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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.

  • Mövenpick Hotels & Resorts Highlights Expansion Plans in Indonesia

    Mövenpick Hotels & Resorts Highlights Expansion Plans in Indonesia

    Mövenpick Hotels & Resorts unveiled its ambitious expansion plans in Indonesia and Southeast Asia at the 2015 Tourism, Hotel Investment & Networking Conference (THINC Indonesia) in Bali on 2-3 September.

    The upscale Swiss hospitality group will make its debut in Indonesia in the third quarter of 2016, with the opening of Mövenpick Resort & Spa Jimbaran, overlooking picturesque Jimbaran Bay in the south of Bali.

    “As the company’s first hotel in Indonesia, this is a perfect place to start,” said Andreas Mattmüller, Chief Operating Officer for Mövenpick Hotels & Resorts in the Middle East and Asia. “Bali is a holidaymaker’s paradise, and the exclusive beach location of this resort with its unrestricted views of the bay is certainly set to be hugely popular.”

    He said the hospitality management group plans further expansion in Indonesia, with ongoing discussions about new partnerships including Jakarta, Surabaya and Bandung. “Indonesia is a key market for our expansion in this exciting region for the hospitality sector,” Mattmüller said.

    Inspired by traditional Balinese design and reflecting the fabled natural wonder of the region, the upcoming Mövenpick Resort & Spa Jimbaran is an idyllic haven of 295 rooms, including six suites, amid meandering pools and lush landscaped gardens.

    With breath-taking sunset views from the rooftop lounge and hotel restaurant, the resort also features a 500-sqm ballroom, custom-designed kids’ club, business centre and meeting rooms, gym, library and spa, along with the Samasta Mall, which consists of a wide collection of boutiques, restaurants, gourmet market and a Mövenpick ice cream parlour.

    Mövenpick Resort & Spa Jimbaran is amongst eight hotels and resorts the group is opening over the next three years in the region, with expansion also in Thailand, Malaysia, the Philippines and Vietnam.

    Thailand is also a major focus, with the recent opening of Mövenpick Hotel Sukhumvit 15 Bangkok, followed in the first quarter of next year by the 264-room Mövenpick Siam Hotel Pattaya positioned for families and business meetings on Jomtien Beach. They add to an existing portfolio of three Mövenpick hotels in Phuket and Koh Samui, for a total of five hotels in Thailand by 2017.

    Further hotels to open across the region are Mövenpick Hotel & Convention Centre Kuala Lumpur and Mövenpick Resort & Spa Kuala Terrengganu in Malaysia; Mövenpick Resort Boracay in the Philippines; Mövenpick Hotel & State Guest House Chifeng, China; and Mövenpick Resort & Spa Quy Nhon, Vietnam.

    The existing eight-property portfolio of Mövenpick Hotels & Resorts in Asia includes four in Thailand and one each in Singapore, Vietnam, China and the Philippines.

    Hosted by HVS and co-hosted by the Ministry of Tourism of Indonesia and the Indonesia Investment Coordinating Board (BKPM), this year’s second edition of THINC Indonesia once again brings together hospitality and tourism industry stakeholders, business leaders and key decision-makers from across 17 nations to explore growth and investment opportunities in the region.

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  • ‘M’ Retaurant groups up the glam factor on the Shanghai Bund

    ‘M’ Retaurant groups up the glam factor on the Shanghai Bund

    ‘M’ Restaurant Group is pleased to announce the launch of Glam, a sophisticated new Shanghai dining lounge & bar at 5 on the Bund – the same address that has been home to Shanghai institution and Bund pioneer, M on the Bund restaurant.  

    ‘M’, spearheaded by Shanghai’s legendary entrepreneur Michelle Garnaut, is famed for setting new standards of dining in Asia. Her restaurant collection began with the opening of M at the Fringe in Hong Kong (1989), from which she went on to pioneer the revival of sophistication in Shanghai with world famous M on the Bund (1999), and then further enhance Shanghai’s glamorous nightlife scene with the launch of The Glamour Bar (2006).  From here, she brought fine dining to the heart of Beijing’s Tian’anmen Square, with the opening of Capital M, (2009).

    “We look forward to bringing renewed life and energy to the heart of The Bund with an intoxicating mix of innovative and contemporary sharing plates (different from M on the Bund), fabulous cocktails, and the most extensive selection of wines by the glass offered in Shanghai.  There’s something for everyone…over 18 years of age. It’s a fun place for grownups!” says Michelle Garnaut.

    The menu, created under the watchful eye of Executive Chef Hamish Pollitt offers a delicious array of modern food designed for sharing, at prices that will have guests coming back often. With each menu, he respects the seasons, highlights local ingredients and introduces something new every month.

    Depending on the size of their appetites, guests are advised to choose one or two items from each of the sections, where favourites include the Veggie Pakoras andSweet Eggplant Pickle (RMB 36), Smoking Salmon and Salmon Caviar (RMB 48), Chili Salt-Crusted Bean Curd & Black Beans (RMB 38), Thai Tah Tah (RMB 68), 18-hour Lamb Shoulder Rogan Josh (RMB 128), and Ginger-Glazed Duck Dome Pie (RMB 108).

