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Tag: Business

  • How to cope with the eCommerce fever

    How to cope with the eCommerce fever

    Familiarity breeds consent. Merchants who use transaction data in a secure and intelligent way will unlock the trust of the consumer in the fast growing eCommerce world, according to a new white paper researched by MasterCard.

    “People will be able to choose to only receive offers that are relevant and of value to them, and companies that get the equation right will be given permission to access more touch-points in people’s’ lives,” the report concludes.

    That’s one of 10 concepts identified in the report which aims to help fill what MasterCard describes as a “knowledge gap” among retailers keen to adapt to the changing buying preferences of customers but unsure of the safety and security of new payment and shopping technology.

    “As the world continues to be swept in an ‘eCommerce fever’, increasing numbers of people are beginning to swap notes and coins for taps and swipes. It is imperative that merchants possess the information and know-how required to harness the onslaught of ever-evolving consumer demands and technological advancements presented to them,” says MasterCard.

    The white paper on the “10 Industry-Wide Transformations Impacting eCommerce in Asia Pacific and Implications for Growth” was developed following conversations with various eCommerce players across Asia Pacific, and examines perspectives from industry leaders on the varied state of eCommerce in these markets.

    MasterCard has identified a knowledge gap in three key areas:

    • The transformation of the eCommerce consumer journey in Asia Pacific as a result of technology;
    • The change in consumer purchase behaviour in Asia Pacific, and clear best practices of how to drive transaction velocity; and
    • The implications for growth for both merchants and issuers within the eCommerce industry.

    As such the white paper also identifies growth challenges and marketing opportunities, as well as provides an overview of the future of eCommerce in Asia Pacific, the largest eCommerce region in the world.

    “Asia Pacific’s eCommerce trajectory has been nothing short of explosive, and with a growing consumer base that is twice as likely, to buy online than any other group in the world, the opportunities are endless,” explains Sam Ahmed, group head of marketing, Asia Pacific at MasterCard.

    “As consumers transact more online, the importance of digital payment options that give consumers a seamless check-out experience is on the rise. And along with that, the need for payment security.”

    In a world proliferated by smartphones, it is perhaps unsurprising that these mobile devices have become the shop fronts of today. From air tickets to Air Jordans, consumers are spoilt for choice, equipped with the ability to browse through billions of brands and products at the swipe of a fingertip.

    “Unfortunately, such advanced technology also presents a catch-22 for merchants. Whilst retailers benefit from the conveniences and wide-reach enabled by the internet, many are faced with the issue of retaining customers’ attentions.

    “With this paper, we explore the opportunities and issues facing the industry, and share successful case studies for growth from MasterCard’s own innovations with the digital & eCommerce engine. Using the engine operating model, we have collaborated with merchants, issuers and technology partners like Facebook to drive transaction velocity and achieve unprecedented results,” Ahmed said.

    Some more of the 10 transformations MasterCard has identified are:

    • You’ll never shop alone. Consumers will browse, rate and recommend products and services with friends and followers at all times. We already see an increase in partnerships between merchants and social platforms like Instagram, Facebook and Pinterest that make each shopping moment shareable with one-click. This taps into the growing dominance of influencer and peer marketing that consumers are growing accustomed to.
    • Data will drive intent. We will be prompted to shop for things even before we knew we needed it. Fridges will generate shopping lists based on consumption patterns and preferences, and your location will serve up the best deal for dinner. Shopping will be one component of a much larger digital ecosystem. Data gathered from operating systems and mobile devices will inform what we buy, when we buy and who we buy from.
    • Service and rewards will be the killer-apps. Comparison shopping will make the price table stakes. The merchants who deliver on their brand promise in a personalized and emotionally engaging way will earn the dollars and loyalty of consumers. Reward systems and CRM programs will become critical for sustainable success.
  • aCommerce serious about their Series B with new recruits and them joining shows confidence in our company

    aCommerce serious about their Series B with new recruits and them joining shows confidence in our company

    Veteran Cross-Border and Logistics Ecommerce Executive Leaves Arvato Bertelsmann to Join aCommerce as Group Chief Logistics Officer

    Mitch Bittermann to strengthen the cross-border and logistics capabilities of the growing end-to-end ecommerce enabler en route to Series B and arrival of ASEAN Economic Community

    Southeast Asia’s leading end-to-end ecommerce enabler confirmed the hire of Mitch Bittermann as their Group Chief Logistics Officer. Mitch joins aCommerce from arvato, where he was the General Manager for the Hong Kong branch and Head of arvato’s APAC Solution and Design team. As the Group CLO, Mitch will build and lead aCommerce cross-border initiatives to fulfill the increasing demand for easy intra-regional transactions in Southeast Asia as well as cross-border logistics with US, Europe and particularly, China. Mitch joins aCommerce at a time when eyes are increasingly on the region for both investment and ecommerce.

