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Tag: ecommerce

  • U-Freight gains further accreditation for e-commerce capabilities

    U-Freight gains further accreditation for e-commerce capabilities

    The U-Freight Group (UFL) has seen its North American E-commerce Fulfillment Centre (EFC) being named as one of the most valuable by the China Cross Border Electronic Commerce Professional Committee. Diana Peng, vice president of the Hong Kong-based freight forwarding and logistics company UFL received the award at the recent Global E-Commerce Conference held during the China International Fair for Investment and Trade in Xiamen.

    CEO, Simon Wong, commented, “U-Freight has been a pioneer in developing logistics services for the e-commerce market, which resulted in us being early-qualified by China Customs and CIQ as a licensed Cross-border E-Commerce Enterprise, as well as a Cross-border E-Commerce Logistics Service Provider. With an extremely strong e-commerce logistics set-up in China, U-Freight has committed to investing in redevelopments at a number of its warehouses around the world to better equip them to handle the logistics associated with the ever-growing global e-commerce business.”

    Wong added, “As part of that we have invested in developing enhanced facilities at our EFC in USA, which has been rewarded by our being named as one of the most valuable North America EFC by the China Cross Border Electronic Commerce Professional Committee. We have a system that can connect e-commerce/e-shop platforms with relevant customs authorities and, which delivers data transparency. This is something that is on offer at all of our facilities around the world that offer e-commerce logistics services.

    “The e-commerce industry, led by China, is a new engine of growth for the global economy, and the value of global e-commerce transactions will only rise with increasing internet penetration and recognition. China is leading the way and e-commerce trading in China reached 26.1 trillion yuan (USD3.8 trillion) in 2016. Cross-border e-commerce surpassed five trillion yuan, up 28.2 per cent, statistics from the 2016-17 Chinese E-commerce Development Report show. The report also said that by June this year, the number of online shopping customers in China reached 514 million, 10.2 per cent higher than in December 2016.”

    According to Wong, in the future, cross-border e-commerce will become a new growth point, thanks to the business environment fostered by China’s Belt and Road Initiative and structural supply side reform in the country. The coming years will also see the integration of online and offline services, as well as more intelligent and innovative online retail sales models.

    “IT technology, including cloud computing, big data, internet of things, artificial intelligence and virtual reality, will play a more important part in the whole e-commerce industry and U-Freight is positioning itself to play its part by developing e-commerce fulfilment centres that deliver cost-effective and efficient logistics services,” said Wong.

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  • Singapore m-commerce set for 33 per cent growth

    Singapore m-commerce set for 33 per cent growth

    Singapore m-commerce is set for 33 per cent growth in the next five years, according to a new report.

    However, while it leads Southeast Asia in smartphone and mobile broadband use, Singapore is nearing saturation point for its e-commerce market, says Worldpay’s Global Payments Report.

    Despite its modest population numbers, the city/state is the region’s third-largest e-commerce market with 73 per cent of internet users already shopping online. But this growth is set to slow with a modest 9 per cent expansion to reach US$6.5 billion by 2021 predicts Worldpay, which analysed e-commerce spending patterns across 36 markets on five continents.

    In comparison, China’s e-commerce market is expected to grow by 11 per cent, South Korea should see 19 per cent growth and India is set for 24 per cent expansion.

    Despite Singapore’s decelerating growth, there will be plentiful opportunities for capturing a new wave of mobile shoppers in Singapore, says the report.

    Cross-border shopping is also increasingly popular, with more than half of Singapore’s online consumers buying from international merchants.

    ‘New set of demands’

    “Retailers looking for a foothold to the future must prepare to deliver on a new set of demands in Singapore,” says Worldpay Asia Pacific GM Phil Pomford. “Online shoppers are moving beyond the desktop, and beyond country borders. Savvy and well-connected across multiple devices, they increasingly prefer to shop via mobile and want more opportunities to buy from merchants around Asia and the globe.

