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Tag: E-Commerce

  • Ebay tops list for local marketplace e-commerce

    Ebay tops list for local marketplace e-commerce

    More Australians visit Ebay in an average four week period than do Amazon and Kogan combined, new Roy Morgan research has revealed.

    New data put together from a sample of 50,000 Australians aged 14-plus has shown that Ebay is by far the most popular local online marketplace, with 9.4 million visitors in an average month.

    Next is Gumtree, with 5.6 million visitors, followed by Amazon, which entered last December, at 4.6 million.

    “The gap between these figures shows there is a large cohort of well over 4 million Australians who visit online shopping websites led by eBay, Gumtree, Amazon, Kogan.com, Groupon, Catch, OzBargain and others who don’t follow through and make the purchase,” Roy Morgan CEO Michele Levine said.

    “These online ‘window-shoppers’ represent a huge audience of Australians who are already living in the online world but haven’t taken the final plunge to purchase through the online shopping channels they know exist.”

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  • Amazon Australia launches Prime

    Amazon Australia launches Prime

    Amazon on Tuesday launched its membership program, Amazon Prime, in Australia, offering free two-day delivery to nearly 90 per cent of Australians for an annual fee of $59.

    This is significantly less than the $119 fee for Amazon Prime in the US.

    Amazon Australia’s country manager Rocco Braeuniger noted the company was “thrilled” to introduce Prime six months after launching a local retail offering in Australia.

    “We have been working hard to expand selection, ensure customers get great value, and improve the Amazon shopping experience for Australians. With the addition of Prime, customers can now enjoy the most convenient way to shop and take advantage of new and expanding benefits from Amazon,” he said.

    In a press release, Amazon said its Prime program will bring free two-business-day delivery to 90 per cent of Australians, with more cities, towns and suburbs being added over time.

    It is currently available to members in Australian capital cities, including Sydney, Melbourne, Brisbane, Canberra, Adelaide, Hobart and Perth, as well as regional cities, such as Albury-Wodonga, Bendigo, Gold Coast, Gosford, Newcastle, Shepparton–Mooroopna, Toowoomba, Wagga Wagga and more.

    Prime members in more remote or rural locations will receive free expedited shipping in as fast as four or five days.

    There is no minimum purchase to qualify for free delivery, however, it is only available on ‘Prime-eligible’ products.

    Amazon said there are Prime-eligible products across all 23 shopping categories on its local site, including clothing  and accessories, electronics, books, toys, consumables, and beauty.

    Eligible products at launch include items from brands such as Blackmores, Bonds, Sol-Sana, Breville, Bose, L’Oreal, Tommy Hilfiger, Nintendo, Disney, Universal Sony Pictures Home Entertainment and Huggies.

    Notably, Prime members in Australia also have access to more than four million products on Amazon in the US through the local Australian site and free international delivery on orders over $49.

    This comes after Amazon announced it will stop shipping orders from its US site to Australian addresses in order to avoid having to comply with the new GST laws.

    “We hope that Australians will love free two-business -day delivery on products from Amazon Australia and free international delivery on products from Amazon US, all available to customers on Amazon.com.au,” Amazon’s vice president of Prime International, Jamil Ghani, said.

    “We are really proud to bring Australians the most extensive set of Prime benefits at launch for any country – ever. This is just the beginning for Prime in Australia, as we will keep making Prime better, adding even more selection and benefits.”

    Prime members in Australia also gain access to Amazon’s award-winning Prime Original television shows, as well as other popular movies and shows with Prime Video, over 1000 e-books with Prime Reading, benefits for gamers with Twitch Prime.

    Amazon Prime has more than 100 million paid members around the world.

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  • JD.com hastens e-commerce race in Southeast Asia

    JD.com hastens e-commerce race in Southeast Asia

    Chinese online retailer JD.com has signed on Google as a strategic partner in a move seen to complement the former’s ambitions to expand into Southeast Asia while giving the latter a toehold in a market that it gave up in 2010.

    Google’s investment in JD.com comes as e-commerce companies, including Alibaba Group and Amazon, race to expand their global reach and carve a larger slice of market share in regions such as Southeast Asia, where the potential for e-commerce is viewed as largely untapped.