    The playful ‘Folly Trolley’ is stacked with a revolving selection of desserts including sweet Verrines (RMB 42) served in M’s beautiful colourful cut glasses, Alfonso’s Exploding Mango Pannacotta, Carmen Miranda’s tres fash Iles Flotante, Josephine Baker’s Chocolat Mousse, and Pavlov’s Dog … in a glass.

    A selection of madly modernistic and dramatically eclectic cocktails are on offer alongside the classics. At the vintage bar experienced mixologists are busy concocting delicious creations, many showcasing Glam Manager David’s crafted bitters, such as Saffron & Spice, Fellini Martini, Evening Thyme, Fire & Ice, or Mrs Peacock’s Folly.

    Guests enter the sensuous space through a glittering crystal waterfall, revealing low tables and dark jewel tone interiors inspired by the feathery tail of a Peacock. Designers Duncan Miller Ullmann (DMU) have ultimately created a warm and alluring interior. A comfortable mix of bespoke furniture and dark mirrored ceilings emphasize a series of works exclusively designed for Glam by famed cinematographer / artist / writer Christopher Doyle. It’s Glam on the Bund!

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  • Parkson’s shares hit 9 ½-year low after sinking into red

    Parkson’s shares hit 9 ½-year low after sinking into red

    Parkson Holdings Bhd’s share price contracted as much as 7.14% to its nine-and-half-year low in the morning trade, making it one of the top losers across the bourse, after the department store operator sank into losses in its latest quarterly results.

    At 2.41pm, Parkson rebounded a little from its intra-day low (RM1.04) to trade at RM1.06, still down six sen or 5.36%, after some 571,800 shares changed hands.

    The current price gives Parkson a market capitalisation of RM1.16 billion.

    In its fourth quarter ended June 30 (4QFY15), Parkson posted a net loss of RM90.95 million or 8.75 sen per share, compared with a net profit of RM26.76 million or 2.56 sen per share last year, largely on weaker retail sentiments.
    This is despite revenue for 4QFY15 rising 5.2% to RM859.04 million, from RM816.51 million last year, mainly due to slightly better figures from China, Vietnam, Myanmar and Indonesia.

    The group’s retailing division registered a weaker set of results for FY15, with revenue increasing only by 4% to RM3.64 billion; while operating profit contracted by 41% to RM190 million, compared with FY14.

    Parkson said its operation in Malaysia saw same-store sales contracting 4.5% for FY15, as consumer sentiments were affected by rising cost of living and the depreciating ringgit.

    For the full year, Parkson’s net profit plunged 69% to RM42.84 million or 4.06 sen per share, against RM138.15 million or 13 sen per share in FY14; while revenue rose 5.4% to RM3.74 billion, against RM3.55 billion last year.

    Despite the lower earnings, Public Investment Bank has upgraded Parkson to ‘outperform’, as it views its weak share price as an opportunity to accumulate, but lowered its target price to RM1.48.

    “We believe the recent slump in share price has deemed Parkson attractive, considering there is still growth in sales and profits going forward, assuming no one-offs incurred,” said the investment bank.

    “We think further weakness in Parkson’s share price is not justified, as the group’s fundamentals remain intact, with more than RM2.7 billion cash and undemanding valuation of 10.6 times and 10 times of financial year 2016 (FY16) and financial year 2017 (FY17) respectively,” it added.

    Additionally, PIVB said the recent announcement of 10 sen per share cash distribution, which will come after its internal reorganisation is completed, is fairly rewarding to shareholders, yielding 8.9% of its current share price

     

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  • Pantaloons to invest Rs 125 cr this fiscal, add up to 35 stores

    Pantaloons to invest Rs 125 cr this fiscal, add up to 35 stores

    Retail chain Pantaloons plans to invest Rs 125 crore this fiscal as it plans to add up to 35 stores across the country.

    In an investor update, Pantaloons Fashion & Retail’s parent company Aditya Birla Nuvo said: “Financial year 2015-16 capex guidance (for Pantaloons) stands at about Rs 125 crore mainly towards launch of new stores.”

    “The company is targeting to launch 30-35 stores during 2015-16 and focus will be on expanding customer reach and portfolio enrichment,” it said.

    Pantaloons, which has over 100 stores across the country, reported net sales of Rs 433.70 crore for the quarter ended June 30, 2015.

    In May, in a major restructuring exercise, Aditya Birla Group announced merger of all its branded apparel businesses into one entity, Aditya Birla Fashion and Retail Ltd.

    Under the scheme of arrangement, the apparel businesses of group holding company Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail would be demerged into listed firm Pantaloons Fashion & Retail Ltd (PFRL).

    Madura owns and retails brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England and People and operates 1,759 stores across the country.

