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  • Strategies for Supply Chain Resilience in the Global Permacrisis Era

    Strategies for Supply Chain Resilience in the Global Permacrisis Era

    In recent years, the concept of ‘Permacrisis’—a term denoting prolonged periods of instability and insecurity, sparked by concurrent catastrophic events—has gained prominence. This term not only encapsulated the essence of 2022 but continues to hold relevance in 2024, affecting global supply chains and subsequently, the retail sector. The ongoing challenges underscore the critical need for robust strategies that enhance both supply chain resilience and retail operations.

    Recent disruptions in global trade routes, notably through key passages like the Red Sea, have highlighted the fragile nature of international supply chains. Last year’s statistics revealed that nearly 24,000 vessels navigated the corridor between the Mediterranean and Red Sea, a route integral to facilitating around 12% of global trade. This passage, crucial for the transport of a significant portion of Asia-Europe trade, underscores the global economy’s dependency on secure and efficient supply chain routes. However, a 1.3% decline in global trade between November and December, attributed to militant attacks on merchant vessels in the Red Sea, serves as a stark reminder of the vulnerabilities that global supply chains face. Such incidents spotlight the imperative for supply chain resilience in the face of geopolitical tensions and regional conflicts, directly impacting retail by leading to stock shortages, delayed deliveries, and increased costs.

    Against this backdrop, supply chain directors and retail managers are urged to prioritise strategic considerations and consider the following strategies to shield their operations, employees, and brands from the adverse effects and ramifications of the Permacrisis.

    1. Customer-Centric Commerce

    In the competitive retail environment, the bar for customer expectations is constantly being raised. The advent of new capabilities by one retailer sets a benchmark for others, necessitating quick adaptation to similar consumer experiences. Achieving a cohesive customer journey across online, mobile, and in-store channels is vital. Implementing comprehensive software solutions that offer unified commerce capabilities is essential for providing teams with enhanced visibility into inventory, sales data, and customer preferences. This approach not only enriches the customer and associate experience but also fosters a more agile and responsive retail environment.

    1. Strategic Inventory Optimisation

    The saying “perfect planning prevents poor performance” is particularly relevant in the context of supply chain management. In an era where every channel of sale is a critical touchpoint for brand interaction, leveraging insights to devise robust inventory strategies is crucial. This involves not only aligning inventory with consumer demand across multiple channels but also employing predictive analytics and autonomous optimisation technologies. Such strategies not only aim to maximise profitability but also minimise waste in all its forms—be it time, resources, or environmental impact. The dual benefit of enhancing the bottom line while contributing positively to the planet exemplifies strategic inventory management’s importance.

    1. Consolidation for Effective Execution

    The digital transformation era demands a cohesive approach to technology integration within supply chains. The complexities of today’s digital ecosystem require a unified platform that encompasses all aspects of supply chain management—from distribution and labour to automation, transportation, and yard management. Adopting a cloud-native solution that consolidates these functions ensures that supply chain execution is not only efficient and adaptable but also capable of scaling in response to evolving business needs and challenges.

    Adapt and Innovate

    The dual challenges of technological advancement and global volatility present a complex scenario for supply chain leaders. Today, more than ever, there is a pressing need for leaders to adopt roles akin to futurists and macroeconomic analysts, anticipating trends and preparing for unforeseen challenges. The strategies outlined above—enhancing customer experience through unified commerce, strategic inventory optimisation, and technology consolidation—are critical for embedding agility and resilience into supply chain operations. As businesses navigate the intricacies of geopolitical, technological, and environmental challenges, the ability to adapt and innovate within supply chain management is not just advantageous but essential for sustained efficiency, profitability, and business continuity in the face of the global Permacrisis.

    Written by Richard Wright, Managing Director, SEA, at Manhattan Associates

    For more information on how your retail outlet can adapt to the global permacrisis era, visit the Manhattan Associates Singapore website.

     

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  • Cutting-Edge Marketing Innovations for Modern Retailers

    Cutting-Edge Marketing Innovations for Modern Retailers

    Are traditional retail marketing tactics no longer delivering you results? In an ecommerce shopping environment where consumers dictate how, when and where they buy, outdated promotional activities simply won’t cut it. Brands need to go deeper, connecting personally with buyers and leveraging modern tools and best-of-breed solution partners who can help turn shoppers into buyers.

    The Art of Holding On

    What mantra should brands champion as they step into 2024? Hold onto your customers! But it’s more than just keeping them; it’s about turning them into brand champions. Did you know boosting customer retention by just 5% can spike profits by 25%. The reason? Happy customers buy more.

    Customer retention marketing platforms like Yotpo dive deep into shopper data, providing hyper-personalised experiences. As Rad Mitic from Yotpo explains, loyalty is now about genuine connections, not just points or discounts: “Loyalty isn’t a points game anymore. It has evolved from transactional to emotional. Customers are seeking more than discounts—they crave community, exclusive experiences, and a sense of belonging with the brand. It’s about value beyond price tags,” said Mitic.

    Platforms like Yotpo not only help brands recover otherwise lost sales but also engage new audiences, enriching the brand-customer relationship through personalised, data-driven interactions, all powered by automation. This approach is key in ecommerce, where customers are inundated with choice. Products and services are not just competing on price or quality, but on the depth of their relationships with customers.

    Turning Wishful Thinking into Active Sales

    Spotting what customers want is one thing; influencing them to buy is another. Wishlist marketing is the secret weapon. Shane Lenton of The Wishlist says wishlist marketing gives brands a peek into consumers’ minds. They’re not just sales tactics but tools that make shopping smoother and more insightful for the customer. They redefine online shopping, prioritising trust, and convenience.

    “Wishlist marketing isn’t just another sales incentive program,” Lenton explains, “It’s a convenience for the consumer, a tool to remove friction, ensuring they never miss out on a desired product. Driving loyalty doesn’t always mean pulling traditional levers; it’s about understanding and serving genuine needs.”

    By analysing customers’ wishlists, brands can optimise strategies, engage customers with timely and tailored offers, and make informed decisions about product trends, bundling, and stock notifications. This not only enhances customer engagement but also leads to increased traffic, sales, and organic growth. Turning wishful thinking into active sales and forging lasting loyalty through personalised, relevant interactions – should be a priority for brands today, as should adopting a wishlist marketing approach.

    Harnessing Authentic Voices

    Building a customer base in the digital age relies on trust and authenticity. Enter influencer marketing: genuine stories that make brands feel more human. They weave products into life experiences, making a promotional message feel less like a pitch and more like advice from a friend. The trick? Brands often struggle to find the right influencer fit. With tight budgets, influencer platforms become the bridge, linking brands with authentic voices, ensuring solid ROI.

    As Bianca Robinson from Pattern puts it, modern platforms like Current, which has over 100,000 unique creators endorsing brands across social media platforms, track influencer impact clearly and efficiently, cutting down the traditional hassle: “Influencer marketing platforms like Current alleviate the operational headaches of influencer programs—like contract intricacies, content approvals, and product seeding—by automating these processes and allowing brands to focus on what they do best, producing and delivering exceptional goods and customer experiences that shoppers crave,” said Robinson.

