Retail News CRM

Category: General

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

  • Google notes changes coming to Google Maps including AR-based “Search with Live View”

    Google notes changes coming to Google Maps including AR-based “Search with Live View”

    On Thursday, Google revealed in a blog post that some changes are coming to Google Maps. One new feature, “Search with Live View,” was unveiled in September and will start rolling out next week on both iOS and Android platforms in London, Los Angeles, New York, Paris, San Francisco, and Tokyo. The feature, which uses augmented reality, requires that you use your phone’s camera. Here’s how it works.

    Remember Live View on Google Maps? If you’re walking, the app will overlay arrows on top of a real-world view from your camera to help you navigate from one place to another. Live View will also show you certain landmarks. Search with Live View helps you find places that are close to your current location in certain cities.

    For example, let’s imagine that you are in New York City and you want to run some errands, do some holiday shopping, and, dine with friends. Thanks to AI, AR, and billions of Street View images, you can find the places you need that are mostly right in front of you. From the Google Maps app, lift your phone and tap on the camera icon in the search bar to see stores that are nearby along with coffee shops, banks, and ATMs.
    The user will see arrows and directions in front of a real-world view thanks to AR. And with all of those aforementioned Street View images available, even stores that are around the corner and not accessible to your phone’s camera can show up. And besides showing you the name of each store, bank, or restaurant, Search with Live View will provide you with other important information such as whether a store is open or closed, how busy it might be, whether its prices are cheap or dear, and how high or low the Google Maps community considers the business.
    The filter can also be used to show charging stations that use plug types compatible with your car. These new features are available right now on iOS and Android devices in countries
    that have EV charging stations.
    Lastly, Google reminds us that it has been two years since it started showing wheelchair accessible places in Australia, Japan, the U.K., and U.S. This feature will let you know when a destination is wheelchair accessible. The good news here is that the feature is now available globally on Google Maps regardless of whether you use the iOS or Android platform. To use it, turn on the “Accessible Places” setting in Google Maps. Here’s what you do:
    Open Google Maps and tap the initials, or profile pix on the right side of the search bar near the top of the display. Tap on Settings > Accessibility settings. Toggle on Accessible places which will “Show if places have wheelchair accessible features like entrances, seating, restrooms, and parking when searching or viewing a place.” Google does warn that accessibility information seen on this feature may differ from conditions in the real world.
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  • What is Zero-party Data and Why Will it Become so Important?

    What is Zero-party Data and Why Will it Become so Important?

    What is zero-party data?

    Data is being collected on individuals and exchanged everyday between systems and third parties, but soon the tools to collect this data are radically changing.  In order to understand why zero-party data is so important we must first understand the various ways that data is currently being collected.

    • Third-party data – Data purchased from outside sources that aren’t your own. This data is typically purchased from data aggregators, advertisers or platforms such as Meta or Google. This is very valuable in connecting brands with customers they have no previous interactions with, but third-party data is also the most unreliable of all data types as it is typically pulled from a large pool of data and openly sold.
    • Second-party data – obtained by a company via first party data collection methods and then is sold to another company. The key difference between second- and third-party data is second-party data is usually specialized as it often obtained through strategic partnerships and specific deals instead of openly sold like third-party data.
    • First-party data – directly obtained from a user via their behavior on a company’s website or mobile app. Examples of this are sections clicked, scrolling/hover time, active time spent in session, purchase history, and browsing data.
    • Zero-party data – obtained directly from your users. This data is often most valuable and accurate amongst all data types. The reason being is your customers are willingly giving up this information to you so you can trust the source more implicitly. New methods of zero-party data collection are evolving everyday but currently this information comes from surveys, customer profile information, and pop-up questionnaires.

    While third-party data can sometimes be unreliable, first and zero-party data can typically be very trusted as the information is coming directly from your customer in both cases. The main advantage of zero-party data over first-party data is that your customer is knowingly and freely giving you that information to act on so generally they are excited to receive something related to that information. On the other hand, since first-party data is not implicitly given, there may be more apprehension among consumers to respond to any marketing campaigns or promotions that was derived from the first-party data. This is just one reason why zero-party data is so valuable.

    Why is zero-party data important?