    In 2012, Aditya Birla Nuvo had entered into an agreement with the Future Group to infuse Rs 1,600 crore into Pantaloons and acquire a majority stake in the store chain.

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  • Twitter appoints new boss for Indonesia

    Twitter appoints new boss for Indonesia

    Twitter has appointed Roy Simangunsong as the company’s country business head in Indonesia.

    “It’s my first day at work, so there’s no strategy to apply yet, but what is important for the audiences and advertisers are my confidence in running and developing this company. Because, at the end of the day, Twitter wouldn’t want us to innovate on things that disrupt the users’ experience,” said Roy as quoted by Antara news agency on Tuesday.

    Indonesia has around 80 million Internet users, according to Roy, and around 150 million smartphone subscribers and almost 80 percent of Twitter users worldwide access the application from their mobile phones.

    Prior to Roy, the business head position had been held by Rick Mulia from November 2014. Rick resigned in June, leaving the position vacant for two months.

    Roy was previously the country business head at Yahoo! Indonesia and other multinational companies like Microsoft and IBM. His last position before becoming Twitter Indonesia’s number one person was chief executive officer for Okezone digital media company.

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  • Connell Brothers Awarded Distribution Agreement by Graminex in Australia and New Zealand

    Connell Brothers Awarded Distribution Agreement by Graminex in Australia and New Zealand

    Connell Brothers (CBC), the largest specialty chemicals and ingredients marketer and distributor in Asia-Pacific, announced today that, effective September 1, 2015, it is appointed to manage the sale and distribution of Graminex(R)’s products in Australia and New Zealand, including finished goods and ingredients, such as flower pollen extract, saw palmetto and cranberry.

    The U.S.-based Graminex(R) is the exclusive grower and manufacturer of solvent-free Rye Grass Flower Pollen Extract(TM), and a leader in the international dietary supplement industry. Their products are sold in more than 44 countries on six continents. Graminex’s vertically integrated manufacturing ensures quality, consistency and efficacy of their products. CBC Australasia will represent Graminex(R) Flower Pollen Extract active ingredients, as well as the dietary supplements, primarily focusing on the areas of prostate, immunological and women’s health support.

    “We are pleased with our success promoting Graminex’s products in Taiwan, and look forward to maximizing similar marketing and distribution opportunities Australasia,” said Alex Grantz, regional manager, Food & Nutrition. “Our Food & Nutrition portfolio continues to grow in this region, allowing us to better serve our customers’ needs to differentiate their health and wellness product lines.”

    Cynthia May, CEO of Graminex(R) said, “Connell Brothers has a reputation of unmatched customer service and technical capabilities, including lab testing and product formulation. They have proven an efficient distributor for Graminex Products and I am confident that through their expertise and attention to product safety and quality assurance, they are the right distribution partner for Graminex in Australia and New Zealand.”

    About Connell Brothers

    Founded in 1895, Connell Brothers is a division of Wilbur-Ellis Company and is the largest marketer and distributor of specialty chemicals and ingredients in Asia-Pacific with a keen focus on technical service, customer support, and environmental, health, and safety. Connell Brothers provides complete supply chain management from transportation, documentation, warehousing, and sales and distribution in 17 countries and in 37 offices located throughout Asia-Pacific.

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  • How to achieve the ‘perfect store’ visit every time

    How to achieve the ‘perfect store’ visit every time

    Many consumer goods companies are seeking out the perfect store.

    Those setting themselves up for success are defining the strategic vision for the perfect store at the senior leadership level – defining what it means for the organisation.

    No matter how well you define your vision of the perfect store, you will not realise the worth to the business without flawless execution – from senior management at head office down to the individual reps in store.  You must avoid common pitfalls like misalignment of internal departments and team goals, failure to clarify sales team member roles and who takes responsibility for which tasks.

    Here are some key considerations to help deliver the perfect store visits for your organisation:

    1. Invest in the right processes, tools and technology.

    Make sure you have invested in a technology solution that can generate a continuous flow of real-time, store specific data and close the loop between your head office and your field teams. Make the most of today’s mobile devices and give your reps access to the most up to date insights while out in the field.

    1. Communicate the perfect store vision to your field teams.

    Reps must know what they are aiming for in store and what they will be measured against (KPI’s). Provide specific plans, task lists and objectives by store for merchandising activities as well as getting the perfect order. Motivate and compensate your reps for achieving perfect store status.

    1. Engage and consult the retailer.

    Allow your reps to take a consultative, data driven approach with retailers improving operational efficiency and fostering meaningful relationships with store managers and owners. Part of this means providing reps with the right mobile tools and devices. A visual, fact based pitch will more likely win over a busy store manager resulting in an in store sale or promotion and display activity.

    1. Take measures to improve productivity.

    A more productive field force will unlock opportunities to focus on value adding activities in store and getting to more stores. By reducing driving time, administration and data processing time with route optimisation and better systems and technology in the field your reps can deliver additional results above the productivity gains themselves.