    By combining technological solutions with agency services, influencer platforms help brands dramatically amplify the effectiveness of their marketing campaigns, ensuring their promotional dollars are getting a return at a time where the value of each marketing investment is magnified.

    Evolve to Personalised, Data-driven Strategies

    To succeed in ecommerce brands need to ditch outdated promotional activities and embrace the new—personalised, data-driven strategies. It’s not just about ads or discounts. Brands must harness influencers, dive deep into shopper data, and get smart with the platforms they use, and solutions partners they work with, to form genuine, profitable bonds with customers.For information on how your brand can leverage new technologies and approaches to connect with shoppers, visit: https://au.pattern.com/

    Written by Merline McGregor, General Manager, Pattern Australia

     

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  • SOTI Research Finds 93% of Australian consumers use in-store tech, but 80% express security concerns with personal data

    SOTI Research Finds 93% of Australian consumers use in-store tech, but 80% express security concerns with personal data

    The retail industry is facing a critical juncture where consumers are experiencing a disconnect between their shopping expectations and the in-store reality. As global retail markets continue to evolve, the industry grapples with the challenges of rolling out in-store technology and integrating advanced AI technology while optimising the supply chain and addressing growing security concerns.

    According to SOTI’s new global retail report, Techspectations: Consumer Demand for Digital Transformation in Retail, retailers are grappling with the heightened expectations of consumers anticipating seamless in-store interactions, personalised recommendations and instant access to inventory online and in-store to ensure their continued loyalty.

    Emerging Technologies and the Consumer Experience

    While consumers crave technology to improve their in-store shopping experience, those offered by retailers do not always meet expectations. The study found that while 93% of Australian consumers have used an in-store device, many believe these devices make the shopping experience worse. Consumers cite challenges in-store such as a lack of staff to assist with issues relating to self-serve machines (35% of users) and as many as 38% of users complain about poor Wi-Fi connectivity when using an in-store device.

    The report suggests that consumer expectations have risen, largely due to the sophisticated personalisation and seamless processes available online, which in-store technologies currently fail to match. To address this, retailers must invest in AI-driven solutions and device management to provide consistent, personalised and convenient shopping experiences in both physical stores and online.

    Retail Supply Chains Must Meet Real-Time Demands

    Supply chain optimisation in the retail industry is critical, as consumers now demand real-time information, efficient product availability and rapid delivery in-store and online. The report reveals that 57% of consumers expect to be able to pick up an item ordered online from a physical store on the same day. Further, 77% of consumers expect to always know the status of their orders, highlighting the need for efficient supply chain visibility.

    “Acknowledging the pivotal role of AI in unlocking advanced capabilities in devices is essential. Using AI for predictive diagnostics and proactive support enables retailers to address potential problems before they affect customer interactions,” explained Michael Dyson, VP for Sales, APAC at SOTI. “AI’s ability to combine data such as location, signal quality and speed with vital business metrics, including stock levels and shipment updates, ensures that the convenience and tailored experience offered by online shopping can be mirrored in physical stores.”

    Consumer Trust and Data Vulnerability

    Security is a significant concern in the retail industry. More than three-quarters (80%) of consumers express concerns about entering personal details online or through in-store devices, indicating a pervasive lack of trust in the data collection and payment technologies used in retail. Security concerns extend to fraud, with 42% of Australian consumers worrying about becoming a victim of financial fraud and another 39% expressing concerns about identity fraud.

    Additionally, the report emphasises the importance of in-store device security, as 42% of consumers have concerns that the retailer will not keep their details securely, including the potential exposure of personal details (31%) and the risk of the next user seeing personal information (30%). Despite this, 34% of consumers view in-store devices as tools to enhance shopping convenience and speed, highlighting the need for retailers to balance convenience and security while building trust among those making purchases in the retail space.

    “In the next few years, our priorities should be establishing trust, ensuring data protection and crafting integrated experiences that seamlessly connect digital and physical retail spaces,” said Dyson. “Progress towards digital sophistication in the retail industry has been gradual. Advanced operational intelligence tools like SOTI XSight Live View are pivotal in offering real-time visualisation of retail operations and supply chain. Live View offers immediate detection and reaction to operational challenges by integrating device data and operational data. Retailers need to be aware of how devices are being used and be proactive in resolving any issues. The future of retail is not about rapid adoption of technology; it is equally about strategic planning and enhancing scalability through thoughtful implementation.”

    SOTI’s latest report, Techspectations: Consumer Demand for Digital Transformation in Retail, can be downloaded here.

    Report Methodology

    SOTI’s research was conducted between September 3 and September 14, 2023, via 11,000 self-completed interviews from nine markets around the world. All interviewees were consumers aged 18 to 65. The markets represented were: The U.S. (2,000), Canada (1,000), Mexico (1,000), UK (2,000), Germany (1,000), France (1,000), Sweden (1,000), the Netherlands (1,000) and Australia (1,000). In addition to presenting global, overarching trends, the results were broken down into these individual market tables and regional sets for Europe and North America.

     

     

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  • Amazon Surpasses eBay as Leading Australian Marketplace for First Time

    Amazon Surpasses eBay as Leading Australian Marketplace for First Time

    In an industry first, Amazon has overtaken eBay to become the leading marketplace in Australia according to new research from global ecommerce accelerator, Pattern.

    Marketplace shopping has also become mainstream in Australia, with research highlighting 93% of people shopped on a marketplace in 2023 and 94% plan to buy from platforms like Amazon, Catch, Temu, and eBay over the coming year.

    The findings were revealed as part of Pattern’s sixth annual ‘Marketplace Consumer Trends Report – 2024,’ which researched Australian shoppers’ changing ecommerce habits and the latest marketplace trends.

    Australian marketplace sector experiences major disruption

    The Australian marketplace sector is expanding and being disrupted. Emerging platforms Temu and Shein have rapidly gained significant market share, with 25% of shoppers buying from Temu and 21% from Shein, while established platforms like Catch and eBay underperformed in 2023.

    Amazon has grown to become the dominant local marketplace and is projected to reach $5.5 billion in Australian turnover by the end of the current financial year. Amazon now outperforms all other marketplaces on average monthly site visits, including eBay by a significant 48% over the last three months of 2023, to achieve an average of 75.2 million monthly site visits.

    “New marketplace entrants into Australia, like Temu, are shaking-up the sector and quickly attracting consumer interest. However, it’s expected that Amazon’s leading market position will only grow, as the platform wins shoppers with competitive prices, the widest product range and ease-of-use shopping via Prime,” said Merline McGregor, General Manager, Pattern Australia.

    Amazon is also on track to achieve the highest growth rate of any marketplace in 2024, with 63% of Australians planning on buying from the site (+6% annual growth) compared to a projected 8% decrease in people planning to buy from eBay. Notably, 80% of shoppers who were in the $200k income bracket bought on Amazon, reflecting its strong reach among higher-income consumers.

