Retail News CRM

Category: E-Tailing

Retail News Asia is committed to providing both local and global retailers with the latest E-Commerce & Etail news throughout the Asian market. This on a daily base.

  • JD Sports to quit South Korean after five years

    JD Sports to quit South Korean after five years

    UK activewear label JD Sports is set to withdraw from South Korea after five years of operation, according to Edaily.

    The retailer was reported to have experienced a deepening deficit since the Covid-19 pandemic, which led to the decision. The source said JD Sports Korea had notified all employees of the exit plan.

    JD Sports entered South Korea in 2017 through a joint venture deal with South Korean footwear company Shoemarker. The first JD Sports store was opened in April 2018. Currently, the company operates 14 directly managed stores nationwide, including at Lotte World Tower in Jamsil, Seoul and Starfield Goyang.

    Meanwhile, the UK retailer has recently been the target of a cyber attack that resulted in unauthorised access to a system containing customer data relating to online orders between November 2018 and October 2020. The affected JD Sports group brands are JD, Size?, Millets, Blacks, Scotts and MilletSport.

    Earlier this year, British retailer Frasers Group bought shares in JD Sports for about US$57.7 million, as the Mike Ashley-owned company continues its drive into a more premium market.

    Lees ook:

  • Shopee to shut its Poland operations today

    Shopee to shut its Poland operations today

    Southeast Asia’s largest e-commerce firm Shopee will close its Polish operations from the end of Friday, Shopee Polska announced on its website on Thursday.

    “The fact itself is perhaps not a big surprise, since Shopee has already withdrawn from some of its markets, and a few months ago it cut some of its jobs in Poland, so the expectations were rather that they will leave the Polish market as well”, said Wood&Co analyst Lukasz Wachelko.

    Shopee has been operating in Poland since the autumn of 2021.

    Lees ook:

  • Alibaba plans $1 billion investment in Turkey

    Alibaba plans $1 billion investment in Turkey

    Chinese e-commerce giant Alibaba Group Holding Ltd is planning a logistics hub at Istanbul Airport and a data centre near the Turkish capital Ankara with an investment of more than $1 billion, its president, Michael Evans, was cited as saying.

    Turkey’s Sabah newspaper reported Evans as saying in an interview that the company was looking to invest in Europe and the Middle East and that he sees Turkey as a very strong production base.

    “We have a serious investment plan at Istanbul Airport. We can evaluate e-export plans from here to Europe, the Middle East and the Far East. We plan an investment of more than $1 billion,” Evans was quoted as saying.

    Trendyol, one of Turkey’s best known e-commerce platforms, is backed by Alibaba.

    “The reason we chose Trendyol was that its technology was advanced and its potential was great. We are positioning this place as a base for Europe and the Middle East,” he said.

    Lees ook:

    Lees ook:

  • Amazon CEO says job cuts to exceed 18,000 roles

    Amazon CEO says job cuts to exceed 18,000 roles

    Amazon.com’s layoffs will now stretch to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday.

    The layoff decisions, which Amazon will communicate starting January 18, will largely impact the company’s e-commerce and human-resources organizations, he said.

    The cuts amount to 6 per cent of Amazon’s roughly 300,000-person corporate workforce and represent a swift turn for a retailer that recently doubled its base pay ceiling to compete more aggressively for talent.

    Jassy said in the note that annual planning “has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years.”

    Amazon has more than 1.5 million workers including warehouse staff, making it America’s second-largest private employer after Walmart it has braced for likely slower growth as soaring inflation encouraged businesses and consumers to cut back spending and its share price has halved in the past year.

    It began letting staff go in November from its devices division, with a source telling Reuters at the time it was targeting 10,000 job cuts.

    In number, its layoffs now surpass the 11,000 job cuts at Facebook-parent Meta Platforms Inc as well as reductions at other tech-industry peers.

    Lees ook:

    Lees ook:

  • Amazon taxes 10 million products in Vietnam

    Amazon taxes 10 million products in Vietnam

    Vietnamese vendors have sold nearly 10 million products on Amazon this year, totaling an export value over 45% more than 2021, according to a report by the American e-commerce giant.