    1. Measure, improve and repeat.

    Implement ongoing checks and balances to evaluate and measure activity. Adjust KPI’s accordingly, make better business decisions, and target high yield territories and stores. And always look to course correct if necessary with visibility generated by a closed loop system.

    Perfect Store visits executed correctly offer more productive field teams, visibility into lost sales opportunities such as OOS & promotional non compliance, and the ability to identify new opportunities with the store manager, take orders and sell more in the store.

    Bring your company’s “perfect store” to life – invest in today’s latest technology and tools, communicate, motivate and compensate your field teams and actively consult to store managers by sharing store specific data. This will result in increased sales – a win for you, your sales teams, the retailer and your end consumer.

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  • aCommerce aims to pocket $30M series B for ecommerce logistics battle

    aCommerce aims to pocket $30M series B for ecommerce logistics battle

    After breaking records for a series A round in Southeast Asia, ecommerce logistics startup aCommerce is gearing up for a new milestone. The targeted deal size for the series B is US$30 million, group CEO Paul Srivorakul tells Tech in Asia.

    “We’re getting good interest from investors due to the strong team, [the] market opportunity, [our] ‘arms dealer’ business model, and the size of the funding round. US$30 million is a big enough size for private equity guys and attractive to a variety of venture capital firms,” Paul says.

    The Thailand-based startup nabbed US$10.7 million for series A followed by a bridge round of US$5 million.

    “Indonesia recently became aCommerce’s biggest regional operation, this month hitting 360 employees,” Paul says. He also hinted at further expansion in the country in the form of warehouses and an office space, depending on client needs.

    Asia Leaders Summit Paul Srivorakul

    Paul Srivorakul (standing up), co-founder and CEO of aCommerce Group and co-founder and executive chairman of Ardent Capital, at the Asia Leaders Summit in 2014

    aCommerce has been able to secure some of Indonesia’s hottest ecommerce brands as clients. Next to MatahariMall, which launched in August, aCommerce is also the fulfillment partner for MAPeMall (the ecommerce arm of Indonesia’s largest retailer, Mitra Adiperkasa), online fashion store Berrybenka, and several other brands like HP and L’Oreal.

    Ecommerce automation

    The startup offers end-to-end services for ecommerce clients. It doesn’t only handle warehousing and fulfillment – if necessary, it can assist the retailer in customer service, marketing, and building custom tech solutions. It comes as ecommerce booms across Southeast Asia. A 2013 study estimated the retail ecommerce market size in the top 6 ASEAN countries to be worth US$7 billion, while online sales still only represent less than one percent of the total retail market.

    Traditional retailers often choose to partner with companies like aCommerce because of complexities they face as they migrate their businesses online. Ecommerce sales opportunities are abundant but tricky, and retailers need to be aware of and manage multiple channels. At the same time, customer expectations are on the rise, creating demand for same-day deliveries and real-time support.

    aCommerce’s software solutions allow it to automate and optimize aspects of these processes. According to Snorre Larstad, who recently joined aCommerce Indonesia as its new CEO, the firm can even help clients make decisions on things like pricing and promotions, and help with fraud detection.

    The service also helps with cash-on-delivery (COD) payments. Though COD carries risk for the retailer and delivery company, Snorre believes it’s necessary to offer COD in Indonesia because buyers don’t trust online payments yet, and credit card penetration is low.

    Snorre Larstadt aCommerce

    Snorre Larstad, aCommerce Indonesia’s recently appointed CEO

    “Latest research shows credit card penetration at 3.2 percent of the 250 million population,” he says. “We expect that offering COD is going to be a precondition for future growth of ecommerce, and thereby our business volume, at least for the next two years.”

    No consolidation in sight

    Being an “arms dealer” in the growing online retail industry holds promise, but also requires patience, since growth is tied to the pace of the industry as a whole. That’s why it’s no surprise aCommerce plans to fill up its own war chest with a new round of funding.

    In the meantime, new startups are emerging to capture their slice of the market, often settling on specific niches and as such being more nimble than end-to-end solutions like aCommerce.

    One of them is Singaporean startup Ninja Van, which specializes in next day deliveries and parcel tracking and is getting ready to enter neighboring markets. It looks like Go-Jek, Indonesia’s Uber for motorbikes, has plans to offer a package delivery service of its own. It is already partnering with online marketplace Tokopedia for deliveries within the Jakarta area.

    Traditional logistics companies are also reacting to the opportunity. SingPost has established its own end-to-end ecommerce services provider, SPecommerce. At this point, it’s probably the only company in the region offering a similarly broad spectrum of ecommerce services as aCommerce.

    The support system for ecommerce is currently undergoing a similar diversification and fragmentation stage as the ecommerce industry itself. That’s normal in a growing industry, says Snorre.

    “With this boom [come] many more startups and a continued fragmented industry where multiple players will seek to position themselves for future growth. […] As the industry is growing and blooming, I don’t expect ecommerce in Indonesia to see significant consolidation or merger-and-acquisition processes over the next one or two years,” he adds.