    Ecommerce shopping habits evolve in the face of cost-of-living challenges

    Despite the increased pressure on Australian consumers’ discretionary spending, research shows that shoppers will continue to buy online. The ecommerce market is projected to reach AU$64.14bn this year, with the share of retail goods purchased online set to increase from 15.6% in 2023 to 17% by the end of 2024.

    Nevertheless, cost-of-living pressures will impact consumer budgets in 2024, with many looking to stabilise their retail spending. This is represented by a significant decline (-29%) in those intending to spend more online this year.

    “With cost-of-living pressures and an uncertain economic outlook, many consumers will cut costs and evolve their shopping habits this year. For instance, shoppers are more likely to take advantage of major sales events, following a 20% growth in consumer participation in Black Friday / Cyber Monday in 2023. Research also shows that shoppers are opting to visit retail stores for a hands-on evaluation of products. This trend suggests a more thorough pre-purchase assessment, evidenced by a notable 36% decrease in consumers intending to buy products online that can typically be found in-store,” observed McGregor.

    The evolution of product discovery

    Google’s product search supremacy is slipping, with a year-on-year decrease in the percentage of people using it to research products. Shoppers are now also going direct to retailers for inspiration (+6%), along with marketplaces, such as Amazon, which has grown by 59% in popularity. However, marketplaces rising as a research tool is not uniform, with eBay dropping by 19%.

    “Marketplaces today have an abundant volume of goods for consumers to search. These platforms build confidence with shoppers to research and purchase new products through enhanced transparency and credibility. This is achieved by providing real-world product reviews and informative answers to product page questions,” said McGregor.

    What products will consumers buy from which marketplace in 2024?

    Pattern’s research asked consumers what they were likely to buy in 2024 and through which marketplace, with the results indicating:

    • Amazon’s key shopper categories are Books & eBooks (26%), Electronics & Computer (24%) and Home & Kitchen (24%).
    • eBay is competitive across a range of categories, including Electronics & Computer (17%), Home & Kitchen (16%) and Clothes, Shoes & Accessories (16%).
    • Catch is popular for Toys, Kids & Baby (12%), Home & Kitchen (10%).
    • Kogan will remain strong in Electronics & Computer (11%), Home & Kitchen (9%).
    • Shein is set to grow through Clothing, Shoes & Accessories (16%).
    • Temu attracts shoppers with Clothing, Shoes & Accessories (10%), Home & Kitchen (7%).
    • My Deal’s sales will come from Home & Kitchen (5%) and DIY Home Improvement (4%).

    “The popularity of key product categories across marketplaces is linked to numerous sellers offering similar items which brings about fierce competition, ongoing promotions, and aggressive pricing. In this dynamic and challenging landscape, brands must implement an effective marketplace strategy and collaborate with the right partners to attract business and thrive,” concluded McGregor.

    For more information and to download the full report please click here: ‘Australian Marketplace Consumer Trends Report – 2024’

    Latest research from Pattern reveals current Australian consumer trends, with 94% of shoppers to buy from a marketplace over the coming year

     

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  • Bitcoin Experiences Second Big Bang

    Bitcoin Experiences Second Big Bang

    The world’s oldest cryptocurrency is moving from the periphery of the financial system to the center of Wall Street after Bitcoin spot ETFs were approved for the U.S. mass market. The door to a new era of digital assets is now open.

    The granting of approval to 11 Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC) – just on (yesterday) Wednesday afternoon local time and therefore at the last minute – marks a historic breakthrough for the cryptocurrency sector. It was long overdue after years of waiting and has finally become reality.

    The SEC decision has far-reaching consequences for the future of Bitcoin and other digital currencies. It is not simply a matter of regulatory approval, it is a recognition that Bitcoin is now a mature asset class, as well as a sign of trust and legitimacy.

    Particularly revealing is the role of Wall Street heavyweights like Blackrock, Fidelity, Invesco and the Swiss crypto pioneer 21Shares. Their involvement has played a crucial role in restoring trust in cryptocurrencies after the scandalous horror year 2022 and cementing their legitimacy as an asset class.

    Their actions also show that cryptocurrencies today are more than just a niche or speculative instrument. They are a growing asset class to be taken seriously with the potential to complement and enrich the global financial system.

    Institutional investors who have been waiting for regulatory clarity and security now have a door to a world that has largely been outside their investment universe. This could trigger a new wave of investment and interest in cryptocurrencies that goes far beyond the current crop of investors.

    The approval is also a significant step towards the development of the infrastructure for the cryptocurrency. This will not only encourage further innovation and investment in this area, but also highlight the need for robust and transparent regulation.

    In a market often beset by speculation and uncertainty, this development provides a certain degree of stability and predictability.

    But its integration into the traditional financial system also brings with it new regulatory challenges and potential risks. The crypto industry must therefore continue working with the regulatory authorities to ensure a balance between innovation and consumer protection.

    Satoshi Nakamoto, Bitcoin’s mysterious creator, laid the foundations for a financial revolution in 2008 with his visionary concept of a cryptocurrency. With spot ETFs approved on Wall Street, Bitcoin is now experiencing its second big bang about 15 years later, although probably not quite as its founder imagined.

    All in all, the SEC’s decision is a new milestone for the crypto world and will usher in a new phase of professionalization and integration into the global financial system.

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  • Global energy drinks market reaches $62.89 billion in FY23

    Global energy drinks market reaches $62.89 billion in FY23

    The global energy drinks market’s value reached $62.89 billion in 2023, posting a 7.5 percent compound annual growth rate (CAGR), with the strategic addition of new flavours emerging as a key trend.

    According to The Business Research Company, the increased demand on emerging distribution channels, notably e-commerce, is driving the growth of the energy drinks market.

    The research firm forecasts that the market, dominated by Red Bull, Monster Beverage Corporation, PepsiCo, and Coca-Cola Company, will further increase to $83.83 billion in 2027 at a sustained CAGR of 7.5 per cent.

    It noted that introducing new flavours is an emerging trend, such as Red Bull’s launching of Coconut Edition Sugar-free energy drinks in 2021, a mix of coconut and B-group vitamins, taurine, and acesulfame-K as a sweetening agent.

    Such innovations, which seek to attract new customers and boost sales, demonstrate the dynamism of the energy drinks industry.

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  • Pattern Releases Powerful New Functionality to Optimise Marketplace Traffic, Drive Sales for Australian Brands

    Pattern Releases Powerful New Functionality to Optimise Marketplace Traffic, Drive Sales for Australian Brands

    Global ecommerce and marketplace accelerator Pattern, has today announced the release of new functionality in its ecommerce acceleration platform in Australia, to help brands organically rank their products in the top positions on leading marketplaces like Amazon, dramatically reducing their reliance on advertising spend.

    Integrated within Pattern’s ecommerce tech suite, Destiny evaluates competition, pinpoints winning keywords, and harnesses AI-driven advertising to divert traffic directly to a brand’s product listings. Brands gain an edge in the digital retail landscape, ensuring their advertising dollars are always invested in growth.