    “To deliver on the demands of Singaporean shoppers who expect a convenient, seamless experience no matter how they shop, merchants need to create mobile-friendly payments.”

    Pomford says merchants will be able to capture more cross-border trade by accepting a variety of currencies and payment options.

    Worldpay also found that shoppers in Singapore still overwhelming prefer to pay with credit cards (66 per cent), but alternative payment methods are gaining a foothold. Bank transfers and e-wallets are both set to nearly double in share by 2021, increasing from 11 to 21 per cent and 13 to 21 per cent respectively.

    “Our report also uncovered that 70 per cent of Singaporean internet users would shop online more if offered loyalty benefits – a great tip for e-commerce businesses looking to gain a competitive edge,” says Pomford.

    Worldpay offers three main guidelines for merchants seeking to capitalise on the e-commerce and m-commerce opportunity in Singapore and the wider Asia-Pacific region:

    1. One-click ordering: Consumers are more likely to shop more often with companies that save their payment details for one-click ordering. This makes online checkout as seamless as possible, especially via mobile apps.

    2. Payment options: Merchants should look at the most popular payments methods in each territory, and prioritise those that complement their business model. There is no one size fits all in the Asia-Pacific region, so they need to understand their best options.

    3. Cross-border trade: Merchants should ensure they have local acquiring capabilities wherever they have a legal entity. They should also offer a range of currencies at checkout, and consider local-language customer support.
    Worldpay offers technology-led payment products and services to about 400,000 clients across 146 countries and 126 currencies.

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  • eBay tests the world’s first ‘subconscious shopping experience’

    eBay tests the world’s first ‘subconscious shopping experience’

    Online shopping giant eBay and specialist retailer Saatchi Art have created and tested an experimental retail experience they claim is the world’s first subconscious shopping experience.

    It merges art and technology to reveal shoppers’ subconscious desires.

    For just 48 hours, the two retailers invited select guests to their personalised shopping event, The Art of Shopping. Guests were first hooked up to headsets incorporating EEG technology to monitor electrical activity in the brain. They then entered a special art gallery where the “mind-tracking” technology, supplied by MyndPlay, was able to detect when they were inspired by particular works. This information was used to create personalised shopping carts.

    An algorithm to match customers with artworks was developed by behavioural psychologists and designed to be used with the billion items being sold on eBay’s virtual marketplace.

    The eBay team launched the project after commissioning a report on the neuroscience of what motivates buyers. The report investigated the difference between two types of buyers – “shop-y-cats” who impulse buy to fit in with trends, and “inspired shoppers” who prefer to discover non-mainstream  items. It found that inspired shoppers could browse longer and had a prolonged emotional high at checkout.

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  • Chope funding round secures $18 million

    Chope funding round secures $18 million

    Restaurant-booking app Chope has secured S$18 million from multiple investors.

    Led by venture capital firm Square Peg Capital, the investors in the funding round include Moelis Australia, NSI Ventures and SPH Ventures.

    Chope CEO Arrif Ziaudeen says the funds will be used to improve product, increase staff numbers and enhance customer support. The Singapore-based company will also “invest heavily in further innovations” while deepening its reach into its markets across Asia.

    “Chope offers a compelling service to both restaurants and diners,” says Square Peg partner Tushar Roy.

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  • Over 500 already signed up as Amazon hosts first Aussie summit

    Over 500 already signed up as Amazon hosts first Aussie summit

    Amazon will host a marketplace seller summit in Sydney with hundreds of Australian businesses set to attend to receive advice on selling through the e-commerce giant’s platform.

    Over 500 Australian sellers already registered to sell on Amazon Marketplace in Australia.

    In a recent webinar with potential sellers, key account manager, Brittany Rinker, said the company aims to launch Marketplace by late 2017 or early 2018, though she emphasised that this is not an official launch date.

    She said Amazon is currently focused on getting businesses signed up and creating listings on Marketplace, which represents over 50 per cent of all items sold on Amazon websites globally.