    With all these various methods of collecting data, you might wonder why we need to focus on zero-party data so much as it seems simple to get data you need without doing the collecting yourself. It is imperative you are sourcing your own data in addition to any outside sources you are receiving for a variety of reasons:

    • The data collection landscape is changing

    We are entering a new phase of data collection due to new privacy regulations which have been a hot topic of debate after scandals such as Cambridge Analytical and documentaries such as “The Social Dilemma” have begun to open consumers’ and legislators’ eyes about how valuable data is and how it can also be misused. This trend of data protection will likely only continue so the time to develop your own methods of zero party data collection is now.

    • Third-party data tools are disappearing

    In response to this these trends, companies like Google and Apple are completely revolutionizing the way they collect and share data. Google is focused on removing the infamous “cookies” from its web browser that has been the leading tool in third party data collection. Of course, they won’t be eliminating data collection entirely, but most of their data will be stored in house and outside parties will not have nearly the same level of access available to them. Apple on the other hand is putting the ball back into the consumer’s court and giving them the option to allow information to be exchanged between apps.

    These are just the start of the changes to data collection and with each change third-party data becomes more and more unreliable so you as a company must be proactive in your data collection and develop some tools for collecting zero-party data.

    How to collect zero-party data

    According to the Pareto principle, 20% of your customers provide 80% of the value, so if you can keep your best customer’s happy, engaged and feel rewarded your business will have a solid foundation. Customers are inclined to give up their information to a company if they feel they are receiving a more personalized and tangible benefit. Customers also prefer this route than the other data collection methods as its less likely to appear like they are being spied on or listened to by their devices. How you collect zero-party data can depend on your member base and their preferences but there are quite a few established methods which have generated great success.

    • Member attributes

    The most basic is capturing data from a member’s profile either upon enrollment or after the fact. This gives you the chance to collect some preferences from your customer beyond their basic demographic and contact information.

    • Pop-up quizzes

    Another great method of catching and instantly utilizing a new user’s attention is giving a small pop-up questionnaire to your customers that contains just a few questions that once answered will direct them to specific products that fit their interests.

    • Questionnaires

    Once you have a strong customer base you can also send your customers direct surveys which can range from details of level of service, specific products or preferences they are interested in, or general overall feelings of your brand.

    • Online polls

    Another popular feature being implemented today are online polls where members can vote on their choices for things like next month’s special release, their favorite designs, etc. This helps to give members a feeling of belonging and participation in the company’s direction.

    • Contests/competitions

    One way to drive engagement in your campaigns and promotions is to create an online competition amongst your customers where the top participants are granted an extra bonus on top of the regular promotion. These contests can be centered around certain information submitted or actions taken by your customers and can be incorporated into your zero-party strategy.

    All of these methods have their advantages, but the true road to success lies with utilizing a combination of these methods. Not all of your customer base will respond with the same level of enthusiasm to each method, so it is always wise to diversify your zero-party data marketing amongst your entire platform.

    How to use zero-party data

    Now that you have obtained a new higher level of data via your zero-party data strategy it is important that this data is not wasted. Make sure you understand your objectives before you launch your data collection, or it will be worthless. You are less likely to have customers repeat your data collection methods if they aren’t seeing a tangible benefit. Customers are tired of their data being harvested without being rewarded. There are also many ways of utilizing this data to reward your customers.

    • Quick and easy enrollment process

    Zero-party data should be used to ease enrollment by collecting the necessary minimal data points but also can be paired with a reward incentive if they complete a quiz that gives additional member profile answers. This combination can help lower customer acquisition price and start off your customer with a quick and easy signup as well as feeling rewarded for providing additional data points. This in turn helps to transform your program into a zero-party data platform.

    • Targeted messaging

    Once customers start giving you their preferences you can tailor your communications to each member in the form of newsletters, informational videos/blogs that are sent out, invitations to live events/workshops, new product campaigns and promotions, etc. to the customers who are most interested in those areas which should increase your acceptance and participation rates among customers.

    Benefits from zero-party data

    As we’ve highlighted, your time to utilize third-party data is running out as third-party data becomes harder to capture and, overall, more unreliable. Your ability to capture and utilize zero-party data from your customers will reap immense benefits. With zero-party data you know the data quality is reliable so you can act on it with more confidence and can translate into tangible results:

    • Building more personalized campaigns – your customers are telling you exactly which products and services they care for more, so you know exactly what to offer them. A clothing retailer, for example, can target customers by their favorite season or article of clothing and target new releases specifically for that segment. Once your campaigns become more personalized your customers will no longer see those as spam, but instead will be eager and excited to see the new campaigns and engagement will rise.
    • Improved forecasting – when you are collecting zero-party data from customers, you have the ability to employ your data collection for future events as well instead of just reporting on data from past behavior. This allows you to gauge interest on future releases or events to see what your members really desire going forward. For example, sending out a survey to your members on potential new products launching next year.
    • Simplified enrollment – when customers feel valued for their data they are more willing to give it up. This can play into easing your enrollment process by requiring fewer mandatory data collection points upon enrollment. Instead of being bogged down by a long enrollment process your members can give bare minimum details to get started in the program and then enter that information after the fact as they find out how much these answers benefit them and their experience.
    • Improve rewards – when you receive direct customer feedback your members can let you know how they want to be rewarded so you can tailor your promotions to hit those desired rewards and increase engagement & satisfaction. These rewards can also be applied to your referral program and turn your members into brand ambassadors.

    How Comarch can help guide you through the new era of zero-party data

    As a leader in the loyalty industry, Comarch has kept a close eye on the evolving landscape of data collection, processing and regulation. As we have seen and discussed where this landscape is heading, zero-party data collection, in GDPR compliance, has been a key cornerstone of our Loyalty Platform. Within our loyalty platform you will have access to a wide range of first party data such as transaction details, rewards redemption, participation within your program which combined with our zero party data collection tools will surely help gain and retain customers at a much higher rate. Some of these tools include:

    • Custom attributes – every program has member details it collects such as name, age, home location, etc. Our program gives you the option to create custom data points you want to collect from your members in a date, text or number format. These data points can be optional or mandatory depending on your preference and can be required for enrollment or adjustable within the member profile area. Once your members have submitted answers for these attributes, your member will automatically be assigned to any segments related to those attributes. Ideally, those segments would include personalized targeting for promotions and campaigns.
    • Surveys – we have gone a step further and are expanding on the custom attribute methodology. Instead of simple data collection points, surveys allow you to send out more in-depth questionnaires to your members which can be used to gauge interests in new products or services ahead of time. These answers can also be fed into your segmentation tool for increased personalization and communication to your members.
    • Tailored content – after employing these data collection tools you must now utilize that data properly or your customers will be less likely to volunteer their personal information. In combination with your platform’s data analytics and marketing automation tools you will be able to personalize discounts, newsletters, campaigns, invitations to your customers on an entirely new level. You will even be able to tailor your communications to their preferred medium and timing. Our artificial intelligence and machine learning are working in the background to determine your customer’s lifetime value and the source of this data is integral to the results.

    Our strategy and consulting experts are constantly learning the newest methods of data collection and helping our system evolve to meet those needs. Learn more about this process and if the Comarch Loyalty Management System is right for you, here.

     

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  • iCloud.com is now looking sleek and modern after getting a design update

    iCloud.com is now looking sleek and modern after getting a design update

    iCloud.com is definitely not a solution that regular users would use on a daily basis, but that doesn’t mean that the user experience it offers isn’t important. And to highlight that fact, Apple has gone ahead and given it a fresh coat of paint.

    After weeks of beta testing, the redesign is now live and offers a more colorful and modern look. Not that the service has ever looked bad per se, but it sure felt outdated, with Apple revamping its devices’ styling over the years.

    The presentation speaks for itself: it is really reminiscent of an iPad home screen, and that simply makes sense. With such a modern and easy-to-understand design already being available, there would be no point to reinvent the wheel, right.

    As to the utilities – they haven’t changed much. In most cases, they act and feel just as they did before. While in some cases, the full apps can’t be replaced, in others it’s just an extra feature – like taking a quick note without taking your iPhone out of your pocket

    When you go a bit lower than the overview section, you will notice that there’s a single button, placed in the middle of the screen, labeled “Customize Home Screen”. Upon clicking it, all widgets will start their famous wiggle-jiggle dance.From that point onward, the process will be extremely familiar to any iPhone user and pretty simple for anyone else: you can move widgets around to suit your workflow, remove the ones that you won’t use, or create new ones that you need via a dedicated button.

    All widgets come in two form factors:

    • A smaller square format, which looks great on Reminders
    • A larger rectangle, allowing visibility over Calendar events on an Email inbox

    They automatically take one of the two shapes, depending on how your Home Screen is arranged.

    For example, it’s impossible to remove the square profile widget, so the one right of it will always be a rectangle. Each newly added widget will always first be placed to the right of your profile and push everything else to the row below.

    You are able to arrange them as you best see fit, but if you’d like to achieve a specific form factor for a given widget, you’ll have to take into account the pattern that they naturally take. Oh, and fun fact: you can have multiples of the same widget too.

    You can also bring up a cumulative widget aptly called Apps, which presents all apps as if in a folder, but if you’d like to have less clutter on your Home Screen, you can also access them from the navbar on top.

    Speaking of the navbar, it also grants quick access to other features too, like customization of the Home Screen and shortcuts to Storage, Plan, and a user guide. The latter can also be seen in an overview at the far end of the iCloud page itself.

    While probably not a priority, it’s great to see that the page is still important to Apple. This refresher brings the solution closer to the brand’s overall product line and makes it easier to use for newer users, who don’t remember how iOS looked back in the day.
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  • AirAsia launches new route to Singapore from Sibu

    AirAsia launches new route to Singapore from Sibu

    AirAsia announced the launch of its newest international route from Sibu, Sarawak’s quaint town to the ‘Lion City’ Singapore. The inaugural flight is set to take off on 16 December 2022, with an initial frequency of 4 times weekly.

    Earlier this year, AirAsia launched two back-to-back direct routes connecting Sarawak to Singapore amid popular demand. Both its inaugural Kuching to Singapore and Miri to Singapore flights took off on 29 April 2022.

    This new route from Sibu marks the airline’s third direct international route from the state, making AirAsia the carrier with the widest network and largest connectivity in Sarawak.

    Riad Asmat, CEO of AirAsia Malaysia commented: “Serving unique and underserved routes is something AirAsia does well in our mission to stimulate air travel through affordable connectivity.

    ”We’re thrilled to announce this new route which we are flying for the first time ever, connecting travelers to two immensely popular destinations where we see strong demand for two-way travel. AirAsia changed the travel landscape two decades ago, connecting Peninsular Malaysia, Sabah and Sarawak with low, affordable fares, making flying a dream come true for many. Twenty-one years later, here we are launching our third international route from Sarawak to Singapore and flying hundreds of thousands of travelers here each year providing a welcome shot in the arm for tourism and the economy in the region. This wouldn’t be possible without the incredible support and cooperation of the Sarawak state government, our tourism and industry partners, and our dedicated team at AirAsia.

    “This milestone comes at an amazing time for us as exactly two months ago, we resumed operations at Changi Airport’s state-of-the-art Terminal 4 – and now we’re ready to take on more flights! We look forward to working closely with fellow industry players in the near future to make this route a success. I urge bargain hunters to grab this incredible promo price and explore these beautiful cities with us!”

    From December, AirAsia will also be increasing its flight frequency for Kuching-Singapore to 11x weekly and Miri-Singapore to 5x weekly. Flights are available for booking from the airasia Super App and airasia website.

    AirAsia adds flights to and from Hong Kong starting this December
    Also, the airline announced that it will increase flights to and from Hong Kong starting this December, with a special promotion to support the surge in travel demand ahead of the upcoming festive seasons.

    Flights between Hong Kong and Bangkok (Don Mueang) will be increased to four times weekly starting from 15 December, while Hong Kong – Kuala Lumpur and Hong Kong – Manila will be flying three-times weekly.

    All additional seats are now available for booking on airasia Super App with a special promo fare exclusively for travellers to and from Hong Kong to enjoy a long-awaited getaway or  reunion with loved ones for the upcoming holiday season.

    Karen Chan, Group Chief Commercial Officer of AirAsia said: “Hong Kong is an integral part of our network and we are thrilled to be back offering affordable direct connectivity between Hong Kong and Southeast Asia once again.

    “With Hong Kong relaxing entry restrictions by allowing quarantine-free travel for tourists from September this year combined with strong forecast demand, we are excited to welcome more  guests to and from Hong Kong with increased flight frequency ahead of the festive season and a special promotional fare as we usher in the New Year.

    “We are also launching new services in the Greater China region and look forward to resuming more passenger flights direct to mainland China in the near future.”

    As the AirAsia Group increases its services to Hong Kong, guests with AirAsia flight bookings to and from Hong Kong for the period up until 17 December 2022 will be able to change their flights at no charge via the airasia Super App and website. New flight dates can be selected up until 31 December 2022 providing greater flexibility and convenience.

    Effective 26 September 2022, relevant inbound travellers entering Hong Kong are not required to undergo compulsory quarantine, but under medical surveillance for 3 days, subject to Amber Code restrictions under Vaccine Pass. Guests are advised to check the conditions and requirements imposed by the authorities before departing.

    AirAsia upgrades reservation and passenger-processing systems
    AirAsia would like to inform all guests that it will be upgrading its reservation and passenger-processing systems between 23 November 2022, 09:00PM (GMT+8) and 24 November 2022, 03:00AM (GMT+8). The upgrade is part of its continuous effort to provide guests with an enhanced online experience.

    While the airline expects a smooth transition, AirAsia guests are advised that they may face service disruptions during the system upgrade. These include self check-in online via the airasia Super App and website, flight bookings on airasia Super App and website, as well as airasia rewards redemption. The system upgrade will also impact ground operations, and affect availability of the check-in and baggage drop services at all airports where AirAsia operates. All relevant staff and processes will be deployed to assist guests on the ground should the upgrading exercise incur any service disruption or take longer than scheduled.

    All other services on the airasia Super App and website, namely airasia ride, airasia food, hotels, and airasia Travelmall will not be affected and will be available as usual.

    Affected guests travelling during the upgrade timeframe will be notified of this exercise through email and SMS. It is recommended that guests update  their contact details to ensure they receive the latest notifications on the status of their AirAsia flights.

    Travellers flying with AirAsia are strongly encouraged to perform self check-in online via the airasia Super App and website – available from 14 days prior to departure for all flights and arrive at the airport at least four hours prior to their departure time for a smooth and seamless journey. Guests are also highly advised to use the e-boarding pass where it’s available.

    AirAsia sincerely apologises for any inconveniences caused by this system improvement and seeks to minimise any disruption for guests travelling during that period.

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  • Hanoi considers year-long trial of public bike service

    Hanoi considers year-long trial of public bike service

    The Hanoi Department of Transportation has proposed to the municipal People’s Committee that a public bike service be launched in the capital city for a 12-month trial period.

    Under the proposal, private firm Tri Nam will provide 1,000 bikes, 50% of them electric, at 94 locations in the city.

    The pilot project is set to cost over VND30.3 billion ($1.22 million).

    The company will charge VND10,000 for a 30-minute trip on electric bikes and VND5,000 for the same duration on normal bicycles.

    Full-day rent for the electric bike will be VND120,000 and half that for pedal bicycles. Monthly tickets will also be available for commuters, who will make payments with e-wallets.

    Six downtown districts will be prioritized for the pilot project, including Ba Dinh, Dong Da, Tay Ho and Hai Ba Trung.

    The project is part of the department’s initiatives to diversify public means of transport and to reduce emissions.

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  • AirAsia revives Kaohsiung flights

    AirAsia revives Kaohsiung flights

    AirAsia celebrated its post-pandemic inaugural flight to Kaohsiung from Kuala Lumpur on 12 November, ending two years of no air connectivity between the cities.

    Flight AK170 took off at 1725 and arrived at 2155 l in Kaohsiung, carrying 114 guests onboard.

    AirAsia Malaysia CEO Riad Asmat said: “The inaugural flight from Kuala Lumpur to Kaohsiung is a long-awaited occasion for us. Our Kaohsiung and Taipei routes have been amongst our most popular and frequented by many since we commenced operations in the region in 2005.

    “Now that travel restrictions have eased worldwide, we look forward to connecting more travellers to Kaohsiung and soon to Taipei when the flights resume in December.

    Kaohsiung, famed for its picturesque harbour and sprawling landscape, is one of AirAsia’s most popular destinations in North Asia.

    To celebrate the resumption of flights to Kaohsiung and Taipei, travellers can purchase fares from MYR349 for all-in-fare travel between 1 January 2023 and 30 March 2024. The booking window closes on 20 November.

    Since 13 October 2022, travel restrictions have been eased for most international visitors to Kaohsiung and Taipei. Malaysians (as well as citizens from selected countries) can visit these cities without visas, vaccinations, Covid-19 tests or quarantine requirements.

    The Travel & Booking Period for new Taipei and Kaohsiung services on sale now.

  • WhatsApp Beta enables users to utilize the app on multiple phones

    WhatsApp Beta enables users to utilize the app on multiple phones

    WhatsApp is one of the staples of modern mobile communication. It offers safety through it’s end-to-end encryption and a list of features, which seems to have become ever-growing.

    Recently, the app got updated with a brand new feature called Call Links. Not much time has passed since then, and users enrolled in Beta already got some exciting news, which Whatsapp fans have been clamoring for: using a single account across multiple phones.

    The steps are very simple; however, keep in mind that this is only for a limited number of users on the Beta. The easiest way to check if you’ve got access to the feature is by tapping on the top right menu and checking for a “Link Device” option.