    During the pandemic, there were “thousands” of Vietnamese vendors on Amazon, and their top-selling products were in the categories of kitchen ware, home appliances, garment and textile and healthcare.

    Several Vietnamese brands such as AnEco (maker of compostable garbage bags), Lafooco (cashew exporter), Sunhouse (home appliances manufacturer) and HMG (3D card manufacturer) have been hailed by Amazon for succeeding in their e-commerce initiatives and creating jobs for locals.

    Nguyen Le Thang Long, deputy director of An Phat, which makes AnEco products, said that sales through Amazon have surged nearly five times from 2021.

    Phung Minh Thuy, founder of HMG, said that her company receives hundreds of orders through Amazon each day.

    Vietnam ranks fifth among the top 10 markets globally in terms of e-commerce and retail sales growth at 19%, behind the Philippines, India, Indonesia and Brazil, according to market research firm eMarketer.

    Vietnam’s e-commerce exports revenue is set to rise 20% annually between 2021 and 2026, according to consultancy firm AlphaBeta.

    With a strong national policy to support exports, abundant production capacity, and rapid development of e-commerce, Vietnam is at a golden stage for online exports to take off, said Gijae Seong, managing director of Amazon Global Selling Vietnam.

    Lees ook:

  • Societal Benefits of Online Casino Gaming

    Societal Benefits of Online Casino Gaming

    Most people assume that online casino gaming is all about having fun and playing; however, the community has diverse benefits. The idea that casinos are only based in urban areas is entirely incorrect. The introduction of internet technology in online casinos significantly changed the casino gaming industry as there was an increase in the popularity of the industry, which led to legalization in many countries. A high number of people now understand the profitability of the business.

    These developments are the reason behind the nonstop competition. New and old casinos are now incorporating the latest trends in the industry to accommodate the latest features in the industry. Therefore, for online casinos to keep up with the changes, they must keep upgrading their systems by adding recent games, graphics, and sound effects. You are probably wondering, what are the benefits of graphics and sound in a casino gaming site? Well, when casinos have a great site interface, the higher the chances of players interacting with the site are.

    Gamers enjoy different games in a casino, including the judi slot online. To increase the interaction of the different provided games, a casino has to enhance its graphics and logo, among other aspects of the website. Now, let us walk through the societal benefits of online casino gaming.

    Increased employment rate

    Anytime a business grows, it translates to an increase in job opportunities to help attend to the customers’ demands. More workforce is required to help offer guidance and solutions to people whenever a need arises. Some critical employment sectors in any casino include customer service, website developers, and technological experts. All this enables a casino to operate smoothly without inconveniencing the clients.

    An increase in the country of operation tax revenue

    Regardless of the mode of operation, either online or land-based, casinos have to remit the tax to the government in every country of operation. In addition, for the business to be legalized, it has to go through all the provided business processes, which are mostly paid for upfront. Therefore, the next time you enjoy situs judi slot gacor, know that you are contributing to tax revenue in your country.

    The rise in economic activities

    Anytime there is an increase in job opportunities, it translates to an increase in people’s living standards. When citizens of any country have improved living standards, they can afford their basic day-to-day needs. In addition, crime rates are reduced as people are busy and have a source of income.

    In conclusion, there are great benefits from online casino gaming to society. The collection of taxes from the casinos helps support a country’s operations. Casinos have now secured their system of operations for people who are usually concerned about their security. When gaming, it is important to ensure you have a budget to avoid losing all your money. The most important thing is to have a working strategy to help you hit that jackpot.

     

    Lees ook:

    Lees ook:

  • Vietnamese firm sues Amazon for $280M

    Vietnamese firm sues Amazon for $280M

    Vietnamese company Gilimex Inc. is suing e-commerce giant Amazon for $280 million for allegedly cutting back on orders, leaving it with an excess inventory.