    Chinese smartphones brands such as Vivo, Oppo and Xiaomi have proven to be a hit among consumers in the region of 650 million people with their affordably priced models. Tencent Holdings, the online gaming and social media giant, is the largest shareholder in Singapore-based Sea, which operates Shopee, a regional e-commerce platform. Other internet services companies such as Didi Chuxing and Meituan Dianping have invested in local champions such as Singapore-based Grab and Jakarta-based Go-jek, respectively.

    Alibaba bought Singapore-based e-commerce platform Lazada and appointed one of its co-founders and most senior executives, Lucy Peng, to head the push into Southeast Asia.

    JD.com, too, has its eyes on Thailand, with a new online shopping platform developed with Thailand’s Central Group slated to open on June 18. In Vietnam, JD.com invested in local e-commerce firm Tiki.vn earlier this year. In Indonesia, JD.com launched a local online retail business JD.ID two years ago.

    “Logistics and language sites, everything should be localised here,” Winston Cheng, JD.com’s president of international business said in an interview in Singapore last week before the Google tie-up.

    “Today, people have higher and higher demand,” he said. “They want anything anytime anywhere but right away so the cross-border business model takes too long to wait for.”

    JD.com achieved 159.2 billion yuan (US$24.7 billion) in orders from June 1 to June 18, generating annual growth of 37 per cent for the company’s 618 Mid-Year Shopping Festival, an online shopping event similar to Alibaba’s Singles’ Day Shopping event on November 11.

    JD.com has also deepened cooperation with its biggest shareholder Tencent, launching a new shopping function on WeChat before the 618 Shopping Festival. The function enables consumers to shop on JD.com within WeChat, China’s biggest social network and messaging app. Product pages from JD.com pop up when consumers type product-related keywords into the search functions on WeChat.

    Google, together with other US internet companies such as Facebook and Twitter, are blocked in China, although several firms still maintain offices in the country selling advertisements to Chinese firms hoping to reach an overseas audience. Other companies, like Apple, continue to sell their products and services in China after complying with local rules, such as hosting its cloud services for the Chinese market on the mainland.

    “Google’s strategy for investing in JD.com is two-pronged. On one hand, it hopes to have a significant partner in China to support the company, which could help it reintroduce services like cloud or advertisements in China,” said James Yan, research director at Counterpoint. “Secondly, JD.com is strong in areas like logistics, courier delivery and so forth, which Google can tap on to expand its e-commerce ambitions.”

    The partnership is complementary as JD.com is in the business of e-commerce and logistics and is unlikely to clash with Google’s other services, such as cloud or OS services, Yan said.

    “We want to accelerate how retail ecosystems deliver consumer experiences that are helpful, personalized and offer high quality service in a range of countries around the world, including in Southeast Asia,” Karim Temsamani, president of Google’s Asia Pacific operations, said in a statement.

    The Asia-Pacific region is one of the largest and fastest growing e-commerce marketplaces in the world, with people in Southeast Asia alone expected to spend US$88.1 billion online by 2025, according to Temsamani.

    “This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world,” Jianwen Liao, JD.com’s chief strategy officer, said in a statement. “This marks an important step in the process of modernising global retail.”

    Southeast Asia consists of 11 countries with a total population of 653.4 million, about 49 per cent of whom live in urban areas, according to the latest United Nations estimates. Only three per cent of the region’s retail sales are currently conducted online.

    Among the biggest barriers to developing a regional Southeast Asian market is the lack of mobile payments, with about 70 per cent of the region’s population still unbanked. The thousands of islands that make up the archipelagic nation of Indonesia also presents logistics challenges.

    JD.com will adopt different strategies to cater to the differences of the region, according to a spokesman. While there is no one-size-fits-all model given the different infrastructure, languages, cultures and religions across the region, e-commerce is still booming because of the commonality of a rising middle class, the spokesman said.

    “Alibaba sees Southeast Asia as a priority region within our global strategy,” an Alibaba spokesperson said in comments made before the JD.com-Google partnership announcement. “We are also committed to contributing to the growth of the digital ecosystem in Southeast Asia by driving initiatives to develop an e-commerce talent pool.”

  • Thailand Post to launch e-commerce service offering local products

    Thailand Post to launch e-commerce service offering local products

    Thailand Post is to add e-commerce to its logistics services, offering locally made products from across the country.

    From the fourth quarter, the enterprise will pilot exports of community-made products to Japan by collaborating with Japanese online marketplaces. The move aims to capitalise on cross-border e-commerce to compete with Chinese internet giants dumping their products in Thailand.