    “I’m excited to join the team at aCommerce. They’ve been at the forefront of driving ecommerce innovation in the region and are closely followed by many in the logistics space. The opportunity for cross-border in Southeast Asia is huge, with China outbound cross-border volume rapidly increasing as well as the upcoming ASEAN Economic Community (AEC) integration, the region will be a launchpad for new innovative distribution solutions,” said Mitch Bittermann, aCommerce Group CLO.

    With the ASEAN Economic Community (AEC) just around the corner, intra-regional cross-border transaction volume is expected to increase rapidly as it will open borders and stimulate trade and commerce across Southeast Asia through better logistics capabilities.

    Companies like Amazon and London-based ASOS already count Southeast Asian countries like Singapore, Thailand, and Indonesia as their fastest growing markets in Asia. Only last year, Amazon-owned Shopbop held a successful cross-border Black Friday/Cyber Monday campaign in partnership with Line and aCommerce. AEC will be a force-multiplier for this trend and allow more companies to extend their campaigns to the overseas audience.

    “With ecommerce in Southeast Asia heating up and the region being strategically positioned next to China, the world’s manufacturing and sourcing hub, there’s been a rapid increase in demand for cross-border logistics services across our client base,” said Paul Srivorakul, aCommerce Group CEO. “Having Mitch’s expertise in international logistics, we will be building out our next generation of cross-border logistics products and services to continue accelerating ecommerce in Southeast Asia.”

    Mitch helped set up Arvato’s cross-border operations in Singapore and Hong Kong serving customers in Asia and globally. With more than 10 years at Arvato, Mitch has worked on a multitude of international logistics projects including building up customer service operations in Canada, setting up distribution centers in Thailand and Europe and driving global freight optimization projects.

    En route to Series B fundraising, aCommerce has been strengthening its management team with recent additions of a new CEO and COO for Indonesia. Snorre Larstad (CEO) and Hadi Kuncoro (COO) joined aCommerce earlier last month to drive the next phase of growth of aCommerce Indonesia, which recently became aCommerce’s biggest regional operation in Southeast Asia surpassing Thailand and Philippines with 360 employees.

    “With our long term mission to make ecommerce easy in Southeast Asia, we’ve tackled the in-country logistics bottlenecks with our fulfilment centers, last-mile delivery solutions, and cash-on-delivery platform across Thailand, Indonesia, and the Philippines. Our next goal is to make intra-regional transactions as easy as possible too,” said Peter Kopitz, aCommerce Group COO.

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  • Japan retail sales growth slows

    Japan retail sales growth slows

    Japan retail sales grew 0.9 per cent in June – ahead of expectations but much slower than May’s three per cent.

    Analysts had been tipping a rise of just 0.5 per cent after the relatively strong May growth.

    Government data showed rising fuel prices could have unduly affected the figures in the first half of the year – fuel accounts for about eight per cent of total retail sales, and fuel prices have risen by about six per cent since January.

    Capital Economics, in a research note, warned not to pay too much attention to retail sales data as a measure of consumer sentiment.

    “We would instead pay more attention to core household spending, due on Friday. This measure of consumer expenditure has done a good job lately in explaining moves in the Cabinet Office’s synthetic consumption expenditure, the monthly equivalent of private consumption as measured in the national accounts.”

    A Reuters survey of economists projects a 1.7 per cent growth in household spending year on year in June – far lower than the 4.8 per cent of May.

    Nevertheless, May’s retail spending increase marks the third month in a row of growth after mixed results for a year.

    In March, retail sales fell nine per cent, although that was largely due to an irregular March 2014 when consumers brought forward spending prior to a sales tax increase on April 1.

  • Rome to host World Retail Congress 2015

    Rome to host World Retail Congress 2015

    Now in its ninth yr, the World Retail Congress is the important assembly place for senior retail executives.

    After consultations with senior retailers around the globe, the World Retail Congress 2015 introduces many new modifications and initiatives, not the least of which is a brand new location and host metropolis, Rome. The Cavalieri Lodge is a very excellent venue for the 2015 World Retail Congress.