    Gilimex, a manufacturer of textile and other products based in Ho Chi Minh City, said in a filling in a New York state court on Monday that it has been partnering with Amazon from 2014 to 2022 and has invested tens of millions of dollars in manufacturing facilities to build the steel-and-cloth storage pods used to organize inventory in Amazon warehouses.

    Gilimex said the partnership was built on “trust,” with Gilimex relying on the accuracy of Amazon forecasts to make adequate investments to meet demand, including procuring materials and arranging factory capacity and manpower to meet the American company’s needs.

    But beginning in April, Amazon “immediately changed and reduced the projected demand” for the remainder of 2022 and 2023 to a small fraction of previous forecasts, according to the lawsuit.

    “Thus, while Amazon enjoyed unprecedented increases in revenue during the pandemic due in large part to the explosion of online ordering by consumers from the safety and comfort of their homes,” said the legal complaint, “Gilimex management and laborers literally risked their lives on a daily basis to make such record growth a reality.”

    The Vietnamese company said it employs 7,000 employees in multiple factories to produce more than 1 million warehouse storage units annually, adding that production for Amazon increased 20-fold during the eight-year relationship.

    Gilimex was established in 1982. Its main products include fabric storage organization, home textiles, laundry baskets, duffel bags, backpacks, and outdoor textile products.

    Around 85% of Gilimex’s export revenue has come from Amazon, which ordered $146.6 million worth of products from the company last year, according to Mirae Asset Vietnam Research.

    Gilimex earned a record revenue of VND4 trillion ($170.03 million) last year, up nearly 16% from 2020.

  • E-commerce giant Carousell lays off 110 staff

    E-commerce giant Carousell lays off 110 staff

    Carousell, a Singaporean consumer-to-consumer (C2C) service platform operating across Southeast Asia, is letting go of about 110 employees, or 10% of its total headcount, to reduce costs amid a challenging market condition for the tech industry. 

    The announcement came from the company’s blog on Thursday, posted by co-founder and CEO of Carousell Siu Rui Quek, saying, “I take responsibility for the decisions that have led us here. Parting with teammates, whom we are grateful to for joining us on this mission, is a very difficult decision.” 

    Carousell did not specify which business units or regional offices would be affected by the layoffs. The Singapore-headquartered company operates in Malaysia, Indonesia, the Philippines, Cambodia, Taiwan, Hong Kong, Macau, Australia, New Zealand, and Canada. 

    In the statement, the company’s leaders had discussed finding ways, including moving to an inexpensive rental office and slashing co-founders and executives’ salaries voluntarily to save budgets without cutting staff. But that was “far from enough,” it said.  

    Quek also explained in the blog post that he “was too optimistic” about the recovery from the COVID pandemic and even doubled down on recruitment and investment for its business. “The reality is that we were quick to grow our expenses and hire, but the returns took longer than expected,” Quek wrote. “It is important to act swiftly, course correct, and right-size our investment levels to better align with this new reality.” 

    The affected workers will receive at least three months’ salary and be able to extend their medical benefits and insurance coverage through June next year. According to the statement, the company will also pay out all remaining time off balances and offer career counseling and job search support, letting those laid-off workers keep their office laptop and LinkedIn Learning membership until June 2023. 

    Founded in 2012, Carousell, backed by Sequoia Capital India, Naver, 500 Global and Rakuten Capital, has raised a total of $372.6 million since its inception.

  • Boohoo enters India through Myntra partnership

    Boohoo enters India through Myntra partnership

    Trendsetting UK-based iconic fashion house, Boohoo Group, has marked its foray into the Indian market with Myntra. Boohoo, Dorothy Perkins (DP) and Nasty Gal will offer over 1500 on-trend and fresh styles across categories like dresses, tops, bottoms, and footwear, as a part of the much anticipated launch.

    “We are thrilled to be partnering with Myntra as our strategic partner in India. The Indian market represents a fantastic opportunity for the Boohoo Group and Myntra’s digital first approach makes this a great strategic partnership.”

