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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.

  • Singapore retail sales collapsed during May due to store closing

    Singapore retail sales collapsed during May due to store closing

    Singapore retail sales plummeted 52.1 percent in May as Covid-19 lockdowns shuttered malls and the majority of retail stores across the city-state.

    May’s year-on-year decline followed a 40.3 percent drop in April and represented the biggest drop since statistics were first collected in 1986.

    After removing motor vehicles from the data, the decline was only a slightly less dramatic 45.2 percent, compared with 32.5 percent in April.

    The closure of stores across the city caused a dramatic rise in online sales which accounted for 24.5 percent of the US$1.29 billion total turnovers.

    According to Statistics Singapore, 94.3 percent of sales of computer and telecommunications equipment in May were conducted online, 93.6 percent of furniture and household goods, and 9.6 percent supermarket sales.

    Every retail category recorded a sales decline except supermarkets, hypermarkets, and convenience stores. Supermarket and hypermarket turnover soared 56.1 percent and convenience stores by 9.1 percent.

    Sales of watches and jewelry, by department stores and apparel, fell by between 89.1 percent and 96.9 percent.

    As with traditional retail, the Circuit Breaker measures introduced to curb the spread of Covid-19 resulted in huge declines in the food & beverage sector as well. A 50.1-per-cent decline in May represented a tiny improvement from April’s 52.7 percent, with vendors able to supply only delivery or takeaway.

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  • Waze has hidden a secret Mood emoticon

    Waze has hidden a secret Mood emoticon

    At the end of last month, we told you about a UI overhaul for mapping app Waze. 30 colorful and funny emoticons have been added to represent your current mood. The app was purchased by Google in June of 2013 for a price believed to be in the range of $1.1 billion to $1.3 billion and it uses crowd-sourced traffic information to get you from point “A” to point “B” safely and on time.

    Some of the possible Mood choices include Funny, Sunny, Zombified, Wild, Chill, Furious, Geeky, Happy, Loved-up, Sneaky, Eco-friendly, Proud, Sad, Skeptical, Shy, Carsick, Zen and Speedy. To change your Mood, open the app, and tap on the Search box at the lower left of the screen. Tap on your name at the top of the screen to be taken to the “My Waze” screen. Click on Mood and select your emoticon.

    That sounds easy enough, but there is a hidden “Monster Mood” emoticon that you can select by tapping in a code. To summon the monster, you need to first make sure that you have updated Waze to the latest version of the iOS or Android app. Open the app and tap on Search. Instead of typing in a destination under your name, type in ##@morph. You will find that a one-eyed purple monster is now your selected emoticon right above your name on the My Waze page. It couldn’t be easier.

    Waze says that it is continuing to work on adding more Mood emoticons. “There is such an expansive world there for us to dig into, with so many unique emotions and feelings that we can represent through the Moods (our first set of 30 is just the beginning). We want to represent all different types of people in all different moments on their journey, and make people smile…even when there might not be much to smile about.”

    Even if you already consider Google Maps or Apple Maps to be your default navigator, why not give Waze a shot. Sure, some of the app’s features have been added to Google Maps, but there are many community-related features that make using Waze a completely different experience. On iOS, install the app by visiting the App Store. If you’re using an Android device, install the app from the Google Play Store.

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  • LinkedIn, Reddit, Google News and other apps caught spying on iPhone users’ clipboards

    LinkedIn, Reddit, Google News and other apps caught spying on iPhone users’ clipboards

    Last month, we told you that a new feature found in the iOS 14 beta detects when a third party app is spying on your iPhone’s clipboard. The latter is the place where data is temporarily stored while being copied from one app to another. Those running the iOS 14 beta preview noticed that they were receiving notifications that apps like TikTok and even AccuWeather were sniffing around an iPhone user’s clipboard and could copy things like PIN numbers, social security numbers and more. Some users received this notification every time they typed a punctuation mark or tapped the space bar on their iPhone’s QWERTY keyboard.

    Last week, Don Morton, a developer using the iOS 14 beta, was seeing a notification that Microsoft’s networking app LinkedIn was copying the content of his clipboard after every keystroke. When ZDNet got in touch with LinkedIn, a spokesperson said that this was all part of a bug. LinkedIn engineering VP Erran Berger said, “We don’t store or transmit the clipboard contents.” TikTok claimed that it appeared as though it was spying on iPhone clipboard data because of an anti-spam “fraud detection mechanism.” The popular short-form video app said that it never copied any content from anyone’s iPhone but it removed the mechanism anyway.