    Created in response to demand for a platform for retailers from all all over the world to debate the important thing points affecting the retail business, the Congress has succeeded in bringing collectively a few of the best possible audio system to assist that course of.

    The World Retail Congress program seeks to not solely mirror however to additionally lead the senior retail agenda. This has by no means been extra necessary than it’s right now because the business undergoes monumental change.

    This yr’s theme summarises the most important problem dealing with all retailers: “Retail transformation as we speak, tomorrow and past”.

    The Congress has put collectively a line-up of main retailers, newer start-ups and disruptors and exterior specialists to offer inspiration. This system will launch a number of unique analysis stories commissioned by the World Retail Congress and steered by main retailers.

    CEOs will have the ability to meet for personal dialogue periods however to additionally profit from conferences with the highest keynote audio system and in addition be a part of a specifically ready management workshop led by Oxford College’s Enterprise Faculty.

    Throughout the three days, delegates will even take pleasure in enterprise streams and workshops which might be extra interactive and intimate to make sure most output.

    And the Congress closes there shall be a Gala dinner open to all delegates and their companions to take pleasure in a really particular night in one in every of Rome’s prime places. The dinner may even reveal the winners of the 2015 World Retail Awards.

    The World Retail Congress 2015 shall be held in Rome from September Eight-10.

    What does the longer term maintain for what you are promoting?

    Over three days the Congress will dive deeper into particular subjects according to the overarching theme of transformation. These embrace:

    The worldwide agenda and retail: Main economists, authorities figures, NGOs, associations and commerce our bodies will take part to offer a future wanting perspective on political, social and environmental actions the world over and their potential impression on the business.

    Management and organisational construction: A variety of key periods will handle how retailers are defining the ‘board of the longer term’ and modernising their enterprise tradition. As well as, a specifically commissioned MBA CEO management workshop led by Oxford College’s Säid Enterprise Faculty will present perception and analysis to help CEOs in managing inner transformation.

    Sustainable Enterprise Fashions: Reworking to create a sustainable progress technique is the order of the day and this system consists of quite a few discussions and debates on this essential theme. With the give attention to worthwhile, sustainable enterprise improvement periods will assess influential elements together with the supplier-retailer relationship and the battle towards promotional ‘fever’.

    Worldwide Enlargement: Periods designed and led by those that have years of expertise on this space will present insightful dialogue on the ‘The place?’ ‘When?’ And ‘How?’ questions; in addition, regional market specialists can be available to offer in depth information on key nations in query.

    Buyer Centric Retailing: An essential a part of retail transformation features a concentrate on getting a single, actual time view of the client to construct a long-term loyal following. To help retailers in this objective, periods will concentrate on offering predictions on shopper behaviour, in addition to exploring how retailers can recapture buyer loyalty, construct belief and develop an efficient communication technique.

    Imaginative and prescient 2020: Uniting main retailers, know-how powerhouses, futurologists, teachers and

    business specialists, key periods will give attention to presenting a imaginative and prescient of retail sooner or later contemplating predictions for particular retail sectors in addition to an image of how digital, in-store, communication and operational capabilities will develop to assist retailers higher serve their corporations.

    Be a part of the Retail Elite

    The World Retail Awards are a chance in your success and achievements to be recognised as the easiest within the international retail business.

    Though these awards happen on a worldwide stage, it’s innovation, nice concepts and confirmed success that we’re rewarding, not the dimensions or location of what you are promoting. For the previous 9 years the Congress has acquired and rewarded retailers, international, nationwide and native, nice and small. 2015 can be no totally different with seven extensive ranging classes providing all retailers the distinctive alternative to be recognised by their friends for the standard of their work and the influence of their concepts.

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  • Korean division retailer gross sales rise

    Korean division retailer gross sales rise

    Korean division retailer gross sales are on the rise.

    Figures launched by the Ministry of Commerce, Business and Power at this time (June 29) present a second consecutive month-to-month improve in Might, boosted by meals and attire.

    However the figures ought to be taken with warning: the impression of the MERS outbreak in Korea gained’t be mirrored within the figures till June, when shoppers began staying house to scale back the danger of an infection.

    Gross sales Development of Korea’s Main Retail Channels for Might reviews a three.1 per cent improve in division retailer gross sales by the main gamers and a extra modest zero.5 per cent improve from low cost department shops.

