go to the Google Play Store and install the beta version of the Messages app from there.

    With the update beginning to roll out now, you might want to give a call to one of your iPhone-wielding friends and ask them to react to a message that you send them. If you see an emoji attached to that message, the update has reached your Android phone (assuming that you are using the Google Messages app in the first place). If not, you can reinstall the Google Messages app from the Play Store and check with your friend again to see whether the emoji appear when your buddy sends a reaction to a message that you’ve sent.

    Is the start of some sort of cooperation between Apple and Google that could lead to a universal iOS and Android messaging platform? Probably not. Apple relies on iMessage as a differentiator and there are some iPhone users who selected iOS over Android-primarily on the strength of its messaging system.

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  • Car imports surge

    Car imports surge

    The number of imported cars in Vietnam rose 61 percent to 129,733 units in the first 10 months this year.

    Passenger vehicles saw a rise of 50 percent to 90,029 units, according to Vietnam Customs.

    In October, the three major import markets were Thailand with 8,320 units, followed by Indonesia, 3,925, and China, 1,733.

    Over 11,700 cars with nine seats or less were imported to Vietnam last month, doubling from September.

    A media representative of a Japanese auto brand said the rise came as customs activities resumed after months of social distancing.

    Companies were also importing more vehicles to prepare for the end-of-year shopping season.

    Vietnam also imported $4.07 billion worth of car parts and equipment in the first 10 months, up 33.5 percent year-on-year.

    Sales of imported, completely-built units rose 24 percent year-on-year to 97,028 in the first 10 months, according to Vietnam Automobile Manufacturers Association (VAMA).

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  • 3 Mistakes You Can’t Make in Sports Betting

    3 Mistakes You Can’t Make in Sports Betting

    We have commented in our content about the importance of emotional control. While it sounds like a gambler’s cliché, this is an almost indisputable truth. Without the pillars of sports betting (bank management, discipline, and emotional control), it is practically impossible to succeed in 22Bet online betting.

    It is therefore essential to know how to deal with losses. It sounds bizarre, but the thought that you have to know how to lose to win is exceptionally true. And, in this context, the effects of the loss on the bettor are of great relevance.

    What are the effects of the injury?

    Making money from betting is not difficult in the short term, especially in a streak where everything works out. It’s not uncommon for beginners to start by leveraging their bankroll. The problem is to maintain this positivity for the long term. Sports betting has a variance, and no matter how safe your work method is, a wrong run time can come.

    And this is where a lot of people end up getting lost. After a streak of losses, many beginning gamblers resort to incorrect actions to recoup losses. The stake increase is the main resource and that, after all, only increases the chance of putting the bank even further into the hole.

    Another common mistake is investing in games without good opportunities, just because of the influence of the previous result. This is another one of the damage effects that can compromise your performance.

    3 Mistakes Related to Losses You Need to Stop Committing

    Therefore, within the psychological impacts, the damage is one of the great villains responsible for beginners’ losses. Of course, here we are not just talking about the loss of money itself, but what it can do to your psychological negative.

    Thinking about how to help you improve in this regard, today, we will mention three psychological errors related to the effects of the injury. If you commit any of them, don’t despair. The idea is precisely to identify these behaviors so that they do not compromise your results in the long term.

    Mistake #1 • Risking more than you can lose (high stake)

    First, you must have very assertive control over your stake. This is not just for setting the percentage but also for ensuring that this is a value you can afford to lose. A widespread mistake of beginning gamblers is to work with a relatively high stake, where the psychological impact of an eventual loss ends up being too great.

    Here, it is also worth including that loss situation where people double the stake to recover the loss. No one guarantees that the new bet will win, and if something goes wrong, the problem only gets worse. And, many times, the worst thing is just how your head will know that you used a value above what was correct.

    Therefore, know how to manage your stake according to your reality and values ​​that do not pressure your emotions. Tranquility is paramount to making suitable investments.

