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Category: Living

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

  • Ikea to open its first shopping mall in India

    Ikea to open its first shopping mall in India

    Ingka Centres, part of Ingka Group, is set to open a mixed-use development in Gurugram, Southwest of New Delhi, marking Ikea’s first shopping mall in the country.

    Construction is set to start early next year, with an investment of US$448 million. The project, with a gross building area of around 130,000sqm, is expected to generate more than 2500 jobs for the community.

    Dubbed ‘Livat’, a Swedish word that means ‘a lively happening’, the mixed-use development will house a mix of hospitality, food, and beverage, ‘edutainment’ learning spaces, alongside a wide retail offer anchored by an Ikea store.

    “We know that when it comes to retail and leisure, change is the only constant,” said Cindy Andersen, MD of Ingka Centres. “This is why our first Livat meeting place in India will be adaptable, with multiple offerings to match consumer lifestyles long into the future.”

    “India is an exciting opportunity for us and our partners to bring new experiences to customers and to develop meeting places that bring value to communities and the planet.

    “We want to create destinations that make it easier for people to live even happier, healthier, and more sustainable lifestyles – this will be our goal at Gurugram.”

    The mall’s concept will be focused on health, sport, nature, and sustainability. It is expected to welcome more than 20 million visitors annually. The company said Livat Gurugram will reflect best practices in energy and water efficiency while delivering a seamless omnichannel experience for customers.

    “Delhi NCR will be one of our biggest and most important markets in India,” said Peter Betzel, CEO, and CSO, Ikea India.

  • Offshore wind power capacity to reach 36 GW by 2045

    Offshore wind power capacity to reach 36 GW by 2045

    Vietnam’s offshore wind power capacity will increase 36 GW by 2045, according to the latest draft of the Power Development Master Plan VIII.

    It will increase to 4 GW by 2030, 10 GW by 2035, 23 GW by 2040. Offshore wind power will account for some 2.6 percent of the total electricity generation capacity in 2030 and 10.8 percent in 2045. Offshore wind power farms will be located mainly in the north and the south of the country.

    In the previous draft of the plan, the Ministry of Industry and Trade had set a target of lifting offshore wind power capacity to 2-3 GW, or 1.5-2 percent of the total, by 2030.

    At a meeting held to discuss the latest draft Friday, Mathias Hollander, senior manager of the Global Wind Energy Council (GWEC), said Vietnam can have an offshore wind power capacity of 5-10 GW by 2030. The country’s offshore wind power generation has an efficiency of over 50 percent, similar to that of hydroelectricity, he noted.

    According to GWEC calculations, Vietnam will have to invest $10-12 billion for the first 4-5 GW of offshore power wind capacity, but the wind is an infinite source, so the country will not have to keep feeding wind power farms as it does with coal or gas-fired plants.

    Meanwhile, the unit cost for 1,000 kWh of electricity generated by an offshore wind power farm is around $83, down from $255 in 2010. It is expected to further drop to $58 by 2025.

    With a coastline of 3,260 km, low sea levels, and high wind speeds (7-10 meters per second at a height of 100 meters), Vietnam is an emerging offshore wind power magnet in Southeast Asia, experts say.

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  • Vietravel invests $25.8 mln in its carrier

    Vietravel invests $25.8 mln in its carrier

    Tourism company Vietravel has decided to invest an additional VND593.5 billion ($25.8 million) in Vietravel Airlines this year.

    The additional capital lifts its total investment in the new carrier to nearly VND1.3 trillion.

    Based at the Phu Bai International Airport in the central province of Thua Thien Hue, Vietravel Airlines was licensed in April 2020 with a charter capital of VND700 billion.

    Early this year, it began operating flights on several domestic routes with three aircraft and is not expected to break even for at least a few years.

    The company’s operations have been hit by the Covid-19 pandemic over the past two years. It resumed business on Oct. 18.

    It has reported losses of VND90 billion in 2020, twice the profits it earned in 2019, but is targeting pre-tax profits of VND10 billion this year.

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  • Vietnam lowers power capacity in latest national plan update

    Vietnam lowers power capacity in latest national plan update

    Vietnam eyes to reduce its planned power capacity by 2030 by over 13 percent to 155,700 megawatts in the latest revision of the national power plan.