    The free half-day event will provide practical guidance on setting up and growing a business online, and is being run in partnership with the Australian Retailers Association (ARA) and small business network, the SME Association of Australia (SMEA).

    “The internet and technology have the power to level the playing field between big and small businesses, empowering Australian companies, large and small, to grow their sales and their business online,” said Rocco Braeuniger, Australian country manager, Amazon.

    “We look forward to enabling local businesses to make their products available to a wide audience, not only in Australia, but also worldwide.”

    The event at Jones Bay Wharf in Sydney will feature keynote presentations from Braeuniger, and head of Amazon Marketplace in Australia, Fabio Bertola, as well as insight from experts and entrepreneurs.

    “Amazon launching in Australia marks an exciting time for Australian entrepreneurs,” said Adam Mills, CTO and founder of Australian business KoalaSafe, which has seen incremental year on year growth in sales, with Amazon Marketplace being its biggest channel. Mills will be presenting at the Seller Summit, sharing his experience and best practice.

    “For those who are selling physical products, Amazon provides a great opportunity to get these products in front of customers and we encourage businesses to take full advantage.”

    Russell Zimmerman, executive director of the Australian Retailers Association said Amazon’s arrival brings new possibilities to Australian retailers, small and large.

    Mark Flack, board member, SMEA added that the “reality is that there’s a lot of education that needs to happen amongst the small business community when it comes to being digitally savvy and using the right tools to take their business to the next level.”

  • Alibaba, New Hua Du supermarkets forming JV

    Alibaba, New Hua Du supermarkets forming JV

    To accelerate its roll-out of new high-tech retail, Alibaba Group is establishing a JV company with supermarket chain New Hua Du Supercenter.

    It will be a co-operative platform to pool their resources and respective advantages in the supply chain.

    The controlling shareholder of New Hua Du Supercenter, Newhuadu Industrial group, has transferred 10 per cent equity at lower than market price to Alibaba (Chengdu) Software Technology Company in concert with Hangzhou Hanyun Xinling Equity Investment Fund Partnership, and signed a co-operation framework agreement with Hangzhou Alibaba Zetai Information Technology Company.

    After the deal, the proportion of shares held by Newhuadu Industrial Group will decline to 45.8 per cent, and Alibaba (Chengdu) Software Technology and Hangzhou Hanyun Xinling Equity Investment Fund Partnership will own 5 per cent equity of the company respectively.

    Newhuadu Industrial Group hopes to introduce strategic investors to advance resource integration and expand business channels through taking advantage of Alibaba’s resources in e-commerce.

    New Hua Du Supercenter has also signed a co-operation framework agreement with Alibaba Zetai Information Technology. The two parties have proposed to establish a JV company to invest, open and run innovative stores under the tentative name Fujian New Box Network Technology Company, with a registered capital of RMB200 million (US$30 million). Its business scope will include technical development, technical consulting and technical service in the field of computer networks.

    New Hua Du Supercenter and Alibaba Zetai Information Technology will make capital contributions in cash, each by RMB100 million, accounting for 50 per cent of the stake.

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  • South Korean shoppers set new mobile spending record

    South Korean shoppers set new mobile spending record

    South Korean shoppers set a new record for the volume of purchases made through mobile devices during September.

    Government data says mobile transactions through smartphones and tablets reached a new high of 4.04 trillion won (US$3.5 billion) in August, up 29.5 per cent from a year earlier.  Statistics Korea says the trend is being fuelled by the growing amount of time consumers are spending on their handsets.

    Mobile transactions accounted for 61.9 per cent of all online purchases made during the month.

    Shopping by mobile phone in South Korea has been on a steep rise for years as smart devices are widening their presence in the world’s most-wired country. They are rapidly replacing computers as a means of conducting online transactions.

    Mobile bookings for travel and movie tickets surged 35.5 per cent in August from a year earlier to a record 755.8 billion won in the summer vacation season, while South Korean shoppers spent 344.8 billion won on cosmetics during the month, up 20.7 per cent.