    The real challenge for the industry may come from an unexpected place: established internet companies.

    “Google and Facebook are entering ecommerce. As such, [they] are likely to be real ecosystem game changers because they are massive in our markets and already control majority shares of the marketing spend and consumer time spent on mobile,” Snorre says.

    aCommerce offers end-to-end e-commerce solutions for startups, retailers, brands, and manufacturers in South East Asia.

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  • UAE retail look to local consumers as Chinese and Russian tourists drop

    UAE retail look to local consumers as Chinese and Russian tourists drop

    Spending by Russian and Chinese tourists traveling to the UAE has declined recently and it is hurting not just the luxury shops in Dubai’s sprawling malls but other businesses as well.

    Nasir Mansoor, who manages vehicle rental service company Fast Rent A Car in Dubai, said that this year has been very challenging for them because the number of customers from the two countries has dropped significantly.

    During the peak period, around seven or ten Fast cars would be taken out for a drive by Russian tourists, while Chinese visitors would fill ten tourist buses a week. These days, the rental company is able to rent out, on average, only one car to a Russian customer, while Chinese tourists have dropped to two busloads a week.

    “The Russian tourists play a vital role in [our] car rental [business]. In the past six months, we have seen a noticeable decline in Russian customers who would benefit mostly from our daily and weekly rental services,” Mansoor told Gulf News.

    “Chinese tourists used to bring in business of up to ten bus tours weekly, while today, that number would approximately stand at around two tour trips,” he added.

    The national currency in Russia has been showing its weakness since last year, losing half of its value against the US dollar. The decline has made traveling abroad more expensive for Russians who earn in roubles. At the same time, the economic slowdown in China, coupled with the recent devaluation of the yuan, is not playing well with outbound tourism.

    According to Network International, overall credit or debit card spending by Russian and Chinese shoppers in the UAE dropped by 30 per cent and 22 per cent, respectively, during Ramadan compared to the same period last year. Jones Lang LaSalle noted in its latest report that retail sales in the UAE have slowed down, particularly in the luxury segment, as tourist spending from Russia has declined.

    More visitors are still traveling to the UAE, but arrivals from Russia and the Commonwealth of Independent States (CIS) has been weak. The number of Russian passengers arriving in Dubai dropped by 31.7 per cent in March, while those entering via Abu Dhabi declined by 10 per cent in June.

    Dubai Airports attributed the downtrend to the “continuing economic and social concerns in the region, with most major cities including Moscow, Kiev and St Petersburg recording fewer passengers.”

    “[This is] due to the factor that the rouble’s value has gone down in Russia and there is an economic downturn in China due to export slowdown,” noted Karan Patel, marketing manager for Middle East at 2GIS UAE, a map service comprising detailed business listings and public transport guide.

    The app developer provides map downloads to visitors in the UAE and used to attract huge customer traffic from Russian and Chinese travelers. Recently, however,  “application downloads” are on a decline, owing to the slump in tourist numbers.

    Russian and Chinese foot traffic is also declining at Shoexpress shops in the UAE. Jithan Harichand, the company’s retail operations manager, said that, given the rising cost of living in the UAE, domestic spending isn’t enough to make up for the drop in tourist spending.

    “The past year has been tough economically across the Middle East, Europe, especially Russia and China, thus tourism [has slowed down]. Tourists tend to spend cash in value retailers, thus with the [downtrend], we are dependent on UAE residents,” said Harichand.

    “[But] with inflation in UAE, residents have limited disposable income to spend locally.”

    Anuraag Sinha, managing director of Liali Jewellery in Dubai, said they used to get a lot of business from Russian tourists,  but with the decline in visitor numbers,  sales at their outlets in premium locations have slowed down.

    “The actual drop in the sales value in our sector is high because the tourists that have replaced some of the Russian and other high-spending tourists are not spending as much as the Russians did,” Sinha said.

    “While our stores in certain five and seven-star locations and resorts have suffered, our overall sales have grown as our main focus has been on brand building.”

     

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  • Store’s e-receipts pay off with cash-saving extras

    Store’s e-receipts pay off with cash-saving extras

    Shinsegae Department Store is set to launch a new smartphone app that offers online and offline shoppers e-receipts with extras.

    While the electronic receipt app avoids the hassle of scraps of paper receipts, it can also provide discount coupons and make it easier for customers to park cars.

    Scheduled to launch on Friday, the retailer said the app will help it engage with customers and potentially learn consumer shopping habits from the digital records, and make exchanges or returns easier.

    Retailers outside of Korea have already adopted e-receipts, but local shops have been slow to utilize the system.

    Global marketing company Epsilon International said the e-receipt is “an innovative communications vehicle for retailers that offer limitless marketing possibilities, providing deeper insight into consumer shopping habits, which can lead to more targeted advertising mailers, promotions and emails.”