    Dan Richardson, Director of Sales, JPAC for Pattern, commented, “The ecommerce landscape is like a vast digital shelf. Every brand aspires to be at the forefront, especially in the ‘top three listings’ where 60% of all clicks occur and buyer traffic can be concentrated. Destiny is our innovative approach to help brands secure that prime position and drive sales in a crowded and highly competitive online retail environment.”

    Destiny’s power lies in its data-centric approach. The platform has accumulated over 200 trillion data points, taking upwards of 3 million keywords from Amazon. This rich dataset translates into precise predictions about brand performances, solidifying brands’ organic visibility strategies while simultaneously decreasing their dependence on advertising. Intricate algorithms assign ‘winnability scores’ to keywords, ensuring brands know precisely how to position themselves for organic success.

    “In challenging economic times when brands face a higher barrier to sale due to cost-of-living pressures, pumping excessive amounts of advertising dollars into ecommerce and marketplace activity is not sustainable,” explains Richardson. “Destiny allows brands to reduce their reliance on advertising, while still achieving organic visibility. At Pattern, our goal is to help brands use advertising to eventually reduce their dependence on it. It’s all about achieving a balance for sustained success and ensuring that your promotional expenditure actually works for you.”

    Australian brands have an enormous opportunity for growing sales through marketplaces with Pattern’s ‘Marketplace Consumer Trends Report – 2023, revealing that 92% of consumers planned to shop on marketplaces like eBay and Catch in the year ahead and 84% of people expected to spend more or the same on Amazon.

    To help brands standout in a marketplace environment and attract buyer attention, Destiny evaluates over 26 million unique products to create a bespoke competitive landscape. It prioritises sustained organic visibility over sheer spending, intelligently reallocating budgets to guarantee top rankings and drive long-term ecommerce success.

    “Destiny is all about smart targeting. It shifts bids, tests keywords, and intelligently drives traffic, ensuring brands receive the highest possible return on their investment. We’ve witnessed its potential, with some brands experiencing unprecedented ecommerce growth. Now, we’re excited to bring this innovation to Australia.”

    About Pattern Inc

    Pattern is the category leader in global ecommerce and marketplace acceleration. Since 2013, Pattern has profitably grown to more than 1,400 employees operating from 24 global locations – including Melbourne, Sydney and the Gold Coast – to help leading brands achieve accelerated growth on D2C websites and global ecommerce marketplaces. As well as being one of the largest Amazon sellers in the world, we are also present on Tmall, JD.com, eBay and other ecommerce marketplaces. We act as the authorised Amazon seller to more than 200 brands globally, buying their stock to sell on the marketplace and taking care of every aspect of their Amazon presence. For more information, visit https://au.pattern.com/

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  • Poor training makes up to 200,000 IT engineers unemployable

    Poor training makes up to 200,000 IT engineers unemployable

    A gap between IT engineers’ skill levels and market requirements is making 150,000-200,000 of them unemployable every year, a report by IT jobs platform TopDev warns.

    The recently published “Vietnamese IT market report in 2023” on TopDev says most recruiters look for three types of developers: back end, full-stack (who will build the interface), and front end.

    The top five skills that are sought are java script, Java, PHP, C# or .NET, and Python.

    TopDev says by 2025 Vietnam will need close to 700,000 IT engineers. The country has around 530,000 now. The number of new IT graduates is increasing steadily, but do not meet the job market’s demands.

    Of more than 57,000 graduating annually only 30% have the required skills and expertise required by companies, and the rest need additional training by employers for three to six months.

    A long-term supervisor at a company based in the Quang Trung Software City in HCMC said recently that the market has few experienced developers and an excess of “freshers.”

    Between inadequate training in schools and a shortage of experienced people, quality candidates are always scarce and desirable.

    Nguyen Thi Thu Phuong, the Hanoi director of recruitment for Adecco Vietnam, said firms intensified their search for experts in the year’s first half. Vietnam saw a 35% decrease in the number of vacancies in IT jobs in the same period in 2022.

    Despite the economic downturn, the average salary of IT personnel has increased since 2022, albeit marginally, according to TopDev.

    More than 70% of new hires earn US$600-1,000 a month, and the salaries go up to $1,100-1,500 for mid-level jobs and $1,100-2,000 at the top level, with 10% getting around $2,500.

    Information and communication technology is one of the fastest-growing industries in Vietnam. Its revenues have risen from less than $103 billion in 2018 to $136.15 billion in 2021.

    In the 2021 Global Innovation Index, Vietnam ranked 44th out of 132 economies.

    According to Tran Thi Nguyet Oanh, HSBC Vietnam’s head of human resources, plenty of future jobs are linked to IT fields like artificial intelligence (AI) and machine learning, information security and financial technology.

    TopDev recommends that developers should improve their understanding of new technologies such as cybersecurity, DevOps, AI, and machine learning, and cloud computing and soft skills such as critical thinking, communication, time management, and foreign languages.

  • Pattern Helps Brands Gain Marketplace Advantage with New Digital Shelf Tool

    Pattern Helps Brands Gain Marketplace Advantage with New Digital Shelf Tool

    Pattern, the world’s leading ecommerce accelerator, has announced Australian brands now have free access to its new Digital Shelf tool. Pattern’s Digital Shelf tool helps brands take advantage of AI-powered algorithms and extensive data resources to identify their true competitors across Amazon’s virtual shelves.

    “In today’s complex economic environment, brands need a comprehensive understanding of the competition to optimise their marketplace position and drive sales,” said Merline McGregor, General Manager at Pattern.

    “By offering free access to our Digital Shelf tool, brands have an opportunity to increase their virtual shelf space and gain better placement on the Amazon marketplace. Having the right tools and strategy in place for selling on Amazon is becoming increasingly important as the popularity of the platform continues to grow in Australia.”

    Pattern research recently revealed 52% of consumers reported buying from Amazon over the past 12 months and 59% intended to buy from the platform during 2023.

    Pattern’s Digital Shelf is built on a database of 27 trillion historical data points, which grows by a further 5 billion new rows of data each month. This vast data pool offers powerful insights and enables brands to make informed marketplace pricing and listing decisions.

    “Our Digital Shelf tool provides data on over 300 million products, enabling brands to identify and monitor activity of direct competitors in specific product categories on Amazon,” explains McGregor. “Pattern also monitors three million keywords daily, allowing brands to track market trends and consumer behaviour in real-time.”

    By providing free access to a tool that can dissect over 30,000 competitive categories, Pattern’s Digital Shelf aims to democratise marketplace ecommerce insight for brands of all different categories and sizes.

    “On a store shelf, brands can easily see their goods in relation to their competitor’s products. On a marketplace like Amazon, it’s not so clear, as each time a unique search term is entered, the competing product matrix shifts. Leveraging Pattern’s data, brands gain clarity on how their goods are positioned and which products compete with their own for impressions, clicks, and dollars. This information allows brands to develop data-driven strategies to increase product visibility, attract more customers, grow sales and benefit from higher customer reviews,” added McGregor.

