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Category: Research

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

  • Singapore Popular Games

    Singapore Popular Games

    Gaming is growing quickly in Singapore. This is due to a number of different reasons. The economy is now booming in Singapore which means that there a range of different games for customers to play. Also, they have more leisure time which makes them seek out the most entertaining games. Also, playing baccarat online is getting popular in Singapore. This is one of the most popular games due to its intense gameplay. In this article, we will look at why baccarat is so popular and also explore other popular games in Singapore. We will also detail the specific business conditions which have led to a gaming boom within Singapore.

    What is Baccarat

    Baccarat is a card game which has become popular around the world. It can be played in casinos, however recently there have been many online baccarat games being developed. These provide an engaging and realistic gameplay experience. One of the reasons why it is so popular is because the rules are simple to learn. It does not have the same complexity as other games, which makes it highly accessible. However, there are also many strategies and side-bets that come into play. This makes the game exciting to learn and to master.  You can find the best baccarat gaming websites on baccarat.net. They have a wide selection of websites on view. Additionally, they also go in depth about the rules and also discuss the best strategies for winning.

    Most Popular Games in Singapore

    Even though online gambling is illegal in Singapore, many have been enjoying legal casinos operating worldwide that accept players from Singapore. Some of the most popular casino games include the classics such as poker and blackjack. However, many Singapore players have also been enjoying highly engaging video slots. Mobile phone gaming is also very popular in Singapore. Smartphones offer a way for people to enjoy the gaming experience wherever they go. Hence, mobile casinos and other mobile games have become very popular. The high powered graphics and engaging gameplay on smartphones is a major reason for this.

    Alongside gambling games, video games are also highly popular. Singapore is the country where people spend the most hours on gaming in the South-East Asia region. On average they spend 7.44 hours on gaming. Some of the most played games include Overwatch which is an online game that is available on all platforms such as PC, PS4, and Xbox ONE. Role-playing games such as Devil May Cry 5 are also very popular. The Singapore public is fond of these games because they provide an immersive and enthralling experience. The storyline and quests are highly engaging.

    Business Conditions in Singapore

    The current business and retail conditions have been positive for Singapore. Traditional retailers have been facing stiff competition from innovative e-commerce companies. This has forced them to change their ways to evolve in order to compete in the new marketplace. They are creating new shopping experiences that are tailored to the customer. Physical stores aim to recapture the customer base from Amazon and Alibaba. The demand for necessity goods has remained as high as ever. Another key development is unmanned stores which could become even more common in the near future. Overall, there have been a few bumps, however, the long term economic and retail outlook is positive. The people of Singapore like to enjoy their earnings on playing games that allow them to relax.

    Conclusion

    You will now have a better idea on which games are most popular in Singapore. You will also have an understanding of what is causing a surge in popularity for many games. Baccarat continues to be one of the most played games in Singapore due to its exciting and addicting gameplay. However, other games are also being enjoyed, and the business boom means that gaming will continue to grow in Singapore. We look forward to new innovations and developments of gaming in Singapore.

  • 6 Main Causes of Car Accidents

    6 Main Causes of Car Accidents

    Car accidents are an unfortunate part of our everyday lives, whether you live in a large metropolis or small town. People are almost always the cause of these accidents; and unfortunately, accidents can result in significant injuries and even worse, fatalities. Your life is not the one at stake when driving, so be sure to use good judgment, follow the laws of the road, and be cautious. 

    Of course, just because you are a safe driver, or think that you are, does not mean that all the other drivers are. For this, be sure to protect yourself and anyone else in your vehicle by always having car insurance and filing claims when necessary. The ignorance and errors of other drivers should not fall upon your shoulders. The leading causes of car accidents are listed below and what you should when in these situations. 

    Distracted Driving: 

    More now than ever, are more drivers unfocused on the road. No longer is eating, applying makeup, reading or other crazy things drivers do that can cause an accident, but most accidents happen because of the phone. Currently, nearly every state or city has laws that apply to people driving with their phones and for an excellent reason. Jeffrey Preszler from www.preszlerlaw.com says that as of 2018, the number one leading cause of traffic accidents in Canada was distracted driving due to using a cell phone or other handheld electronic device. When you are driving, let that be it, and put the phone away; it may sound like common sense, but people still find ways to do something other than driving. Distracted driving is now the primary cause of all car accidents. 

    Drunk Driving: 

    Drinking and driving has been around for ages, yet for some reason, people are still doing it. There are other options such as rideshare or a classic taxi. Do not let someone drink and drive; if they have no other choice, let them sober up or have someone take them home. There is never an excuse to drink and get behind the wheel or watch someone do it. 

    Irresponsible Driving: 

    The irresponsibility of some drivers can shock a lot of people. Speeding, tailgating, changing multiple lanes and aggressiveness are just a few of the ways that plenty of preventable accidents can happen. Even if you are running late or the car in front of you is going way to slow, calm down, and realize that it is not just you that is driving. Others can feel the impatience or frustration of another driver on the road. 

    Lawlessness: 

    Running red lights, improper turns, lack of a turn signal, we all have been behind those drivers. They have almost caused you or someone else you know an accident because they either did not pay attention to the signs or they did not care. Look for all the traffic signs and any other visuals that will help you be a more conscientious driver. If you know the rules of the road and follow them, it will be more beneficial to you and other drivers. 

    Weather: 

    Other people are not only out of our control, but the weather is too. If it is raining, snowing or there are storms, try to stay off the road if at all possible. Severe weather causes many accidents and only because of a slick road. If you are in the car during a storm and you have a chance to pull over to wait it out, do that first. Otherwise, drive with extreme caution, paying close attention to your driving and other vehicles. 