    On top of offering e-receipts, the platform will provide information about different sales events and discount coupons, the department store chain said.

    The Shinsegae app will also help the store’s parking service. If a customer registers a car number, they can check the length of time they have spent in the parking lot.

    In the Gangnam and Incheon branch, customers can confirm their parking locations on the app and also get their parking ticket validated for free parking.

    The company said that users are allowed to log in with cell phone numbers instead of having to create IDs and passwords.

    Starting in September, users of the app can also receive a list of bestselling products. In addition to the new features – an upgrade to the old app which gave basic store information – Shinsegae said it will add other services to the platform.

    The retailer also unveiled a pickup service that allows online users to pick up their orders at Shinsegae Department Store.

    The new service is part of “omni-channel retailing” which is used by retail giant Amazon, which is a marketing strategy aimed at bridging the gap between online and offline stores.

    “The boundary between online and offline shopping is getting blurry,” said Hong Jeong-pyo, director at the marketing strategy division at Shinsegae. “Shinsegae launched the services that combine the advantages of online and offline shopping.”

    The release is the latest digital service offered by Shinsegae. The group introduced a new mobile payment system called SSG Pay, where consumers can pay with the app at Shinsegae affiliates, including Shinsegae Department Store and E-Mart, WithMe convenience stores, Starbucks, Premium Outlet and SSG.com.

     

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  • China business confidence soars

    China business confidence soars

    Confidence among executives at China’s largest companies bounced back to a one-year high in August, implying that the fall in July was driven by temporary factors related to stock market volatility.

    According to the latest MNI China Business Sentiment Survey, a gauge of current business sentiment, China business confidence surged back into expansion, rising 17 per cent to 57.1 in August – a big leap from 48.8 in July.

    Discounting last month’s plunge, which looks to have been driven more by animal spirits than a tangible lull in activity, sentiment has been increasing since May alongside the stabilisation in official data, said MNI Indicators in a statement.

    “However, it’s still too early to tell whether the latest improvement will be sustained over the following months or if it was a normal bounce after a very weak outcome in the month before.”

    Firms also revised up their expectations for the future, with the Future Expectations Indicator up 12.6 per cent to 60.9 in August, the highest reading since the same month a year earlier.

    Both Production and New Orders picked up strongly in August following a setback in July, leaving both at the highest so far this year. Companies expected increased activity to continue over the next three months, with the Future Expectations Indicators for both measures regaining the ground lost in the previous month.

    In a further sign of increased demand, both Input Prices and Prices Received rose in August, with the latter jumping just above the 50 breakeven level after 12 months in contraction. The hike in Prices Received is an indication that CPI inflation may continue to push higher over the coming months.

    The sharp devaluation of the yuan following the PBOC’s introduction of new guidelines for the exchange rate fix came just before the survey period ended and will therefore not be fully captured until the September survey. The August survey showed most companies were dissatisfied with the impact of the exchange rate on their business with the Effect of the Yuan Exchange Rate Indicator dipping below 50 for the first time in five months.

    “Last month we noted that the impact of the stock market turmoil on business confidence would be difficult to gauge. For now businesses have shrugged it off, with key activity measures in the August survey increasing sharply and the stimulus policies of the authorities seemingly having a significant positive impact,” said Philip Uglow, chief economist with MNI Indicators.

    MNI China Business Sentiment is a monthly poll of Chinese business executives at companies listed on either the Shanghai or Shenzhen stock exchanges. Companies are a mix of manufacturing and service sector firms.

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  • Chinese shoppers feel safer online

    Consumers across Southeast Asia and Greater China feel safer paying in a brick and mortar environment as opposed to online; sole exception is China

    According to the inaugural MasterCard Safety and Security Index, consumers across Southeast Asia and Greater China cited identity theft and ATM-related fraud as the top two security concerns when it comes to electronic payments.

    Some 42 per cent of consumers in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore Thailand, and Vietnam) were most concerned with ATM-related fraud such as a stolen card, card cloning or skimming. In the Greater China markets (China, Hong Kong and Taiwan), this figure was 31 per cent.

    But the biggest surprise was in confidence in shopping online. The Index showed that in general, consumers across Southeast Asia, and the markets of Taiwan and Hong Kong still feel safer paying in a bricks and mortar environment than buying online. China differed, being the only market where consumers felt paying online was safer than in a physical store; even more so than in Singapore.

    Almost every consumer polled in the Greater China markets had made an online payment in the past year. Consumers in China (62 per cent) particularly favored the use of digital wallets in online electronic payments over those in Hong Kong (14 per cent) and Taiwan (29 per cent).

    Consumers across Southeast Asia (35 per cent) and Greater China (32 per cent) were almost as equally concerned about identity theft in relation to data breaches. This includes personal data such as bank details, personal IDs, addresses, and signatures that are stolen or compromised through websites. In both regions however, it appears that these concerns do not directly stem from consumers’ own personal experiences but rather, as a result of the perceived severity of fraud based on what was reported in the media.