    For Australian brands eyeing export markets, Pattern’s Digital Shelf tool monitors pricing on 5,000 websites globally. This comprehensive view empowers local brands to expand into different international markets, diversifying their customer base and maximising their global revenue potential.

    Brands can learn more by accessing Pattern’s Digital Shelf tool.

    About Pattern Inc

    Pattern is the category leader in global ecommerce and marketplace acceleration. Since 2013, Pattern has profitably grown to more than 1,400 employees operating from 24 global locations – including Melbourne, Sydney and the Gold Coast – to help leading brands achieve accelerated growth on D2C websites and global ecommerce marketplaces. As well as being one of the largest Amazon sellers in the world, we are also present on Tmall, JD.com, eBay and other ecommerce marketplaces. We act as the authorised Amazon seller to more than 200 brands globally, buying their stock to sell on the marketplace and taking care of every aspect of their Amazon presence. For more information, visit https://au.pattern.com/

    Media Contact

    Corinne Nolte

    Mulberry Marketing Communications

    cnolte@mulberrymc.com

     

  • Global rice crisis nothing like in 2008

    Global rice crisis nothing like in 2008

    After India banned rice exports, prices of the grain have shot up but are unlikely to top the US$1,000 per ton levels reached in 2008 in the current scenario.

    India prohibited the export of non-Basmati rice varieties in late July, driving up global prices.

    The export prices of Vietnam’s 5% broken rice jumped by $25 per ton.

    In some Vietnamese rice-growing areas, traders have been scrambling to buy the grain to fulfill contracts they have signed, pushing up prices steadily.

    Do Ha Nam, vice president of the Vietnam Food Association, said export prices climbed to $700 per ton on August 10, the highest since 2008.

    On August 17, following reports that India would soon lift the ban, the prices began to edge down again.

    In Vietnam, retail prices jumped by VND3,000-5,000 per kilogram in August to VND18,000-20,000 ($0.76-0.84).

    For many people, the developments are redolent of 2008.

    Vo Tong Xuan, a scientist who created many award-winning rice varieties, said in 2008 export prices reached 100-year highs of more than $1,000 a ton.

    The world faced a food shortage that year.

    The weather was unfavorable, oil prices were high, food reserves were low, and demand was rising in countries such as China and India.

    Xuan said the Vietnamese government at that time ordered exporters not to sign new contracts and capped exports for the year at 4.5 million tons.

    But, worried about the rising prices and low supply, people rushed to buy and hoard rice, but traders refused to sell, waiting for prices to climb further.

    In the event, prices skyrocketed from VND12,000 to VND20,000 per kilogram.

    Xuan said that scenario is unlikely to reoccur even though both times India, which accounts for 40% of the world’s supply, banned rice exports.

    In 2008, global rice reserves fell and demand exceeded supply, he said.

    According to the United Nations Food and Agriculture Organization, Asia’s rice stocks at that time were low, falling from 140 million tons to 60 million tons in 2007 before recovering to 105 million tons a year later.

    At least 37 countries faced a food crisis as prices suddenly increased from $550 to $1,000.

    Xuan said this year global rice stocks have decreased but not significantly.

    India banned exports on July 20, but the latest reports from that country show that rainfall has increased again since the beginning of August and is conducive for sowing the summer-autumn crop.

    Data from the Indian Ministry of Agriculture shows that, as of August 4, 28.3 million hectares had been sown, 3.4% more than a year ago.

    India has 24.6 million tons of rice and 13 million tons of paddy in reserve, three times target set by the government.

    India is therefore expected to lift the ban soon, and this would quickly bring rice prices down.

    Nam said the world market would adjust soon. In 2008 global stocks had been the lowest in 30 years, but now they are only marginally lower than last year, he said.

    Global production is forecast to increase by 2% to 520 million tons.

    Thailand and Vietnam, the world’s second and third largest exporters, are encouraging exports.

    “Supply from these two countries is abundant,” Nam said.

    In Vietnam, the area under autumn-winter rice in the Mekong Delta, Vietnam’s rice basket region, has been increased from 650,000 hectares to 700,000 ha.

    Thailand and China, having learned lessons from 2008, are well prepared this time.

    China, the world’s largest rice consumer, has recovered more than 170,000 hectares of land since 2021 for farming to move toward self-sufficiency in feeding 1.4 billion people.

    Last year, President Xi Jinping called for ensuring there are 120 million hectares of arable land across the country, a number his government considers sufficient to ensure domestic supply.

    China has urged farmers to reduce cultivation of fruits and increase production of food crops, including paddy.

    Analysts expect global rice prices to increase this year, but only to around $600-800 per ton.

    “It is very difficult to reach the $1,000 mark like in 2008,” Xuan said.

    According to Bui Chi Buu, former director of the Institute of Agricultural Science for Southern Vietnam, businesses should take advantage of the opportunity to export the grain and not hoard it.

    “If they hoard in and speculate, businesses are at risk of making losses when India lifts the ban. Rice inventories will surge while the shelf life of rice is only three to six months.”

    Experts said since domestic prices are now higher than global prices, farmers, traders and exporters need to be cautious.

    Minister of Industry and Trade Nguyen Hong Dien recently instructed relevant authorities to inspect businesses and warehouses to monitor supply of rice and prevent speculation and hoarding to keep prices in check.

    This year Vietnam has some 7.1 million hectares under the grain and expects to grow 43 million tons of paddy, equivalent to 27-28 million tons of rice.

    The country exported nearly 4.9 million tons of rice worth more than $2.6 billion in the first seven months of the year, a year-on-year increase of 31% in value.

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  • Automation in Retail: A New Era of Continuous Improvement

    Automation in Retail: A New Era of Continuous Improvement

    In the ever-evolving landscape of the retail industry, one constant remains: the relentless pursuit of continuous improvement to exceed customer demands. This journey, which aims to enhance operational efficiency, reduce waste, and elevate customer satisfaction, has historically been fraught with challenges. However, an impactful collaboration, stemming from automation, is positioned to transform the continuous improvement narrative, introducing a new era of efficiency and optimisation in the retail sector.

    The concept of continuous improvement is what guides retailers toward achieving operational excellence. It hinges on the belief that processes can always be refined, and that even the most efficient systems can be further evolved.

    Beneath the surface of seemingly well-oiled processes, inefficiencies often lurk, casting shadows over operational intelligence. These inefficiencies have the potential to manifest as bottlenecks, excessive handoffs, or redundant steps. The challenge, however, lies in uncovering these hidden obstacles. Traditionally, this task has been a difficult undertaking, reliant on manual observations, interviews, and painstaking data collection – all of which requiring additional time that retailers don’t have. Despite even the best efforts, critical insights can remain obscured, and process enhancement opportunities may go unnoticed.

    A Paradigm Shift

    Enter process mining – a paradigm-shifting technique that sheds light on inefficiency. This innovative approach harnesses the power of data analytics to unveil the complexities of processes. By analysing event logs and transaction data, process mining constructs visual representations of processes in action. These process models vividly depict the journey from start to finish, enabling retailers to visualise and optimise the throughput time, cancellations, and return rates in real time, while also providing a holistic view to identify drawbacks and potential problems.

