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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.

  • Airasia will soon start selling flight tickets of other airlines

    Airasia will soon start selling flight tickets of other airlines

    AirAsia’s group CEO Tony Fernandes said the Malaysian low-cost carrier’s official website will soon start selling tickets of other airlines, as it looks to generate a new form of revenue. In a Twitter post, Fernandes said that AirAsia.com will be formed as a new company under the open sourcing firm that helps in building software, Red Hat Inc.

    Fernandes is confident that in time, airasia.com will generate as much gross merchandise volume (GMV) from non-AirAsia flight tickets as it does from selling AirAsia flight tickets. As of now, the GMV is $4 billion, he tweeted.

    GMV indicates total sales dollar value for merchandise sold through the ecommerce platform.

    Moreover, in a series of tweets, Fernandes announced that the hotel sales via the website increased 300 percent last week and is going to grow along with activities.

    He added that AirAsia’s loyalty points will help drive more people, because of their database, to the platform, which claims the strongest platform among ASEAN (Association of Southeast Asian Nations).

    “We have a much more powerful database and better knowledge of our customers than OTA,” he said in a tweet.

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  • IOT Asia 2019 : Optimise Business Returns With IOT Applications

    IOT Asia 2019 : Optimise Business Returns With IOT Applications

    Asia’s leading platform for Internet of Things (IoT) returns to drive deeper insights into critical developments in the digital sphere, with new highlights on building value chains for Smart Cities and Industrial IoT. Bringing together a diverse spectrum of participants, IoT Asia 2019 aims to facilitate the application of IoT technologies in business communities. Singapore’s champion for the Smart Nation Initiative Dr. Vivian Balakrishnan, Minister for Foreign Affairs will be in attendance as guest-of-honour to deliver his opening address on 27 March 2019 at 10:30 am.

    Jointly organised by SingEx Exhibitions and the Singapore Industrial Automation Association (SIAA), the 6th edition of IoT Asia 2019 will be held at Hall 1, Singapore EXPO, 27-28 March 2019. It will be co-located with Last Mile Fulfilment Asia 2019, which addresses the agenda of disruptive technologies and their applications in the retail fulfilment and logistics space.

    Riding the wave of IoT transformation

    Set to welcome over 6,000 international attendees, IoT Asia 2019 will showcase more than 100 technology companies, start-ups and emerging IoT players with innovative products and solutions to help businesses improve efficiency and increase bottom-line.

    Furthering the agenda of creating collaborations in the IoT community, SIAA will be signing MOUs with the Singapore-German Chamber of Industry and Commerce (SGC) and the Indonesia IoT Association on March 28 to form strategic alliances that impact innovation adoption. These MOUs will reflect the commitment of the countries in supporting the formation of an IoT-centric ecosystem that taps into the strength of shared networks and expertise.

    “IoT trends and emerging technologies are set to reinvent the landscape by driving digital business innovation for a decade. We recognise that the adoption of IoT presents an

    unparalleled opportunity for us to identify the technologies that will impact businesses in multiple industries. In this context, IoT 2019 plays a key role as an enabler of technology adoption; a matchmaker of quality business leads; and a cultivator of skills development and education,” said Mr. James Boey, Executive Director, Industrial & Urban Solutions, SingEx Exhibitions.

    Mr. Terence Teo, President, Singapore Industrial Automation Association, further commented on the impact of technology innovations: “We are at a higher stage of civilisation where it has been exponentially transformed by accelerated technological development. Undeniably, emerging technologies have helped to grow businesses through greater data- driven insights, and as the industry grows at an unprecedented rate, advanced technologies will be required to make sense of the complex bulk of digital data collected.”

    Discover possibilities on Interchange

    IoT Asia 2019 has evolved into an active ecosystem that connects other business and emerging technology communities for cross-disciplinary collaboration and implementation in multiple industries. Launched at IoT Asia last year, the Interchange team has joined hands with De/Centralize, a Blockchain community, to curate conversations with seasoned technologists that examine the intersection of IoT and DLT (Distributed Ledger Technology).