    Mistake #2 • Lack of confidence in input or strategy

    When we’re at a loss, it’s even natural for the head to start looking forward to the next game in an attempt to balance the balance. What usually happens at this time? Inputs are based purely on the emotional, without any confidence that the situation had value.

    Here, we have two problems about the effects of the injury. The first, of course, is that an unsecured entry has a high chance of going wrong. It usually comes from an impulse and a psychological desire to recover from a loss. And, going wrong again right affects your emotions (which is our second problem in this situation).

    In that sense, if you’re having a bad day, it’s worth taking a break and doing something else, at least until you feel that your emotions are back to normal and that you can make a correct decision about the new bet.

    Mistake #3 • Not knowing how to handle losses

    Finally, the third mistake reflects everything we’ve discussed so far: not knowing how to deal with losses. In sports betting, you will always be dealing with swings. It is, after all, a variable income market. You can’t always win, no matter how good you are.

    And, something ubiquitous among beginners is to despair in a negative streak. The gambler begins to question whether he is on the right path, whether what he is doing is correct, and even whether he can earn money from betting. Good strategies end up getting lost at this point.

    In this way, some of the above errors can also happen. Be careful not to get carried away by a bad run and always focus on the long term.

    How to avoid the effects of injury?

    There is no better way to deal with the effects of harm than by going through them. The human mind is very complex and practically impossible to master completely. What happens is that, with the passage of time and experiencing situations, you get used to it and don’t despair at every loss.

     

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  • Post Covid-19 Emerging Trends In India Retail Sector

    Post Covid-19 Emerging Trends In India Retail Sector

    With the pandemic fiercely constricting the traditional brick and mortar retail stores across the country, retailers now seek a new hybrid/omnichannel commerce. The “new normal” forced the entire sector to think out of the box and come up with innovative shopping strategies. In a way, Covid-19 brought about both opportunities along with threats.

    Digital transformation for the retail segment is no longer an optional measure; rather, it is a bare necessity to sustain among the e-commerce giants. Along with the operational transformation, these players also need to rethink their strategies to fine-tune their customer journeys on the online platforms.

    Large businesses were no strangers to changes in operations. They also underwent enhancing existing levels of digitized business models followed by the added Automation component in the daily process flows.

    Seeking The Digital Innovations In Retail

    As the economy passes precariously through the health turmoil, there is a growing realization that the hybrid structure is the future for the retail industry. This is aided by the complementary nature of both offline and online channels of business. Even small business owners are now adamant about establishing an online market presence via websites/apps.

    There is also the widespread adoption of digital payment mechanisms among local retailers to enable a smoother transactional experience for customers. Indian customers have accepted mobile wallets, QR code scanning and related e-payment possibilities with open arms. They can also leverage the same payment options to play in online casinos like Asiabet – where they can find the most trusted poker sites in India.

    Users can play poker with real money and grab a chance to win a bouquet of goodies, including freeroll tournaments, sign-up bonuses, and VIP rewards. From the famous Texas Hold’em, 3-Card poker to the local variants like Teen Patti, Asiabet has them all. With plenty of player traffic at all times coupled with all security and regulatory checks in place, they can play the best online poker in India on mobile.

    Digitization among the local retail players has also improved accessibility levels by raising consumer awareness on leveraging the possibilities of technology adoption. As a result, the average Indian consumer now desires a more personalized and curated experience from retail brands. They expect to be delighted at every stage of the sales process.

    Companies are now leveraging marketing and sales campaigns extensively via Social Media platforms like Facebook and Instagram. The weekly offers, introductory bonuses, to discount coupon codes are now a common sight provided as ads by local retailers. With analytics reports provided by these platforms along with third-party tools, companies now rely on data-driven insights to measure the efficacy of their digital marketing campaigns.

    The online shopping market has undergone an even steeper climb in the past year, fuelled by the pandemic and global lockdown situation. This has immensely contributed to the growth of India’s retail segment that makes up around 10% of the country’s GDP and 8% of employment. Digitization has thus necessitated the need for upskilling the existing workforce to improve productivity in the post-Covid era.