    Construction and Roads: 

    The roads need to be maintained, so that means there is always construction going on, especially if you live in the bigger cities. Make sure you slow down since you would not want to hurt one of the workers. Also, as tempting as it is to swerve from the potholes or bumps in the road, you cannot do that with oncoming traffic or someone next to your lane. Slow down and watch for people and the state of the road to avoid an accident. 

    When you head for the car and get behind the wheel of your car, think for a moment that you have the luxury of being able to do it. Now think of all the other people that you will come into contact with on the road since you must share it with others and realize they have families and loved ones too. Getting distracted behind the wheel is not worth what could happen to you or others.

     

  • The space where purchasing decisions are made, Fitting Rooms

    The space where purchasing decisions are made, Fitting Rooms

    Why do customers walk into a fitting room when they are in a retail space? The answer is logical: because they have found a piece of clothing they like – and it should be considered a sure sign of purchase intent, even if the customer does not buy what they try.

    This small but mighty area of a retail store is actually the room where purchase decisions are made.

    Yet, far too many retailers still tend to overlook the importance of fitting room design. So here are some fresh ideas to help retailers boost sales through intelligent fitting-room design…

    How fitting rooms affect sales

    Let‘s start with some numbers and hard facts. First and foremost, the fitting room area is one of the most significant advantages brick-and-mortar retailers have over online retailers. Whereas online, one in five shoppers return their purchased items, in brick-and-mortar stores, fewer than one in 10 customers return purchases. Returns usually result in costs for any retailer – online or offline, so it is important for retailers to minimise the potential for returns. Here’s where an effective fitting-room design can play a part.

    Research shows that shoppers who use fitting rooms are seven times more likely to make a purchase than browsers who do not. Not only that, but if the customer has a good experience with a sales assistant in the fitting rooms, they can buy up to three times as many items in one transaction. Combine those figures and you can estimate that 70 per cent of all purchasing decisions in your store are made in the fitting room.

    Design can influence the buying decision

    Most retailers already recognise the importance of size, colour and lighting in fitting rooms. So let’s take a closer look at other design features.

    A fitting room represents the most intimate area of your store. This is a place where your customers take off their clothes, hoping to try on a new piece of clothing which makes them look and feel good. Here is where design can play a part in that feel-good factor – after all, it is not just about the clothes.

    Take one simple example: remember how uncomfortable you feel when you think you are over- or under-dressed for an occasion. Similarly, if a fitting room design fails to provide the shopper with a character and flare that matches the clothes, the customer can experience the same uncomfortable feeling. An uncomfortable environment can lead the customer to feel something ‘does not look right’. The result: the customer decides against making a purchase and the retailer loses a sale.

    How to create the perfect fit

    We found some great examples of fitting rooms in Mainland China.

    INXX represents a forward-thinking, boundary-shattering exploration of how the genres of streetwear, sportswear and high-end fashion can be reconstructed, reinterpreted and recombined. Through this cool and futuristic fitting room design, the Chinese street-fashion brand not only encourages shoppers to try on their clothes but had also created an atmosphere which is towards their target market.

    With design concepts such as these, it is no surprise the brand has enjoyed continued success over the years. INXX was founded in Guangzhou in 2013 and in less than five years opened 54 stores in 17 Chinese cities. This is a brand we can all learn from.

    Lululemon is a Canadian brand that sells fashionable and high-quality yoga clothing and athleisure wear. One of the brand’s core values is mindfulness.

    Lululemon describes its mission as: “Our manifesto is one way we share our culture with the community. It’s an evolving collection of bold thoughts that allow for some real conversations to take place.”

    Lululemon cleverly uses the fitting room area as a platform to express some of these bold thoughts through its design. Positive affirmation statements frequently used in yoga are integrated in the fitting room design, illustrating how fitting-room spaces can also reflect fundamental brand values.

    So, when adopting slogans and other statements within the design of your fitting rooms, be sure to choose the “perfect fit” for your brand.

    Fitting rooms are a significant advantage for brick-and-mortar stores over online alternatives. Some brands which sell mainly online have begun to recognise this and are finding effective ways to deliver an offline customer experience.

    One of these brands is Jooos, which has combined offline and online experiences by providing the Top 100-selling fashion brands on Tmall with a retail space to showcase their products.

    The design of the fitting-room space here is interesting, because it is located in the centre of the store. Additionally, the exclusivity of the products is highlighted by a small staircase: customers literally have to walk upstairs to reach the fitting room, leaving them feeling “special” when they arrive there.

    Remember, in any fashion store, the fitting room marks the final barrier retailers need to draw a customer beyond in order to achieve a sale. So make that space count.

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  • Turning data into information in the age of IoT

    Turning data into information in the age of IoT

    If you think about what your home was like even just a few years ago, life was very different.

    Think about what grocery shopping was like. You’d open your fridge door to check out what’s missing, scribble down on a notebook a shopping list of what you need, turn off the aircon and switch on the alarm before you left the house and leave.

    Now, your smart fridge automatically knows when you’re running low on milk and will order the specific brand and size that you prefer and have it delivered to your front door. Left home and forgot to switch the aircon or alarm on or off? Simply view the app on your smartphone and tap your appliances on or off.

    Known as the Internet of Things (IoT), people are consuming information from more connected devices and as a result, marketing practices are rapidly changing. Retailers need to learn how to speak to customers through more channels than before.

    As IRI’s product solution director Adam Fisher explains, while more devices are creating more communication, marketers are getting blocked where they weren’t before. What happens when your fridge starts ordering groceries for you? Where a marketer could previously capture customers at the shelf in a grocery store, they now need to work out how to get your attention when the fridge automatically orders milk to your doorstep.

    “From a marketer’s standpoint, there are so many devices vying for people’s attention —How do you get the right person’s attention at the right time?” Fisher says.