    “The company spent 10 million baht to launch Thailandpostmart.com, helping local communities sell their products in a marketplace with special delivery costs,” says Thailand Post president Samorn Terdtampiboon. The website, co-developed with BEC Tero, gathers local products nationwide into a “digital community”, aiming to be the largest distribution channel for agricultural products, crafts, food and One Tambon One Product items.

    The site’s eight categories are halal products, health and beauty, mail products, best cuisine in Thailand, best provincial products, locally made products, home and garden, and automotive.

    In the next phase, the site will integrate with at least 5000 points of sale in communities by year-end through collaboration with the Ministries of Commerce, Industry, Interior, Energy and Agriculture, as well as the Bank for Agriculture and Agricultural Co-operatives, to bring more local products to the e-marketplace.

    After the official launch, there will be an estimated 12,000 stock-keeping units of locally made products by April next, with THB200 million (US$6.2 million) in sales revenue through the website.

    Products can be delivered to buyers within two days after order and payment, and mobile apps for both Android and iOS will be available soon.

    By the fourth quarter, Thailand Post will pilot cross-border products to Japan’s largest e-marketplace for items like crafts, jewellery and locally made goods.

    Thailand Post will next month launch an e-wallet developed with partner 2C2P.

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  • Catch Group reports a major loss after $24.9m writedown

    Catch Group reports a major loss after $24.9m writedown

    E-commerce company Catch Group reported a $17.8 million loss for the year ended 30 June, 2017, after booking a $24.9 million impairment on the value of its goodwill.

    The writedown was in the company’s services business unit, which comprised its daily deal business, Scoopon, which it sold to Lux Group on 1 December, 2017.

    This follows the $113.8 million loss Catch reported in 2016, after writing down the value of its goodwill and trademarks by $125 million across its products and services businesses.

    According to a financial statement filed with ASIC earlier this week, the writedowns are the result of a management review of the company’s five-year cash flow forecasts due to recent trading performances.

    The Scoopon sale was part of a broader asset swap between Catch Group and Lux Group, which involved Catch acquiring Lux Group’s discount apparel site, Brands Exclusive, and discount homewares sites, The Home, and Lux Group acquiring Catch’s travel booking sites, BonVoyage and Scoopon Travel.

    The two companies also merged their daily deal sites, including Scoopon, Cudo, LivingSocial, Deals.com.au and New Zealand-based TreatMe, into a joint venture with 50-50 ownership.

    According to Catch Group’s financial statement, it paid $2 million to Lux Group and received $8.8 million cash and 46 per cent of the shares in Lux Everyday Pty Ltd.

    $13.7m EBITDA before writedown

    Excluding the goodwill impairment expense, Catch posted $13.7 million in EBITDA in 2017, up 12.5 per cent on 2016.

    The online retailer generated $240.9 million in revenue in 2017, a 2.6 per cent increase over its 2016 revenues of $234.8 million.

    “The current performance of our business is outstanding,” Catch Group chief executive Nati Harpaz told.

    “The launch of the marketplace exactly one year ago has accelerated our growth and we now generate more than $1 million of sales every day with more than $2 million weekly sales coming from marketplace.

    “The key to growing our marketplace has been the growth in sellers which now tops 1,000 sellers and more than 1 million SKUs available on the website. This number continues to grow despite the fact that we are very selective as to the curation of our marketplace and who we invite to join our ecosystem.”

    The launch of the marketplace and Catch Connect, a new mobile phone service the company rolled out in February, are expected to have a positive impact on the company’s revenue in 2018.

  • Hong Kong online shoppers using more tablets

    Hong Kong online shoppers using more tablets

    While Hong Kong’s e-commerce market accounts for less than 5 per cent of total retail sales, the behaviour of those shopping online is changing.

    According to data presented by Nielsen at yesterday’s 2018 Hong Kong Retail Summit, organised by the HKRMA, home computers are now used by fewer than half of Hong Kong online shoppers – 48 per cent last year, down 8 per cent from 2016. They are shifting to mobile phones, where 25 per cent shop (up 8 per cent in a year) and tablets, used by 11 per cent, (up 2 per cent). And 13 per cent of Hong Kong online shoppers say they used work computers.

    Michael Lee, MD at Nielsen Hong Kong and Macau, who moderated a panel discussion at the event, said expanding availability of eWallets was making online shopping easy and secure in the territory.