    In April, gross sales rose 1.three per cent and zero.02 per cent respectively.

    Analysts attribute Might’s will increase to gross sales of luxurious branded items, womens informal attire, childrenswear and golfing gear.

    Meals drove low cost retailer gross sales, fuelled by discounting promotions, however childrenswear and tv gross sales subsided.

    Comfort shops continued to thrive, posting a 31.5 per cent progress, largely because of cigarette worth will increase and greater than regular gross sales of prompt and recent meals.

  • Skilled Opinion: Making social media work for SMEs

    Skilled Opinion: Making social media work for SMEs

    In at present’s super-connected, always-on period, companies of just about any measurement can attain markets and clients past their borders with unprecedented ease. For a lot of SMEs, the speedy progress of cross-border e-commerce – tipped to be value USD2 trillion this yr within the B2C area alone based on Bigcommerce – makes the chance too worthwhile to disregard. In accordance with Aaron Levie, the CEO and co-founder of Field, a cloud-based on-line storage firm in San Francisco, “A producing start-up in Boston can join with a beforehand impossible-to-reach provider in China; a advertising company in New York can instantaneously collaborate with a shopper in London; a providers agency in France can have software program developed in India.”

    In lots of respects, know-how acts as the good leveler, opening up international commerce that was as soon as the unique protect of huge multinationals. SMEs on eBay are virtually as more likely to export as giant companies, based on Joshuta P. Meltzer from his ebook Utilizing the Web to Promote Providers Exports by Small- and Medium-Sized Enterprises. Nevertheless, the Seizing Cross-Border Alternative by Forrester Consulting believes that SMEs nonetheless should grapple with challenges that their bigger rivals do not face. Servicing a worldwide buyer base means overcoming issues corresponding to time zones, and language and cultural nuances. Small companies not often have the time or assets to spend money on outsourced customer support help, and a few are discovering it extra environment friendly to serve clients by way of social media platforms: one LinkedIn research from 2014 revealed that 81 % of North American SMEs use social media.

    With out the massive devoted digital and social media workforce that many giant manufacturers have, even this will appear daunting. Nevertheless, a couple of easy ideas can generate outcomes for SMEs that make investments the required effort and time.

    Construct a following. Probably the most finely-honed messages and delightful content material will not have a lot influence if solely two dozen social media “followers” ever get to see it. Corporations that transfer into social media want to make sure that they’ve a enough base of followers for his or her social platforms to be an efficient channel. UK-based on-line gaming firm Betfair.com achieved this by establishing an lively Twitter presence in 2009 with frequent updates on all kinds of sports activities and witty, artistic content material that’s related to its followers (who as we speak quantity virtually 120,000 individuals). Constructing a following might imply subsidiary investments – for instance, in promoting. LinkedIn, Fb and Twitter all permit corporations with small budgets of just some US dollars per day to promote by way of recommended posts, beneficial followers and different means.

    Keep in mind, you are the beginner! Penny Energy, writer of the UK’sDigital Enterprise Britain Manifesto and founder the Digital Youth Academy, says “Should you’d simply moved in to a city or village, you would not open the door of your new native pub and shout that you are a plumber or an architect and other people ought to offer you enterprise. You’d take part with what was happening round you, chat to individuals and allow them to know what you do, in order that they find out about you once they want your service. It is precisely the identical in social media.” Present on-line communities similar to Fb pages, LinkedIn communities or Twitter hashtags within the markets an organization is making an attempt to penetrate might present the footholds it must construct a following amongst clients in new markets.

    This was the expertise of Herschel Provide Co., a Canadian producer of backpacks and outside items. By taking the time to study every social platform, the corporate was far better-positioned to attraction to followers on every. “Totally different social networks appeal to totally different audiences,” says Allison Butala, Herschel Provide’s social media supervisor. “Our Instagram account attracts aspiring photographers; our Pinterest following caters extra in the direction of females; Twitter attracts these concerned about our product releases and information tales. Understanding this, we share related content material and develop distinct communities.”

    High quality, not amount. A couple of thousand followers who’re genuinely gained over by your providing are much more priceless than tons of of hundreds who “appreciated” a Fb web page merely to participate in a promotion. Construct a fame for actual experience by researching the individuals and points which have the most important affect within the markets your organization is concentrating on. Use the tone and method of your standing updates to place your organization as having the identical attributes clients would worth in an actual individual – assume friendliness, approachability or a way of humour. These steps will assist your organization to develop a particular social media “voice” and stand out from the gang, in line with The Guardian article How SMEs could make one of the best use of social media.

