Retail News CRM

Author: Mei Ling Tan

  • Lazada to play key role in the next Great Singapore Sale

    Lazada to play key role in the next Great Singapore Sale

    The Great Singapore Sale (GSS) will take an omnichannel format this year, with Lazada as its official e-commerce platform – a move that its organizers said is timely as the country returns to stricter Covid-19 measures and shoppers are encouraged to stay home.

    The GSS will run from June 6 to July 7 and will showcase products across different categories such as groceries, technology, health and beauty, and sporting goods.

    According to the Singapore Retailers Association (SRA), small and medium-sized enterprises (SME) can benefit from Lazada’s technology infrastructure, payments gateway, and delivery solutions from its logistics partners, eliminating costly challenges retailers face when selling online.

    In addition, a new key feature will let shoppers will be able to pick up their purchases at the Lazada seller’s physical store, allowing retailers to utilize a “hybrid” model with both online and offline outlets.

    Each retailer will also have a dedicated account manager to help them navigate features such as live streams, games, and flash sales.

    SRA President, R Dhinakaran, said that as an incentive for trying out the platform, retailers do not have to pay commission for the first three months of using Lazada.

    “The attractive ‘0% commission’ offer for the first three months extended by Lazada for all new LazMall sellers is our way to incentivize retailers, especially SMEs, to go online and try out the Lazada e-commerce platform to generate sales, build on their brand awareness and learn new marketing tools, such as LazLive to engage shoppers online interactively,” said Dhinakaran.

    “The Great Singapore Sale is a national institution and sentimental for Singaporeans and those who remember flying into the country to enjoy the sales,” said James Chang, CEO at Lazada Singapore.

    “By supporting sellers with the tools they need to move their businesses online, we’re helping them be prepared for the future – both during the pandemic and beyond.”

    The 27-year-old shopping affair first went online last year as one of the main events in the Singapore Tourism Board’s SingapoRediscovers campaign. SRA’s eGSS GoSpree platform hosted the eGSS 2020, which combined retailers’ products and guided shoppers to the merchants’ e-commerce sites to make purchases.

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  • Tod’s unveils revamped Marina Bay Sands boutique

    Tod’s unveils revamped Marina Bay Sands boutique

    Italian fashion brand Tod’s has unveiled the new look of its boutique at The Shoppes at Marina Bay Sands, Singapore.

    Spanning about 135sqm, the Tod’s Marina Bay Sands follows the brand’s store concept with signature elements that can be found in other stores, such as silver and taupe saddle-stitched leather paneled steel vitrines and marble.

    “The boutique is linear, modern, and in line with the brand’s image worldwide,” the company said in a statement.

    Floor-to-ceiling glass doors at the entrance allow Tod’s to display its latest products with different setups. The storehouses a full selection of Tod’s bags, shoes, and accessories, including its Full Summer Collection which will be sold exclusively at the Marina Bay Sands outlet.

    Founded in 1920, Tod’s operates more than 200 stores, including large flagship stores in Europe, the US, China, Japan, Malaysia, Singapore, Hong Kong, Indonesia, and Australia.

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  • Central Retail sales rebound to 90 per cent of pre-Covid levels

    Central Retail sales rebound to 90 per cent of pre-Covid levels

    Thai group Central Retail says it achieved 90 percent of its pre-Covid sales performance in the March quarter, the result of what CEO Yol Phokasub described as “thriving on steadily regaining balance” during a time of challenges and uncertainties”.

    First-quarter sales were down 9.7 percent to US$1.56 billion, however, net profit was down 48.4 percent to $14.65 million.

    In a statement, the company said that considering the semi-lockdown situation resulting from the second and third waves of the pandemic – when most businesses stopped trading – the impact on the retail market was more severe than the previous year.

    Phokasub said the company was able to take advantage of a broad portfolio of retail brands which enabled business agility during the Covid crisis, including synergy between the Central and Robinson department stores. It also benefited from the expansion of the Tops Market both within Thailand and in Vietnam, its Go! Malls concept in Vietnam and the recent acquisition of the B2B omnichannel books and stationery business.