    “The beauty of e-commerce is convenience, so easy checkout method via eWallet and flexible pick up and return policies are a key to winning.”

    Almost half of Hong Kong consumers (46 per cent) now use an eWallet, with the number of active accounts rising 15.4 per cent in the last quarter of 2017 compared with a year earlier. The value of eWallet transactions in the last quarter of 2017 rose 27.7 per cent, “a significant indication of the growth of the ecommerce market,” said Lee.

    Buying on impulse

    Unlike offline shopping, consumers usually spend impulsively online.

    “They are usually triggered to buy online for conditional free shipping/return policy, promotions and discounts as well as easy checkout methods. Among all impulsive purchase categories, the top products are all food-related, the frequently purchased categories being snacks, breakfast cereals, bottled water, instant noodles/pasta/udon as well as ready-to-drink beverages.”

    But, he said, despite the advance in online shopping, consumers are still hesitant about shopping online, nursing concerns about delivery logistics for perishable items, their desire to inspect goods before they buy and their need for convenience and the wish to follow habits.

    “It is important for online retailers to remove the barriers to make online shopping more welcoming and promising for shoppers by providing click and collect, return policies, showroom and cash on delivery as well as unique product range, and purchase incentives,” he said.

    “Because no physical product is in hand in the virtual world, there is nothing more important than creating a better customer experience to win over potential customers. It is therefore crucial for marketers to offer an unmatched online shopping experience by creating a sense of value for money, providing a flexible shopping platform and delivery options, informing customers fully about return policies and making information freely available to customers and giving them the chance to talk about their personal experience.

    Experience is essential

    “Consumer experience is essential,” Lee said. “With online shopping become more popular, it is important for industry players to identify the key ways to win in the ecommerce market in Hong Kong. To stand out in this highly competitive market it is important to provide unique cross-screen experience as well as unique product range for consumers.”

    Meanwhile, Hong Kong online shoppers are getting older. In contrast with just a few years ago, e-commerce is no longer the preserve of the young.

    The Nielsen survey revealed that e-commerce is now relevant to people of all demographics. About 80 per cent of males and females have tried online shopping last year.

    While consumers aged 22-29 and 30-39 represent the most frequent shoppers, 67 per cent of older consumers (aged 50-64) said they had bought online last year.

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  • Google explains Hong Kong’s E-commerce Challenges

    Google explains Hong Kong’s E-commerce Challenges

    Mindset and talent are the two factors holding back the Hong Kong e-commerce sector, according to a senior Google executive.

    Speaking at the sell-out HKRMA 2018 Hong Kong Retail Summit this morning, Leonie Valentine, MD sales and operations at Google Hong Kong, said that compared with other major cities around the world, Hong Kong remains in the early stages of digital transformation.

    Here, where retail is a key driver of the economy, e-commerce accounts for just 4.68 per cent of sales.

    Yet across Asia-Pacific, 17.6 per cent of retail sales will be online this year.

    Of the small percentage of retail sales conducted online in Hong Kong, just 37 per cent is on mobile (m-commerce). In the mainland, that figure is 66 per cent and China now accounts for two-thirds of global m-commerce sales, driven by its mobile-first audience. Sales by m-commerce in China are expected to triple by 2021.

    Valentine dismissed the ubiquitous argument that the city’s dense urban layout is the reason Hong Kong e-commerce penetration is so low.

    “It’s the same argument I heard in 2011 when I arrived in Hong Kong, when I questioned why I couldn’t buy a mobile phone or groceries online here. ‘Oh, there’s no need,’ was the reply. ‘There’s a shop on every corner in Hong Kong. No one shops online.’

    “Should I tell that to the millennials in my team? They were  already buying dresses from Korea, shoes from Taobao and books from Amazon in 2011. Yet we really didn’t have as much of a digital industry here then,” said Valentine.

    “So while digital investments by some retailers have lagged behind, most consumers have actually embraced online shopping.”

    Last year, 58 per cent of non grocery sales were influenced by a digital touchpoint, compared with just 13 per cent in 2004.

    “Today’s consumer wants to compare products, features, price, benefits, etc, before they start their purchase process. Eighty-one per cent of the population is connected to the internet. Ninety-eight per cent of smartphone users go online at least once a day. So Hong Kong should rank really highly in digital integration.”

    But it doesn’t.