    Food delivery services increased 38.2 per cent year-on-year to 610.3 billion won last month, while 381 billion won worth of electronic goods was sold through smartphones, up 18.3 per cent from a year earlier.

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  • Global e-commerce expected to double in next five years

    Global e-commerce expected to double in next five years

    Global e-commerce continues to revolutionise the air cargo industry, and is forecast to increase 19 per cent a year over the next five years, from US$1.9 trillion in 2016 to US$4.5 trillion in 2021, according to the annual E-Commerce Revolution Report released recently by Air Cargo Management Group (ACMG). The 2017 E-Commerce Revolution Report provides an in-depth look at the explosive growth of global e-commerce air logistics.

    The report features fresh and insightful analysis of the major marketplaces, sellers, and logistics providers that are fuelling this revolution. It is not just the best-known participants, such as Amazon and Alibaba, driving this revolution, but also global express airlines, along with players lesser known outside their home countries, such as JD.com in China and Otto in Germany. The report tracks the companies using and providing e-commerce air logistics, and offers insights on global trends in the industry.

    “E-commerce has disrupted retail and is now revolutionising logistics,” said Alan Hedge, senior director of Air Cargo Management Group. “This, our second annual report, builds on the strengths of the first and covers new territory by offering descriptions of additional e-commerce companies and additional discussion of fulfilment networks in China, the largest e-commerce market on the planet.”

    New for the E-Commerce Revolution Report this year is a web-based companion database tool for exploring relationships between major e-commerce players and logistics providers. The tool allows users to search particular logistics providers and users to isolate logistics transactions worldwide. Additionally, the tool can be used to quantify e-commerce air logistics transactions on a global basis.

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  • Amazon Global Selling to take Korean products everywhere

    Amazon Global Selling to take Korean products everywhere

    Amazon has revealed plans to help South Korean sellers make international sales via its Amazon Global Selling program.

    Amazon laid out its plans during its first press conference in South Korea dubbed the ‘Global Selling Conference’, which was held at COEX this week. The international shopping giant discussed its global selling service, ‘Amazon Global Selling,’ which allows sellers to sell items to other countries without the help of a customer service center or local distribution centre.

    According to the company, using its global selling platform can enable South Korean sellers to reach up to 300 million people in 185 countries across the world. Amazon Global Selling not only provides sellers with access to the international market but also provides help in dealing with common problems such as refunds, returns, and issues surrounding international delivery.

    Using Fulfillment by Amazon, a one-stop order processing service, sellers can use the distribution center owned by the shopping giant from which the rest of the selling process will be handled by Amazon.

    “Though domestic online sales are common, international online sales are still at an early stage in South Korea. We plan to actively help South Korean companies maximise their sales during the most eventful days of the year such as Black Friday, Cyber Monday and the Christmas season,” a company spokesperson said.

    Amazon Global Selling was first launched in 2015, and now the international company is set to begin the Korean language service of its portal ‘Seller Central’, as well as providing education programs for South Korean sellers.

    During the press conference, which was held in the presence of more than 1000 officials ranging from business partners and government officials to people interested in working with Amazon, Cindy Tai, the head of Amazon Global Selling-Asia, explained the conference was held two years after the global selling service was launched in the country, as an active community has been built only recently.

    Amazon’s move to help South Korean online sellers is set to see competition intensify in the online sales market, as similar services are already being operated by the likes of GMarket and 11street.

    With the growing number of people who wish to sell their products online in the international market in South Korea, some industry sources believe Amazon’s decision to introduce localised support programs for online sales is part of their effort to boost their competitiveness by training online businesses with potential and encouraging them to use their platform.

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  • John Gokongwei turning focus to e-commerce

    John Gokongwei turning focus to e-commerce

    Billionaire John Gokongwei, whose empire includes airlines, malls and property, is expanding the family business into online shopping.