    In the Customer Experience segment as well, retailers are initiating innovative, technology-driven campaigns. Employees also need to be reskilled in new ways of engaging prospective customers so as to execute these campaigns. Candidates with proficiency in Artificial Intelligence/ Machine Learning (AI/ML) technologies are in hot demand due to this reason. Check out the guide to machine learning in retail to understand the ever-increasing prominence of AI/ML in the retail domain.

    Big Data management technologies are employed to collect data being captured in batches and in real-time. Using data visualization and business intelligence suites, the data scientists generate insights. Based on the insights obtained from the data analysis tools and methodologies, the IT departments of retail players can fine-tune their campaigns to create maximum impact among the target customer base. At the same time, on-field sales personnel are provided training in agile methodology to offer customized shopping experiences to end customers.

    Direct To Customer (D2C) business model is gaining significance as retail players realize the increasing need to connect with customers directly. This aspect is fuelled by the stiff competition among retails during the pandemic. Raising customer awareness of the brand and attracting their attention and e-commerce strategy is necessary to succeed in these testing times.

    Another emerging trend in recent times is the prevalence of self-service outlets to facilitate social distancing. The concept is termed BOPIS (Buy Online Purchase In-Store). Another similar method is the BOSS (Buy Online and Shipped To Store). Shop owners use Retail Beacons to collect customer data for demand forecasting and buying behavior. This will also help them in seasonal planning on inventories and procurement of goods from product vendors.

    Final Thoughts

    Customers are now getting used to consistently making purchases online instead of visiting the traditional brick-and-mortar alternative. The convenience of getting a wide variety of products under a single website or application is gaining wide appeal among the Indian customer segment.

    From an employee perspective, retails prefer those with niche skills in cutting-edge technologies like AI/ML as the retail market as a whole is now fuelled by data-driven decision-making more than ever before. Embracing the digital transformation strategy along with setting up a hybrid online and physical store is the game-changer in the foreseeable future. This will minimize the need for real estate and boost customer reach via social media, especially in Tier-2 and Tier-3 cities, where huge untapped revenue potential exists!

     

     

     

     

     

     

     

     

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  • Japanese beer brand Yebisu launches in Australia

    Japanese beer brand Yebisu launches in Australia

    Premium Japanese beer label Yebisu Premium Beer has been launched in Australia, through Coopers Brewery.

    Coopers will be the exclusive distributor of Yebisu under its partnership with Sapporo. The beer is now available in packs of four 350ml cans from First Choice Liquor stores and selected Liquorland and Vintage Cellars outlets nationally. It will join the shelves of independent retailers and on-premise locations from early next month.

    Founded in Tokyo in 1890, Yebisu (which is pronounced ‘Ebis’ in English), has drawn the praise of beer drinkers both domestically and internationally, with awards including the gold prize at the Paris Expo in 1900. It is brewed exclusively in Japan.

    Yebisu brand manager with Coopers Brewery, Chris Levey, said Japanese beer is proving popular with Australian consumers.

    Sapporo Premium Beer achieved double-digit volume growth in the year to August.

    “Yebisu is a symbol of Japan’s unwavering commitment to quality and craft, meeting the intersection of Australian drinkers’ desire for exploration and discovery and their attraction to true originals and authenticity,” he said.

    “We expect the introduction of Yebisu will drive further interest in the Japanese beer segment, appealing to a broad range of discerning beer drinkers seeking discovery, quality and authenticity, and a richer, more rewarding flavor experience.”

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  • French wine lovers wash away climate and Covid-19 worries with new Beaujolais

    French wine lovers wash away climate and Covid-19 worries with new Beaujolais

    French wine lovers washed away the misery of months of coronavirus social distancing and a wet summer that weighed on wine output, welcoming the new Beaujolais in bars across the country.