    “There are two things that hold back Hong Kong. Mindset – in terms of the willingness to embrace new things – and talent. One of the things we really need in Hong Kong is to have a mindset that change is good, that embracing digital is not about distrusting what you have today; it is about complementing that for the benefit of your customers.”

    Those customers are already online, said Valentine. “Everybody here is online: 98 per cent of smart phone users – and that’s everybody – are online at least once a day, from an eight-year old to an 80-year old. And yet where are we? Where are our government services today… on mobile? Where is the ability for you to be able to easily find what you are looking for online?

    “I want to buy a new couch. I can’t find one. I’m searching and I have money to spend and I cannot find a retailer in Hong Kong easily on mobile or on my desktop that has the product that I want. I find that really interesting in a city that is as modern and connected as Hong Kong.”

    Those are her two reasons for Hong Kong e-commerce lagging the rest of the region, she said. “It is very much about the mindset and it’s about having the right talent to drive a lot of the adoption of these ideas.”

    “Take a risk”

    Another speaker, Yann Bozec, president and CEO of Coach China, echoed Valentine’s comments on the mindset.

    “I love to be surrounded by millennials and listen to what they do and how they do it. Even further I am learning a lot from my eight year old daughter about digital [technology]. I think it is about listening and looking at how people, especially younger people, are engaging digitally.

    “[It’s about] being inspired by them and not being shy to take risks and try new things, including new applications.”

    Bozec said besides established giants like Google, a lot of smaller, upcoming applications are making their way onto the market.

    “Businesses who are early adopters and taking some risks can really take a lot of benefits.”

    Retail “a pillar” of Hong Kong

    The 2018 Hong Kong Retail Summit was opened by the SAR’s chief executive Carrie Lam, who congratulated the HKRMA on its 35th anniversary.

    “The retail industry is an important pillar of the Hong Kong economy, contributing about 4 per cent of our GDP and employing some 270,000 people. I am pleased to note that retail sales last year enjoyed moderate growth in both value and volume… with the forecast of a sales increase this year in the 3 to 4 per cent range.”

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  • Alibaba Eats up Daraz

    Alibaba Eats up Daraz

    Alibaba Group has acquired south Asian e-commerce platform Daraz for an undisclosed sum.

    This will make Daraz Group’s platform a wholly owned unit of the Chinese e-commerce provider, which also runs the Taobao and Tmall platforms.

    “Together with Daraz, we can empower entrepreneurs to better serve consumers in the region through our technology and expertise,” says Alibaba CEO Daniel Zhang.

    Founded in 2012, Darez has grown throughout Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal. It has 30,000 sellers and 500 brands on its platform, with 2 million products available to its 5 million customers. Its product offerings range across consumer electronics, household goods, beauty, fashion, sports equipment and groceries. It also offers multiple payment options, including COD.

    Daraz Co-CEO Jonathan Doerr says its acquisition by Alibaba will help drive further growth in its key markets, home to 460 million people, 60 per of which are 35 years and younger.

    Daraz will continue to run under its brand name after the transaction.

  • Amazon looks to UK grocery acquisition

    Amazon looks to UK grocery acquisition

    Amazon’s aim to conquer retail’s largest category, grocery, through the acquisition of bricks-and-mortar supermarkets has been further illuminated by its reported attempt to initiate takeover talks with the upmarket chain, Waitrose, in the UK.

    A recent report in The Sunday Times has suggested that one of Amazon’s most senior executives in Britain, vice president of special projects Ajay Kavan, had several “enormously informal” conversations with a director of the John Lewis Partnership, Waitrose’s parent company, about a possible deal last November. However, a request for a formal meeting was apparently shut down by the board.

    Citing an unnamed source, The Sunday Times reported that Amazon’s interest in the 350-store supermarket chain was known to the partnership’s executive team, including Waitrose’s boss Rob Collins, group finance director Patrick Lewis and head of John Lewis department stores Paula Nickolds, but chairman of the board Sir Charlie Mayfield denied the report.

    “These times are ripe for speculation, but there has been no approach to the partnership by Amazon regarding Waitrose, and nor would I expect there to be,” Mayfield told.

    Analysts have speculated that Amazon could buy a British grocery chain since it launched its online grocery delivery service, Amazon Fresh, in the market two years ago. Morrisons, Sainsbury’s and Waitrose reportedly were all considered potential targets.

    The recent £14 billion merger between Sainsbury’s and Asda has been cast as a move in part to ward off Amazon’s broader move into grocery, which many see as ramping up since the company’s US$13.7 billion acquisition of Whole Foods last summer.