    His Robinsons Retail Holdings is moving more of its $2.7 billion empire online with plans to triple by next year the number of supermarkets handling web orders. Other retail chains in the empire will follow.

    Rivals SM Investments Corp and Ayala Corp are already expanding their e-commerce reach, all three launching online shops or investing in services over the past year.

    The Gokongwei family is speeding up its efforts as Alibaba and Amazon move into Southeast Asia.

    But supermarkets are the main driver of revenue. Robinsons launched online sales in May and is already showing exponential growth, says president Robina Gokongwei-Pe, the tycoon’s daughter.

    “This is the way to go given the horrible traffic in urban areas like Manila and a growing market of millennials.”

  • Shoppers can create bespoke clothing online real-time

    Shoppers can create bespoke clothing online real-time

    New online made-to-order clothing shop Frilly allows customers to create bespoke clothing and see the effect in real-time.

    According to Springwise, the independent, innovation publisher, which scans the globe for the most promising innovations and new business ideas, Frilly is “an alternative for those who don’t want cookie-cutter clothing”. Unsurprisingly, it uses digital tools to transform a traditional service.

    Los Angeles-based Frilly allows customers to choose a piece of clothing and then customise almost everything about it – from hem length and color to material and style.

    Frilly co-founders Jeni Ni and Shangwei Ding were inspired to start the business while out shopping one afternoon. The pair realised that there was always one aspect of every garment that they were not happy with. They realised that if they could devise a system that would allow people to change those nagging details, then customers could be completely happy with every purchase.

    It took the pair three years designing the 3D simulation software to bring their dream to life. The Made to Measure Service uses an advanced AI algorithm to tailor garments to a client’s unique measurements. Customers choose and customise their pieces online, which are then handed over to a designer to create.

    As each variable is changed online, Frilly’s proprietary software allows the customer to see the effect in real-time on screen. A model gallery and a pop-up window provides recommendations from the designer, and demonstrates how to adjust each piece to achieve the exact look the customer wants, as well as offering a 360 degree view of the item’s details – from draping to the weave and texture of the fabric.

    Frilly’s made-to-order model also reduces waste and over-buys. Fabrics are chemical-free and the company is also committed to offering sustainable options, such as the use of recycled fabrics.

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  • E-commerce wars: fashion exodus from JD.com

    E-commerce wars are in the news again in China, with reports of a mass exodus of fashion brands from the JD.com platform.

    44 fashion brands closed their flagship stores on JD last month while launching or keeping their shops on Alibaba’s Tmall. The main brands involved included millennial niche brand JNBY, billion-yuan brand Peacebird, menswear brand GXG and fast-fashion label Heilan Home.

    Following up, state-run Xinhua News Agency has published a more detailed breakdown of the brands that left: 27 womenswear brands, seven menswear brands, seven childrenswear brands and three lingerie labels.

    JD has confirmed the exodus with a statement containing a thinly veiled reference to Alibaba as “another industry player”.

    “We believe strongly in open, fair and legal competition, but not everyone in the industry agrees,” says the JD statement. “Numerous brands have told us that another industry player is inappropriately using threats to attempt to force them to sell on only one site in China.

    “We believe brands and consumers should be able to sell and shop where they want without interference, and will continue to support the ability of brands to choose to sell on however many sites they want.”

    Alibaba denies it is pressuring brands to leave any other e-commerce platform. “Brands have full autonomy to maximise their ROI in choosing their distribution platforms,” it says in a statement.

    Meanwhile, the two e-commerce giants are going head to head in preparation for Singles’ Day, the November shopping festival introduced by Alibaba. JD has its own shopping festival in June, but both platforms offer discounts during the promotions.

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  • Online retail sales going strong in Thailand

    Online retail sales going strong in Thailand

    Thailand has seen an explosion of Internet shopping in recent years as consumers become more tech-savvy. If that is anything to go by, e-commerce in South-east Asia is taking off as well.