    He said that during the year ahead Central Retail plans to increase work efficiency and productivity through technological development and strong cash flow while looking for new business ventures to diversify its portfolio.

    “Central Retail’s long-term vision and business plan before the Covid-19 pandemic remain unchanged, and that is to achieve sustainable and profitable growth.”

  • Twitter DM search feature expands from iOS to Android after almost two years

    Twitter DM search feature expands from iOS to Android after almost two years

    Given Twitter’s massive global popularity (yes, even after Donald Trump’s permanent suspension), you might expect the social networking service to at least support the same basic features as the competition if not offer something extra.

    But as if still not allowing users to edit their tweets after they’re published was not bad enough, Twitter also lacked a DM search functionality on Android until today. While that may not sound like such a big deal, it’s easy to understand if some of you were frustrated at having to wait nearly two years (!!!) for the iOS and web-exclusive feature to spread its wings.

    What’s happening at long last, according to a hot new Twitter Support announcement, and perhaps more importantly, the DM search option is set to expand to actual message content at some point “later this year.”

    That means you can only search your direct messages using the name of a person you remember having a private conversation with at the moment rather than the topic or certain words from said conversations.

    In other words, the feature is still nowhere near as convenient as its Facebook Messenger or WhatsApp counterpart (on either Android or iOS), but at least we know Twitter is working on making it better… a whopping 21 months after initially rolling it out to select mobile and desktop users.

    Naturally, it might take a little while for Android users around the world to see the DM search bar enabled on their handsets, but once that happens, we expect everything to be as simple and as hassle-free as the iPhone process demonstrated above.

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  • Disney+ blows past 100 million subscriber milestone even as its growth starts to slow down

    Disney+ blows past 100 million subscriber milestone even as its growth starts to slow down

    As heated as the battle for global supremacy in the crowded video streaming space may have seemed just a couple of years ago, it has become increasingly clear in recent months that the market is largely headed for a duopoly.

    That’s because the likes of Apple TV+, HBO Max, and Peacock are not really going anywhere while Disney+ is practically going everywhere, growing at a Netflix-threatening pace quarter after quarter.

    As expected at the end of last year, the late 2019-released streaming service has concluded the first quarter of 2021 well above the 100 million subscriber mark. Namely, Disney Plus counted a grand total of 103.6 million users around the world as of April 3, up from “just” 94.9 million subscribers on January 2, 2021.

    That’s a huge number for the ever-expanding Walt Disney Company no matter how you look at it, inching closer to Netflix’s industry-leading 208 million paid subscriber base last updated in April for Q1 2021.

    While the gap between the two streaming giants may seem substantial (because it is), Disney+ has impressively managed to eat away at the global champ’s advantage ever since it made its debut back in November 2019. This year’s first quarter is no exception, although for the first time since the beginning of the COVID-19 pandemic, both Netflix and Disney+ failed to meet the expectations of industry pundits.

    Following 29 and 28 percent surges in worldwide subscribers in Q3 and Q4 2020 compared to their previous quarters, Disney+ had to settle for the aforementioned 8.7 million sequential growth, equating to less than 10 percent, which was still more than enough to outpace Netflix’s modest 4 million or so gain during Q1 2021.

    If current projections hold up, Disney+ could reach anywhere between 230 and 260 million paid global subscribers by the end of 2024, which is when the streaming platform’s parent company originally expected the service to sit at no more than 90 million users.

    In comparison (although it’s obviously not a very fair one), Netflix broke the 100 million barrier at some point in 2017 after being founded in 1997 and branching out from the DVD sales and rental business to the online world in 2007.

    Meanwhile, in case you’re wondering, mum’s the word on the paying subscriber figures of Apple TV+, which pretty much tells you everything you need to know about the much-hyped platform that essentially saw daylight at the same time as Disney+.

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  • Cebu Pacific’s US$250 Million convertible Bonds Private Placement

    Cebu Pacific’s US$250 Million convertible Bonds Private Placement

    Clifford Chance has advised the investors involved in the placement. International Finance Corporation, IFC Emerging Asia Fund, LP and Indigo Philippines LLC, an affiliate of private equity firm Indigo Partners LLC, were the investors inolved in the private placement of US$250 million convertible bonds due 2027 by low-cost carrier Cebu Air, Inc. (Cebu Pacific) listed on the Philippines Stock Exchange. The bonds are convertible into common shares of Cebu Pacific. The shares issued as a result of the conversion of the convertible bonds will be listed on the Philippines Stock Exchange.