    Through interesting onsite and digital-streaming formats, Interchange will provide companies with an opportunity to identify the possibilities offered by DLT and blockchain- defined perimeters in their enterprise deployment. To facilitate this engagement and to understand why blockchain is a game changer, Interchange will address the challenges and uncover the potential opportunities for cross-disciplinary collaboration. (For details on the Interchange, please refer to Annex A).

    Trending conference topics

    This year’s conference kicks off with a focus on building value chains with key segments on Artificial Intelligence and Blockchain. IoT 2019 will delve into specific industry sectors such as e-commerce and construction with a focus on key areas of application: 1) Superior infrastructure with enhanced security via Blockchain; 2) Advanced data analytics using Artificial Intelligence 3) Data analytics and 4) Enablers

    The conference programme features a stellar cast of international luminaries such as Saadia MUZAFFAR, Founder, TechGirls and former member of Waterfront Toronto’s Digital Strategy Advisory Panel, Canada; and Martin YATES, Chief Technology Officer, South Asia & Emerging Markets, Dell EMC who will take to the Unplugged Stage for a no-holds barred discussion on the implications of smart cities.

    Tackling the hot topic of IoT security is Prof. YU Chien Siang, Chief Innovation & Trust Officer, Amaris AI; and Oliver Meili, Head of IoT Development & Operations, Bosch Software Innovations, among others, while Anthony Burke, Professor of Architecture & Associate Dean of International & Engagement, Faculty of Design Architecture & Building, University of Technology Sydney, Australia; Joelle Chen, Director, Global Partnerships & Marketing, Intelligent Air Solutions, MANN+HUMMEL Group; and Salim Aslam, IoT Solution Architect, Social Innovation Business, Hitachi Consulting, Singapore will share insights on reimagining and redefining a truly intelligent city.

    AI and cyber terrorism: How to manage risks?

    Navigating the IoT security landscape with new technologies like 5G, blockchain and AI adds to existing challenges faced by governments and industries. We pose questions such as “how will future developments of these technologies take shape”, “what are the key considerations and implications for governments and industries”, and “what are the measures to better address security-breach concerns?”

    Join us for an interactive discussion on “Shake-ups in the emerging IoT security landscape,” on 27 March, 3pm at the Unplugged Stage

    What is the future of the workplace?

    Driven by progress in automation, human jobs will not disappear but rather evolve, renew and become more complex. The labour force will therefore have to acquire new skills. What are the new skills that will be in demand in an AI future? Find out how AI and humans are able to co-exist in the workforce and the types of management frameworks that have to be created to ensure successful collaborations between humans and machines.

    Join our discussion ”Human cognitive capabilities and skills that matter for an AI future

    – Will we have what it takes?” on 27 March, 4pm at the Unplugged Stage.

    Behind the design of Singapore’s first integrated “Smart district” At the forefront of Singapore’s Smart Nation push is the Punggol Digital District (PDD), envisioned to be a vibrant district where cutting-edge technology and social innovation transform the way we work, live, learn and play in the future. The first district in Singapore to adopt an integrated masterplan approach – combining a business park, a university and community facilities – PDD aims to create synergies, enable close integration between industry and academia, as well as foster vibrant and strong communities.

    Housing key growth sectors that abide within IoT such as cyber security, artificial intelligence and data analytics, the district will be an ecosystem of open innovation and a conducive test-bed environment, enabling businesses and the community to thrive in a digital economy.

    To learn more about Singapore’s first Smart district, join us on 27 March, 1:20pm at the Centre Stage. 

    For more information on the conference programmes at IoT Asia 2019 and LMFA 2019, log on to www.internetofthingsasia.com and www.lmfasia.com.

  • Qualtrics Empowers Companies to Take Control of Brand Strategy

    Qualtrics Empowers Companies to Take Control of Brand Strategy

    Qualtrics, the leader in experience management announced the launch of Qualtrics Brand Tracking, a breakthrough brand monitoring solution on the Qualtrics XM PlatformTM that promises to transform how companies manage their brand strategy across their organisation.