    Discover out what works via fixed monitoring. The Guardian articles How SMEs could make the perfect use of social media tells us that there is no substitute for expertise, so you’ll want to make sure you’re monitoring the outcomes of your engagements with social media followers. Various free instruments will make it easier to do that. For instance, Socialmention.com is a web-based platform that gives real-time social media search and evaluation. It could trawl the web for mentions of your small business or merchandise. Instruments like this shortly make it easier to to develop a really feel for what techniques work greatest. Christy Ng, founding father of Malaysian shoe design SME Christy Ng Footwear, has two devoted members of employees to handle the corporate’s presence on Fb, Instagram and Pinterest. “We do all our social media administration in-house – from monitoring and listening, to deciding what content material will probably be partaking for our followers,” she says. “For instance, a variety of content material is footage of our merchandise, as a result of we all know that that is what our clients need to see.”

    Finally, social media shouldn’t be an finish in itself – the actual yardstick of success is how a lot enterprise is coming in. However by studying from the specialists, making a acutely aware dedication to social media as a gross sales or customer support channel and leveraging their inherent flexibility and adaptableness as small organizations, SMEs can get it proper and reap the advantages.

  • Tmall growing out of Taobao’s ‘little brother’ role

    Tmall growing out of Taobao’s ‘little brother’ role

    Chinese e-commerce giant Alibaba has for the first time unveiled the trade details of its major global business unit Tmall Global, revealing a tenfold increase since it was founded 10 months ago, reports the Shanghai-based China Business News.

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  • Taiwan’s first outlet mall to open this year

    Taiwan’s first outlet mall to open this year

    Taiwan will see its first international outlet mall in Taoyuan in August, and 100 stores will open their doors in the first stage of the project.

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  • Lululemon names J. Crew executive as finance chief

    Lululemon names J. Crew executive as finance chief

    Lululemon Athletica Inc. named J. Crew Group Inc. Chief Financial Officer Stuart Haselden as its new finance chief, with an expected start date of 2 February.

    To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.

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  • Amazon’s third-party merchants are a growing piece of the sales pie

    Amazon’s third-party merchants are a growing piece of the sales pie

    To help fuel its growth, Amazon.com is increasingly turning to the millions of businesses that use its site to sell their own goods. That’s a good thing for Amazon, because those third party sales tend to have higher margins, according to some analysts, and it’s an inexpensive way to fill out its online catalog.

    To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.

  • Wildcraft to add 50-60 stores in India by 2016, eyes overseas markets

    Wildcraft to add 50-60 stores in India by 2016, eyes overseas markets

    Even as global active lifestyle brands are rushing into India, home-grown outdoor gear brand Wildcraft has said it is eyeing opportunities to take its brand to West Asian and South Asian markets.

    “We have designed our products keeping in view the local climatic conditions. West Asian and South Asian markets can well do with our kind of products. We are planning to venture into those countries with the distribution model,” Gaurav Dublish, co-Founder, Wildcraft, toldBusinessLine.

    In India, Wildcraft has 120 retail outlets, largely company-owned and operated. “We plan to add 50-60 stores by 2016,” said Dublish, adding the investment outlay is expected to be about INR18 crore (INR180 million, USD2.8m). Wildcraft stores are typically 500-600 square feet.

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  • Sheng Siong signs joint-venture deal to run supermarkets in China

    Sheng Siong signs joint-venture deal to run supermarkets in China

    Singapore-listed Sheng Siong Group has signed a conditional joint-venture (JV) agreement with Kunming LuChen Group Co Ltd to operate supermarkets in China.

    Under the conditional agreement, the proposed JV company will be incorporated under the laws of China with a registered capital of USD10 million.

  • Wumei seals majority stake in B&Q China

    Wumei seals majority stake in B&Q China

    Beijing based supermarket chain Wumei Holdings will pay CNY1.4 billion (USD225 million) for a majority stake in home decorating chain B&Q China whose parent Kingfisher failed to spur growth in the home decoration market in the world’s second-largest economy.

    The all-cash takeover will be subject to approval from China’s Ministry of Commerce, and is set to complete in the first half of 2015, Kingfisher said in a statement yesterday.

    Xu Zhicheng, an analyst with Guotai Junan Securities, said Wumei could leverage its overall data management system and dealers’ network within the country to boost B&Q’s performance.

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