    According to Fisher, one of the biggest challenges for retailers is knowing how to turn all the data into actionable information.

    “It’s knowing how do I bring [the information] in, how do I make sense of it, but on top of that, how do I know when I need to do something when it’s signalling something?” he points out.

    Marketing automation can give brands more insights and data into how people are responding to these different channels and how they should be approached, suggests Fisher. It’s one of the biggest trends in retail today

    and can help businesses engage with their customers by programmatically finding the optimal marketing and promotional activities for defined customer segments.

    A major benefit of IoT is the fact that based on all this new information from devices, brands and retailers are able to bring products to market faster, allowing them to keep up with the ever-changing retail landscape.

    However, it is vital that businesses have the right infrastructure in place in order to deliver real business growth.

    Fisher says: “It is important that they have the technology and right partner in place. In order to do this, brands and retailers will have to combine mobile and cloud technology infrastructure and go entirely digital to build a new business model by connecting people, things, processes, and data to keep up with technological innovation. That is the essence of what we do at IRI, is connecting the dots to help make faster and stronger business decisions.”

  • Long wait times driving bad CX experiences

    Long wait times driving bad CX experiences

    Nine out of 10 customers say a bad experience with a company impacts their future buying decisions, with 42 percent saying it stops them buying from a brand altogether, according to new research by customer service software company Zendesk.

    The firm’s Quantifying the Business Impact of Customer Service in Australia Report found that companies that fail to deliver quality customer service experiences may be losing loyal customers, as well as sales.

    “Businesses are always competing to offer the latest and greatest products or services,” said Zendesk ANZ managing director Amy Foo. “But what is often overlooked is how quality customer service remains to be a cornerstone of business success.”

    “What this data suggests is that businesses can no longer afford to overlook the importance of delivering consistent excellence in customer service.”

    The research also found that customers are four times as likely to remember an unfavorable experience compared to a positive one for as long as two years, dramatically impacting a customer’s desire to return to a store.

    Some customer service lowlights include being expected to wait too long or failing to have an issue resolved at all. Highlights, on the other hand, include fast service and not having to explain an issue multiple times.

    “Providing positive experiences can mean the difference between poor, short-term and positive, long-standing customer relationships,” Foo said.

    “This inevitably has a significant impact on sales and revenue in the long-term.”

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  • Pricing Tactics to Boost Sales in E-Commerce

    Pricing Tactics to Boost Sales in E-Commerce

    More than 80% of the purchasing decision depends on price. Especially in the ultra-fast e-commerce arena where businesses showcase and change their prices every 3 to 6 hours. But before changing prices out of the blue you must know that there are certain conditions to do that. Decrease your prices to very low and you’ll leave a lot of money on the table raise them up high and you’ll end up hunting flies.

    The Importance of Pricing

    Let’s start by going through each insight down below to understand why pricing needs more attention ever than before.

    • 90% of consumers invest their time to hunt the best online deals.
    • 80% of “first-time” consumers say it’s important to be able to see and compare prices from different sellers.
    • 70% of consumers believe they’ll get a better deal online than in brick&mortar stores.
    • 50% of consumers will purchase products left in shopping carts if those products are offered at a lower price.

    As you can see pricing is very, very important.

    Let’s get into some tactics on how you can approach pricing to increase your profits margins and sales numbers.

    Charm Pricing

    Have you ever heard about the power of 9s? That is the strategy, where you end a price with a “9” instead of a “0” on the price tag. This is a very common tactic especially in physical stores, but you may also come across it in online stores as well.

    Here’s why! Our brain perceives $50.00 and $49.99 as different values. According to consumer perception, $49.99 seems closer to $40.00, which is cheaper than $50.00 and product prices ending with a “9” are considered “the” deal to not miss.

    Prestige Pricing

    This is suitable for high-end, luxury, emotion-triggering products, where you should apply round prices such as $500, $750, opposite of charm pricing. Setting round prices on products which evokes emotions converts better.

    A study by Kuangjie Zhang and Monica Wadhwa, claims that “A rounded price ($100.00) encourages consumers to rely on feelings when evaluating products, while a non-rounded price ($98.76) encourages consumers to rely on reason. When a purchase is driven by feelings, rounded prices lead to a subjective experience of feeling right,”

    Bundle Pricing

    This psychological trick makes online shoppers search for getting an extra item with the purchased product at the same price. This presents a golden opportunity for the wise e-commerce seller. To reduce this pain and encourage online shoppers to buy your products, use bundling, set your prices accordingly and get these customers to reach deeper into their pockets.

    For example, Amazon has an advanced bundling strategy; it always suggests two or three related items that you may want to purchase at the same time. Most of the online shoppers jump onto these types of offers because they’re amazed by the simplicity of purchasing them all at the same time. Bundle two or three items together with a single price set an adequate discount, and you can start selling less-popular items.

    What’s Next?

    All of the tactics above are some part of the common approaches laid out from the people of Prisync. To learn more about other pricing strategies take the time to read most of their blog posts. When you’ve successfully implemented a strategy, you’ll either address your customer’s emotions or logic. Either way, you will start winning and boosting your conversion rates, sales, and eventually revenue. And if you want to automate that, we recommend you start using a pricing software sooner before its too late.

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  • Retailers trust Mobile Device Data for Retail Network planning

    Retailers trust Mobile Device Data for Retail Network planning

    Retailers have found a new way to conquer the challenge of limited data availability in many Asian markets by using Mobile Device Data.

    Yes, location-powered Mobile Device Data is the latest and most powerful tool for analyzing customer origins and movement patterns.

    With both population growth and growing disposable incomes, as well as an appetite for many retail formats, numerous Asian countries are becoming increasingly attractive for global retailers. But the Asian market is both enormous and very diverse, so customer profiling is essential for any retailer wanting to target its growth strategy to the most lucrative opportunities.