    The private placement was part of a broader business transformation exercise that was launched by Cebu Pacific in response to the Covid-19 pandemic. The proceeds will be used to fund working capital requirements, repayment of debt and lease obligations, and critical capital expenditures of Cebu Pacific and its subsidiaries.

    The project involved a cross-border team of Clifford Chance experts in international corporate, debt, and capital markets transactions, led by partners Johannes Juette (Picture – Singapore), Virginia Lee (Hong Kong) and Gareth Deiner (Singapore), senior associates Claire Neo (Singapore) and Ryan Wong (Hong Kong) and associate Anson Wong (Hong Kong), with specialist advice provided by partner Fergus Evans (Singapore) and senior associate Nattawat Vilasdechanon (Singapore) for their expertise in aircraft financing.

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  • Honda PCX Electric Scooter Patented In India

    Honda PCX Electric Scooter Patented In India

    Honda has filed patent registrations for the PCX electric scooter in India, and rumors are abuzz about the possibility of the PCX electric scooter being considered for an India launch. Now, Honda did showcase the PCX electric scooter at the Auto Expo 2018, but filing a patent doesn’t necessarily mean the product is being considered for launch. What is of importance is perhaps the content of the patent filings, which shows a removable battery, which can be taken off the scooter and plugged conveniently at home, or at the workplace.

    The scooter comes with a 4.2 kW motor and a removable 50.4 V lithium-ion battery pack. And the battery can be charged without removing it as well, through a charging cable, but being removable just offers the added convenience. The Honda PCX offered in global markets, come with an internal combustion engine hybrid, as well as full-electric powertrains. In India though, reports suggest that the PCX electric is the one being patented.

    The PCX has an aggressive design, with neat lines, with twin-pod headlamps up front, and a tall windscreen, giving it a mini-maxi look. The scooter comes with a split floorboard, black alloy wheels, telescopic front forks, twin rear shocks, and disc brakes, with single-channel ABS. On the feature list, there’s a full digital LCD panel, remote start key, and others. Under the seat are twin battery packs, which offer a range of 40 km, while the controller unit is positioned under the floorboard.

    While the filing of the patent for the PCX electric may sound like exciting news, it’s not certain that Honda will go on to launch it. In the past, HMSI has patented several models, including the Honda Grom and others, and according to sources, sometimes these patents are used for Honda’s ongoing R&D efforts for future products in India, rather than indicate that the patented product will be launched in India. It’s early days yet to predict anything, or if HMSI is indeed working on an electric project, or planning to start working on an electric two-wheeler project for India. And that may not be the PCX electric scooter as we know it in its current form.

  • Porsche Expands Customisation Project Division For One-Off Model Requests

    Porsche Expands Customisation Project Division For One-Off Model Requests

    It’s not the first time we are seeing Porsche offering customization options and it’s also a common trend among premium car buyers. But now Porsche is expanding its Exclusive Manufaktur program along with the Tequipment and Classic divisions. Now this will give the chance to its customers who want to make their Porsches exclusive and one-off. This service will be offered across range and not just for sports cars or SUVs or any specific model. And there is something for classic Porsches as well, but we’ll come to it in a bit.

    Porsche has extended the range of products and services in the divisions in a way that customers can modify their vehicles to bespoke one-off units. This is an interpretation of the Sonderwunsch program, which literally translates to “special request,” Porsche’s customization from the 1970s. To be precise, it is offering exterior wrap options, individual starting numbers, prints on the floor mats, illuminated door entry guards, and logo projectors in the vehicle doors among others. The unique part about this program is that the option is not limited to just new models. Yes! The personalization also extends to used vehicles and also on the table is customizations for off-road use.