    Every autumn on the third Thursday of November, winegrowers from the Beaujolais region market the first bottles of the year’s harvest in the annual “Le Beaujolais Nouveau est arrivé” campaign that started in the 1960s.

    “If there is one day we can call a day of renaissance, after all the crises we have lived through, it is today,” said Le Mesturet owner Alain Fontaine as he served free glasses of Beaujolais on the sidewalk in front of his Paris restaurant.

    Parisians loved the free wine, even if Beaujolais – a light red wine that is just a few weeks or months old – struggles to overcome an image of being cheap plonk.

    “It’s a nice little wine. It’s not the biggest grand cru, obviously, but it is pleasant and not very expensive,” said Felix, an employee at the French national library.

    Wine growers were less upbeat as France is set to produce its lowest wine output since records began, after vineyards were hit by spring frost, hail and disease.

    The farm ministry has forecast total production a quarter below the average of the past five years with the Burgundy-Beaujolais region’s output among the worst hit, seen down by nearly half.

    “The year has been quite hard weather-wise and the grapes have required more manual work than usual, only for us to end up losing around 30% of the harvest. That’s too much work for such meagre results,” said Beaujolais Nouveau winemaker Julien Revillon in Villie-Morgon, north of Lyon.

    Revillon said that even though output has been disappointing, people are more than ever attached to the Beaujolais tradition, seeing it as an opportunity to get together with friends and colleagues after months of isolation.

    “In difficult periods, people hang onto traditions. Even during a war, we want to celebrate Christmas, even during a pandemic, we want to celebrate the Beaujolais Nouveau,” he said.

    Ninety-year-old Parisian Marie-Francoise, who initially found the new Beaujolais too tart, changed her mind after a second tasting.

    “It’s a good wine, a very good wine. There is no better Beaujolais!” she said.

  • Unilever sells 34 tea brands

    Unilever sells 34 tea brands

    Unilever has sold its global tea business – including T2 – to private equity company CVC Capital Partners, for €4.5 billion ($A7 billion)

    The business, called Ekaterra, owns 34 brands including Lipton, PG tips, Pukka, T2 and Tazo and turned over €2 billion ($A3.1 billion) last year. The company has 11 production factories on four continents and tea estates in three countries.

    “The evolution of our portfolio into higher-growth spaces is an important part of our growth strategy for Unilever,” said CEO Alan Jope of the reason for the divestment. “Our decision to sell Ekaterra demonstrates further progress in delivering against our plans.

    “We are proud of the place that our tea business has in our company’s history. We look forward to seeing Ekaterra, with its strong brands and global footprint, prosper under CVC’s ownership.”

    The sale is scheduled to be settled during the second half of next year and is subject to receipt of regulatory approvals. The deal excludes Unilever’s tea business in India, Nepal, and Indonesia, as well as its joint venture with Pepsi Lipton covering ready-to-drink teas, and any associated distribution business.

    Pev Hooper, a managing partner at CVC Capital Partners described Ekaterra as “a great business, built on strong foundations of leading brands and a purpose-driven approach to its products, people and communities”.

    “Ekaterra is well-positioned in an attractive market to accelerate its future growth, and to lead the category’s sustainable development. We look forward to working with the team to realise Ekaterra’s full potential,” said Hooper.

    Inside FMCG understands rival private-equity firms Advent and Carlyle unsuccessfully bid for the business.

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  • Miniso continues to post strong growth as Covid’s impact eases

    Miniso continues to post strong growth as Covid’s impact eases

    Chinese discount goods retailer Miniso has reported strong first-quarter sales and profit growth for the three months to September 30 as its store network continues to expand internationally.

    Sales surged 28.1 percent to US$411.9 million and adjusted net profit to $28.6 million, 80.3 percent higher year on year and 27 percent quarter on quarter.

    As of the end of September, Miniso operated 4871 stores, with a net addition of 122 stores during the quarter.