    Built on the Qualtrics Experience Management (XM) PlatformTM, Brand Tracking integrates with Qualtrics’ customer, employee, and product experiences to enable a comprehensive view of insights and actions that shape the core experiences of any organisation.

    In today’s fast-moving market, companies are now looking to own their brand tracking programme with insights that are instant, embedded, and adaptable. Qualtrics Brand Tracking arms organisations with the technology necessary to fully leverage one of their most valuable assets – their brand.

    “Over the past year, we’ve been partnering closely with hundreds of brands across the world to help design and run their brand tracking programs on the XM Platform. With built-in expert methodology, guided program set-up, and dashboards on every device, Qualtrics Brand Tracking is now available to empower every organisation from startups to billion dollar enterprises, making tracking and optimising their brand easier than ever,” said Kelly Waldher, vice president of Brand Experience, Qualtrics.

    With Qualtrics Brand Tracking, SoFi – one of the fastest growing financial services companies in the industry – is transforming the way they use brand insights to drive growth in their business. As SoFi continues to grow, the company is able to quickly and easily design their brand tracking programme, constantly monitor key brand indicators, combine response data with social media feedback, and embed prescriptive actions in their business processes.

    • Brand Tracking provides instant results. With Brand Tracking, results are instant through live, automated mobile and web dashboards. Organisations no longer have to wait months for critical insights. With Qualtrics’ pre-built programmes and dashboards, anyone in the organisation can launch a powerful, world-class brand tracker and start seeing results within hours.
    • Brand Tracking empowers companies to connect their entire organisation to one platform with embedded technology.Breakthrough insights are available through embedded technology allowing companies to connect their entire organisation to one platform. From social reputation data, campaign data, media buy data, and other brand-related data subsets, Qualtrics Brand Tracking makes it faster to act on detailed insights that will drive top-line growth.
    • Brand Tracking is adaptable and flexible. Like all projects on XM Platform, Qualtrics Brand Tracking is adaptable to evolving business needs and is easily customisable. Making edits to existing methodology and programmes no longer require expensive change orders. Companies now have the ability to customise studies, across their organisation, with a few clicks.
  • Vietnam Retail Steap Climb in Retail Growth

    Vietnam Retail Steap Climb in Retail Growth

    The Vietnam retail sector is forecast to record double-digit growth from 2019 to 2024, according to a report by ResearchAndMarkets.

    While a number of Vietnamese consumers still choose to shop in traditional markets as they can buy ingredients in smaller portions, supermarkets are offering ready-to-cook packages better suited to the daily needs of the average consumer, says the report. Thus, supermarkets and convenience stores are taking an increasing share of the overall food and grocery market.

    Food products, non-food products, and home appliances are also sold in larger supermarkets, offering more range and convenience for local customers under one roof.

    Modern retail outlets also offer private brands/products that can be exclusively purchased in their stores.

    Some newer stores have in-house bakeries and cafes where consumers can hang out and enjoy with family or friends.

    Growth of convenience

    The growing Vietnamese middle and affluent classes and the younger population increasingly value convenience and comfort. That is driving growth in the convenience store market, met by the expansion of companies such as Circle K, which is now expanding across Hanoi after establishing a strong presence in Ho Chi Minh City, FamilyMart, 7-Eleven and GS25, among others.

    The increasing presence of local players, such as Vinmart+, which has nearly 900 stores nationwide, and test stores trading as Bach Hoa Xanh, operated by Mobile World, are helping expand the Vietnam retail market.

    Traditional food-and-beverage retailers still dominate the sector.

    As of last year, traditional retailers accounted for 94 per cent of the retail grocery sales, and the remaining 6 per cent sales were attributed to modern retail.

    According to industry experts, modern retail sales are expected to reach 18 per cent of total food retail sales by 2024.