    Since taking over Whole Foods’ 470 stores in the US, Canada and UK, Amazon has cut prices on staples and rolled out free two-hour delivery for online grocery orders in several cities across the US.

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  • Online retail sales growth stagnates in Philippines

    Online retail sales growth stagnates in Philippines

    The Philippines is lagging behind its neighbours in online retail sales growth, says a new report.

    Despite having the second-largest population of Southeast Asia, the Philippines has turned in the lowest B2C e-commerce sales growth figures, according to Research & Markets’ Philippines B2C E-Commerce Market 2018 report.

    Among hurdles to overcome to foster growth in the online retail sector are comparatively low internet use, few credit card holders and restricted consumer confidence in online shopping.

    Online retail sales in the Philippines are expected to rise at a double-digit rate for the next few years even in the face of challenges, says the report. An increasing share of the large population is connecting to the internet, many though mobile devices.

    M-commerce is contributing to the rise in online retail, with mobile making up about three-quarters of connections to e-commerce websites. The Philippine government has done its part to help expand online retail sales by aiming to create a favourable administrative environment.

    Leading online merchants in the Philippines include Lazada and Shopee, both with headquarters in Singapore. Local companies Ayala Group and JG Summit are expanding their online presence.

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  • Shopee teams up with DHL eCommerce in Thailand to offer a seamless delivery experience

    Shopee teams up with DHL eCommerce in Thailand to offer a seamless delivery experience

    DHL eCommerce, a division of the world’s leading logistics company, Deutsche Post DHL Group, is partnering with Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, to offer greater convenience and choice to Shopee users in Thailand. Sellers on Shopee can now access over 500 DHL ServicePoints across Thailand to drop off their parcels and have them delivered to their shoppers across Thailand. Alternatively, sellers can also arrange a pickup from DHL for door-to-door delivery service to their buyers.

    “We are thrilled to be partnering Shopee to offer greater ease, choice and control over  the online delivery experience. Shoppers’ expectations are growing with regards to their entire purchasing experience — they expect a great and seamless experience from the time they click to purchase until the goods are received. A recent report states that 60% of consumers purchased from one online merchant over another because delivery options were more convenient for their needs, highlighting the pivotal role of delivery in the overall online shopping experience[1] ,” says Kiattichai Pitpreecha, Managing Director, Southeast Asia, DHL eCommerce. 

    “Shopee is excited to work with DHL eCommerce and we are confident that our users will benefit from the suite of services and features offered by DHL. We aim to become the online shopping destination of choice in all our markets and will continue to explore synergies between the two companies to make both buying and selling on Shopee as easy and seamless as possible,” says Terence Pang, Chief Operating Officer of Shopee.

    DHL’s domestic delivery network in Thailand offers high quality delivery service and a range of other services, such as easy IT and API integration, end-to-end tracking, delivery insurance, cash on delivery and more, tailored for the booming e-commerce industry. This enables sellers and leading brands on Shopee to efficiently reach out to customers across the country. Shoppers on the other hand will benefit from the consistent quality and convenience of delivery options. DHL eCommerce will also be growing its ServicePoint footprint in Thailand to over a thousand in the coming months to offer increased touchpoints with users.

    To mark the start of the partnership, Shopee and DHL will be extending a limited period free shipping promotion. Shopee sellers can enjoy free shipping nationwide (terms and conditions apply) from now until 30 June 2018 when they select DHL as the logistics provide for their shipments.

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  • Amazon’s profit doubles

    Amazon’s profit doubles

    Amazon has reported a 43 per cent increase in net sales in the first quarter to US$51 billion, compared with $35.7 billion in the first quarter 2017, topping analysts’ expectations of $49.8 billion and boosting its share price 6 per cent in extended trading.

    Excluding the $1.6 billion favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, the e-commerce giant’s revenue increased 39 per cent compared with first quarter 2017.

    The results were driven by Amazon’s profitable cloud computing business, strong advertising sales and better-than-expected retail performance, particularly in the US, where the acquisition of Whole Foods boosted sales in that segment 46 per cent year-on-year to $30.7 billion in the quarter, according to Brian Olsavsky, Amazon’s chief financial officer, on a call with analysts.

    The company could see further gains from its US retail business, after announcing Thursday that it plans to increase the annual price of Prime memberships from $99 to $119 in May. Amazon CEO Jeff Bezos recently revealed there are more than 100 million Prime members worldwide.