    Morton made a list of apps that iOS 14 is catching red-handed stealing clipboard data. The list includes apps that copied clipboard data after each keystroke and others that copied the data once the app was opened. The former list includes three names: TikTok, LinkedIn, and Reddit. We’ve already mentioned the responses from TikTok and LinkedIn. Reddit said that it is going to disseminate a software update to eliminate code that caused it to copy content from an iPhone user’s clipboard. The software update is expected to be pushed out on July 14th.

    Some password manager apps will automatically clear your clipboard after a certain period of time has passed. The 1Password app has a feature that when toggled on, will automatically clear any field copied from the app to the clipboard in 90 seconds. Some say that they will ask Apple to make access to the clipboard permission that users must agree to give to an app.

    In Morton’s blog post he wrote that this is a real problem. He said, “This is a problem. However, the real problem and thing that scares me is the fact that ANY app has the ability to access the clipboard without permission. I could easily see “phishing apps” starting to pop up (if they are not already) with the sole intention to scrape as much clipboard data as possible. To me, this is just as bad or even more worrying than the companies that have already been called out for it. For the most part, the companies that have been getting called out have a motive to be “good.” I’m just starting to think about companies or apps that have no intention of being good.”

    Once the notifications start appearing for everyone when the final version of iOS 14 drops, we will certainly have a better idea about how widespread this problem is.

  • AS Watson vows to reduce plastic waste, use only sustainable palm oil

    AS Watson vows to reduce plastic waste, use only sustainable palm oil

    AS Watson Group is the first signee to the New Plastics Economy global commitment to reduce plastics waste.

    The firm has also taken up group membership with the Roundtable on Sustainable Palm Oil to help address the environmental impact of the industry.

    Both moves are part of the company’s strategy to achieve its 2030 Group Sustainability Roadmap – better waste management and more responsible Own Brand products.

    “We know our customers are increasingly aware of sustainability issues and therefore expect their chosen brands to share the same values as they do,” said AS Watson COO Malina Ngai, who is also CEO of AS Watson (Asia & Europe). “As the world’s largest international health and beauty retailer, we feel it is our responsibility to do more, so we are making a commitment to create a more sustainable environment and offer more sustainable product choices to our customers.”

    By participating in the initiative to reduce plastics waste, AS Watson will join forces with its business units to eliminate unnecessary plastic and to help reduce plastic pollution at the source. The firm has banned the use of microplastics in its rinse-off Own Brand cosmetics/personal care scrub products since 2014, and has been using 100-per-cent recycled PET in its bottled water business since 2015. It launched Hong Kong’s first reverse vending machine to collect used plastic bottles.

    “AS Watson is proud to enhance public awareness on sustainability issues by supporting two new important environmental initiatives,” said Ngai. “We hope that more retail groups can also make these meaningful pledges so that together we can make our planet more sustainable.”

  • Vietnam’s rapid retail recovery melts Covid virus gloom

    Vietnam’s rapid retail recovery melts Covid virus gloom

    Vietnam retail and service revenues surged by 5.3 percent in June over the same month last year – and by 6.2 percent over May.

    The figures are extraordinary given the advent of the Covid-19 pandemic on retailers and services during the first half of this year, with the country’s stores effectively shut down from late March to late April, and tourists banned from mid-March.

    Year to date, Vietnam retail and service revenues have dropped by just 0.8 percent compared to last year, generating US$103 billion despite the month-long shutdown.

    The figures were released by the General Statistics Office, and show retail revenue reached $18.67 billion last month. Vietnam traditionally releases figures for retail and service revenue within a couple of days of the end of the month covered, faster than most other countries, which tend to take a month or more to calculate the data.

    Sales of consumer goods accounted for 79.6 percent of retail revenue, increasing 3.4 percent year on year. Growth sectors include fresh-food products and home appliances. Sales of apparel and educational products fell by 1.2 percent and 6 percent respectively.

    Vietnam’s retail industry has seen a significant recovery since Covid-19 restrictions were eased in May. Most businesses in the country, except tourism, have resumed and some of them even expanded. Since April’s reopening, Uniqlo has opened three new stores in the country, and fellow Japanese retailer Muji is set to open its first store within weeks.