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  • Chinese internet giants bidding on AS Watson

    Chinese internet giants bidding on AS Watson

    Two Chinese internet giants are reportedly evaluating separate bids for a stake in global retailer AS Watson.

    As earlier reported by usg, Singapore sovereign wealth fund Temasek is working with an advisor on options for selling part of its stake in the Hong Kong-headquartered company. The latest reports suggest Temasek is looking to sell a 10 per cent holding for around US$3 billion, which would represent a healthy financial gain on its 2014 investment, when it paid $5.6 billion for 25 per cent stake. Tencent Holdings is considering a bid in partnership with some investment funds.

    Tencent’s rival Alibaba Group has already expressed an interest, although again, this has not been formally confirmed by the company. Temasek is declining any public comment on the prospective buyers have been invited to make presentations this month.

    However the news organisation’s sources have cautioned that Temasek may ultimately opt to retain its stakeholding and there are suggestions that “differences in valuation expectations could make reaching a deal difficult”.

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  • Big Big Shop partnering up with Circle K

    Big Big Shop partnering up with Circle K

    Shoppers buying goods online from Television Broadcasts Limited’s Big Big Shop will be able to collect their purchases at any Circle K Convenience store across town.

    The click-and-collect service results from a partnership between TVB and Convenience Retail Asia signed this week. Big Big Shop was launched in July last year.

    “Circle K is a perfect match for Big Big Shop which will provide our customers with a convenient click-and-collect service,” said Mark Lee, group CEO at TVB.

    “Location is everything. Circle K has more than 330 stores conveniently located in Hong Kong.”

    Lee said synergising with TVB’s promotional power, Big Big Shop adopts a ‘show-and-sell strategy’ by marketing advertiser-sponsored products on TVB’s prime-time shows.

    “During the eight months’ operation of Big Big Shop, the show-and-sell strategy has proven to be a success in motivating viewers to buy online, notably in the sales of kitchen appliances by German Pool; quality frozen meat and seafood by Gourmet; package tours by Big Line Holiday; and George Lam concert tickets.

    “With Circle K as our logistics partner, we will be able to greatly expand the range of products available at Big Big Shop by including more vendors who don’t necessarily have the delivery capability. The partnership with Circle K will offer an even better shopping experience to our customers. It marks an important step in our e-commerce fulfillment and development of online-to-offline business strategy,” Lee said.

    CRA CEO Richard Yeung said Circle K is committed to providing convenient, efficient and quality services that enable Hong Kong consumers to enjoy better and easier lives.

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  • Cebu Pacific Set To Accelerate Expansion with Neos

    Cebu Pacific Set To Accelerate Expansion with Neos

    The Philippines’ Cebu Pacific Air plans to add at least 10 new-generation aircraft to its fleet this year, as it steps up its fleet renewal and expansion plans in a bid to accelerate growth. The country’s largest airline expects to take delivery of five A320neos and five A321neos as part of an ongoing strategy to replace aging aircraft, broaden its network, and up-gauge flights at Manila’s congested Ninoy Aquino International Airport.

    In January, Cebu Pacific took delivery of its first A321neo from Airbus as part of a larger order for 32 of the type. Additional plans call for one ATR 72-600 to arrive sometime this year. The airline now operates a fleet of 35 Airbus A320s, seven A321s, eight ATR 72-500s, 12 ATR 72-600s, and eight A330 widebodies.

    In a securities filing on Monday, the airline announced a 50 percent decline in earnings in 2018, citing challenging market conditions such as high fuel prices, increased competition, the six-month closure of Boracay Airport, and operational limitations at key airports. Net profits fell to $73.8 million from 2017’s $149 million while passenger revenue rose 9 percent year-over-year to $1.4 billion; ancillary revenue grew by 6 percent. The airline generated a 19 percent increase in cargo carried, while passenger numbers rose by 3 percent to 20.3 million.