    Right in time to kick off the party season, the association will witness Boohoo and Nasty Gal cater to fashion-forward Indian consumers for the first time, following the brand’s acquisition by the Boohoo Group. DP offers versatile, feminine, and elegant fashion for every woman, while Nasty Gal offers trendy, distinct, and edgy looks with inspiration from vintage as well as runway trends. boohoo focuses on striking yet easy styles for everyday fashion consumers to confidently own their narrative.

    Ahead of Myntra’s flagship End of Reason Sale, the collection from the Boohoo Group will consist of looks inspired by global trends like funky animal prints, classy florals, subtle shimmer, and dramatic glitter, across segments like dresses, tops, bottoms, and sweatshirts, among others. DP and boohoo also have a strong offering across footwear that include heels, casual shoes, platform heels and espadrilles among others. Catering to fashion forward women across ages, the brands offer products at attractive prices across boohoo, DP and Nasty Gal.

    As a seasoned leader in fashion, boohoo’s vision is to empower a global social generation to look and feel confident everyday, across occasions. boohoo supplies fashion to more than 100 countries, including major markets like the USA, UK, France, and Australia. Targeted towards free-thinking women, Nasty Gal’s collection primarily consists of bold and eclectic pieces catering to customers from over 60 countries since 2006, while DP continues to be a legacy brand, best known for their fun, feminine and versatile line. The brands have successfully established themselves as some of the most desirable and on-trend brands across the globe.

    The three distinct brands will be housed under a dedicated Online Brand Store (OBS) on Myntra, to enable shoppers to easily browse and discover their favorites across the brand catalogs. The brands will also indulge in compelling marketing activities that include influencer activation and visibility across Myntra’s path breaking social commerce initiative, M-Live.

    On their India foray through Myntra, John Lyttle, CEO, Boohoo Group, said, “We are thrilled to be partnering with Myntra as our strategic partner in India. The Indian market represents a fantastic opportunity for the Boohoo Group and Myntra’s digital first approach makes this a great strategic partnership.”

    Speaking on partnering with the Boohoo Group, Sharon Pais, Chief Business Officer, Myntra, said, “We are ecstatic to bring the Boohoo Group to India and be their partner of choice as they foray into this geography. At the back of our unmatched reach and cutting edge tech interventions, Myntra continues to be at the forefront of enabling access to sought after global brands for consumers and drive the vision of leading brands to effectively reach fashion-forward Indian consumers. Boohoo, DP and Nasty Gal are poised to be well received by discerning fashion conscious consumers in the region and we are excited to aid them in this journey.”

    Lees ook:

    Lees ook:

  • Global giants eye Vietnam e-commerce logistics market

    Global giants eye Vietnam e-commerce logistics market

    The world’s largest container shipping line Maersk and U.S. express delivery company FedEx are seeking to enter Vietnam’s e-commerce logistics market. Ditlev Blicher, regional managing director for Asia-Pacific, A.P. Moller – Maersk (Maersk), was in the country this week, three months after the Danish company spent US$3.6 billion on acquiring Hong Kong firm LF Logistics.

    He said with LF Logistics’ expertise in omnichannel orders, Maersk would have a better position in the global e-commerce market, including Vietnam. He said that his company plans to offer business-to-business (B2B) and business-to-consumer (B2C) delivery services.

    Hoan Dang, head of omnichannel order fulfillment at Maersk Vietnam and Cambodia, said with the acquisition of LF Logistics, his company could join hands with e-commerce platforms to handle goods orders in the Vietnamese market.

    FedEx is integrating its services with e-commerce platforms to enable online retailers to use them without leaving the platforms.

    Hardy Diec, managing director of FedEx Express Indochina, said e-commerce would continue to flourish in Vietnam.

    Earlier this month his company opened a new $2-million operations center in Hanoi’s Bac Tu Liem District. Vietnam will be one of the top 10 countries for FedEx in terms of trade volume growth over the next five years.

    Vietnam will achieve the highest growth in the digital economy in Southeast Asia between 2022 and 2025, a report by Google, Temasek and Bain & Company has forecast.

    Its digital gross merchandise volume is likely to reach $23 billion in 2022, and $32 billion by 2025.