    Online retail sales in Thailand of everything, from washing machines and televisions to fish sauce, are growing more than 100 per cent, far outpacing purchases made at traditional stores, where sales are rising by about 10 per cent.

    That is down to a combination of stronger and faster Internet speeds in the country and the success of online merchants, such as Lazada.

    Thailand’s third-biggest mobile-phone company, Total Access Communication, estimates that Thais spend up to six hours a day on social media websites, including Facebook and YouTube.

    Thailand is the only country in South-east Asia that breaks down retail sales data into an online category, providing a useful guide of what e-commerce growth may be like in the region, according to Maybank Kim Eng.

    Bigger markets, such as China and South Korea, already have higher penetration rates of online retailing at 16 per cent and 18 per cent, respectively.

    That shows the potential for South-east Asia, where e-commerce sales could grow to 5 per cent to 10 per cent of overall retail purchases over the next five years, according to Maybank.

    Alibaba founder Jack Ma recently signed up to be a member of a government panel in Indonesia tasked with steering the e-commerce industry in South-east Asia’s most-populous nation. Macquarie Research estimates online retailing in the country can reach US$65 billion (S$88 billion) by 2020.

    The surge in e-commerce and a lack of official data means the health of the consumer in South-east Asia may be underestimated, according to Maybank. Tracking consumer patterns will involve more than just looking at official retail sales, it said.

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  • Chinese luxury e-commerce firm Secoo debuts on Nasdaq

    Chinese luxury e-commerce firm Secoo debuts on Nasdaq

    Chinese luxury e-commerce company Secoo Holding Limited on Friday rang the Nasdaq Stock Market opening bell in celebration of its Initial Public Offerings (IPO).

    Secoo’s IPO of 8,500,000 American depositary shares (ADSs) priced at 13 U.S. dollars per ADS, within the pricing range of 11.5 dollars to 13.5 dollars given by the company, for a total offering size of approximately 110.5 million dollars, assuming the underwriters do not exercise their option to purchase additional ADSs. Each two ADSs represent one Class A ordinary share.

    The company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,275,000 additional ADSs to cover over-allotments.

    Shares of Secoo, trading under the ticker symbol of “SECO,” tumbled about 19 percent to 10.52 dollars per ADS around midday Friday.

    Secoo is Asia’s largest online integrated upscale products and services platform as measured by gross merchandise volume in 2016, according to the Frost & Sullivan report.

    The company’s net revenues increased to 198.6 million dollars for the six months ended June 30 from the same period a year ago, with a net profit of 7.7 million dollars. It had net losses of 32.9 million dollars and 6.6 million dollars in 2015 and 2016, respectively.

    “China’s consumption expenditure continues to grow rapidly, with luxury spending on the upswing, which will give us tremendous development opportunities,” Secoo Founder & CEO Richard Rixue Li told.

    By 2021, China will add 1.8 trillion dollars in new consumption, according to a report by The Boston Consulting Group and AliResearch, the research arm of Chinese e-commerce giant Alibaba.

    Meanwhile, online platforms are one of the fastest growing retail channels in China. The stocks of Alibaba and JD, China’s two largest e-commerce firms, have been trading around their record highs in recent days, despite the stagnant global consumer market.

    “By listing on the Nasdaq Stock Market, Secoo will have a better international stage, which will enable us to link global brands and the Chinese consumer market more closely,” Li said.

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  • Bike Technics launching e-commerce site

    Bike Technics launching e-commerce site

    Bicycle accessories and service provider Bike Technics, which specialises in mountain bikes, is launching an e-commerce site.

    It offers products from a range of specialist brands as well as professional services. Products include mountain-bike components, helmets, handlebars, saddles, protective gear (gloves, knee pads, elbow/forearm pads), sensors and devices for workouts.

    Services include basic bicycle examinations, tuning and repairs; overhauls (full stripdown and component check), lubrication, wheel realignment, custom builds, drive-chain maintenance, for and frame cleaning, and professional advice and support.