    Process mining offers a holistic view of operational reality, enabling retailers to see the ‘as-is’ state of their processes. It surpasses the limitations of traditional methods, delivering insights that are not skewed by human perception or biases, laying the foundation for effective continuous improvement.

    From Data to Insight: The Role of Automation

    That said, the raw data extracted through process mining barely scratches the surface. This is when automation steps in, assuming the role of the facilitator in the process of optimisation. Automation acts as the bridge between data and actionable insights, translating analytical findings into tangible process enhancements.

    In this coordination, automation is not confined to mundane tasks. It serves as the catalyst for change, driving improvements in processes with precision and speed. It identifies bottlenecks, suggests alternative workflows, and ensures that processes remain aligned with business goals.

    As an example, consider a customer-centric scenario. A retail organisation utilises process mining to analyse their order fulfillment process. The analysis uncovers a recurrent delay at a specific stage of the process, leading to prolonged delivery times. Automation takes the reins, triggering real-time notifications to relevant stakeholders whenever delays occur. This proactive intervention prevents bottlenecks from snowballing, resulting in improved delivery times and enhanced customer experiences.

    With the integration of process mining and automation a retailer’s decision-making evolves into a data-driven process. Traditionally, decisions were often influenced by subjective opinions or intuition. However, the combination of process mining and automation emphasises the importance of objective insights based on data, resulting in decisions that are now supported by factual evidence, reshaping the decision-making landscape. For example, with the integration of process mining and automation, a retailer can modernise its inventory management, relying on data-driven insights to optimise stock levels, streamline restocking processes, and enhance operational efficiency.

    This shift is pivotal, as it fosters a culture of continuous learning and adaptation. Rather than relying on conjecture, retailers can rely on data-backed decisions, enhancing the precision and impact of their improvements.

    A Future of Autonomy

    As technology progresses, the mutually beneficial partnership between process mining and automation creates the foundation for a transformative future. We stand on the verge of entering an era where processes can not only be optimised but can also adapt and evolve autonomously. The concept of self-learning processes, capable of analysing their own inefficiencies and iteratively enhancing themselves are becoming a reality.

    This trajectory promises an operational excellence, where retailers possess not only the tools to identify issues but also the capacity to proactively address them. The synergy of process mining and automation lays the groundwork for a self-optimising ecosystem, one where efficiency is a continuous cycle, not a sporadic event.

    Embracing the Journey: The Human Element

    Amid this technological shift, the human element remains essential, especially within the context of the rapidly changing retail industry. While process mining and automation provide the framework, it’s human expertise that guides the execution, ensuring that adaptability and foresight are woven into every decision. The qualities of human intuition, creativity, and expertise in the retail sector enrich the process with the level of skill required to make meaningful change.

    The combination of process mining and automation is driving a significant transformation in continuous improvement, particularly in a landscape as dynamic as retail. From uncovering hidden inefficiencies through process mining to translating insights into tangible enhancements using automation, this collaboration fosters a new period of operational excellence that is acutely attuned to market shifts and customer preferences. As technology advances towards self-enhancing processes, the human factor guarantees that these improvements are not just functional, but also transformative, as human insights refine automated actions and strategies. Throughout this journey, the integration of data-driven insights and human ingenuity remains the key driver of continuous improvement, allowing retailers to anticipate and respond to foreseeable changes with agility and innovation.

    For more information, please visit: https://appian.com/

    Author: Gordon Maddock, Regional Vice President, Broad Markets, Appian APAC

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  • Cart Abandonment: Reducing Friction at the Point of Conversion

    Cart Abandonment: Reducing Friction at the Point of Conversion

    In the fast-paced world of ecommerce, cart abandonment has become a significant challenge for retailers. With the rise of omnichannel fulfillment and the increasing demand for fast and convenient delivery options, the complexity of the fulfillment process has escalated. As consumers’ expectations continue to soar, the importance of delivery and pickup experiences has transitioned from afterthoughts to critical factors influencing buying decisions.

    Shoppers now expect immediate access to delivery and pickup options while browsing for products, making collection convenience as crucial as other product attributes. Unfortunately, traditional order management and ecommerce systems were not designed to handle the intricacies of omnichannel fulfillment across multiple locations. Relying on dependable yet slow relational databases, retailers are limited to offering generic fulfillment timeframes, which lack accurate information during the checkout process.

    This unfortunate reality leads to poor customer experiences, resulting in approximately 7 out of every 10 online shoppers abandoning their cart. To address this pressing problem, retailers must reevaluate their fulfillment strategies and invest in technologies capable of providing real-time, accurate information. There are three key areas retailers should focus efforts to reduce friction at the point of conversion and start making successful transitions.

    Establish a unified basket

    The biggest point of friction in today’s retail customer experience is due to the loss of context when transiting between the physical and the digital. A unified cart or basket is a foundational capability that bridges this gap, providing critical connectivity across channels. Shoppers don’t see “channels” the way retailers do – they simply shop. Therefore, retailers are increasingly under pressure to ensure seamless continuity, particularly during transitions between carts and wish lists, alleviating customers from the burden of starting afresh. For brands, embracing a digital first ethos doesn’t mean giving up on physical retail, but amplifying the two, fusing them together seamlessly.

    Manhattan Associates’ 2023 Unified Benchmark for Speciality Retail report found that retailers making the most progress in minimising cart abandonment through connecting in-store and online experiences are offering increased visibility of the following in their cart view:

    1. Inventory visibility: Visibility of real-time available stock across all channels, providing product status by store. If a particular item is unavailable, customers can opt for alternative options or be notified when it becomes available again.
    2. Available promo codes: Automatically applying available promotional codes to the cart view or ensuring applicable promotions visible for shoppers to easily ‘opt in’ when viewing their cart.
    3. Integration with loyalty programs: Displaying the customer’s loyalty points and rewards within the cart provides them with the easily accessible option to redeem rewards directly at the cart stage.

    The report also found that while the majority of retailers are offering basic capabilities such as inventory visibility on a product detail page (PDP), many are yet to extend this offering to across the board, lacking visibility across the entire shopping journey.

    Add value with flexibility

    A truly frictionless shopping experience is not just about the convenience of prefilling a customer’s payment details for future transactions, but it’s also about providing customers with a variety of payment options. More often than not, customers have a preferred payment method. By offering a wide range of payment types, both online and in store, retailers are providing that extra bit of flexibility, making a consumer’s purchase decision easier. This process should be simple and convenient for shoppers to pay however they prefer, including through gift cards, loyalty points, store credit, mobile wallets, pay-later apps, store credit cards, and any combination therein. The report also revealed that 40% of shoppers prefer payment flexibility, including the ability to use a combination of modes to make a purchase.

    However, offering additional payment options has the potential to make things more complicated, therefore it’s important that retailers have the right technology in place to support a seamless checkout experience. Shoppers look for fast and convenient checkout options, with a majority of cart abandonment occurring due to less-than-ideal shopper experiences at checkout, like a multi-step process. If shoppers can quickly and easily buy what they need, when they need it, and do so using their preferred payment method, not only are they more likely to complete the purchase, but they’re more likely to keep coming back.

    Offer fast, accurate delivery promises

    If retailers can assist shoppers with important ordering and delivery-related information across the shopping journey, they increase their probability of conversion. What is the earliest I could get this item, and how? Can I order an item for in-store pick-up and another for delivery as part of the same order? Leading retailers offer shoppers a comprehensive set of delivery and pick-up options, focusing not just on speed but on flexibility to fit busy lifestyles, with 77% of shoppers reporting they prefer to have options when selecting their delivery method. They accommodate ordering complexity without compromising checkout convenience, allowing shoppers to select different delivery options for products within the same order.

    While only 15% of retailers provide the option to change fulfillment method post order confirmation, Sephora is one retailer who is enabling shoppers to get Buy Online, Pick Up in Store (BOPIS) purchases shipped home in case they are unable to pick it up from the store. With 45% of shoppers prepared to abandon a cart if they’re unhappy with the delivery methods on offer, it’s crucial for retailers to ensure the product pick-up or delivery experience is as good as their shopping journey.

    Deliver exceptional experiences

    While consumer expectations of purchasing and delivery expand, customer service and experience are arguably the most important elements to get right. Retailers must invest in technologies capable of providing real-time, accurate information to offer a seamless and efficient fulfillment process. By embracing innovation and prioritising customer-centric approaches, retailers can position themselves for long-term success in this rapidly evolving industry.

    For more information on how your retail business can reduce instances of cart abandonment, please visit: www.manh.com/en-sg

    Written by Richard Wright, Managing Director, SEA, at Manhattan Associates

  • Direct-To-Consumer Growth Fuels Supply Chain Innovation

    Direct-To-Consumer Growth Fuels Supply Chain Innovation

    While the pandemic and subsequent ecommerce explosion drove strong demand for true omnichannel supply chain commerce solutions, it also fuelled a less immediately obvious longer-term move towards direct-to-consumer (D2C) fulfilment too.

    Where suppliers of wholesale goods (including everything from FMCG goods to electrical appliances), often ship large, bulky consignments of cargo through industrial supply chains to distribution centres and then on to stores, companies selling to consumers must manage the flow of individual shipments, such as a single box of running shoes, or a polo shirt, direct to a customer’s home or preferred collection point.

    Footwear, apparel and electronics manufacturers were amongst the earliest adopters to have stepped up their D2C offerings through the Covid-19 pandemic as stores and retailers closed their doors and brands struggled to find new avenues to reach their customers.

    As the lines between what a retailer or manufacturer used to be and what they are today become more opaque, almost every company is in some way, shape or form, making attempts to get closer to their consumers. Take Adidas as an example. D2C sales helped to boost revenue at Adidas in the last year, and its own ecommerce website now accounts for more than 20 percent of its business. It recently reported that online sales grew by double-digits through large parts of 2022 too.

    Another example of a modern, successful D2C strategy is that which America’s own sporting leviathan, Nike has implemented. Since 2017, the company has actively reduced its number of retail partners (last year it withdrew from Urban Outfitters) to concentrate on growing its own online and bricks & mortar presence – its Oxford Circus flagship store in the UK and the intuitive members app are fine examples of this strategic move, providing ‘loyal’ members with a greater range of bespoke, limited edition offerings not available beyond Nike’s own online and physical retail ecosystem.

    The shift to this model has given Nike full control over its customer relationships and crucially, its customer’s associated data, making customer journeys and user experiences richer and more native in equal measure.

    Similar to Adidas’ announcement however, the D2C model has also increased the fulfilment costs per item: from managing logistics and supply chains, to hiring the right talent capable of creating those exceptional customer experiences, these extra costs can consume profits if unaccompanied by an agile and pragmatic supply chain strategy.

    If brands truly wants to harness the benefits of D2C, and serve millions of customers in a cost effective, sustainably-minded way rather than a network of third-party retail stores, they need to be nimble in every department – especially when it comes to supply chains.

    The movement towards D2C fulfilment is well illustrated by the efforts made by Nike and Adidas over the last year, and, by operating effective D2C channels, they are enjoying the freedom to optimise their logistics and deliveries, while meeting the exacting expectations of their customers.

    D2C is the latest iteration in a long line of retail supply chain evolutions and while finding the right balance may prove challenging in the short-term, the size of opportunity is huge for retailers and particularly wholesale brands as this route offers a wholly new touchpoint to interact with customers, not previously available.

    At Manhattan Associates our unified supply chain commerce platform is informed and inspired by more than thirty years of supply chain and commerce experience across retail, apparel, food, and wholesale distribution, working with some of the world’s most well-known brands including, Adidas, Lacoste, L’Oreal and Brooks Brothers.

    We also know that the key to success is to start from the ground up and build strong foundations for success. And, in the case of retailers looking to ride the D2C wave, this means first looking to their own supply chain networks and the IT infrastructure that underpins it.

    For more information on how your business can enhance its D2C supply chain capabilities, please visit: www.manh.com/en-sg

    Written by Richard Wright, Managing Director, SEA, at Manhattan Associates

  • When Work is Anywhere: SOTI Report Finds Growth in Mobile Solutions to Support Australia’s Distributed Workforce

    When Work is Anywhere: SOTI Report Finds Growth in Mobile Solutions to Support Australia’s Distributed Workforce

    Increased IT budgets and adoption of new mobile devices signal the need for companies to manage aggressive digital transformation, but manual workflows persist, exposing security risks

    The distributed workforce now exists beyond the rise of hybrid, flexible or remote working environments, and it is having a significant impact on retail business operations across industries in Australia and globally.

    New global research from SOTI, “When Work is Anywhere: Managing Technology’s Role in the Distributed Workforce,” reveals retail organisations are increasing investments in new technology and devices as the workforce and infrastructure become more widespread. As businesses expand, there is a clear need to better manage this ever-broadening scope to gain the efficiency and productivity necessary to remain competitive. 

    Number of Devices in the Field Continues to Increase

    Advancements in the Internet of Things (IoT), e-commerce, real-time supply chain visibility and critical communications across a global landscape have resulted in a seismic shift to more distributed operations. As a result, 44% of Australian respondents reported substantial growth in the number of devices being deployed in the last 12 months, which is significantly higher than the global average of 37%.

    Additionally, 57% of Australian organisations (38% globally) have seen an increase in the mix of device types (including smartphones, barcode scanners, rugged handsets, mobile computers, etc.).

    “Our data shows that almost 80% of companies are now managing at least one technology – including new groups of devices and applications – that they were not a year ago, representing a significant shift in how these businesses are now running,” said Shash Anand, SVP of Product Strategy at SOTI. “Ensuring the productivity of a distributed workforce is one part of the equation. Today, businesses have access to technology to better manage the supply chain and track and control device usage in the field. This is forcing companies to invest in new ways to oversee and analyse the subsequent growth in technology and data use.”

    As Devices and Data Grow, So Do Security Threats

    As a result of this growth in device use, more data is being collected, processed and stored than ever before, fostering the need for data management security and compliance. The report found that over the last year, 40% of respondents in Australia cited the need for better access to devices to control and protect their IT network, while 38% increased their spend on mobile technology security.

    “Distributed operations, with a wider, more fragmented global tech footprint, create a more complex dynamic of devices and data, which all need securing and managing,” adds Anand. “While security is critical, due to the increasing reliance on sharing devices alongside the connectivity of device data, there also needs to be seamless visibility and access to monitor the health and use of these devices, with issues being fixed quickly and remotely once they arise. Without it, organisations will simply not yield the productivity and efficiency gains from their investments and leave themselves open to risks.”

    Outdated Processes Threaten Productivity Gains

    The arrival of the distributed workforce has spurred the need for technology to be adopted on two fronts – one in the form of the physical device itself, and the other in the effective management of all devices in an increasingly dispersed operational environment.

    While digital workflows are becoming more commonplace, manually enacted workflows continue to play a significant role, suggesting that organisations still have a way to go to truly manage a new operational infrastructure.

    Over the past year, 44% of Australian respondents’ business workflows were done on paper, while 49% were managed via email. This unstructured method is especially concerning in the healthcare sector where the manual information and data is likely to be patient related and therefore unsecured.

    A Digital Transformation is the Key to Optimising Workflow Management

    The report found that Australia (67%) was second to the U.S. (70%) as the region most likely to use manual processes.

    Unfortunately, many organisations across various industries and regions continue to use outdated, paper-based processes, which is concerning. This means sensitive data such as patient information and consumer payment information is unsecured, leaving personal data in the wrong hands.

    “Manual work processes are outdated, inefficient and open to human error. Therefore, it is alarming that Australia ranks so highly in the utilisation of manual workflows today. Australian organisations need to move beyond manual legacy processes to an environment powered by modern mobile devices that are managed securely and follow all relevant compliance protocols,” said Michael Dyson, VP of Sales, APAC at SOTI. “Properly managed mobile devices can speed up workflows and reduce the risk of security breaches and incidents, along with improving employee productivity and retention. In the digital era, the proper management of devices and data in a dispersed and often remote operational environment is central to ensuring ongoing business health and success,” ended Dyson.

    SOTI’s report, When Work is Anywhere: Managing Technology’s Role in the Distributed Workforce, can be downloaded here.

     

     

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  • Digital Marketplaces to Grow in 2023 Despite Economic Slowdown

    Digital Marketplaces to Grow in 2023 Despite Economic Slowdown

    Digital marketplaces continue to gain significant momentum in Australia,  with 88% of shoppers buying from a digital marketplace in the past year, and 92% of consumers planning to shop on marketplaces like eBay, Amazon and Catch in the year ahead.

    The findings were revealed as part of global ecommerce accelerator, Pattern’s fifth annual ‘Marketplace Consumer Trends Report – 2023,’ which researched Australian shoppers’ changing ecommerce habits and the latest digital marketplace trends.

    “Digital marketplaces are this year on a continued growth path and are becoming increasingly accepted and adopted as a shopping channel of choice by Australian consumers,” said Merline McGregor, General Manager, Pattern Australia. “However, with cost of living pressures and an uncertain economic outlook, our report highlights how consumer behaviour is set to again evolve in the year ahead.”

    Consumer Behaviour 

    Pattern research shows that 73% of consumers are set to spend more or the same online overall in 2023, and for the leading global digital marketplace Amazon specifically, 84% of consumers expected to spend more or the same on this platform in 2023.

    “Given the rapid increases in the cost of living and interest rate pressures facing consumers in Australia, it could be expected that a majority of shoppers would be looking to reduce their ecommerce spend in the year ahead. However, our research found a large portion of consumers said they had no plans to change their shopping habits in 2023,” said Merline.

    Not only are digital marketplaces attracting higher volumes of shoppers, but the demographic mix and way that shoppers use these channels is also evolving. High income earners are most likely to shop on Amazon today (36% vs 21% average), while eBay attracts larger volumes of male shoppers – with 69% of men purchasing from eBay vs 55% of females. 

    Marketplace Performance

    Looking at the past year, 62% of consumers bought from eBay, with 65% planning to buy from the platform in 2023. Running just behind, 52% of consumers bought from Amazon over the past 12 months, with 59% intending to buy from Amazon this year. Amazon (with 43% of shoppers having access to Amazon Prime) was recorded as the second most visited marketplace, with an anticipated 12% increase in purchases in 2023 compared to last year.

    In terms of website traffic, Amazon overtook eBay in average monthly website visits (58.3M Amazon visits vs 57.6M eBay visits), from December 2022 to February 2023, according to SimilarWeb data, with Catch trailing down the line at 9.9M visits over the same period.

    Pattern’s research asked shoppers what they were likely to buy in 2023 and through which marketplace they were likely to make a purchase. These results indicated that:

    • Amazon’s key shopper categories include Books & eBooks and Home & Kitchen products.
    • eBay scored highest in Electronics & Computer Equipment, followed by Home & Kitchen.
    • Catch saw an equal share in Clothing, Shoes & Accessories, Toys, Kids & Baby products and Home & Kitchen.
    • Kogan consumers are looking for Electronics and Home & Kitchen products on the platform.

    Research also showed that shoppers are most likely to visit a brand’s own D2C (direct-to-consumer) website when it comes to Clothing, Shoes & Accessories, Skincare & Make-up and Food goods.

    “As consumer confidence increases on digital marketplaces, so does their desire to cross-shop and discover new categories. Likewise, as brands begin to include marketplaces in their growth strategy, consumers are met with more choice as the platforms add new products to cater towards a wider variety of consumer interests,” said Merline.

    Marketplaces Continue to Serve as Product Discovery & Research Hubs 

    Marketplaces are increasingly becoming a product discovery hub for many online shoppers. Outside of Google (57% of shoppers), the next most popular channel to research products online is via digital marketplaces, where 23% of shoppers use platforms like eBay and Amazon to search for their goods.

    Of those shoppers using Amazon, 62% indicated that they discovered a new brand on the platform. Interestingly, 42% of consumers who discovered a new brand or product on Amazon also went on to visit the retailer’s D2C website.

    While eBay remains the dominant marketplace in Australia, it is being overtaken by Amazon in consumer search behaviour. Recent data from Power Retail suggests that Amazon has increased in popularity as a customer research tool by 71% (12% of product searches in January 2023 vs 7% in January 2022). This compares to eBay who’s popularity has decreased by 17% over the same period.

    “These findings demonstrate the ongoing appeal of marketplaces as product discovery platforms, whereby consumers are utilising the wide breadth of product diversity on marketplaces to fine-tune their search for particular items. Digital marketplaces appeal to shoppers trying new brands online through building purchaser trust through customer data, including real-world product reviews and informative answers to product page questions,” ended Merline.

    Download the full ‘Australian Marketplace Consumer Trends  Report – 2023’ report HERE

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