    Enter Mobile Device Data – the new frontier in the trade area, customer analysis and retail network planning.

    Mobile Device Data as a technology can be used to cost-effectively deliver a range of network planning functions, including:

    1. Understanding population densities and movements at a small area level, for both daytime and evening populations
    2. Identifying gaps for new business opportunities
    3. Forecasting trade area overlaps and sales cannibalization
    4. Creating targeted local store marketing and advertising opportunities.

    Increasingly retailers are moving to cloud-based mapping tools like GapMaps to help them make the best possible decisions in a data-driven, cost-effective manner. Instead of running customer origin surveys, which can incur huge costs and chew up lots of time for data entry, fieldwork and analysis, retailers are now looking for location intelligence platforms which are dynamic, global, flexible and cost-effective. Most importantly, Mobile Device Data can also generate more accurate results, drawing on massive volumes of customer data collected over years, rather than a small sample survey conducted over a few weeks.

    That’s exactly what GapMaps offers. GapMaps is a global platform which is leading the way in Mobile Device Data analysis. The platform has successfully integrated device data as a new layer on its network mapping platform, providing deep insights into customer visitation patterns and movements during both daytime and evening. The GapMaps technology has been successfully used in many countries by a number of leading global retailers in quick service restaurants, fast food, cafes, petrol retailing, health and fitness, child care and many other sectors. The platform is also widely used by many developers in these various sectors.

    Where can you use GapMaps Mobile Device Data?

    GapMaps can help any client analyse Mobile Device Data for any location in the world where mobile phones are extensively used.

    Many GapMaps clients in India, Indonesia, Hong Kong, and Taiwan are already using Mobile Device Data to define trade areas. The following example shows the mobile device density during the day in New Delhi, India.

    The data can be used for any location that attracts significant numbers of visitors, be it an individual retail store or shopping centre, quick service restaurant, gymnasium, sports arena, museum, entertainment venue or tourism precinct.

    Real-time, large scale, and cost-effective Mobile Device Data

    Harnessing GPS information based on mobile phone activity at and around any selected location, the data are collected from mobile phones (devices) via one or more of hundreds of popular apps. These apps collect the data and feed it back to a central collection point.

    GapMaps founder and managing director, Anthony Villanti says: “Mobile Device Data is a game changer in terms of how retailers can substantiate network planning decisions and model their catchment areas. Mobile devices observed in specific locations, such as a retail store, can be linked with their common evening and daytime locations, such as ‘home’ or ‘work’, for example. When the data is visualized in the GapMaps platform, it’s a really effective tool.”

    Mobile Device Data offers the powerful combination of being real-time, Big Data, continual, flexible, easily replicable across locations or time periods, and cost-effective, because

    1. The observations are time stamped and therefore any period of analysis can be selected.
    2. The analysis can be easily repeated for multiple time periods and multiple locations. There are no limits.
    3. Any site or location can be analyzed, including any competitor sites – no permissions are required.

    The data is easily deployed via the user-friendly GapMaps platform, enabling insightful analysis (both tabular and pictorial) to be conducted and presented by any user – no technical expertise is necessary.

    Combining such Mobile Device Data with demographic, government and industry statistics in India, Indonesia, Hong Kong, Taiwan and other countries throughout Asia, GapMaps can be used to inform and guide network strategy. It is already being used by hundreds of companies across a wide range of industries – from childcare and fast food to fitness, cafes, aged care, fashion retailing, entertainment destinations, financial services and more.

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  • Procter & Gamble Starts S$12m Innovation Hub in Singapore

    Procter & Gamble Starts S$12m Innovation Hub in Singapore

    Procter & Gamble Singapore has announced a S$12 million innovation investment to create the next billion-dollar corporate concept for Singapore. GrowthWorks was announced on the 5th anniversary of P&G’s Singapore Innovation Center (SgIC). The intrapreneurship hub will focus on new brands, new technologies and new business models. Working in cooperation with P&G Singapore’s $250 million R&D division, P&G hopes that the next big idea in international business will crop up in Singapore.

    Procter & Gamble is a consumer goods company. Their famous brands like Max Factor, Old Spice and Gillette make them sought after by investors, as these brands have reach well outside the US market. Investing in Procter & Gamble takes investors into multi-national economies: the P&G stock was trading at US$108 on the eToro site on May 17, and their expansion into international markets like Singapore has much to do with this. Do we anticipate this news to precipitate further P&G stock price growth?

    Why Singapore?

    So why is American company Procter & Gamble putting so much emphasis on geographically tiny Singapore? For more than a decade, Singapore has topped the World Bank’s list of easiest countries in which to do business. Whether it is starting a business, paying taxes, receiving construction permits, or enforcing contracts, Singapore is generally faster, cheaper, and more efficient than anywhere else.

    According to the World Bank, it takes only 150 days, on average, to resolve a commercial dispute in Singapore. In the United States (7th place on the World Bank’s list), this would take 420 days. In Myanmar (167th place), a similar conflict would drag on for at least three years.

    P&G correctly identifies Singapore as the most fertile ground for new businesses to flourish. If P&G can convince their “intrapreneurs” to innovate on the scale they desire, GrowthWorks really could bring the next international billion-dollar business idea into fruition via Singapore.

    What Will the New GrowthWorks Innovation Center Bring to the Table?

    GrowthWorks won’t be concerned with the full product pipeline like the SgIC. Instead, GrowthWorks is focusing on “home run” ideas, concepts that can be developed elsewhere into innovative products or businesses, without burdening the GrowthWorks team with the difficulties of taking the concepts all the way through the multi-year development cycle.

    GrowthWorks puts an emphasis on “intrapreneurship” – a word referring to employees who act with all the inspiration and drive of entrepreneurs, but for Procter & Gamble, not their own private interests. S$8 million of the initial S$12 million P&G investment will go directly to the intrapreneurs, who will use their funding to conduct lean experiments for early concept development. They will work with relevant Singaporean companies and agencies to establish feasibility and other early conceptual design, with the aim of creating business ideas that are tailor made for the Singaporean marketplace. P&G hopes to see a minimum of S$3 billion-dollar ideas grow out of GrowthWorks.

    GrowthWorks represents one of the first dedicated corporate attempts to incubate new major businesses specifically for the Singaporean market, and it’s P&G’s most significant R&D investment outside of the United States.

    In the big scheme of things, S$12 million isn’t very much money for a multinational to invest in innovation. From our perspective, P&G is simply testing the waters in Singapore, seeing if the small nation can serve as a meaningful strategic outpost for expansion in the wider region.

    If the investment brings returns, P&G will have greater expansion opportunities in Asia than in the US, where it faces relative market saturation. Asia numbers its consumers in the billions, while America numbers them in the tens of millions. America may be the larger and more stable economy, but we can see the value of this strategic play in Singapore.

     

  • The new golden rule for retailers to be Succesful

    The new golden rule for retailers to be Succesful

    The retail climate in Australia has long been a concern, but could there be a secret sauce to help brands reclaim valuable real estate in the minds of their consumers?

    Let’s face it — which brand doesn’t want to be like Nike? Its mass market, appeal and unique ability to stay relevant throughout its 50-year history have made it one of the most valuable brands amongst sports organisations. If Nike hadn’t already cemented its position as one of the biggest culture catalysts in the world, Colin Kaepernick has definitely made sure it has now.

    Commentators have waxed lyrical about the Kaepernick campaign and marketers have taken to it big time. But retail businesses too can take a leaf out of this book. You can’t fault the way Nike engaged with consumers on the basis of what motivates them, summed up by the campaign’s tagline: “Believe in something. Even if it means sacrificing everything.”

    This is the crux of value-based engagement: engaging consumers on the basis of what they want to do, not necessarily what they want to buy. Australian retailers need to think beyond the product, and instead provide experiences and solutions that support and enable fundamental consumer needs, desires and aspirations.

    Between the brand and consumer, the latter now has more influence over the other. The growth of online shopping means the challenge for retailers to surprise and delight is getting harder, and thanks to technology, consumers are more informed and more in control at every stage of the purchase process. They are more aware of what they want and don’t want, and their attention span depends on how well you can teach, entertain or guide them at every given moment they interact with your brand.

    Consumer loyalty and advocacy is won and lost through the quality of experiences that retailers can provide. Whether your consumer comes to you to be inspired, be motivated to do good, alleviate frustrations, fulfil desires or solve a problem, retailers now need to create and invest in experiences to retain their customers.

    There are four main types of in-store experiences:

    • Convenient: These involve removing unwanted friction and inconvenience in the shopping journey. Amazon set a new standard for frictionless retail with Amazon Go, where consumers can walk in, shop and leave without ever going through a checkout line. With time as the new currency, the retailer that removes the most painful features of the shopping journey and increases overall convenience can go a long way towards building consumer loyalty and trust.
    • Communal: Turn the store into a destination for loyal customers to gather, who orient themselves to particular causes, affinities or cultural distinctions. In Tokyo, Adidas’ RunBase concept stores work extremely well as a local runners’ hub on which customers can test new gear and receive customised training ahead of purchase.
    • Curated: The future of retail will not be about having a proliferation of choices as it has been in the past; rather, it will involve winning consumers over with thoughtful curation of products and experiences. With OPSM reminding you to order more contact lenses for the next three months, would you consider moving to another optometrist? No!
    • Immersive: While this type of experience is still in infancy, it’s a safe bet that more retailers are going to invest heavily in this space as the need for experience-based differentiation becomes paramount to survival and future growth. To promote Deadpool 2, 7-Eleven launched its first augmented reality (AR) in-store experience, which consisted of different points of engagement and encouraged customers to spend more time in-store. Deadpool could be seen through the app as guiding users around the store, and a selfie filter was available, plus scannable codes that unlocked in-store activities and loyalty points.

    The next frontier of retail will have shopper demands and desires be foreseen, processed and fulfilled before they are articulated or even consciously realised. The creation of unique experiences represents a chance for retailers to achieve true, meaningful engagement with their consumers. And by committing to helping them achieve what they want to achieve, retailers will ensure their relevance over a greater period of time.

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  • Turning data into Useful Insights in the age of IoT

    Turning data into Useful Insights in the age of IoT

    If you think about what your home was like even just a few years ago, life was very different. Think about what grocery shopping was like. You’d open your fridge door to check out what’s missing, scribble down on a notebook a shopping list of what you need, turn off the aircon and switch on the alarm before you left the house and leave.

    Now, your smart fridge automatically knows when you’re running low on milk and will order the specific brand and size that you prefer and have it delivered to your front door. Left home and forgot to switch the aircon or alarm on or off? Simply view the app on your smartphone and tap your appliances on or off.

    Known as the Internet of Things (IoT), people are consuming information from more connected devices and as a result, marketing practices are rapidly changing. Retailers need to learn how to speak to customers through more channels than before.

    As IRI’s product solution director Adam Fisher explains, while more devices are creating more communication, marketers are getting blocked where they weren’t before. What happens when your fridge starts ordering groceries for you? Where a marketer could previously capture customers at the shelf in a grocery store, they now need to work out how to get your attention when the fridge automatically orders milk to your doorstep.

    “From a marketer’s standpoint, there are so many devices vying for people’s attention — How do you get the right person’s attention at the right time?” Fisher asks.

    According to Fisher, one of the biggest challenges for retailers is knowing how to turn all the data into actionable information.

    “It’s knowing how do I bring [the information] in, how do I make sense of it, but on top of that, how do I know when I need to do something when it’s signalling something?” he asks.

    Creating cut-through

    Marketing automation can give brands more insights and data into how people are responding to these different channels and how they should be approached, suggests Fisher. It’s one of the biggest trends in retail today and can help businesses engage with their customers by programmatically finding the optimal marketing and promotional activities for defined customer segments.

    A major benefit of IoT is the fact that based on all this new information from devices, brands and retailers are able to bring products to market faster, allowing them to keep up with the ever-changing retail landscape.

    However, it is vital that businesses have the right infrastructure in place in order to deliver real business growth.

    Fisher says: “It is important that they have the technology and the right partner in place. In order to do this, brands and retailers will have to combine mobile and cloud technology infrastructure and go entirely digital to build a new business model by connecting people, things, processes, and data to keep up with technological innovation. That is the essence of what we do at IRI, is connecting the dots to help make faster and stronger business decisions.”

  • Ramadan an opportunity for E-Commerce Retailers

    Ramadan an opportunity for E-Commerce Retailers

    Online sales in Malaysia and Indonesia are set to boom in the lead up to – and during – Ramadan, according to an analysis by advertising platform Criteo. Based on data from last year’s festival – which ran from May 15 to June 14, consumer activity typically slowed at the start and end of the period.

    However, while this could be a result of consumers focusing more on the actual festivities during those times, online retail sales surged 10 days into Ramadan and lasted through the two weeks before Eid al-Fitr on 15 June.

    A 57 per cent uplift in online retail sales was observed on June 4, Criteo revealed.

    By comparison, shoppers in the Middle East typically shop early into the season and slow down closer to Eid al-Fitr to focus on celebrations. Online retail sales surged early, reaching a 106 per cent uplift on May 26. The shopping behaviour during Ramadan in Turkey mirrored that in Malaysia and Indonesia, with online retail sales reaching a peak at 50 per cent uplift a week before Eid al-Fitr.

    “Ramadan represents a notable cultural shift in consumer behaviour, with the Middle East and Southeast Asia being key regions,” said Criteo SEA-Pacific MD said Alban Villani. “Moreover, the global Islamic economy is also growing year-on-year, estimated to reach US$3 trillion by 2023.

    “Given the growth potential of the halal industry, retailers should leverage Ramadan to engage Muslim shoppers,” continued Villani. “They should start reaching out to shoppers early with the relevant messaging two weeks earlier, especially when shoppers are thinking of buying gifts for family and friends. As some shoppers might purchase later into the festive season, retailers should continue engaging them with special offers and personalised content throughout Ramadan to optimise their campaign efforts. By doing so, it is easier for retailers to stay top-of-mind when shoppers are ready to buy gifts to share the festive joy.”

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  • Asians show greater propensity amongst global consumers in new technology adoption

    Asians show greater propensity amongst global consumers in new technology adoption

    Asians have emerged as the most enthusiastic adopters of new and innovative technology products globally. The latest findings released by GfK from the first of its kind study—the New Tech Adoption Index (NTAI)1, highlights Asia’s prominence in driving global new technology advancement; with the region’s high demand fueling growth of overall product category in majority of the region’s market by at least 35 percent in both volume and value terms in the past year.

    GfK unveiled detailed findings of their first ever study conducted around the New Tech Adoption Index, which provides a relative measure of the inclination by Asian consumers towards adopting technology and consumer products with advanced features or technology.

    The NTAI leverages GfK’s proprietary point-of-sales data to specifically analyze new consumer technology take-up across over 250,000 products in the consumer durables and technology industry across nine Asian and six key European markets. New consumer technology products categorized into four main baskets2 —Fun, Comfort, Freedomand Essential are analyzed accordingly, including hardware items and those with software-led features such as Ultra HD/4K and Gaming (Fun), Smart Appliances (Comfort), True Wireless, Wearables and AI Speaker (Freedom) and Screen sized larger than 5.5” for Smart + Mobile Phones (Essential)

    “To be competitive, more and more brands are introducing products with innovative features or functionality. In order to succeed in their innovation efforts, it is important for brands to understand where they can find their greatest potential of early adopters, who can then create a network effect for their products,” said Vishal Bali, Managing Director for Client Solutions and Innovation, APAC. “The New Tech Adoption Index can help brands identify these markets, and even pinpoint the specific cities and regions within each market.”

    New Technology Adoption: Different Shades of Asia

    GfK reported a wide ranging spectrum of NTAI between 46 and 146 for the nine Asian markets, highlighting the vast differing levels of new technology adoption in the region.While showcasing the rise of key markets in new tech adoption, it also reveals the fact that the region is home to some of the laggards in this area. The top three markets with the highest overall NTAIs are China (146), Singapore (134) and South Korea (128), while India (46) and Indonesia (67) took their positions at the opposite end of the scale.

    “The New Tech Adoption Index indicates a market’s propensity in new technology adoption based on how much higher or lower their calculated index is positioned from the baseline of 100. We see an obvious trend of market clustering among the developed and developing markets, whereby NTAIs are higher for the more mature markets, and lower for emerging ones,” observed Bali.

    A deeper dive into the Asia’s NTAI reveals that 24 of the total 70 cities evaluated in the study showed above average readings, with the 8 top cities all hailing from China (NTAI range:161-196) —led by Beijing (196) and Shanghai (193). Eight of Korea key cities followed next (NTAI range: 147-156) with Seoul (156), Chungcheong (156) and Inchon (153) showing the highest new tech adoption propensity within this market. Most diverse market within Asia is Indonesia ranging from 33 to 118 with Botabek being the city which sees the highest level of new tech adoption.