    The e-commerce giant increased its operating cash flow 4 per cent to $18.2 billion for the trailing twelve months, compared with $17.5 billion for the trailing twelve months ended March 31, 2017.

    Operating income increased 92 per cent to $1.9 billion in the first quarter, compared with operating income of $1 billion in first quarter 2017. And net income was $1.6 billion in the first quarter, or $3.27 per diluted share, compared with net income of $724 million, or $1.48 per diluted share, in first quarter 2017.

    Looking ahead, the retail giant expects net sales in the current quarter to be between $51 billion and $54 billion, which would be 34 to 42 per cent higher than net sales in the second quarter 2017. This guidance anticipates a favorable impact of approximately $1.2 billion or 320 basis points from foreign exchange rates.

    Operating income is expected to be between $1.1 billion and $1.9 billion, compared with $628 million in second quarter 2017, assuming, among other things, that no additional business acquisitions, investments, restructurings, or legal settlements are concluded.
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  • Ezbuy Announces Dollar Deals With Huge Savings – For Two Days Only

    Ezbuy Announces Dollar Deals With Huge Savings – For Two Days Only

    ezbuy.sg, Singapore’s first and largest global shopping platform, today announced their ezbuy Dollar Deals,offering a variety of the lowest prices, on some of the most popular product categories. Happening for two days only from 29th to 30th April 2018, the ezbuy Dollar Deals will offer heavily discounted prices for customers looking to jump start their shopping spree, with deals going on sale at $1, $3, and $5respectively.

    Customers can look forward to huge savings from over 2,000 products across numerous categories, including men and women’s fashion, accessories, home and living, beauty, food and more. Explore ezbuy’s shopping platform for your favourite products including mobile accessories, jewellery pieces, Bluetooth speakers, patterned tees, dresses, handbags and many more. Products under the ezbuy Dollar Deals will also be at nett prices, with no shipping and agent fee for the entire campaign period.

    To date, ezbuy has not only expanded their suite of product offerings, they have also more sellers on board from China as well as on their various marketplaces including Singapore, Korea, Taiwan and USA. This means that customers now have greater access to their favourite brands and products from these countries with the ease of purchasing them from ezbuy.

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  • Justice about to launch online in Indonesia

    Justice about to launch online in Indonesia

    American girls fashionwear brand Justice, distributed by Kanmo Group, has launched an e-commerce store in Indonesia, Shopjustice.co.id.

    Kanmo has partnered with e-commerce agency SmartOSC to design and launch a user-centric experience. The new omnichannel feature enables customers to research and shop online with shipping to their homes or their nearest store for pick-up.

    The “Get a Look” feature enables customers to try experiment with different styles and share the results with their friends. There are also options to book a fitting or special consultation in-store. A blog has also been developed for users.

    With offices in Australia, Japan, Singapore, the UK, The US and Vietnam, SmartOSC is a strategic partner to such companies as Club 21, Courts, Nestle, Lotte, PayPal and Priceline Pharmacy.

    Formed in 2005, Kanmo Group has nearly 200 stores in Indonesia, mainly in the children and  baby segment, and has extended its retail portfolio to include fashion and accessories.

  • Lazada Malaysia links up with Singapore

    Lazada Malaysia links up with Singapore

    More than 100 Lazada Malaysia sellers have started marketing their products to buyers in Singapore. With support from the Malaysian Digital Free Trade Zone (DFTZ), small- and medium-enterprise owners in Malaysia can now reach out to Singapore’s population of 6 million people. Through Lazada and the DFTZ, sellers are offered more efficient cargo clearance and GST exemptions, speeding up and simplifying the overall export process.

    In the pilot phase, more than 50,000 products from such categories as fashion, health and beauty, home and lifestyle, and sports and travel are being made available to Lazada Singapore shoppers. They include items from such Malaysian brands as Carlo Rino, Pensonic and Swan.

    The move comes on the eve of Lazada’s annual birthday campaign, which offers special promotions and giveaways.
    The DFTZ is the first e-hub outside of China under the Electronic World Trade Platform. Under this roll-out, a single contract grants access to Singapore. Other Southeast Asian countries will be added later.

    The DFTZ provides a centralised bonded warehouse at KL International Airport Aeropolis, which features advanced technology for sorting, shelving, packing and logistics.

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