    According to global firm Allied Market Research, Vietnam’s express delivery market is expected to be worth $4.88 billion by 2030 after growing at 24.1% annually, with the growth of e-commerce being one of the main drivers.

    Logistics firms are expanding their services and lowering prices.

    This month Lazada Logistics announced it would start offering omnichannel deliveries for online shops.

    J&T Express announced cuts of 10-20% in freight.

    Lees ook:

  • Global giants eye Vietnam e-commerce logistics market

    Global giants eye Vietnam e-commerce logistics market

    The world’s largest container shipping line Maersk and U.S. express delivery company FedEx are seeking to enter Vietnam’s e-commerce logistics market. Ditlev Blicher, regional managing director for Asia-Pacific, A.P. Moller – Maersk (Maersk), was in the country this week, three months after the Danish company spent US$3.6 billion on acquiring Hong Kong firm LF Logistics.

    He said with LF Logistics’ expertise in omnichannel orders, Maersk would have a better position in the global e-commerce market, including Vietnam. He said that his company plans to offer business-to-business (B2B) and business-to-consumer (B2C) delivery services.

    Hoan Dang, head of omnichannel order fulfillment at Maersk Vietnam and Cambodia, said with the acquisition of LF Logistics, his company could join hands with e-commerce platforms to handle goods orders in the Vietnamese market.

    FedEx is integrating its services with e-commerce platforms to enable online retailers to use them without leaving them. Hardy Diec, managing director of FedEx Express Indochina, said e-commerce would continue to flourish in Vietnam.

    Earlier this month, his company opened a new $2-million operations center in Hanoi’s Bac Tu Liem District. Vietnam will be one of the top 10 countries for FedEx in terms of trade volume growth over the next five years.

    Vietnam will achieve the highest growth in the digital economy in Southeast Asia between 2022 and 2025, a report by Google, Temasek, and Bain & Company have forecast. Its digital gross merchandise volume will likely reach $23 billion in 2022 and $32 billion by 2025.

    According to global firm Allied Market Research, Vietnam’s express delivery market is expected to be worth $4.88 billion by 2030 after growing at 24.1% annually, with the growth of e-commerce being one of the main drivers.

    Logistics firms are expanding their services and lowering prices.

    This month Lazada Logistics announced it would start offering omnichannel deliveries for online shops.

    Lees ook:

  • JD.com to slash top exec salaries amid China’s ‘common prosperity’ push

    JD.com to slash top exec salaries amid China’s ‘common prosperity’ push

    China’s JD.com said on Tuesday it would cut the salaries of more than 2,000 senior managers by 10% to 20% next year to help pay for improved benefits for other staff amid the government’s “common prosperity” drive to reduce income inequality.

    Liu also plans to personally donate 100 million yuan to a fund that help children of JD employees should anything happen to their parents, said the letter circulated online and later confirmed by JD.com as authentic.

    “The employee benefits plan is currently being improved, with a focus on front-line staff,” a JD representative told Reuters. The company has 540,000 employees.

    Alibaba Group 9988.HK and Tencent Holdings 0700.HK last year pledged to spend billions to support the effort, while state-owned investment banks have implemented pay cuts and delayed bonus payments this year.

    JD has been hit by a slowing economy and flagging consumer spending this year, though it last week posted an 11.4% rise in third-quarter revenue and said it was seeing signs of a demand recovery as China adjusted it zero-COVID policy.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Alibaba quarterly revenue misses expectations as spending slows

    Alibaba quarterly revenue misses expectations as spending slows

    Chinese e-commerce giant Alibaba Group Holding Ltd 9988.HK posted a smaller-than-expected rise in quarterly revenue on Thursday as COVID-19 curbs and a worsening economic outlook stifled consumer spending.

    Retail spending in China has sagged this year with consumers frustrated by the government’s strict zero-COVID policies that have led to frequent snap lockdowns and hurt economic activity.

    Alibaba has also had to contend with stiff competition from the likes of Pinduoduo PDD.O and ByteDance’s Douyin – the Chinese version of Tiktok – which have expanded their e-commerce offerings and taken more market share.