    If you see it, it’s pretty straightforward from there:

    1. Click on the Link Device button to generate a QR code
    2. Scan the QR code with your Companion device (phone or tablet)
    3. Presto! Now you have WhatsApp on both phones

    Naturally, make sure to have WhatsApp installed on your secondary device of choice. The process is very familiar to setting up WhatsApp Desktop, but again – this is a Beta. As such, bugs are expected, but your participation is sure to help clear them out quickly.

    WhatsApp seems to be looking to grow its services and it’s refreshing to see. Seasoned Android veterans are sure to have noticed how many apps are available, which allow users to utilize multiple WhatsApp accounts on a single device.That’s a sure sign that this is a sought-after feature, but it would be best served from the Meta-owned company, in order to ensure data safety. But still – maybe this is the next logical step in this update chain, but we will have to wait and see.

    Those of you who are already enrolled in the WhatsApp Beta program may want to check if the 2.22.24.18 update is available to them, though a wide rollout is still not unleashed. If you are excited to try this feature, make sure you enroll in the Beta program – you might be one of the lucky ones!

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  • Lotus’s launches smart community centre flagship store

    Lotus’s launches smart community centre flagship store

    Thailand’s retail chain Lotus’s has opened a Smart Community Centre concept dubbed Lotus’s North Ratchapruek in the northwest of Bangkok.  Operated by Ek-Chai Distribution System, the $42 million project spans more than 47,000sqm and is home to 130 shops and a hypermarket, which features more than 28,000 products. A majority of tenants are new partners, who have opened a branch in conjunction with Lotus’s for the first time.  “The new Lotus North Ratchaphruek Smart Community Center w

    “The new Lotus North Ratchaphruek Smart Community Center will be a model for renovating existing Lotus branches and opening new branches in the future,” said Sompong Rungnirattisai, CEO at Ek-Chai Distribution System.

    Rungnirattisai said the company plans to roll out several hypermarkets next year by adopting concepts from the North Ratchapruek branch.

    Earlier this year, the operator disclosed it was to invest US$354 – $382 million in store openings, store revamps and the development of infrastructure and online systems.

    The company has recently shifted its focus to expanding omnichannel and introducing new retail formats, including the Smart Urban Supermarket concept, Smart F&B Heaven and Open Air Mall.

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  • Thai grocery retailer Big C eyes $500 million IPO

    Thai grocery retailer Big C eyes $500 million IPO

    Big C Supercenter, which runs supermarkets and convenience stores in South-east Asia, is considering going public again in Bangkok through an initial public offering that could raise more than US$500 million, according to people familiar with the matter.

    The Bangkok-based company is sounding out investment banks for proposals for the share sale, which could happen as soon as next year, the people said, asking not to be identified as the information is private.

    Discussions are ongoing and details of the potential offering such as fundraising size and timing could still change, the people said. An investor relations representative for Berli Jucker, the owner of Big C, said they have no information on the IPO plans so far.

    Big C was founded by Thailand’s Central Group in 1993 and opened its first store on Chaengwattana Road. The company raised about US$112 million in a Thai IPO in 2012.

    TCC Holding, controlled by Thai billionaire Charoen Sirivadhanabhakdi, in 2016 agreed to purchase a 58.6 per cent stake in Big C for 3.1 billion euros (S$4.34 billion) from French retailer Casino Guichard Perrachon. Big C was delisted in 2017 after Berli Jucker, a subsidiary of TCC, took it private.

    Big C operates 1,792 stores including convenience stores, supermarkets and hypermarkets in Thailand, Vietnam, Laos and Cambodia, according to its latest presentation. The company earlier this year acquired 18 Kiwi Mart stores in Cambodia and plans to rebrand them into Big C Mini stores.

  • Meta cuts 11,000 jobs as it sinks more money into the metaverse

    Meta cuts 11,000 jobs as it sinks more money into the metaverse

    Meta Platforms Inc said on Wednesday it would cut more than 11,000 jobs, or 13% of its workforce, as the Facebook parent doubled down on its risky metaverse bet amid a crumbling advertising market and decades-high inflation.

    The mass layoffs, one of the biggest this year and the first in Meta’s 18-year history, follow thousands of job cuts at other tech companies including Elon Musk-owned Twitter, Microsoft Corp and Snap Inc.

    Like its peers, Meta hired aggressively during the pandemic to meet a surge in social media usage by stuck-at-home consumers. But its business has suffered this year as advertisers and consumers pull the plug on spending in the face of soaring cost pressures and rapidly rising interest rates.