    “Despite the pressures posed in 2018, we remained resilient,” said Cebu Pacific COO Michael Shau. “We were able to expand our network by up-gauging our flights touching congested airports. 2019 will be a different story though; we have already received the first of our fuel-efficient A321neo orders from Airbus and we expect 10 more new-generation aircraft this year. We also just announced four new domestic routes; 2019 is definitely the year we accelerate our growth.”

    While the airline is planning to add more passenger flights out of its Clark and Cebu hubs, it also sees more opportunity in cargo, reflected in plans to convert two of its ATR 72-500s to large-cargo-door freighters. Once it completes the conversion, Cebu Pacific will become the first low-cost carrier in the world to operate freighters of any type. With operations set for the first quarter of this year, the incoming ATRs will allow the airline to serve smaller airports in the Philippines, thereby allowing for new routes and increased connectivity.

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  • Deloitte forecasts forgettable year in Retail

    Deloitte forecasts forgettable year in Retail

    2019 is shaping up to be a ‘gap year’ for Australian retail, according to Deloitte’s latest Retail Forecast for the year ahead. Retail turnover is expected to slip from 2.2 per cent during 2018 to a more modest 1.6 per cent, before lifting back up to 2.2 per cent in 2020, according to Deloitte Access Economics partner David Rumbens.

    “It’s fair to say retailers have only survived the last few years because consumers have lived beyond their means. But that ship has now sailed,” Rumbens said.

    “Labour income growth is good, but not good enough yet to avoid some damage to retail growth in the absence of an excuse to run down savings further. And when overall net wealth is heading downwards, it provides a fairly strong incentive for people to be more prudent with their cash.”

    This isn’t likely to affect every facet of the retail sector equally, with businesses that offer more essential items, such as supermarkets, unlikely to feel the downturn in the same way as those that offer bigger ticket items such as furniture. Retailers that have some flexibility in the stock that they carry, such as department stores, may wish to re-evaluate and refocus on more essential items, as discretionary spend continues to tighten. However, it doesn’t have to be all doom and gloom for retailers, as such a year affords the opportunity to make calculated changes to prepare for a predicted upturn in sales in 2020. One of the key things retailers can do over this ‘gap year’ is to analyse and improve the link they have with their customers, as well as the relationship they have with their employees and supply chains.

    “There has been… an increase in focus on payments to staff and suppliers, are there issues there that retailers need to investigate to put themselves on a more sound footing going forward?” Rumbens said.

    “Retailers should investigate activities which will support the business so that it’s better able to react when sales growth does move back up to a faster pace.”

    One way retailers can offset some of the strain of operating in the Australian retail environment is to utilise a digital international expansion into other markets.

    “With digital commerce, we’ve clearly seen a lot of great overseas presence in Australia, and I think there’s a lot that Australian retailers can explore there,” Rumbens said.

    “You’ve got quite strong economic and consumer spending growth through China, and a significant market in India. These are not activities to be undertaken lightly, but if you consider the 700 million internet users in China… is it time to start considering that market?”

    Rumbens also believes the Federal Government could offer a stimulus to the Australian public, which could provide support for retailers at a time when growth is slow.

    “There is a strong prospect of some government stimulus coming through and supporting the sector mid-year,” he said.

    “It’s likely to happen, but we’ll have a fair idea in the next couple of weeks when the Federal Budget is handed down.”

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  • Metro China For Sale

    Metro China For Sale

    German wholesaler Metro has called for bids for its China operations.

    The firm was reported last September to be considering exiting its Metro China retail business as part of a plan to focus on wholesaling activities worldwide. The sale is partially in response to the emerging strength of e-commerce in China.

    According to industry insiders, Metro is seeking a deal in a deal that would value the business from US$1.5–2 billion, covering 95 stores in the territory as well as real estate assets in several major cities. Some observers have estimated the Metro China business to be worth up to $3 billion.

    Several local retail chains and private equity firms are expected to be among potential bidders, although none of the named firms responded to requests for comment for a report. E-commerce giant Alibaba has previously held talks with Metro over a possible stakeholding in the business and tencent has been linked to a bid.

    First-round bids should emerge next month.