    This equates to a drop of nearly VND800 trillion ($34.48 billion) in investment, Deputy Minister of Industry and Trade Dang Hoang An told a meeting Friday, referring to Power Development Plan VIII for the 2021-2030 period with vision to 2045.

    The ministry also lowered the planned capacity for 2045 by 9.7 percent to 333,590 megawatts.

    In the update, the ministry has excluded solar power capacity from the country’s energy backup capability to ensure power security.

    This is because solar power is unstable, and “a cloud passing by could reduce capacity by 40 percent,” An said.

    Without solar power, backup capacity is 43 percent the total, which can ensure system safety.

    Some investors and experts also contributed ideas for power development over the next decade.

    Mathias Hollander, senior manager at Copenhagen Offshore Partners, said Vietnam could develop 5-10 gigawatts of offshore wind power by 2030, creating $60 billion in added value to the economy.

    Strong offshore winds could increase power by 50 percent to the level of hydropower, he added.

  • Tidal launches free music tier

    Tidal launches free music tier

    Tidal announced a few major changes to its music streaming plans in an attempt to attract more customers. The most important part of today’s announcement is the launch of Tidal Free, a new plan that is exclusive to the United States.

    According to Tidal, customers who opt for the free music tier will be able to access its entire music catalog and playlists, “with limited interruptions.” It’s also important to add that streaming quality won’t exceed 160kbps.

    Meanwhile, Tidal’s standard plan is getting a few improvements. For example, for the same $10 monthly fee, subscribers will get lossless and high-resolution audio. Also, the Tidal HiFi plan now offers improved music quality (up to 1411kbps), offline support, as well as access to features like Tidal Connect and My Activity.

    Finally, Tidal introduces a more expensive subscription plan called HiFi Plus, which promises to offer “best-in-class immersive sound formats” such as Dolby Atmos and Sony 360 Audio tracks. For only $20, customers will also have access to Tidal’s MQA (Master Quality Authenticated) recordings.

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  • Opening date released for the world’s largest Ikea in Manila

    Opening date released for the world’s largest Ikea in Manila

    The world’s largest Ikea store, Ikea Pasay City in Manila, is set to open its doors to the public this month after being delayed due to the Covid-19 pandemic.

    Ikea Pasay City also marks the chain’s first location in the Philippines. The 67,760sqm store, scheduled to open on November 25, is located next to the Mall of Asia and spans five stories.

    While two floors are dedicated to retail activities, the remaining floors are for stocks and e-commerce operations.

    The new Ikea store will house more than 8,000 home furnishing and appliance products, together with a restaurant, where customers can find the brand’s famous Swedish meatballs. Ikea Philippines’ online store launched earlier this month for delivery orders after a soft launch in September.

    The launch of Ikea Pasay City was announced in 2018 and due to open last year. However, the construction of the store was interrupted last year due to the Covid-19 pandemic.

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  • Holiday train tickets in low demand

    Holiday train tickets in low demand

    Train ticket demand for the upcoming Lunar New Year Holiday is plunging due to fear of Covid-19 contagion as thousands of new cases nationwide are confirmed each day.

    Saigon Railway Station in HCMC opened its ticket sales for Tet 2022, the biggest annual holiday which falls in early February, but its nine counters were seen with few inquirers.

    Viet Truong, 37, showed up at 7 a.m., anticipating a large number of customers as what happened in previous years.

    “I got the tickets in only 20 minutes, while in previous years I had to wait the whole morning.”

    Tet tickets are being sold for five routes: four North-South routes and one HCMC-Da Nang route, while in previous years there were 20 routes.

    After two hours of opening sales, over 1,500 tickets were sold, which is the lowest in recent years.

    Hundreds of seats were still available as of lunchtime, even though tickets are being sold at a 10-15 percent discount in the first 10 days.

    Vietnam recorded over 8,200 new Covid-19 cases on average in each of the last seven days, with over 1,200 in HCMC alone.

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  • Disney Plus Day brings a special 2$ offer for the first month of subscription

    Disney Plus Day brings a special 2$ offer for the first month of subscription

    Disney Plus first got released in 2019 on November 12th, which Disney refers to as Disney Plus Day. This year, for Disney Plus Day, the entertainment giant is making a special offer for new-to-be and returning subscribers. For their first month of subscription, the fee drops from 8$ to 2$.