    “Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected,” Chief Executive Officer Mark Zuckerberg said in a message to employees.

    “I got this wrong, and I take responsibility for that.”

    Meta, once worth more than a trillion dollars, is now valued at $256 billion after losing more than 70% of its value this year alone.

    Shares rose 4% on Wednesday as investors cheered caution by a company that has been pinning its future on the metaverse with pricey investments that Zuckerberg himself says will take a decade to bear fruit.

    “The market is breathing a sigh of relief that Meta’s management or Zuckerberg specifically seems to be heeding some advice, which is you need to take some of the steam out of the growing expenditure bill,” Hargreaves Lansdown analyst Sophie Lund-Yates said.

    The company now expects 2023 expenses between $94 billion and $100 billion, compared with the $96 billion to $101 billion range projected previously. It also narrowed its 2023 capital expenditures forecast range.

    Other than the job cuts, which will impact units across Meta with a disproportional hit to the recruiting and business teams, the company will also reduce office space, lower its discretionary spending and extend a hiring freeze into the first quarter to rein in expenses.

    Metaverse cash burn

    Still, more of the leftover resources will go toward the Reality Labs unit responsible for its metaverse investments. The business lost $9.44 billion between January and September this year, with losses expected to grow significantly in 2023.

    The spending spree has drawn the ire of Wall Street and shareholders, with one investor recently calling the investments “super-sized and terrifying”. Analysts have also questioned how long Meta can pour money into the project in a weak economy.

    “They’re going to have to continue to rightsize … next year is going to be a difficult environment for them,” said Paul McCarthy at Kisco Capital, which previously owned Meta shares.

    McCarthy added that he was skeptical about the company’s metaverse bets, and that rising interest rates and a gloomy macro environment could continue to weigh on the ad market.

    As part of the severance package, Meta will pay 16 weeks of base pay and two additional weeks for every year of service, as well as all remaining paid time off.

    Impacted employees will also receive their shares that were set to vest on Nov. 15 and healthcare coverage for six months, according to Meta, which had 87,314 employees as of the end of September.

    The company did not disclose the exact charge for the layoffs, but said the figure was included in its previously annou

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  • Bamboo Airways ex-chairman takes leading positions at TNG

    Bamboo Airways ex-chairman takes leading positions at TNG

    Three months after leaving Bamboo Airways, Dang Tat Thang has taken over as vice chairman and deputy CEO of conglomerate TNG Holdings.

    Thang will manage the external affairs of TNG Group and its various subsidiaries, and directly manage TNS and TNH, which have interests in investment, hotel management, trading, and services.

    Established in 1996, TNG Holdings has 11 subsidiaries with more than 3,000 employees that operate in real estate, trade services, hotels, energy, and banking and finance.

    Thang has a master’s degree in construction project management from Northumbria University in the UK.

    He has nearly 20 years’ experience in project management and investment at both local and foreign firms such as Compass Group UK & Ireland, Capital Land Singapore, FLC Group, and Bamboo Airways.

    In July, Thang, 41, who helped set up Bamboo, resigned as its chairman and general director citing personal reasons after eight years at the company. He also resigned as FLC vice chairman.

    He had taken over as vice chairman of FLC and Bamboo Airways after former chairman Trinh Van Quyet was a

  • AirAsia X takes flight to Tokyo Haneda

    AirAsia X takes flight to Tokyo Haneda

    AirAsia X (AAX) resumed its flight to Tokyo (Haneda) following the full reopening of the country’s border for international tourism.

    The thrice-weekly flights will be the airline’s first flight to Japan post-pandemic, ahead of its second route launch to Sapporo (Shin-Chitose) in December.

    In commemorating the service resumption, AAX celebrated the flight with a send-off ceremony at Kuala Lumpur International Airport (klia2) with fun activities and giveaways for the guests.

    Benyamin Ismail, CEO of AirAsia X said: “Japan is a core destination, and we are thrilled to return to Tokyo as it has always been one of our most popular routes. In 2019, we carried about 275,210 guests to/from Tokyo, and with this service resumption, we look forward to carrying over 230,000 additional visitor seats annually through Malaysia and Japan. This will not only boost tourism and the economy between the two countries but also provide more excellent value for everyone in the region traveling to Tokyo.