    The Tequipment division in Porsche’s gallery also offers a range of accessories and retrofit options for individual customer vehicles. Now coming to classic vehicles, Porsche is currently focusing on spare parts supply and factory restorations in a bid to keep them in working condition. Now obviously, handling projects which are too radical are best for aftermarket, but the carmaker will be accepting all those projects that it finds sensible and feasible. Also, Porsche will archive every one-off request and keep them in the database.

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  • Australians open to subscription services, Deliveroo study finds

    Australians open to subscription services, Deliveroo study finds

    Australia has experienced an unprecedented rise in demand for subscription services across the country, according to research by food-delivery company Deliveroo.

    The study found that 62 percent of Australians are currently using more than six subscription services. The most popular type of subscription service is TV streaming services, followed by food subscriptions.

    Growth of subscription services mostly resulted from customers’ need for convenience, variety, and cost savings, the survey concluded.

    To keep up with the trend, Deliveroo has launched its own subscription service ‘Plus’, offering Aussies access to unlimited deliveries for a monthly fee. The launch follows the trial of the service in 2019 where more than 45,000 customers signed up in the first month.

    “This is primarily aimed at supporting families and couples who are ordering larger baskets as a group,” the company said in a statement. “Deliveroo has seen a surge in people ordering for multiple numbers and wants to make delivery more affordable and accessible for them.”

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  • Nestle buys Nuun as it continues to boost its nutritional portfolio

    Nestle buys Nuun as it continues to boost its nutritional portfolio

    Nestle’s Health Science division has bought US nutritional products maker Nuun as it continues to build its portfolio of health and nutrition products.

    Founded in Washington, Seattle in 2004, Nuun is considered a pioneer in the separation of electrolyte replacement from carbohydrates. Its core product is a low-sugar electrolyte tablet for the sports beverage market and its portfolio has expanded into a range of effervescent tablets and powders containing additional minerals and vitamins for energy, relaxation and overall well-being.

    Nuun is the top-selling sports drink supplement brand in running, cycling, outdoor and natural foods stores in the US.

    This is Nestle Health Science’s second such acquisition in less than a month, following the significantly larger-scale purchase of The Bountiful Company’s core brands including Nature’s Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride. With more than 7000 employees worldwide, Nestle Health Science is a global business unit of Nestle with products distributed in more than 140 countries.

    Nestle Health Science CEO Greg Baher described Nuun as a leader in the fast-growing functional hydration category with quality, clean, plant-based products.

    “Everyday, health-conscious consumers are becoming more aware of how functional hydration products can add to their overall well being as well as support them during exercise by replacing the minerals that the body loses. That growing awareness is reflected in the steady growth of the category,” he said.

    Nuun CEO Kevin Rutherford said his company and Nestle shared the philosophy that nothing is more important than health and well-being.

    “In joining Nestle Health Science, Nuun will further its mission of ‘hydration that empowers the world to move more.’ The Nuun team has built an incredible business and now with the reach, expertise and capabilities of Nestle, I’m confident that together we will grow even more.”

    Terms of the deal were not disclosed, and the sale will be settled in the third quarter of this year, shortly after the Bountiful Company’s deal.

  • Xiaomi Wins Ban Reversal

    Xiaomi Wins Ban Reversal

    Xiaomi and the U.S. government have come to an agreement to remove the Chinese smartphone giant from a blacklist of military-linked companies.

    The U.S. Defense Department agreed in a final order to remove the «Communist Chinese Military Company» designation for Xiaomi, according to a court filing.

    The Parties have agreed upon a path forward that would resolve this litigation without the need for contested briefing, according to the filing.

    Negotiations over specific terms are underway and a separate joint proposal will be filed before May 20.

    Earlier this year, Xiaomi sued the U.S. government over the bans, calling the designations «factually incorrect» with no evidence to back the claims.

    In March, U.S. District Judge Rudolph Contreras said Xiaomi was likely to win a reversal to declare the designation as illegal and issued a ban halt to prevent irreparable harm at the smartphone firm.

    Still, the U.S. government said it remained concerned about investments into military-linked firms in China.

    The Biden Administration is deeply concerned about potential U.S. investments in companies linked to the Chinese military and fully committed to keeping up the pressure on such companies, said White House National Security Council spokesperson Emily Horne.