    One source said that a factor in June’s growth in the absence of tourists is that unlike countries like Thailand, Malaysia and Singapore, tourists to Vietnam don’t purchase a lot of higher-end luxury goods.

    “So the hit to retail from the decline in tourism would be a lot softer.”

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  • Sharp to launch new solar power plant in central Vietnam

    Sharp to launch new solar power plant in central Vietnam

    Japanese electronics giant Sharp Corporation will begin operating a 45 MW solar power plant in the central province of Ninh Thuan in July. The plant is a joint venture between Sharp Energy Solutions Corp., a subsidiary of Sharp Corporation, Vietnam’s T&T Group JSC, and its affiliate Ninh Thuan Energy Industry JSC.

    The new solar plant is expected to generate 76,373 MWh of electricity per year, enough to meet the average annual demand of 40,500 Vietnamese households. It can offset the equivalent of 25,458 tons of carbon dioxide (CO2) emissions a year, Sharp said in a recent statement.

    Japanese news agency Kyodo News quoted a spokesman of the giant as saying that Sharp has been pushing its solar power business in Asia, having built plants in Thailand, Indonesia, and Mongolia, on the back of expected growth in consumption of electricity.

    Solar power currently accounts for 0.01 percent of Vietnam’s total power output, but the government plans to increase the ratio to 3.3 percent by 2030 and 20 percent by 2050.

    Vietnam currently relies largely on hydropower and thermal power for its electricity needs, but its hydropower potential is almost fully exploited and oil and gas reserves are running low.

    Under its energy development plan, Vietnam aims to have renewables, mainly solar and wind, account for 10.7 percent of total energy production by 2030.

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  • 7 Web Design Best Practices to Improve Your eShop

    7 Web Design Best Practices to Improve Your eShop

    In order to have a successful eShop, your website must follow certain best practices that will put you way ahead of your competition and provide your website traffic with better user experience.

    The rule of thirds

    The rule of thirds originates from photography and is a type of composition in which an image is vertically and horizontally evenly divided into thirds. When it comes to website design, the rule of thirds proves to be useful as it allows UX and UI designers to strategically allocate website content to improve conversions.

    This is a commonly used tool that helps by creating balance and a well-structured composition for your website. The rule of thirds allows you to highlight elements and will automatically catch the attention of your consumer if placed in the right sweet spots.

    Human face effect

    Adding a human face to your website is a powerful tool that shouldn’t be underestimated.

    Humans are unconsciously looking for familiarities all the time, and by using the face of a human on your website that your visitors can relate to, you can create an emotional connection with your visitors and exude trust and authority.

    Besides making them trust your service, the emotional connection you leave them with is an effective tool for making your visitors remember you. Humans remember better after an emotional reaction has been created. Nowadays, websites like This Person Does Not Exist allow you to easily find human faces… generated by AI.

    If you can strategically manage to place a face on your website that will trigger emotions or guide their line of sight, that will completely transform your website’s UX.

    Simple navigation

    Creating a website that is simple and easy to navigate should be your top priority.

    It is one of the main factors that will determine whether your visitors have had a good user experience or not. User experience is crucial for your company, and if you intend on attracting traffic and generating sales on your website, you should consider making your website simple to navigate before anything else. That’s where UI (user interface) and visual design are important to make sure that the navigational structure allows the user to find relevant information and content fast.

    It will determine whether or not they will visit your website again.

    Loading times

    Your website loading speed can have a huge impact on the engagement of your visitors and therefore the number of conversions you’ll make.

    If it takes more than 2 seconds for your page to load, it could potentially cost you sales and missed revenue as people would bounce off your page and look for your service elsewhere, reported Akamai back in… 2009. What about now?

    Steps you can take to speed up your loading time could be limiting the use of images, use a content delivery network (CDN), minimise HTTP requests, reduce and combine files, loading JavaScript and CSS files asynchronously, and clean up plugins and files you don’t use.

    Colours & contrasts

    You can use colours and contrasts to fully enhance the visual look of your website, both for to make it more appealing to the eye and keeping your visitors’ interest, but also for the 4% of the population who suffer from colour-blindness.

    Using colours and contrast the right way can help you bring out elements and make the overall navigation of your website easier, which will ultimately improve your website’s UX and conversion rate. It is important to keep it simple and choose colours that complement each other. You wouldn’t want yellow writing on a white background, but choosing a black background with white writing can really help bring out the text.