    The company has also yet to fully recover from a regulatory crackdown on the tech sector that has curtailed growth opportunities.

    Revenue grew 3% to 207.18 billion yuan ($28.96 billion) in the three months ended Sept. 30, compared with a Refinitiv consensus estimate of 208.62 billion yuan drawn from 25 analysts.

    Alibaba, which runs China’s largest online marketplaces Tmall and Taobao and owns a wide range of businesses from logistics to cloud services, reported net loss attributable to shareholders of 20.56 billion yuan in the quarter.

    Excluding one-off items, Alibaba earned 12.92 yuan per American Depository Share.

    Lees ook:

  • Double Day e-commerce sales likely to be muted this quarter

    Double Day e-commerce sales likely to be muted this quarter

    Double Day sales this quarter will not match those of past years since inflation remains a worry for consumers, businesses have said.

    Sales on days such as November 11 and December 12 are the year’s highest as many firms and e-commerce companies run massive promotion programs.

    According to data from French online display advertisements provider Criteo, online retail sales on November 11, December 12 and Black Friday last year were 128%, 143% and 92% higher than on normal days.

    However, on October 10 sales in Vietnam increased by only 48% compared with 125% last year.

    Sales on November 11 and December 12 would not rise by as big rates as before, Mark Gubbels, Criteo’s commercial head for Southeast Asia, said, noting that consumers would be more cautious in spending.

    Retail sales increased only 17.1% year-on-year in October compared with more than 36% the previous month.

    Inflation accelerated after the end of the third quarter, surging by 4.3% year-on-year in October.

    Nguyen Chanh Chung, owner of cosmetics brand Lagivado, said demand would not be as strong this year as in the past, while e-commerce platforms would not offer as big promotions in the last quarter as they normally do.

    To attract customers, Shopee and Lazada are organizing live online music shows, while the former is also offering vouchers and discounts.

    Nguyen Manh Tan, marketing director of Haravan Technology Corporation, said consumers currently like omnichannel (combining online and offline sales), the direct-to-consumer model, conversational commerce, and livestreams on social networks.

    “E-commerce businesses should apply these four business models to approach and attract customers, increase revenues and cut costs and build their brand reputation.”

    There are around 100 e-commerce platforms in Vietnam with hundreds of thousands of vendors.

    In 2020 Shopee had 210,000 vendors and Tiki had 8,800, according to tax authorities.

    The e-Conomy Southeast Asia 2021 report by Google, Temasek and Bain & Co. forecast Vietnam to surpass Thailand by 2025 to become the second biggest Internet economy in Southeast Asia at US$57 billion after Indonesia ($146 billion).

    Lees ook:

    Lees ook:

  • MacBook Air M1 prices up by over $40 in Vietnam

    MacBook Air M1 prices up by over $40 in Vietnam

    Apple authorized resellers in Vietnam have increased the prices of MacBook Air M1 by over VND1 million (more than $40) against late July when promotion campaigns were on.

    In late July, the laptop’s selling prices were VND21.7-23 million, lower than the list price in the U.S. market.

    Now, the selling prices are VND23-24 million, with VND22.8 million the lowest price offered by some resellers.

    An unnamed manager with a reseller told local media that demand for electronic devices, including laptops and tablets had decreased several months ago, so Apple, distributors and resellers launched big promotion campaigns. Prices of MacBook Air M1 in July fell to the lowest.

    Retailers including CellphoneS and Di Dong Viet said MacBook Air M1 prices have climbed up now because of the dollar value rising against the dong and the promotion campaigns coming to an end. However, purchasing power remains high in the market, they said.

    “Among our total sales of MacBook models, MacBook Air M1 accounts for some 40%,” said the manager of a The Gioi Di Dong store who did not want to be named. CellphoneS has reported the corresponding figure at 30-35%.

    At ShopDunk, MacBook Air M1 sales over the past month rose 20% against July. “It is the cheapest among Mac models, while its M1 chip’s performance and efficiency is still very good,” said manager Pham Tuan Anh.

    Lees ook:

    Lees ook: