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Tag: etail

  • WeChat launches plan to stimulate retail growth

    WeChat launches plan to stimulate retail growth

    Chinese social-media and mobile-payment app WeChat has introduced measures aimed at boosting the recovery of the retail industry.

    The firm’s Wechat Retail Growth Plan is intended to help global businesses and brands strengthen their understanding and use of WeChat’s tools and functions to better resolve the challenges created by the coronavirus pandemic.

    The plan uses several recent services launched by WeChat, including WeChat Live for businesses – which allows them to interact with customers and generate sales via live streaming – and WeChat Work 3.0, which has become a key platform for remote working during the pandemic, connecting enterprises with customers.

    WeChat’s key services promoted by the growth plan also include 1 on 1 Consultant – which allows retailers to tap into existing user bases and manage fans as well as initiate direct conversation with followers – and WeChat Pay, which has encouraged cross-border e-commerce, local orders, and scan-and-go self-service during the pandemic.

    The firm has also launched a range of supportive policies for merchants facing challenges during the coronavirus outbreak.

    More than 1 billion Chinese consumers use WeChat’s platform.

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  • Instagram launches online food-ordering apps

    Instagram launches online food-ordering apps

    Social media platform Instagram has launched new food-ordering tools to assist small-to-medium businesses facing difficulties during the coronavirus pandemic.

    Foodservice operators can now share food order stickers in Instagram Stories and as a button on their profiles.

    Consumers clicking on the Stories sticker or profile button will be taken to the business’ food-delivery platform to complete their purchase. They can also reshare the stickers with their own followers on Instagram Stories.

    “We heard really clearly that restaurants want help staying open,” said Instagram COO Justin Osofsky. “As you’re looking at what’s happening just naturally on Instagram, a lot of people are trying to promote gift cards and the ability to support them, and a lot are using Instagram to highlight their delivery services. This is taking something that’s already happening and making it a lot easier.”

    The Instagram features were rolled out in the North American market a fortnight ago and are now being rolled out globally in multiple languages, including in Hong Kong and other Asian markets.

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  • Shopee Malaysia launching additional support package for Etailers

    Shopee Malaysia launching additional support package for Etailers

    Shopee Malaysia has announced an RM15 million (US$3.5 million) support package for sellers on its network.

    The online retail platform’s package aims to assist around 70,000 SMEs in the territory trading in a range of sectors and is an outcome of engagements between itself, retail associations, business owners and chambers of commerce.

    “These SMEs need assistance or a partner that can provide them a clear instruction set to ensure they succeed with online selling,” said Shopee’s regional MD Ian Ho, who expressed concern that smaller businesses lack knowledge critical to digitalization.

    Benefits in the package include discounts for sellers in promotional programs to help lower operating expenses for business owners.

    “Shopee has allocated RM6 million ($1.4 million) in the form of vouchers and free paid advertising credits,” said Ho. “Sellers stand to benefit from RM100,000 ($23,000) worth of dedicated campaign vouchers every week and receive up to RM400 ($92) each in free paid advertising credits to get more exposure for their products and stores.

    “Shopee wants to drive the digitalization of traditional businesses and bring them online,” he said.

    “The package will support all its sellers by creating sales and growth opportunities, reducing operational costs and facilitating sustainable development through funding, subsidies and education.”

  • Pinduoduo collects US$1.1 billion in private funding

    Pinduoduo collects US$1.1 billion in private funding

    Chinese e-commerce platform Pinduoduo has successfully raised US$1.1 billion in a private funding round.

    The firm will use the new funding, some of which was contributed by long-standing investors, to capture “additional opportunities” during a period when the world’s economy is affected by the coronavirus pandemic. Investors in this funding round were granted 2.8 percent of ordinary shares in the firm.

    The Shanghai-based business, which is a local competitor to Alibaba, saw poor fourth-quarter revenues following the impact of Covid-19, with a loss of US$250 million.

    “Pinduoduo surpassed RMB1 trillion [$140.9 billion] in annual gross merchandise value (GMV) in less than five years,” said Pinduoduo VP of strategy David Liu, “and we are confident that we will see robust growth beyond our current 585 million user base.

    “The extra funding gives us the strategic flexibility to capture opportunities to further benefit our users, as we bring interactive experiences, such as our new live-streaming features, and wider variety of value-for-money products to them.”

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  • Digital Payments in China Surge

    Digital Payments in China Surge

    China’s digital payment market grew to $8.4 trillion in the last quarter of 2019 and there are signs of still robust momentum in the months following the outbreak.

    By transaction volumes, Alipay retained the top rank with 55.1 percent followed by Tencent’s two platforms – WeChatPay and QQ Wallet – at 38.9 percent, according to a report (Mandarin only) by independent research firm iResearch.

    The remaining 6 percent where split between 1qianbao (1.4%), JD Pay (0.9%), UMPay (0.6%), 99bill (0.6%), Yeepay (0.5%), China UMS (0.3%), Sunin Pay (0.2%) and others (1.5%).

    59.8 trillion yuan ($8.4 trillion) in total digital payment representing a year-on-year increase of 13.4%

    Even in the midst of an ongoing coronavirus outbreak, the Chinese digital payment market signaled strength, the report underlined.

    Beijing-based grocery startup Meicai attracted 800,000 new users in one week on an online platform that connects farmers with consumers and restaurants. Between March 18 and 22, Alipay registered average daily purchase of nearly 1.1 million cups of milk tea via branding programs.

  • Citi Partners With Major Hong Kong E-Shopping Platform

    Citi Partners With Major Hong Kong E-Shopping Platform

    Citi is the latest in Asia to tap into the digital commerce channel amidst the coronavirus pandemic, partnering with major Hong Kong e-shopping platform HKTVmall. Citi Hong Kong’s partnership with the renowned HKTVmall will include a specialized credit card that leverages API technology to enable instant application and approval. The Citi HKTVmall Credit Card also provides other benefits such as discounts and additional points on specific days of the week, according to a Citi statement.

    The partnership is timely as HKTVmall has emerged as a major player for homebound Hong Kongers who use the platform to purchase daily necessities. The firm estimates that it has registered $155 million worth of orders in the first quarrier – double of last year – and is set to witness even more demand as it recently announced a decision to start selling surgical masks on the platform as well.

    Citi Hong Kong has long collaborated with HKTVmall to enhance customers’ spending experience through Open API,» said Lawrence Li, Citibank Hong Kong’s head of cards and unsecured lending, adding that the latest move furthers the development of smart banking.

    Citi is the latest player to leverage digital capabilities to capitalize on the scarce number of potential opportunities available in the struggling economy. Last week, DBS launched a new offering to support F&B businesses by launching a homegrown platform that will enable online ordering and delivery for its SME clients.

    The retail industry in Hong Kong is facing unprecedented challenges at the moment. With the changes in the social environment and technological advancement, Hong Kong consumers are now shifting their consumption habits to online shopping, said Ricky Wong, CEO of HKTV.

    While it is all about total customer experience for online shopping, every single detail in marketing and promotion, payment and delivery that counts.

  • JD Super boosts tea sales through live streaming

    JD Super boosts tea sales through live streaming

    Chinese online supermarket JD Super has used live streaming to achieve a 100-per-cent increase in tea sales.

    During a recent tea festival, the JD subsidiary invited social influencers and experts to participate in live streams to promote a deeper understanding of Chinese tea among enthusiasts. More than 200 live broadcasts were hosted by intangible cultural heritage tea authorities and tea experts from major brands.

    One popular video stream attracted nearly 70,000 viewers, generating sales of RMB300,000 (US$42,300).

    “JD Super has strict standards for selecting tea and provides tea brands with support in big data, traffic and operations,” said the firm. “These act as the guarantor for Chinese consumers to access high-quality tea products on JD.com.”

    The firm’s logistics arm JD Express has also developed a rapid supply chain solution for spring tea, including tea collection, packaging and delivery to tea gardens.

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  • JD offers a helping hand to boost bookstore sales in China

    JD offers a helping hand to boost bookstore sales in China

    E-commerce platform JD has helped boost bookstore sales in China during the coronavirus outbreak.

    Last month, sales of two children’s bookstores – Caldecott Bookstore and Zhongshang Children’s Books – increased by 221.6 percent and 282 percent respectively, year on year.

    According to JD, the increased bookstore sales in China are attributed to consumers staying home during the epidemic and turning to books for inspiration and encouragement.

    JD Logistics continued to deliver products to Chinese consumers as usual during the outbreak while implementing a series of disinfectant measures to ensure consumers received their books safely.

    The coronavirus outbreak has led to the temporary shutdown of offline bookstores, a shortage of employees due to the epidemic, a sharp drop in operating revenues, and a surge in pressure on store rents and staff spending. During the period, JD has been assisting partnering bookstores in putting out live broadcasts to drive traffic and promote brand awareness, thus boosting bookstore sales in China.

    “Supporting offline bookstores to do live broadcast is a good example of how JD.com has been using its resources to help offline bookstores to transform their businesses to better cater to the needs of Chinese consumers,” said JD’s offline book team operations manager Jiao Zhang, “especially when there is limited traffic in offline bookstores during the epidemic period”.

    According to the 2019–2020 China Offline Bookstore Industry Report, there are more than 70,000 bookstores in China. Last year, more than 4000 new bookstores opened in the territory. China currently has 135 book malls that are more than 5000sqm each, of which 35 are more than 10,000sqm in size.

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  • Nike E-commerce sales soar during coronavirus crisis

    Nike E-commerce sales soar during coronavirus crisis

    Nike online sales soared 36 percent in the February quarter, compensating in part for a slump in sales across Mainland China which was in lockdown for much of January and February due to the coronavirus outbreak.