    Call to action & visual elements

    Call to action buttons on your website are essential elements you’d want to bring onto your design. It provides users with a clear direction of what their next step should be when browsing around your website, and by visualising it (by for example using colour and contrasts) and using strong verbs, it is an effective tool that can lead to great user experience and conversions through easy accessibility.

    It is important to take the placement of the elements into mind as well. You would want to place them in a very prominent and strategic area where your visitor will notice them.

    Responsive design

    Internet users are going to be accessing your website through a wide range of devices including mobile phones, tablets, desktop computers, laptops and other.

    If you want to provide your users with the best shopping experience and maximise your website conversions, you need to make sure that your website has a responsive design and note that Google provides tools for you to check whether your website is mobile-friendly.

    Having a successful website in a competitive and saturated market can prove to be quite difficult. However, making sure that you follow best practices like having a responsive website design and a fast loading website will put you ahead of your competition. This will not only result in a lower bounce rate but will likely increase your website’s UX and conversion rates.

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  • Alibaba Cloud and Unilever to Usher in Next-Generation Digital Marketing Initiatives

    Alibaba Cloud and Unilever to Usher in Next-Generation Digital Marketing Initiatives

    Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group – is partnering with Unilever, one of the biggest multinational consumer goods companies, in a pioneering strategic initiative that will enable Unilever to action on next-generation digital marketing campaigns.

    In the partnership, Unilever will be able to utilize Alibaba Cloud’s trusted artificial intelligence (AI) and cloud-based technologies to optimize its omni-channel, online and offline demand generation activities. With intelligent analysis, Alibaba Cloud’s solutions can help to unlock detailed insights into Unilever’s customers buying patterns and behaviors. The data-driven business intelligence could help Unilever accelerate the creation of new and precisely targeted digital marketing campaigns. It could also enable Unilever to predict more precisely and quickly respond to changing customer buying habits across multiple platforms.

    Taking Unilever’s digital marketing to the next level, Alibaba Cloud’s solution can support optimized brand experience for consumers’ purchasing journey through Unilever’s online stores in Taobao and Tmall. The data intelligence provided by Alibaba Cloud can be easily translated into consumer insight, pivotal in enabling Unilever to expand its current and future product offerings in line with customer needs.

    The insights into anticipated and current customer demand, will also benefit Unilever’s supply chain, as well as optimize its route to market. A range of technologies from Alibaba Cloud underpin the data intelligence analysis, which include machine learning and AI to spot customer and market patterns:

    Dataphin, a unified PaaS platform for intelligent information processing and management; Analytic DB, Online Analytical Processing (OLAP) managed database cloud service that can process enormous amounts of information in realtime; and Quick BI, an intelligent business analysis suite that generate business insights for enterprise users. With the strategic partnership, Alibaba Cloud will empower Unilever to leverage these technologies in the future.

    Fang Jun, VP Data and Digital, Unilever China: “Customer buying patterns are ever changing; when and where they buy has caused marketing to become even more agile and precise in order to stay relevant and reduce marketing waste. The use of Alibaba Cloud’s cutting-edge technology will ensure that our customers enjoy even more value from their relationship with the Unilever brand, through relevant campaigns and activities based on true insights into their buying preference.”

    “In the online, always connected world, getting customers’ attention is an ongoing challenge for marketers, so understanding what their customers want has never been more important. For marketers to keep on top of customers’ ever-changing needs and habits, the ability to understand their shopping habits is essential for keeping the brand messaging relevant for each customer,” said Selina Yuan, president of international business, Alibaba Cloud Intelligence. “Alibaba Cloud’s solutions have the ability to unlock the customer insights needed, and are set to ensure Unilever continues to succeed and build brand loyalty with its customers amid a constantly evolving and complex market place.”

    The Unilever and Alibaba Cloud collaboration was announced at the Alibaba Cloud Global Summit, in which “China Gateway 2.0” was also launched. The program, that Unilever is part of, hopes to help Alibaba Cloud’s partners and customers to accelerate their growth in China by capitalizing Alibaba Cloud’s local business expertise, technologies and matured ecosystem.

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  • Vietjet honoured for “the Operating Lease Deal of the Year”

    Vietjet honoured for “the Operating Lease Deal of the Year”

    New-age carrier Vietjet has been honoured as the winner of “the Operating Lease Deal of the Year” for its 10 Airbus aircraft operating lease in 2019. The title is listed in the Annual Global Awards of the world’s prestigious aviation and aerospace finance industry magazine,Airfinance Journal.