    In addition to the 6$ cut for its streaming platform, Disney has some other special perks and offers under its sleeve as well. For example, you can get a five percent discount on Disney Plus products at WizKids and a 10 percent on Funko ones if you use the code DISNEYPLUSDAY.

    What’s more, over 200 AMC movie theaters will have surprise Disney movies playing for only 5$ a ticket between November 12th and 14th. On top of that, you will get a Disney Plus poster and some special concessions.

    On a different note, it seems the house of Mickey is keeping up with the new trends of the digital world. Disney will apparently be releasing NFTs in the form of golden statues of some of its most popular characters.

    Last but not least, Disney Plus Day is a good day to visit one of the famed Disney theme parks like Disney World or Disneyland. Visitors with a subscription can enter the parks 30 minutes earlier than usual, as well as free Disney PhotoPass photo downloads. There will also be new merchandise from Star Wars, Marvel, and Pixar, so parents get their wallets ready. Additionally, some e-books will get discounted to as little as 1$ a piece until November 17th.

    As for the 2$ special offer for your first month of Disney Plus, it will be available from November 12th until the 14th, so make sure you catch it. It’s a great opportunity to see if you would like the shows Disney has to offer if you haven’t jumped on that bandwagon yet. Just remember that after the first month the price jumps back to that monthly 8$ fee.

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  • Netflix games to avoid breaking App Store rules by getting launched individually

    Netflix games to avoid breaking App Store rules by getting launched individually

    After months of testing and controlled releases, Netflix finally released its mobile games library to Android users worldwide on November 2. Unfortunately, the iOS version of the app is yet to receive this new addition of entertainment choice. At the very least, Netflix did let us know that the feature is also coming to iOS.

    In truth, there might be a good reason Netflix games arrived on Android sooner than iOS, and that could very well be the App Store strict rules. With Android, there is a new tab dedicated to the game library. When you choose a game you want to play and tap on it, you are taken to the Play Store to download the app. After a quick sign-in with your Netflix account, you are set to go.

    In the iOS version of the Netflix app, however, likely, we will not see a dedicated game library tab since the App Store rules do not allow it.

    A developer named Steve Moser told Bloomberg that Netflix is planning to release each of its games individually in the App Store. He got to this conclusion after digging inside the Netflix app code. Each title will have to be downloaded separately from the Netflix app. Then, just like with the Android version, you sign in with your account and start playing.

    While this solves the App Store guidelines problem for Netflix, it is not a best-case scenario either. Even though not having a dedicated games tab might seem like a tiny nuisance, it breaks the seamless experience within the ecosystem, which Netflix is trying to build right now. On the other hand, this might not have to continue for too long, as Apple is still getting a lot of pressure regarding the App Store’s guidelines.

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  • Ikea launching online marketplace for second-hand goods

    Ikea launching online marketplace for second-hand goods

    It might not be as good as picking up those meatballs on your way home, but IKEA is launching an online marketplace for Aussies to buy and sell second-hand products.

    The new ‘As-is’ scheme will be piloted, allowing their members to browse second-hand IKEA products online and reserve items they’d like to buy before then heading to the store to collect. It sounds like a real game-changer.

    According to Mellisa Hamilton, IKEA Australia’s Sustainability Manager, the company are aiming to have the marketplace ready early in 2022. It will initially be available only to members but will likely be opened up to everyone else later.

    Hamilton believed that a change in mindset in Aussie consumers was key to any success of the marketplace. “I think people will look at (used) items and (consider) maybe they’re not perfect anymore, but ask are they less valuable? Are they less useful? I think the shift of people understanding, I don’t need new all the time, and there’s nothing wrong with the item …,” she explained.

    “And this is the thing that we’ve also received from our consumer insights is that they feel to make an individual action to support the people and the planet it tends to be more expensive and at a premium,” Hamilton added.

    “But I think in terms of this action or this initiative is actually more looking at why pay full price for something new when I could get something just as functional just as beautiful.

    Maybe it’s not directly out of a box, or maybe it’s barely been used, but you could get it at a cheaper price. So I think if we’re looking at that affordability piece and how we can also impact the planet this is probably a really good action that anybody can take.”

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  • Skype takes the first step toward greatness, new update released

    Skype takes the first step toward greatness, new update released

    Microsoft revealed last month a large plan to rehabilitate Skype and bring it on par with other instant messaging apps. A bunch of new features has been confirmed to be delivered to Skype in the coming months, but no roadmap has been unveiled.

    Today, Microsoft announced a new Skype version is making its way to Android and iOS devices. The update adds several important new features and improvements that many users have been expected for quite a while.

    First off, Skype on the Web can now be used on an Android phone or tablet. Background blur for Skype on the Web video calls is now available for all users, as well as support for audio calls in Mozilla Firefox.

    The camera function on Skype for iOS has been updated to take full advantage of Office Lens. Improvements have been made to the Meet Now flow too, while issues with video rendering on mobile have been fixed.

    The update also adds the ability to pin participants to the active call stage. Last but not least, expect some visual changes meant to modernize Skype’s look. The new features and improvements are rolling out gradually over the next couple of days, so if you don’t see them right away, check again after a while.

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  • Netflix brings its thin mobile games library to all Android users

    Netflix brings its thin mobile games library to all Android users

    Netflix is pretty serious about games and while the company doesn’t have a pedigree when it comes to this part of the entertainment industry, it needs to start somewhere if it wants a seat at the big revenue earners’ table.

    After testing its games service in selected regions, Netflix announced today that its entire catalog of games is now available for all Android users who pay for a Netflix subscription. Although the library is quite thin, we’re promised more titles in the future.

    Starting today, Netflix subscribers can play five mobile games: Stranger Things: 1984, Stranger Things 3: The Game, Shooting Hoops, Card Blast, and Teeter Up. It’s important to mention that these games don’t feature any ads, additional fees and in-app purchases, so all you need is a Netflix subscription.

    Netflix subscribers will see a dedicated games row and games tab on their Android devices where they can select any game to download. These games can be played on multiple devices on the same account. Keep in mind that some games may require an internet connection, but there are some that you can play offline.

  • Siemens Gamesa signs $400 mln wind gear agreement with Vietnam’s BCG Energy

    Siemens Gamesa signs $400 mln wind gear agreement with Vietnam’s BCG Energy

    Siemens Gamesa Renewable Energy has signed a preliminary agreement to supply wind turbine gear worth up to $400 million to Vietnam’s BCG Energy, Vietnam’s government said on Monday.

    The memorandum of understanding is part of the Vietnamese firm’s move to develop wind turbines with a capacity of over 500 megawatts, the Ministry of Industry and Trade said in a statement, adding the deal was signed on the sidelines of the United Nations COP26 summit.

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  • Global hike pushes Vietnam fuel price to 7-year high

    Global hike pushes Vietnam fuel price to 7-year high

    Fuel prices in Vietnam have surged by over 52 percent to a seven-year high, with global rates shooting up as demand rises in economies reopening.

    The government has hiked fuel prices up by 40.23–52.59 percent this year with the latest increase Tuesday bringing the popular fuel RON 95 to VND24,330 ($1.07) per liter, the highest since September 2014.

    Global prices have also been rising. Brent futures rose 0.5 percent, to settle at $86.40 a barrel Tuesday, while U.S. West Texas Intermediate (WTI) crude ended 1.1 percent higher at $84.65.

    Those were the highest closing prices for both global benchmarks since October 2014.

    A global supply shortage and strong demand in the U.S., the world’s biggest consumer, is said to be the reason behind the increase.

    Gasoline and distillate consumption in the U.S. is back in line with five-year averages after more than a year of depressed demand.

    While China’s red-hot power and coal markets have cooled somewhat after government intervention, energy prices remain elevated worldwide as temperatures fall with the onset of the northern winter.

    Since last month, Vietnam has pushed up fuel prices four times, but the combined increase this year is still lower than that of global rates thanks to the fuel price stabilization fund, the Ministry of Industry and Trade and the Ministry of Finance said in a joint statement Tuesday.

    They noted that global rates have increased 59.08–76.03 percent this year.

    However, the price stabilization fund, set up to offset fluctuations in global fuel prices, is seeing shortages.

    As of Tuesday, state-owned fuel distributor Petrolimex had a negative VND262 billion balance in its stabilization fund. At state-owned PVOil, the negative balance was VND697 billion as of Oct. 11.

    By the end of August, 15 of 35 fuel companies in the country reported a combined negative balance of VND1.47 trillion.

    Together with the remaining sum from the other 20 companies, the total balance of the fund stands at VND600 billion now.

    Experts have said further price hikes in the future can deplete the balance. The fund’s balance had fallen to a negative VND620 billion in mid-2019.