    Xiaomi’s removal from the blacklist occurs less than one week after the Biden administration was reportedly maintaining pressure on China by preserving some restrictions issued by the Donald Trump administration with preliminary discussions underway about military-linked bans.

  • DBS Launches Crypto Trust Offering

    DBS Launches Crypto Trust Offering

    DBS enlarges its cryptocurrency offering with a trust solution from its private banking arm amid growing demand for the asset class even within wealth succession plans.

    DBS Private Bank launches its cryptocurrency trust solution via wholly-owned DBS Trustee, according to a statement.

    The new trust offering is limited to cryptocurrencies currently supported by the bank’s digital asset exchange – DBS Digital Exchange (DDEX) – which includes Bitcoin, Ether, Bitcoin Cash and XRP.

    According to the bank, the solution will ensure that critical information like access instructions or wallet backups will be kept confidential when passing on wealth in succession plans due to the additional protection afforded to trusts and their exclusion from the probate process.

    Confidentiality, peace of mind and taxation often emerge as top-of-mind concerns in our conversations with clients, and we would advise them to set up trust structures rather than wills, which are subject to the probate process, said DBS Private Bank’s regional head of family office, wealth planning and insurance solutions Lee Woon Shiu.

    This is especially so considering that international regulations and protocols are still nascent in the digital asset space, which could give rise to complications or unnecessary confusion if proper measures are not in place to prevent them.

    DBS expands its crypto offering amid growing demand for the digital asset class with DDEX registering S$80 million ($59.9 million) in assets under custody and a 10-fold increase of trading volumes since launch to S$30-40 million.

    The exchange currently has 120 clients with more awaiting onboarding.

    In recent years, more clients have expressed interest or are already invested in digital assets, and we expect this trend to accelerate as cryptocurrencies turn more mainstream, said group head of DBS Private Bank Joseph Poon. Our trust structure allows clients to conveniently hold these assets, with a peace of mind that they will be safely managed and passed on to their intended beneficiaries.

  • Hong Kong Hub Status Under Fire

    Hong Kong Hub Status Under Fire

    Doubts about Hong Kong’s ability to retain its status as a global hub have been spotlighted in the past weeks by multiple entities – including the local government – citing various issues ranging from politics to the pandemic.

    Doubts about staying are increasing for numerous international companies and expatriates residing in Hong Kong, according to various sources including a Canadian envoy, a survey from an American business group and even the head of the Hong Kong Monetary Authority.

    Various issues were cited as drivers including Beijing’s national security law (NSL) as well as the local government’s management of the coronavirus pandemic.

    Earlier this week, Canada’s consul general in Hong Kong and Macau Jeff Nankivell said that the effects of the NSL led some Canadian firms to review contingency plans and study options for data transfer in the event of a Hong Kong withdrawal.

    He cited issues such as the revamp of the city’s electoral system and reduced post-NSL communication with a noticeable number of political parties and non-governmental organizations.

    Several days later, the American Chamber of Commerce in Hong Kong (AmCham) released a survey that said 42 percent of expats were considering an exit with NSL named as the top driver as cited by 62 percent of respondents.

    Other reasons cited include the effects of travel from Hong Kong’s quarantine policies (49 percent) and the impact of Beijing’s legislation on education (36 percent).

    «Based on the survey results, AmCham strongly suggests that the government pay close heed to the sentiment of expatriates in Hong Kong and work towards allaying major concerns through stronger understanding of Hong Kong’s international talent, lest the city lose competitiveness versus other business hubs,» the U.S. business group said.

    In a rare showing of doubt, even local government officials expressed worries about business plans to relocate to another hub, albeit for non-political reasons.

    In early May, HKMA chief executive Eddie Yue said Hong Kong risked diminishing attractiveness as a financial center due to potential exclusion from travel bubbles over its relatively low vaccination rate – around 14.8 percent of the city’s population of 7.5 million have received their first dose, according to data compiled by Oxford University.

    If you were a regional executive sitting in Hong Kong running the regional business in Hong Kong, without being able to fly around in Asia or fly back to your headquarters for reporting, will you think I should remain in Hong Kong, or should I move to another center? Yue said.