    Composition of the index analyzed by the four baskets reveals significant variations from country to country. Asia is clearly a “mobile first” region, which is why the Essentialcategory is the main driver of NTAI across the region. Unique market traits take center stage when it comes to adoption of new tech products for the other categories. For instance, NTAI for the Freedom category is led by Vietnam where the local populations are generally younger, while the mature markets of Korea, China and Singapore exhibit higher NTAIs for the Fun category due to their greater spending power. It is interesting to note that new technology adoption in Comfort category is only significant within Developed Asia.

    New Technology Adoption Index: Asia versus Europe

    GfK also did a comparison of new technology adoption trends between East (Asia) and West (Europe). Amongst the six European markets, the four which have indices reflecting higher propensity in new tech adoption are Great Britain, Spain, Italy and Germany, although their ranking still lag behind four of Asia’s markets. In addition, the gap between the highest and lowest NTAIs is much narrower, in comparison, for European countries—ranging from 80 to 111.

    Another notable difference between the two regions is the higher share of Fun, Freedom and Essential categories existing in the European region, whereas Comfort is practically a nonexistent category here.

    Bali added, “The wide variation of new tech adoption in Asia as compared to Europe continues to lend credence to the notion that there is no one Asia, but it is in fact a complex fabric of distinct countries. And the complexity deepens when we consider sub-national characteristics.”

    Implication for Brands in Asia

    GfK’s NTAI study also highlighted the distinct traits of Asian consumers that set them apart from the rest of the world. For instance, evidence from various GfK reports reveal that Asian shoppers tend to be less loyal, more experimental, and are growing in sophistication when it comes to making purchase decisions thereby making the markets in Asia an ideal haven for new product test marketing.

    GfK Asia’s NTAI offers a view on the market’s receptivity to new consumer technology products and help businesses make crucial decisions pertaining not just to market selections to launch innovative new products, but also provide valuable market intelligence that can help brands in their product conceptualization process to ensure that the new tech product features will go down well with their target market.”

    According to findings from another GfK study, nearly two in every three (64%) respondents surveyed in Asia said that they are less loyal to any one brand—a seven percentage point jump from two years ago. In comparison, the proportion of respondents in US and Europe who shared the same sentiments were significantly lower.

    “However, a one-size-fits-all strategy will not work for Asia’s highly diversified and fragmented marketplace,” emphasized Bali. “Instead, focusing on pivotal factors such as perfecting their distribution and pricing strategies across different cities and channels, and gaining a good grasp of their different consumers’ needs and adoption behaviors, will significantly up the success rate of new technology brands in the consumer tech and durable space.”

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  • A Short Review Guide On Jared Goetz Shopify Ecom Hacks Academy 

    A Short Review Guide On Jared Goetz Shopify Ecom Hacks Academy 

    eCom Hacks Academy is an in-depth course for building your online business in Shopify. CNBC and Entrepreneur, Inc. featured its founder, Jared Goetz, in 2017 as he was able to earn 2 million USD in 60 days from his store. A lot of people are enticed by how Jared worked for only 30 minutes a day, which is included in the eCom Hacks Academy training. If it sounds too good to be true, check out this Jared Goetz review for a rundown of what you can learn in the eCom Hacks Academy.

    If you’re considering to avail of the training included in eCom Hacks Academy, take note that the price is 1,999 USD. Before enrolling, it’s best to know what to expect, which are the following:

    1. Training Course

    Jared teaches what he called dropsurfing, which is different from the more commonly known dropshipping. Here are some differences between the two:

    • Accordingly, dropsurfing only sells viral products while dropshipping sells what seems like a profitable product of your own choice.
    • With dropsurfing, you can travel the world without worrying for your inventory, unlike in dropshipping where you need to buy products in bulk, which could pile up in your garage.
    • Dropsurfing uses Shopify as its store while dropshipping uses both Shopify or Amazon. However, the difference is controlling traffic sources for dropsurfing, and it only hopes to make a sale on Amazon.
    • The profit dropsurfing promises for using Shopify ranges from 30-40%, which is higher from dropshipping earnings that range from only 5-10%.

    The dropsurfing concept is what Jared offers through his course: a dream business where you can work at home and travel any time. In the course, he shows you how it’s done from his own formula, which consist of the following:

    • Structure of the store
    • Techniques to convert leads
    • Effective ways to find products
    • Partnering with suppliers
    • Ads creation and scaling
    • Customer service

    Moreover, the content of the course that incorporates videos are as follows:

    • Module 1 – Overview of the structure, which has ten lessons, such as how to register with Shopify’s free 21-day trial, creating a store, establishing your domain name, phone setup, your store’s mode of payment, and basic search engine optimization (SEO) meta descriptions. Although helpful, almost all of these are available online.
    • Module 2 – Talks about setting up your store, which comes in 16 lessons. It focuses on conversion rate methods, email setup, and maximizing sales through upsells and free shipping.
    • Module 3 – Includes four lessons focusing on the products, from finding products and suppliers, to the fulfillment of orders through Oberlo.
    • Module 4 – Has 16 lessons that discuss strategies to keep your store running. Marketing campaigns such as Facebook Ads and using it like a pro, testing methods, and your budget are included in this module.
    • Module 5 – A bonus lesson that talks about conversion hacks, customer services, customer audience, and templates for abandoned cart email, which are in PDF form.
    1. Pros

    The best part of the eCom Hacks Academy is that it is legitimate, unlike many online training courses being offered on the internet these days.