    In related news, the firm announced the opening of a new warehouse in Yangon last week, aiming to serve local professional customers in the fast-growing hospitality and tourism sectors in the region. Metro Myanmar will not run wholesale stores but provide a virtual shopping experience for customers through its e-commerce and delivery systems.

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  • Inbox gets its official shutdown date and Google lies

    Inbox gets its official shutdown date and Google lies

    Google let Inbox users know quite a while ago that it would be shutting down the app in March 2019 and Google has continually promised that users’ favorite Inbox features would be integrated into Gmail before anyone was forced to leave Inbox. Now, Google has put a specific date on the Inbox shutdown despite that promise not having been kept.

    Inbox users have been getting a pop-up notification for a while reminding them that the app is going away and urging users to try out Gmail, but in the past day, that notification has gotten more specific. Now, the notification gives a more accurate timeline with the number of days left before Inbox is shut down and the countdown points to April 1st. Unfortunately, right after that Google straight up lies to Inbox users by claiming that “You can find your favorite Inbox features in the Gmail app.”

    As an avid Inbox user since the app launched, I can say unequivocally that is a lie. Gmail has gotten options to snooze emails, which is probably someone’s favorite Inbox feature, but that’s about it. Gmail still doesn’t have all of Inbox’s bundles (like Trips), it doesn’t highlight actionable items inline (like attachments, places, etc), it doesn’t have an option to save links to Inbox (instead it added Keep and Tasks to Gmail’s sidebar, which isn’t the same, it doesn’t have an option to quickly archive all items in a group (be it a bundle or a group of messages from a specific day), and Gmail also doesn’t have Inbox’s option to pin messages or notes.

    Maybe Google will surprise us and add all of those features in the next two weeks, but given how slowly features from Inbox have been added to Gmail, it seems pretty unlikely. In the meantime, users are being forced to leave Inbox and unless Google surprises us all with a major upgrade to Gmail, it seems poised to have lied about what Inbox users can expect when migrating to Gmail.

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  • 1.4 million super saving Vietjet tickets priced from MYR0 up for grabs for three days!

    1.4 million super saving Vietjet tickets priced from MYR0 up for grabs for three days!

    With the arrival of the vibrant summer season, Vietjet has opened ticket sales on three new domestic routes, including Can Tho – Hai Phong, Can Tho – Vinh and Can Tho – Thanh Hoa which will operate from April 26, 2019.

    Celebrating this special occasion, Vietjet is offering 1.4 million super saving tickets priced only from MYR0 (*) on three golden days from March 20 to March 22, 2019 via the airline’s website. The promotional tickets are available during the golden hours from 1.00pm to 3.00pm, and applicable for all domestic routes in Vietnam. Travel time is from May 21, 2019 to December 31, 2019?

    The Can Tho – Hai Phong route will operate daily return flights; flying time is around 1 hour and 55 minutes per leg. The Can Tho – Vinh route will operate return flights on Monday, Wednesday, Friday, Sunday; flying time is around 1 hour and 50 minutes per leg. Meanwhile the Can Tho – Thanh Hoa route will operate return flights on Tuesday, Thursday, Saturday; flying time is around 1 hour and 55 minutes per leg.

    Subsequently in May 2019, Vietjet will introduce two more new routes from Can Tho to Nha Trang (Khanh Hoa province) and Dalat (Lam Dong province). With the addition of these new routes, Vietjet will have the distinction of being the only airline with the most routes and flights from and to Can Tho – the capital city of the Mekong Delta area.

    With a network comprising 39 domestic routes and 69 international routes, Vietjet operates safe flights with a technical reliability rate of 99.64% — the highest rate in the Asia Pacific region. As a fully-fledged member of International Air Transport Association (IATA), Vietjet has obtained the IATA Operational Safety Audit (IOSA) certificate and has been awarded a 7-star ranking, the world’s highest rate for safety, by AirlineRatings.