    The deal, which was signed between Vietjet and Novus Aviation Capital in July 2019, covers five aircraft (three A321s and two A321neos) delivered in 2019 while the five remaining aircraft are scheduled for delivery this year.

    The award recognised Vietjet’s benefits from the transaction including the flexibility in financing structure, attractive pricing of the lease, repeat documentation, and aircraft delivery schedule.

    “The award is an acknowledgement of Vietjet’s relentless efforts in aircraft financing activities, which sets a strong base for the airline’s sustainable investment and development of new and modern fleet in the coming years,” said Ho Ngoc Yen Phuong, Vietjet Vice President and CFO.

    Vietjet was also previously listed in the Top 50 airlines for healthy financing and operations for two consecutive years of 2018 and 2019 by Airfinance Journal. It is the only Vietnamese carrier in the list, which showed the airline’s positive finance and growth indicators amongst top airlines worldwide.

    Published for more than 40 years, Airfinance Journal is a leading financial publication in the global aircraft and aviation business, headquartered in London. The Journal includes the latest news, analysis and data relating to the financing of aviation industry globally, covering airlines, airports, banks and financial institutions, leasing companies and others.

    Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website, AirlineRatings.com. The airline has also been named as Best Low-Cost Carrier by renowned organisations such as Skytrax and CAPA in recent years.

  • Cebu Pacific to lay off more employees

    Cebu Pacific to lay off more employees

    Budget carrier Cebu Pacific will be laying off more employees across the board, as the airline industry reels from the effects of the coronavirus pandemic. At least 30% of the 4,000-member workforce, or around 1,200 employees, could be affected by “layoffs or voluntary separation.”

    When asked for confirmation, Cebu Pacific communications director Charo Logarta Lagamon sent a statement confirming what the airline called “rightsizing.”

    “Cebu Pacific is undergoing a transformation process that aims to ensure the long-term sustainability of the business, given the expected changes in travel demand and consumer behavior. We expect travel recovery to happen over a longer period, with COVID-19 negatively impacting the aviation industry,” she said in a statement sent to Rappler.

    “The rightsizing of Cebu Pacific will be necessary to fulfill our commitment to provide affordable and accessible air transport services to every Juan in the years to come.”

    Layoffs will affect employees “across functions, roles, and departments,” Lagamon said. She added that the details have yet to be finalized.

    To stay updated on news, advisories, and explainers, check out our special coverage page, “Novel Coronavirus Outbreak.”

    This is the latest blow to the airline industry as demand for air travel plunged after the coronavirus spread across the world earlier this year, from the ground zero of the outbreak in Wuhan, China.

    Domestic flights in the Philippines resumed only in June when the capital region was placed under modified enhanced community quarantine, but these remained limited. Physical distancing must also be in place during flights, forcing airlines to leave half of the plane seats vacant.

    Back in March, Cebu Pacific laid off 150 newly hired cabin crew when Metro Manila was first placed under lockdown. Cebu Pacific executives had voluntarily taken pay cuts at that time.

    On June 18, the budget carrier’s ground handler 1Aviation Groundhandling Services Corporation announced that over 1,000 employees were laid off.

    Other airlines have been badly hit as well. In late February, flag carrier Philippine Airlines (PAL) terminated some 300 employees to avoid further losses.

    AirAsia Philippines had to slash jobs by 12% too, laying off 260 employees.

    In a bid to help the industry, Philippine aviation authorities deferred charging airport fees for the year, including landing, takeoff, and parking fees.

    The Air Carriers Association of the Philippines estimated that the industry needs some P8.6 billion in government subsidy per month to survive.

  • TAT joins AirAsia to stimulating domestic tourism with new aviation safety standards

    TAT joins AirAsia to stimulating domestic tourism with new aviation safety standards

    The Tourism Authority of Thailand (TAT) joined Thai AirAsia for a special activity taking place on the Bangkok-Krabi route on 29-30 June 2020, aimed at rebuilding confidence and revitalizing domestic tourism. This was done by bringing together medical workers, tourists, business operators, and the media in a trip showcasing the readiness of airline, venues, travel destinations, hotels, and restaurants, to provide safe and hygienic service.