    The high fuel prices have raised concerns of rising inflation.

    Ngo Bich Lam, former head of the General Statistics Office, said that a 10 percent increase in fuel prices will lower GDP by around 0.5 percent and pump up the Consumer Price Index (CPI), which measures inflation, by 0.36 percentage points.

    This shows the strong impact of fuel price fluctuations on the economy, he said.

    Some people have mentioned the possibility of lowering fuel tax to offset the increase. Tax and fees account for over 60 percent of fuel prices.

    At VND4,000 per liter or 16.4 percent of the current price, environmental tax is one of the biggest boosters of fuel prices.

    The Ministry of Industry and Trade and the Ministry of Finance are considering lowering fuel taxes, including environmental tax, to keep domestic prices stabile, Le Viet Nga, deputy head of the domestic markets under the trade ministry, had said at a press briefing last month.

    A fuel distributor in Hanoi who did not want to be named said that the government could lower taxes for biofuel E5 RON 92 by VND1,000 per liter from the current VND3,800.

    This 26 percent discount will reduce the impacts of the price hike on businesses and citizens at a time the economy is only beginning to recover, he said, adding that it would also boost consumption of biofuel, which is cheaper than RON 95.

    Vietnam imported $2.93 billion worth of fuel in the first nine months, up 15.3 percent year-on-year, according to Vietnam Customs.

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  • Internal memo reveals Instagram’s concern about losing its teenage users

    Internal memo reveals Instagram’s concern about losing its teenage users

    A year ago, Instagram was so concerned about losing teen users that it decided to spend a huge percentage of its marketing budget to reach teenagers. This report was published in The New York Times and was based on anonymous sources and internal documents. One company memo said, “If we lose the teen foothold in the U.S. we lose the pipeline.”

    Facebook, which bought Instagram for a reported $1 billion back in 2012, garnered some negative media coverage earlier this month when a former product engineer named Frances Haugen leaked documents to The Wall Street Journal. The documents revealed that Facebook’s own researchers discovered that Instagram is “harmful for a sizable percentage” of its young users, specifically teenage girls who can get depressed, anxious, and develop body-image issues from using the app.

    Haugen also testified before Congress and said that the products offered by Facebook “harm children, stoke division and weaken our democracy.” Besides Instagram and Facebook, the latter also owns messaging apps WhatsApp and Facebook Messenger. Instagram has competition in the teen market from Snapchat.

    Facebook says that the media and the public are taking Facebook’s internal research out of context. It says that the report actually showed that teens benefited from using Instagram. The company said that its researchers were told by teenagers that they use the app “when they are struggling with the kinds of hard moments and issues teenagers have always faced.”

    Starting in 2018, most of the spending earmarked for Instagram’s annual worldwide marketing budget was focused on messaging directed at teens. The budget for this year is $390 million. A Facebook spokesman said, “. “While it’s not true that we focus our entire marketing budget towards teens, we’ve said many times that teens are one of our most important communities because they spot and set early trends. It shouldn’t come as a surprise that they are a part of our marketing strategy.”

    The Times was told by marketers that focusing on a specific age group to the extent done by Facebook is not usual. And the newspaper’s report noted that Facebook also focused some of its advertising on parents and young adults.

    In March, it was discovered that Facebook was developing a version of Instagram for those children under 13 who are not allowed on the Instagram site. Instagram Kids wouldn’t be designed like the adult version of the app as it would be free of ads and parents would have control. The 1998 Children’s Online Privacy Protection Act restricts companies from collecting or storing personal data on anyone under 13.

    Last month, half a year after the initial report about Instagram Kids leaked, Instagram announced that it was halting work on the site. Despite pausing the development of the kid-friendly version of Instagram, Facebook still believes that it “is the right thing to do.” Additionally, the company said that it will continue to work on opt-in parental supervision for teens. It also wants the app to flash a “Take a Break” warning to remind users that it is time to move on to something else.

    Instagram Kids would also have allowed parents to limit the amount of time their kids used the app, oversee who they were following on the app, and who was following them.

    An unnamed source told it that Facebook managers explained to workers that it is doing all that it can to prevent underage users to sign up for an Instagram account, but these kids find a way to open such an account anyway. The Instagram Kids platform would have been aimed at children 10 to 12 years of age, would have required parental permission to join, and the app would include only “age-appropriate content and features.”

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