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  • Cebu Pacific income down 50.6% in 2018

    Cebu Pacific income down 50.6% in 2018

    The operator of budget carrier Cebu Pacific saw earnings dip by 50.6 percent last year amid challenges such as the closure of a popular tourist destination, rising fuel prices and increased competition.

    In a statement, Gokongwei-owned Cebu Air Inc. said profits fell to P3.9 billion from P7.9 billion a year earlier even as revenues climbed 9 percent to P74.1 billion from P68.03 billion.

    Passenger revenues, in particular, hit P54.3 billion, 9 percent higher than the P49.93 billion recorded in 2017. The listed airline carried 20.3 million passengers last year, up 3 percent from 2017’s 19.7 million.

    The cargo business also witnessed double-digit growth at 19 percent, the firm said.

    “The growth in CEB’s (Cebu Air’s stock symbol) 2018 business came amidst a challenging environment with high fuel prices, a volatile Philippine peso, rising interest rates, increased competition, the six-month closure of Boracay, and operational limitations in the country’s key airports,” the firm said.

    Michael Ivan Shau, Cebu Pacific chief operations officer, said the carrier expected to bounce back due to fleet and network expansions.

    “2019 is definitely the year we accelerate our growth,” Shau said in a statement.

  • Data-sharing Algorithm launched for Indian rural store owners

    Data-sharing Algorithm launched for Indian rural store owners

    Data platform Next Billion is collaborating with data exchange service Ocean Protocol to pilot a new data-sharing model that gives Indian rural store owners an extra income stream.

    Next Billion, which creates insights to enable companies to expand in high-growth emerging markets, provides free point-of-sale platforms to rural store owners to record real-time inventory and sales data. It is building a data marketplace and piloting a new data sharing model based on Ocean Protocol, the first general platform for borderless data sharing that marries blockchain, data and AI.

    Through the pilot, Indian rural store owners will capture real-time transactions via the POS platform and are incentivised to consistently use this platform to submit verified data. When companies buy their syndicated data, transactions can be traced back to the source via Ocean Protocol, enabling Next Billion to reward these rural store owners with royalties.

    “We believe global companies’ needs for commercial data can unlock sustainable and inclusive business models that empower local data providers to share fair value from their data,” said Next Billion MD Oliver Gilbert. “Ocean Protocol enables Next Billion to monetise data and share it with companies in a safe and secure manner.”

    Despite the lack of digitisation in retail practice in rural Asia, sales are climbing. Driven by the rise of the middle class, the consumption of fast moving consumer goods (FMCG) in rural areas is growing across Asia. From 2009 to 2012, spending by India’s 800+ million rural residents reached $69 billion, some 25 per cent more than their urban counterparts over the same period.

    According to recent estimates, consumption in rural areas is growing at 1.5 times the rate in urban areas. The current $12 billion consumer goods market in rural India is expected to reach $100 billion by 2025.

    FMCG companies are eyeing this new opportunity and have revved up their distribution channels in rural areas.

    This has been reflected by a significant rise in demand for rural market-research data. However, traditional market-research firms lack rural reach, maintain outdated platforms premised on different environments, and their costs remain prohibitively expensive.

    Ocean Protocol is a blockchain-based platform for the safe sharing of data that enables companies and data services to build on top. Its technology allows organisations to put a value on, own and control their data while addressing many frictions around data sharing today – including privacy concerns, trust, and auditability. Ocean also allows algorithms and models to come to the data, get trained and then leave without exposing the data or taking a copy, thereby retaining privacy and freeing up data to advance the economy and society.

    “A lot of data is generated today, yet they are locked up in silos because people are scared of losing control and not getting rewarded. Ocean helps to solve this by giving the tools for people to own and control their data and develop new data-driven business models,” said Ocean Protocol founder Bruce Pon. “Data owners can program the conditions of access which are then executed precisely. In addition, data can be traced back to its source, enabling incentives to be spread across all stakeholders in the data sharing process.”