    Separately, government officials elsewhere expressed contrasted confidence in Hong Kong’s retention of international companies.

    In response to the AmCham survey, Commerce Secretary Edward Yau refuted concerns about Hong Kong’s attractiveness for foreign firms to do business, highlighting opportunities linked to the Greater Bay Area and the Belt and Road intuitive.

    Different business entities would have different reasons to stay or otherwise, but I think figures also speak for themselves, Yau said in a published transcript, citing a government survey that said the number of foreign firms remained steady at around 9,000. «Of course, there is no ground for complacency. We believe that business decisions would best be made by people who actually stay and operate in Hong Kong.»

  • UOB’s Chan Kok Seong on Risk Culture and Hybrid Work

    UOB’s Chan Kok Seong on Risk Culture and Hybrid Work

    The protracted COVID-19 pandemic is no longer just a disruption to the way we work but has transformed permanently the world of work, Chan Kok Seong, UOB’s group chief risk officer, says in an interview.

    The future of work is shaping into a hybrid model that optimizes employee flexibility, autonomy and performance across locations. While much attention has been focused on enabling virtual teams through technology, it is important to balance the risks of remote working with productivity and agility.

    A paper recently released by the Monetary Authority of Singapore and the Association of Banks in Singapore identified two key categories of risks for financial institutions: operational risks and people and culture risks, which all companies across sectors should note as they digitalize their businesses.

    How might companies better manage these emerging risks as they grapple with the embrace of remote working in the digital age

    Organizations will need to confront the technological, operational, legal and compliance risks which arise from a hybrid work model. A change in an organization’s control environment – such as when the majority of its employees perform their roles remotely – can introduce additional information security threat factors.

    For example, virtual workplaces include can be at risk of increased cyberattacks on an external network, potential leakage or misuse of confidential information, identity theft and employees circumventing work processes and controls against compliance guidelines.

    In a virtual work setting, enabling employees’ remote access to internal systems is a requisite. Companies must find a balanced and measured approach to cybersecurity safeguards that works for their operations and which do not compromise their risk controls or business productivity and agility.

  • Cebu Pacific airlifts more COVID vaccines

    Cebu Pacific airlifts more COVID vaccines

    The Philippines’ leading carrier Cebu Pacific safely delivered some 1.5 million doses of vaccines against coronavirus disease 2019 (COVID-19) in coordination with the Department of Health (DOH).

    The China-made doses recently arrived at the Ninoy Aquino International Airport (NAIA) via 5J 671.

    CEB is in full support of the nation’s vaccination program as it helps ensure these life-saving COVID-19 vaccines are flown safely to the Philippines, and distributed across the rest of the archipelago.

    “This large shipment of COVID vaccines with Cebu Pacific brings us closer to our goal of protecting every Filipino as fast as possible,” said Sec. Carlito Galvez, Jr., chief implementer of the National Task Force against COVID-19. “We are grateful to Cebu Pacific for joining forces with the government to support us in ensuring the success of this vaccine roll-out.”

    “We are thankful for the continued trust of the Philippine government and the DOH, and restate our intention to support our country’s fight against COVID-19 in any way we can. We look forward to picking up more vaccines from across the globe and aid in distributing across our widest domestic network,” Alexander Lao, Cebu Pacific Chief Strategy Officer.

    Upon unloading from CEB’s A330 aircraft, all vaccines were thoroughly inspected by the authorities prior to uplifting to refrigerated trucks via electric forklifts.

    On May 4, Cebu Pacific transported 6,200 COVID-19 vaccines from Manila to Puerto Princesa. Apart from Palawan, the carrier has delivered more than half a million doses of vaccines to six other cities in the country namely Bacolod, Cotabato, Legazpi, Tacloban, Tuguegarao, and Zamboanga.

    Following last week’s shipment of 500,000 Sinovac vaccines from Beijing to Manila, CEB has already transported more than 2.5 million COVID-19 doses since March 2021.

    CEB operates the widest domestic network in the Philippines covering 32 destinations, on top of its six international destinations. Its 74-strong fleet, one of the youngest in the world, includes two dedicated ATR freighters and one A330 freighter.

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