    “In spite of the headwinds from the resurgences of the pandemic, rainstorm disaster and weak consumption data in the domestic market in this quarter, we executed our strategies well and our domestic operations recorded an encouraging performance, while our overseas operations moved further along the path of recovery,” said founder, chairman and CEO Guofu Ye.

    Part of the growth rate has been attributed to the company’s development of new retail channels, including Top Toy stores, of which 39 opened during the quarter.

    While the bulk of the store network is in China (3035), the number of overseas stores grew to 1836.

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  • Bamboo Airways set to list its stocks

    Bamboo Airways set to list its stocks

    Bamboo Airways plans to list on the Unlisted Public Company Market next quarter while preparing for an IPO in the U.S.

    Prices of the ticker BAV will be at least VND60,000 ($2.65), CEO Nguyen Khac Hai said in a statement Friday.

    UPCoM serves as a market to encourage companies to go public. Vietnam’s two main bourses are the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange.

    The company targets to raise $200 million by issuing shares on the New York Stock Exchange, giving the startup airline a market cap of $4 billion.

    The airline plans to begin regular services to the U.S. city of San Francisco from HCMC by the end of this year, with five return flights a week initially and later daily.

    It has been operating charter flights to the U.S. since the end of September.

    The airline also announced plans to fly to the U.K. this year with six flights a week from Hanoi and HCMC to London.

  • Offshore wind power capacity to reach 36 GW by 2045

    Offshore wind power capacity to reach 36 GW by 2045

    Vietnam’s offshore wind power capacity will increase 36 GW by 2045, according to the latest draft of the Power Development Master Plan VIII.

    It will increase to 4 GW by 2030, 10 GW by 2035, 23 GW by 2040. Offshore wind power will account for some 2.6 percent of the total electricity generation capacity in 2030 and 10.8 percent in 2045. Offshore wind power farms will be located mainly in the north and the south of the country.

    In the previous draft of the plan, the Ministry of Industry and Trade had set a target of lifting offshore wind power capacity to 2-3 GW, or 1.5-2 percent of the total, by 2030.

    At a meeting held to discuss the latest draft Friday, Mathias Hollander, senior manager of the Global Wind Energy Council (GWEC), said Vietnam can have an offshore wind power capacity of 5-10 GW by 2030. The country’s offshore wind power generation has an efficiency of over 50 percent, similar to that of hydroelectricity, he noted.

    According to GWEC calculations, Vietnam will have to invest $10-12 billion for the first 4-5 GW of offshore power wind capacity, but the wind is an infinite source, so the country will not have to keep feeding wind power farms as it does with coal or gas-fired plants.

    Meanwhile, the unit cost for 1,000 kWh of electricity generated by an offshore wind power farm is around $83, down from $255 in 2010. It is expected to further drop to $58 by 2025.

    With a coastline of 3,260 km, low sea levels, and high wind speeds (7-10 meters per second at a height of 100 meters), Vietnam is an emerging offshore wind power magnet in Southeast Asia, experts say.

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  • Waymo, UPS Expand Autonomous Freight Truck Tie-Up Ahead Of Holidays

    Waymo, UPS Expand Autonomous Freight Truck Tie-Up Ahead Of Holidays

    Alphabet Inc’s Waymo said on Wednesday it is expanding its partnership with United Parcel Service Inc to move freight using autonomous trucks between two of the parcel delivery company’s Texas facilities during the holiday season.

    Waymo Via, the company’s delivery operation, began its partnership with UPS in early 2020 when it shuttled packages for the company between the Metro Phoenix area and its Tempe hub in Arizona using an autonomous minivan.

    The company said trial runs would start in the coming weeks, where big rigs equipped with its fifth-generation Waymo Driver technology will deliver for UPS’ North American Air Freight unit between facilities in Dallas-Fort Worth and Houston, Texas.

    Driver shortages have hit U.S. trucking and delivery companies, most notably FedEx Corp, as they race to hire workers for the crucial holiday season when package volumes can easily double. Waymo and UPS said the trials would help assess the impact of autonomous driving technology on safety and efficiency.

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