    MasterCard chart1

    Meanwhile, the Index also reinforced that banks continue to play a critical role in ensuring payment safety and security for consumers in Southeast Asia. This is both, because of the high levels of trust consumers place in banks as well as the reliance that consumers have on banks to help them resolve issues that crop up in this area.  Banks are often the first line of defense and recourse for the affected consumer – nearly half of all consumers in Southeast Asia who experienced ATM fraud first approached their card-issuing banks for advice.

    “The fact that most cardholders have a primary relationship with their banks, has an obvious and deep-rooted correlation to their sentiment, around who they trust most when it comes to ensuring the safety and security of electronic payments,” said Ari Sarker, oo-president, Asia/Pacific, with MasterCard.

    “This was emphatically reflected in the feedback from all the markets in Southeast Asia and Greater China. However, in Singapore in particular, in addition to banks, consumers also placed significant trust in the government, which is a natural outcome given the country’s strong regulatory environment and overall reputation around safety and security.”

    None of the respondents surveyed in Southeast Asia placed any trust in local websites, suggesting that there is still a lot of work to be done by local eCommerce merchants to ensure that they meet global security standards for payments and build consumer confidence on this front.

    In Greater China, aside from banks and governments, merchants were also seen to have a growing responsibility in ensuring payment safety and security, with 28 per cent of consumers in these markets going to merchants as their first recourse in seeking resolution for payment safety and security issues. Furthermore, merchants in these markets were instrumental in solving 40 per cent of all online electronic payment disputes.

    These and other key findings of the MasterCard Safety and Security Index will be discussed at the MasterCard Global Risk Leadership conference in Singapore on August 26 – 27. The 20th edition of this conference will gather global payment risk leaders to share best practices in fighting fraud together, as an industry. The conference demonstrates MasterCard’s commitment in helping partners and customers fight fraud using the latest tools, processes, and technologies so there is no one weak link in the payments ecosystem.

    The survey was carried out across in six markets in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) as well as three markets in Greater China (China, Hong Kong, and Taiwan). A total of 6600 consumers and 100 merchants were polled online and face-to-face between January and May 2015 on questions relating to the payments security landscape, payments in brick and mortar and online, safety and security payment concerns and experience with payment fraud, among others.

  • Defining the ‘perfect store’

    Defining the ‘perfect store’

    The ultimate goal of the “perfect store” is to enhance a customer’s shopping experience to maximise your sales opportunities.

    Many consumer goods companies operate on a one “perfect” size fits all principle. But we know treating all stores the same does not work. There are marked differences that exist not only by region, but also by market, channel and retailer.

    A better way to define your “perfect store” is to acknowledge that every store is different and break your business down to the individual store level defining in-store objectives by store.

    Consider factors like:

    1. What is the perfect assortment for this store?
    1. What are the perfect pricing and promotion strategies for this store?
    1. What is the perfect location for your product in this store?
    1. What are the perfect displays for this store?
    1. How to take the perfect order in this store?

    To understand what “perfect” translates to in each case, use information like point of sale, distribution and inventory data to help you define the specific goals around assortment, price and promotion and placement. The use of shopper insight data, consumer demographics and spend data and scan sales data will also help provide a rich understanding of what the perfect store looks like.

    For example:

    Company A has a large seasonal promotion upcoming with major TV and supporting media advertising.

    Company A negotiates with a major grocery chain with tight control over store ranging a certain promotional position and in store plan.

    o Store A has a very high scan sales for this type of product. Perfection in Store A means convincing the store to place two additional touch points through a large secondary floor display along with an upgraded aisle end position, and ensuring the manager has enough additional stock available to refill the display and prevent stock outs.

    o Store B has low scan sales for this type of product. Perfection in Store B means ensuring the upcoming promotion will be implemented correctly, avoiding any downgrading of position or placement Company A also looks for incremental opportunities in other types of retail outlets (independent retail, pharmacy, HORECA, route trade or others).

    o Store C has high sales potential for this type of product (for example based on consumer demographics in surrounding areas), and uses distributors to get products into store. Perfection in Store C is the same as Store A, however securing additional facings on shelf to increase product visibility during and after the promotional period is required. Plus taking a turn in order that is sent back to the retailer’s distributor for fulfilment to avoid stock outs.

    o Store D trades directly with Company A. Perfection in Store D means aligning the store to Company A’s view on the ideal product assortment on shelf and the ideal position, while ensuring that the perfect amount of stock is ordered based on ordering history and upcoming promotion expectations.

    Finally, whose responsibility is it to define the perfect store and set the goals?

    To succeed it must be the senior leadership team. Company leaders need to be engaged at the outset. It is easy to view this as an execution task rather than a strategic one – however it is both. The Perfect store has to be a pillar for your brand(s) and considered one of the company’s strategic goals. Then it can be brought to life through in-store execution.

    Using the right processes, tools and technology will help; so make sure this is part of your discussions. The end goal is well worth it – winning over your competitors, at the shelf, every time.