    “The resumption of services to Tokyo signifies our commitment to accelerating our growth as a mid-range airline. This is only the first of several routes to Japan that will be in service, including to Sapporo (Shin-Chitose) in December and Osaka next year. Our Malaysian guests love Japan but not only that, we have significant fly-through connectivity via Kuala Lumpur to Japan, including from Australia and more.

    “As demand increases, we will also be adding more flights to Tokyo gradually in the future to meet strong forecast demand.”

    Fares are available for booking for the travel period between now till 30 March 2024.

  • Hoa Phat steel sales fall by 42% in October

    Hoa Phat steel sales fall by 42% in October

    Hoa Phat Group’s sales plummeted by 42% year-on-year in October to 492,000 tons as domestic and global steel demand continued to fall.

    According to monthly data from Vietnam’s largest steel company, this is its lowest sales volume since February 2021.

    Construction steel sales fell by 45% year-on-year to 210,000 tons.

    Hot-rolled coil steel sales however rose 30% to 267,000 tons as the company was able to export large volumes to Indonesia and Malaysia.

    Several media reports have said the company is set to shut down four blast furnaces starting this month as market demand remains sluggish.

    HPG shares have fallen by nearly 30% this year to around VND13,800.

    Analysts at SSI Securities said in a recent note that weakening steel demand would remain a challenge for the company.

  • Gold demand triples in Q3

    Gold demand triples in Q3

    Vietnam’s gold demand more than tripled to 12 tons in the third quarter from 3.3 tons a year earlier. Bullion and coin sales rose to 8.5 tons from 2.4 tons, and jewelry sales to 3.5 tons from 0.9 tons, according to a report by the World Gold Council.

    “Vietnam saw a particularly significant year-on-year rise in demand. It more than tripled as local investors again sought refuge in gold, with high demand for rings and SJC tael bars.”

    The rise in jewelry demand comes amid Vietnam’s particularly robust recovery, with healthy GDP growth, incomes boosted by reversed salary cuts and companies returning to full employment, the report added.

    The price of gold sold at state-owned distributor SJC had fallen to VND65.2 million per tael (37.5 grams) at the end of September but has since risen 3.8% to around VND67.7 million now.

    Global gold demand (excluding over-the-counter trading) in the third quarter rose 28% year-on-year to 1,181 tons.

  • Pergola kits are a rising choice in Asian commerce

    Pergola kits are a rising choice in Asian commerce

    When beautifying our homes, we have many options to choose from. Among the most popular choices for home gardening improvements, though, includes the use of pergolas. When fitted and installed correctly, pergolas can add freshness and charm to our outdoor spaces that we did not previously utilize. Today, you can find many places providing pergolas for sale. Across the Asian retail sphere, there has been a growing interest in using pergolas as the ideal outdoor home decoration.

    This has come for various reasons, but the ease of finding pergolas for sale online has become a common reason. Another reason is that pergolas, once seen as expensive and often unaffordable, are now much cheaper to invest in. Online specialists like Sunset Pergola Kits have become a common choice for Asians looking to buy affordable DIY pergola kits.

    A big reason for the popularity of pergolas is their commonality in the Western world. While Asia has its own cultures and customs, the globalized nature of life today means it is common for nations to borrow from other cultures. Across Asia, this has seen a rise in the number of Western-inspired designs. It is more common today to find pergolas in the gardens and landscapes of many Asian homes purely because they are so commonly found across Western culture.

    Add in the functional nature of a pergola, and it is easy to see why so many Asian shoppers see them as the ideal add-on to their garden space. If you are looking for a way to change your outdoor space this year, then you might wish to consider following this trend and investing in some pergolas.

    Pergola ease of setup helps to fuel interest

    Another reason for this growth is that a pergola can be easily set up. Compared to other outdoor fixtures, it would not take many challenges at all to set up a pergola and see how it looks. This is one of the main reasons pergolas are a big part of the current aesthetic trend across the continent; people like to have easy-to-arrange and manage outdoor furnishings.

    Pergolas are one of the easiest-to-assemble add-ons that one can add to their garden. When set up correctly, a pergola can be the perfect way to help add some functional coverage without having to close off the entire outdoor space.

    In a part of the world where so many of us focus heavily on functionality, something like a pergola can be game-changing. It offers a comfortable aesthetic change without being excessive, and it can easily be fitted into place even by non-professionals.

    For those looking for ways to change their garden and landscape, it might be worth keeping an eye on this trend. Asian retail sectors are seeing increased demand for pergola kits with good reason – this might be the new landscaping trend for the future.

     

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