    Governor of TAT, Yuthasak Supasorn, pointed out that domestic travel will be an important mechanism to jumpstart the economy at both the local and national levels, adding that this event will highlight traveling under the new normal, which focuses on adherence to healthcare advice, encouraging travelers and businesses alike to adapt and rehabilitate tourism.

    The TAT’s goal for this activity is supporting domestic tourism and promoting awareness of various safety practices for traveling, visiting sites, and staying in accommodation so that travelers can prepare accordingly.  The authority assures that measures being promoted are straightforward and that everyone will be able to travel conveniently in the new normal.

    Representatives from different sectors were invited to join in the activity, including medical professionals, travel companies and travel groups, all given the opportunity to experience present-day tourism using the concept “BEST, wherein B: Booking – covers before, during and after travel planning, travel companions, pre-booking and social distancing; E: Environment – covers environmental conservation and social responsibility; S: Safety – covers information for decision making as well as health and hygiene and T: Technology – incorporating the use of technology to facilitate contactless tourism and greater physical distancing.

    CEO of Thai AirAsia, Santisuk Klongchaiya remarked that travel and domestic spending in the nation is crucial at this time to stimulate the economy and tourism sector, affirming AirAsia’s support for TAT.

    From July onward, the airline will be resuming service to all 23 of its domestic destinations, including regional connections Chiang Mai-Hat Yai, Chiang Mai-Pattaya (U-Tapao), Hat Yai-Pattaya (U-Tapao) and Khon Kaen-Hat Yai for a total 25 routes, flying 68 return trips a day in support of travel and business.

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  • South Korean retail sales up after Covid-19

    South Korean retail sales up after Covid-19

    South Korean retail sales rose by 2 percent during May, largely due to increased online shopping, according to the new Ministry of Trade figures.

    The year-on-year increase was strongly influenced by purchases of food and sanitary items online due to the effect of social-distancing requirements related to the coronavirus pandemic.

    The ministry polled 26 major retailers in both online and offline categories to collect the data, which showed combined sales of US$9.65 billion last month, an increase of over $9.506 billion during the same period last year.

    Online platforms saw a 13.5-per-cent revenue rise during the period, with online sales of food increasing almost 39 percent, and daily items and furniture going up 22.7 percent. Offline shopping – with the exception of convenience stores – continued to show a decline, with a 6.1-per-cent drop in sales.

    Year-on-year sales figures for last year showed an increase of 4.8 percent over 2018.

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  • Asia-Pacific luxury-goods market tipped to shed 2.1 billion USD this year

    Asia-Pacific luxury-goods market tipped to shed 2.1 billion USD this year

    The Asia-Pacific luxury-goods market is projected to sink by US$2.1 billion this year as pessimistic consumers switch from big-ticket items to the affordable-luxury realm.

    Retail intelligence group GlobalData has forecast luxury sales in the region will decline by 3.4 percent to reach $60.3 billion this year, compared to $62.4 billion last year.

    The industry has been hard hit by the coronavirus pandemic, leading to the closure of numerous luxury stores across Apac. Sagging consumer confidence across the region means luxury retailers are not expected to regain their sales growth anytime soon, according to the GlobalData.

    In addition, the threat of an extended Covid-19 crisis and an impending global recession will force consumers in the region to cut back on big-ticket items, especially luxury products, impacting on the Asia-Pacific luxury-goods market.

    “Covid-19 has forced luxury brands to postpone their fashion shows, cancel promotions events, and disrupted supply chains,” said GlobalData Retail analyst Suresh Sunkara.

    “However, since the start of the second quarter of this year, several countries in the region including China, Japan and South Korea have lifted most of their lockdown measures to bring normalcy in their economies while countries such as India have begun phased relaxation of lockdown measures. This will bring some relief to luxury retailers as they can now open their stores and resume operations.

    “International travel restrictions are still in place, resulting in continued closure of duty-free stores in airports, a major contributing channel for luxury sales. As a result, store closures and sales declines are bound to force luxury retailers to re-evaluate their price positioning and launch affordable luxury product lines to revive volume sales in these testing times.”