  • AirAsia bags gold at Putra Brand Awards 2015 for 6th consecutive year

    AirAsia bags gold at Putra Brand Awards 2015 for 6th consecutive year

    AirAsia Bhd emerged the gold recipient for the “Transportation, Travel & Tourism” category for the sixth consecutive year at the Putra Brand Awards 2015.

    The award was given to AirAsia for the airline’s continued presence as the country and the region’s leading and largest low-cost carrier.

    Elated at having bagged the award, chief executive officer Aireen Omar said AirAsia was committed to further grow its route network as the airline moves from being just a low-cost carrier to a value-carrier.

    The Putra Brand Awards was launched in 2010 by the Association of Accredited Advertising Agents Malaysia to recognise brand building as an integral business investment.

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  • JCB and Bank BRI Sign for a New Partnership

    JCB and Bank BRI Sign for a New Partnership

    PT JCB International Indonesia, subsidiary of JCB International Co. Ltd. the international operations arm of JCB Co. Ltd., and PT. Bank Rakyat Indonesia (Persero) Tbk (“BRI”), one of the Indonesia’s largest state owned commercial banks, with specialties in small medium enterprise or small scale & microfinance, are pleased to announce a new partnership for card payment business. This partnership starts from the acceptance of JCB cards at BRI’s acceptance locations, and payment card issuing with JCB brand is also in scope.

    BRI is expanding its consumer business and celebrated the opening of its new branch in Singapore along with the signing ceremony with JCB on 21 August 2015, taking place in front of government official and business owners. Also in attendance were Mr. Asmawi Syam as President Director and Mr A. Toni Soetirto as Managing Director of Bank BRI, as well as Mr. Kimihisa Imada as Deputy President of JCB International Co. Ltd.

    BRI owns a large card acceptance network with over 21,215 ATMs and more than 153,786 EDC terminals (merchants) spread all over Indonesia as of the end of June 2015, and plans to grow a minimum of 85,000 EDC each year. BRI also wants to grow its credit card issuing business a minimum of 25% for issuing model over the 841,000 cards from last year with their unique selling proposition.

    The first phase of the partnership, enabling JCB cards, whose number exceeded 89 million, to be accepted at all of BRI’s 175,001 ATMs and EDC terminals. For ATM acceptance this phase has been in progress since early 2015, while for EDC acceptance, it expected to be launched by the end of this year, followed by phase 2, JCB credit card issuing, which is now being discussed and targeted for 2016.

    Managing Director BRI, A. Toni Soetirto said, “We believe that this partnership would bring a wider network of card acceptance in all of ATMs and EDCs network of Bank BRI throughout Indonesia.”

    Deputy President of JCB International, Kimihisa Imada said, “We are pleased that BRI, as one of the largest commercial banks in Indonesia in term of networks and coverage, has become our partner. This partnership will considerably improve convenience of JCB card usage across Indonesia by adding more than 153,786 acceptance locations. BRI’s broad nationwide network can fulfill the need of local JCB card members who reside in Indonesia as well as those who travel from outside Indonesia, especially in the travel spots and tourist destinations. I am looking forward to extending this partnership to issuing JCB card, whose strength is the quality of service based on the expertise we have gained from experiences providing to customers in Japan for over 50 years. I am sure that the new card product with both reputable brand names will bring new value to the market.”

    About JCB

    JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 29 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 19 countries and territories, with more than 89 million card members. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.

    Note: JCB statistics included in About JCB are as of the end of March 2015. For more information, visit: www.jcbcorporate.com/english

    About Bank Rakyat Indonesia

    Bank Rakyat Indonesia (Bank BRI) was established on December 16, 1895, which marks BRI’s anniversary ever since. Since August 1, 1992, under the Banking Law No. 7 year 1992 and Regulation of the Government of the Republic of Indonesia No. 21 year 1992, Bank BRI’s status has changed into a limited liabilities company. At that time, Bank BRI’s ownership was still in the hand of the Government of the Republic of Indonesia for 100%. In 2003, the Indonesian Government decided to sell 30% of the bank’s shares, marking BRI a public company under the official name of PT. Bank Rakyat Indonesia (Persero) Tbk., which is still used until now.

    Bank BRI is one of Indonesia’s state owned bank with a consistent focus on SMEs business. With more than 10,551 offices including mobile services (e-BUZZ, Teras Keliling and the newly launched Teras Kapal), supported by over 21,215 ATMs and more than 153,786 EDCs (merchant and BRILink), Bank BRI is the largest Bank with the widest network in Indonesia.

    In order to constantly provide the best services to customers and to be the frontrunner in creating financial inclusion by focusing on supporting SMEs business reach all over Indonesia, on 28th April of 2014, Bank BRI signed a contract to purchase and launch a fully owned satellite called BRIsat. Targeted to orbit on 2016, the purchase of BRIsat has made Bank BRI the first and only Bank in the world to own and operate its own satellite.

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