    “Being incentivised, along with transparency on how data is being used, increases the willingness of people to share data,” Gilbert added. “We hope to provide high quality and agile retail insights at a fraction of what the traditional market research firms would charge while targeting an increase in sustainable livelihoods by 30-50 per cent.”

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  • Asian firms are better prepared than European peers to comply with data-privacy regulations, according to new EIU study

    Asian firms are better prepared than European peers to comply with data-privacy regulations, according to new EIU study

    The collection and use of personal data for commercial purposes are on the rise, but concerns over privacy and cyber-security breaches are causing concern among consumers, companies and regulators alike. The report, The transparent business barometer: Preparing for the end of easy data, written by The Economist Intelligence Unit (EIU) and sponsored by Ant Financial, assesses companies’ level of preparedness to face a more privacy-conscious world. It is largely based on a survey of 250 executives across China, the US, Western Europe and South-east Asia.

    Nearly 100% of respondents agree that data privacy is important to their organisation, with a majority (54%) saying it will be much more so in three years’ time. One reason for this is the perceived importance of data privacy to good corporate governance, which is something that 88% of executives across the surveyed regions and almost all Chinese executives (98%) believe to be true.

    Many firms are waking up to the fact that stricter laws in the mould of the EU’s General Data Protection Regulation may be in the offing. In a barometer constructed for this study, companies were asked to rank their preparedness to face various data-privacy regulations, such as that which might restrict their ability to gather data directly from consumers, on a one-to-ten scale. Overall, they are relatively well prepared, although they are less willing to take different measures, such as changing business models to reduce reliance on consumer data, in response to such regulations. Compared with bullish Americans, executives in Europe are the least prepared to face regulations and least likely to try new approaches in response to them, while the sentiment in China and South-east Asia falls between those two extremes.

    Transparent business barometer aggregate scores, by region

    (Scores out of 10)

      China US Western Europe South-east Asia Total
    Readiness 7.35 8.04 6.69 7.42 7.36
    Likelihood 6.58 7.16 5.67 6.56 6.47
    Overall 7.06 7.71 6.31 7.10 7.02

    Smaller companies are also less ready to face regulations than their larger counterparts, even as some large firms, including tech heavyweights like Apple and Google, are now beginning to call for regulators to create greater clarity—a step that will hopefully lessen uncertainty going forward.

    Michael Gold, editor of the report, says: “Businesses need to be aware that playing fast and loose with consumer data can lead to major repercussions down the road. Smart, well-co-ordinated regulations can make the business world more transparent and trustworthy amid a growing realisation that data is truly the ‘new oil’ in today’s economy.”

    Full report can be downloaded here.

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  • AirAsia to launch Mumbai-Kolkata daily flight from Mid-April

    AirAsia to launch Mumbai-Kolkata daily flight from Mid-April

    Low cost carrier, AirAsia India Friday announced the launch of its flight services to Kolkata from the city next month. This would be airline’s second destination from Mumbai after it started operating daily services to Bengaluru from the country’s financial capital.  AirAsia India will now fly connecting Kolkata and Mumbai, with one daily flight, effective April 15, the airline said in a release Friday.

    The introduction of Mumbai-Kolkata route comes close on the heels of AirAsia India adding eighth additional flights to its network of 19 destinations.

    “We recently introduced the first connection between Bengaluru and Mumbai and are now adding a new connection between Mumbai and Kolkata. It’s a key market for AirAsia and this flight will strengthen our operations in East. This new route is a manifestation of our future growth plan in these key and important business markets, said Sunil Bhaskaran, managing director and chief executive officer, AirAsia India.

    AirAsia India, a joint venture between Tata Sons and Malaysian airlines’ group AirAsia, currently operates to 19 domestic destinations with a fleet of 20 Airbus A320 planes. The group made its first entry in the Mumbai market with the launch of AirAsia Berhad services to here from Kuala Lumpur in May 2010.

    However, in 2012 it withdrew the route citing high airport charges. But came back again with its subsidiary Indonesian AirAsia X in May 2017, which was again discontinued in April last year.

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