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  • Microsoft reportedly not advertising on Facebook any longer but not for the reason you think

    Microsoft reportedly not advertising on Facebook any longer but not for the reason you think

    Microsoft has paused advertising on Facebook and Instagram, per a new Axios report. The outlet claims that US ad spending was suspended in May and Microsoft is now pulling out of marketing with Facebook on a global level. Axios is quick to note that the firm has not formally joined the #StopHateForProfit movement which is encouraging companies to halt spending on Facebook and Instagram to pressure CEO Mark Zuckerberg into taking a firmer stance to filter hate speech. Rather, Microsoft apparently has a problem with where its ads are displayed.

    According to an internal Yammer post, Microsoft CMO Chris Capossela said: Based on concerns we had back in May we suspended all media spending on Facebook/Instagram in the US and we’ve subsequently suspended all spending on Facebook/Instagram worldwide.

    While it’s hard to specifically point out what content the company found objectionable, the transcript refers to terrorist content, hate speech, and pornography.  Although the motive is somewhat similar to that of bigwigs like Coca-Cola, PepsiCo, Viber, and Starbucks, Microsoft has reportedly taken a much softer approach and is in talks with Facebook’s leadership to discuss its concerns and lay down the conditions that must be met in order for it to resume advertising.

    As things stand now, Microsoft expects the ad suspension to last through August.

    Facebook is surely feeling the heat. The company recently announced that it will start labeling posts that go against its rules, even if they are considered newsworthy. Previously, it did not touch posts that came from public figures like President Donald Trump.

    Facebook is financially too strong to be impacted by a boycott in the short term as much of its revenue is generated by small and medium-sized businesses, but its reputation can surely take a hit.

    In the long run, the financial situation could get messy too and the company’s shares have started tumbling already.

    Some brands had already stopped advertising on Facebook because of the pandemic and the new campaign will only make the matters worse. That said, some 8 million entities advertise on Facebook, and provided that ad pricing will likely reduce because of the current situation, other firms will likely step in to fill the gap and this will probably offset the financial loss.

    Some are also of the view that reduction in ad expenditure was already on the cards for many companies because of the pandemic and their support for the #StopHateForProfit campaign might very well be a PR stunt.

    Microsoft, on the other hand, supposedly likes to keep things private, something which Facebook will surely appreciate at a time when others are bailing on it publicly.

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  • Tune Protect launches enhanced AirAsia Travel Protection with Covid-19 coverage

    Tune Protect launches enhanced AirAsia Travel Protection with Covid-19 coverage

    Tune Protect Group Bhd has launched its enhanced AirAsia Travel Protection, which now comes with Covid-19 protection benefits and is available in both Single and Annual Plans for both domestic and international travel, for AirAsia guests.

    In a statement today, Tune Protect said the enhanced Travel Protection is timely with the reopening of domestic travel and the discussion that has been initiated to reopen Malaysia’s borders to “green zones” countries as Malaysia phases into the Recovery Movement Control Order.

    It said the resumption of the travel and tourism sector is in line with the efforts in accelerating the country’s economic recovery and reviving the Malaysian travel and tourism industry, which was at a standstill due to Covid-19.

    “As AirAsia initiates domestic flights with new safety and health procedures, we have also put in place new and enhanced benefits to our existing Travel Protection, which include Covid-19 coverage to ensure ease and peace of mind of our customers during traveling,” said Tune Protect group chief executive officer Khoo Ai Lin.

    The Annual Travel Protection Plan starts at RM56 covering customers for an entire year from the date of activation, regardless of the frequency of travel. Customers can also purchase the Single Plan coverage when they are purchasing AirAsia plane tickets or any time before they fly, it added.

    AirAsia Group Bhd executive chairman Datuk Kamarudin Meranun said that while air travel remains one of the safest modes of travel, there had been an increase in awareness of the importance of travel insurance products in the last few months from the group’s sales channel. This enhancement is a great complement to the various end-to-end safety measures that have been put in place by AirAsia for its passengers to fly again with a peace of mind, protecting them beyond flying.

    “As travel begins to regain traction, we look forward to welcoming our passengers to fly with us again,” he said.

    The enhanced Travel Protection plan includes the Covid-19 Bereavement Allowance, Trip Cancellation, Daily Hospital Allowance and Compassionate Visit.

    “Tune Protect understands the needs and worries of travelers since the fight against Covid-19 is still ongoing. With the enhanced coverage that comes with our Travel Protection, travelers can put their worries to rest when making their travel plans with us or through AirAsia,” Khoo concluded.

    At the midday break, Tune Protect shed 1 sen or 3.03% to 32 sen, for a market capitalization of RM240.56 million.

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