    Moreover, the following are pros that make the eCom Hacks Academy beneficial:

    • Proven Method – Since the structure and formula are personally tested by its founder, eCom Hacks Academy’s strategies can give you financial freedom, similar to what happened to Jared.
    • Suitable for Beginners – Since lessons are understandable, a zero-knowledge Shopify wannabe can learn a lot from the training.
    • Teaches, Not Feeds – Unlike other courses that offer a website they’re affiliated to, Jared’s academy only guides you on how to create and operate your own site. You may even learn how to increase your sales through a new website, akin to what happened to Walmart.
    1. Drawbacks

    The training program may teach you a lot, but like any other program, there are also drawbacks to the eCom Hacks Academy. Here are some of them:

    • Expensive – A lot of online training courses come way cheaper than what Jared offers, and with the content of the program, it has a high price.
    • Not suitable for Shopify experts – Because the content is not new for existing Shopify users, the structure may only be beneficial for beginners. When it comes to setting up an account and website, which existing users may already know, it may not be worth the price for them.
    • Unrealistic Expected Sales – A promise of 5 million USD as your income may be too much. Moreover, the highlight that attracts people, which is working for four hours each week while earning 5 million USD, is a high expectation. Especially if you’re a beginner, this may not be reachable.

    Conclusion

    This review guide may help you balance your expectations regarding the eCom Hacks Academy training program. What is guaranteed is the legitimacy of Jared’s academy, but his claims may not be realistic, as his working style may not be applicable when starting up. Reaching a large amount of income may mean working hard and working smart, but it may take some time for most people. Nevertheless, feel free to try out the training program if you think this will suit and benefit you.

     

     

     

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  • Only 31% Of Consumers In Asia Pacific Trust Organizations Protection to Personal Data

    Only 31% Of Consumers In Asia Pacific Trust Organizations Protection to Personal Data

    Microsoft today released the findings from a new study, “Understanding Consumer Trust in Digital Services in Asia Pacific“. Conducted in partnership with IDC Asia/Pacific, the study revealed that less than one-third (31%) of consumers believed that their personal data will be treated in a trustworthy manner by organizations offering digital services

    The study, which was conducted with nearly 6,400 consumers across 14 markets in Asia Pacific, also uncovered the following findings:

    • Nearly 40% of consumers in the region have had their trust compromised when using digital services;
    • Consumers feel that all five elements of trust – privacy, security, reliability, ethics, and compliance – are almost equally important to them;
    • Consumers have the highest expectations of trust from financial services, healthcare and education sectors;
    • Only 5% of consumers prefer to transact with an organization that offers a cheaper but less trusted digital platform, while 61% will recommend a trusted digital service to others even if the cost is higher; and
    • Consumers feel that governments followed by technology companies should take the lead in building trust.
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  • Qualtrics Research Reveals the Business Impact of Responding to Customer Feedback

    Qualtrics Research Reveals the Business Impact of Responding to Customer Feedback

    Qualtrics, the leader in experience management (XM), today launched research revealing the extent to which Singaporean businesses are responding to customer feedback and the subsequent impact on business outcomes.

    The Qualtrics State of Customer Feedback report – which surveyed 500 consumers – found that 42 per cent of Singaporean respondents said while organisations had acknowledged feedback they had failed to act upon it. Ten per cent said they were ignored entirely. This means just under half of customer feedback is being actioned in Singapore, with 48 per cent of respondents saying changes had been made based on their feedback.

    A failure to act on insights and address negative experiences has an adverse effect on loyalty, according to the Qualtrics study. Unresolved negative experience mean 84 per cent of consumers are less likely to buy again. When the experience is resolved however, 54 per cent of respondents are more likely to purchase again.

    “Through these findings Qualtrics aims to demonstrate the importance of acting upon feedback, and best practices for doing so across platforms and demographics. Organisations can engage with customers on their terms, interact with them when and where it suits them, and get straight to the issues that matter using dynamic data collection tools that adapt intelligently to feedback in real-time. Inspired by the insights, companies can not only react to feedback but also take actions to deliver a better experience next time.,” said Foo Mao Gen, Head of Southeast Asia, Qualtrics.

    First Impressions Count

    Findings emphasise the importance of making a positive first-impression on consumers, with respondents more likely to share a negative experience (58 per cent) than a positive one (26 per cent) following the first engagement. Males were also found to be more likely (35 per cent) to submit negative feedback compared to females (25 per cent).

    Positive experiences with employees also leads to more feedback being shared. Three in ten (30 per cent) of respondents said they would share feedback following a positive engagement, compared to 15 per cent who said a bad experience prompted feedback. Additionally, positive employee feedback is given over two times as much as negative employee feedback.

    Know How to Respond Across Channels

    The speed at which customers expect responses vary depending on the feedback channel used. Overall, 80 per cent of consumers want feedback within 24 hours – with just under two-thirds (62 per cent) saying it is received within this timeframe.

    With social media being entwined into consumers’ lifestyles today, it has emerged as a popular tool for customers to provide feedback. LinkedIn and Instagram should be consumers’ preferred feedback channel as this is where brands are most likely to respond within a 24-hour time frame (90 per cent and 77 per cent respectively).Facebook was found to be the least likely platform to respond within 24 hours (69 per cent). However, this is likely down to the sheer volume of feedback through the platform.

    Away from social media, email is the preferred option among consumers for sharing positive (39 per cent) and negative (40 per cent) feedback. Online reviews are also a popular platform for positive feedback, with 28 per cent opting for this platform. When it comes to sharing negative feedback, phones are the preferred platform after email (18 per cent).

    “Customers’ expectations for the time organisations take to respond to their feedback largely differ by industry. This could be due to preconceptions about the service standards of the industry and also, the value of the product and service, as evidenced by 87 per cent and 85 per cent of consumers expecting phone service providers and airlines respectively to respond within 24 hours, while only 70 per cent expecting the same from government agencies,” added Foo.

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