    The strength of online sales gave the retail giant a buffer from stalling brick-and-mortar sales, but it is not just in China that the effect is obvious.

    In an earnings call, Nike EVP and CFO Andy Campion said online sales in every global market grew in excess of 30 percent for both its core brand and sister brand Converse in the three months to February 28. That fuelled growth in both quarterly sales and earnings greater than the company expected.

    “From a digital capability perspective, the investments we’ve made to-date are now proving to be the foundation for our resilience amid challenges and they will be strengths as we emerge,” said Campion.

    “We are still in the early innings of Nike’s digital transformation, but the capabilities we’ve already been building for the future are proving to be the strongest pillars within our business today.

    “These are times in which strong brands get stronger and we’re confident that Nike will come back stronger than ever.”

    Campion told analysts that following its China experience, the company is now seeing similar trends play out in other markets where government lockdowns are resulting in shopping malls and stores being closed to help stem the spread of the virus. Now, consumers are shopping online instead.

    Nike is responding to the digital uptake by using tools that dynamically model demand, planning, allocation and pricing and using its app and membership program to reach out to consumers and encourage them to be active at home, while in lockdown. Those mediums are also offering products and services specifically targeted to various groups of consumers or individuals.

  • JD to launch worldwide new products initiative

    JD to launch worldwide new products initiative

    Chinese e-commerce platform JD plans to help 3000 new products around the world become hot sellers, nurturing more than 1000 new global brands this year.

    The details were announced during the JD Worldwide online conference for merchants, which focused on customer growth, developing third-party business and nurturing merchants in order to support the growth of more international retail in China.

    The group also anticipates helping more than 100 suppliers to achieve RMB100 million in sales this year via monthly promotions designated to push new products.

    Last year an average of more than eight new products were sold on JD Worldwide every minute. Customers displayed a greater consumption-ability during this period, and the platform has more young consumers and consumers from lower-tier cities than in previous years.

    According to the firm, JD Worldwide will focus on building a healthy ecosystem for merchants this year with a more comprehensive after-sale service system and special support for those using JD’s fulfillment services.

    During the coronavirus outbreak, JD’s international supply chain system and continuous logistics service have enabled merchants to supply their products to customers without interruption, with some merchants seeing sales increase by more than 90 percent.

    JD currently has more than 1000 international transportation routes to support overseas merchants.

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  • China will drive massive global e-commerce transaction growth by 2024

    China will drive massive global e-commerce transaction growth by 2024

    Chinese growth will drive e-commerce transaction values up 43 per cent to US$4.8 trillion by 2024, according to new reporting by Juniper Research.

    The research showed Chinese e-commerce undergoing 62 per cent value growth over the next four years, bolstering global e-commerce value along with emerging markets in Latin America, Africa and the Middle East, among others.

    The report found that improvements in connectivity will enable the rise of e-commerce in new markets, thus urging payment providers to seek fresh revenue streams in emerging regions to offset slow growth in developed markets – with a particular emphasis on the potential of mobile payments that do not require a linked bank account, as mobile handset penetration is rising faster than banking penetration in young markets.

    “The popularity of mobile wallets is having a disruptive effect,” read material released by the firm, “with physical cards becoming less important to the payments market.”

    Accordingly, the research suggests that card networks must be proactive, by looking beyond the card, becoming involved in open banking initiatives and delivering omnichannel experiences for users.

    “Card networks must leverage their ability to invest in, and forge partnerships with, key players to gain scale in new areas, or they will fail to diversify their revenue streams and will be vulnerable to future disruption,” said research author Susannah Hampton.

    Juniper’s findings are published as Strategies for Payment Providers: Industry Trends, Opportunities & Recommendations 2020-2024.

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  • JD to issue US$212 million in coupons to boost post-coronavirus economy

    JD to issue US$212 million in coupons to boost post-coronavirus economy

    JD is collaborating with various brands to provide RMB1.5 billion (US$212 million) in promotional coupons to stimulate sales across Mainland China.

    Starting Thursday, the Chinese e-commerce company will start sending out the coupons which cover key online retail categories such as electronics and FMCG.

    The coupons are being issued to stimulate flagging demand caused by the Covid-19 epidemic. The program aims to support brands and merchants in working towards recovering their former sales and operations levels and signals a change in tack in the coronavirus recovery period to focus on restoring economic activity.

    Since the outbreak, JD has leveraged its supply chain, logistics and technology strengths partnering with a variety of stakeholders to fight against the epidemic. The firm has also launched a series of initiatives to support brands and merchants.

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  • Wirecard Expands E-commerce For Chinese Shoppers

    Wirecard Expands E-commerce For Chinese Shoppers

    Wirecard is expanding its e-commerce offer for Chinese online shoppers by helping European merchants integrate the popular payment method WeChat Pay into their online shop in just a few minutes.

    Chinese customers can now shop online or in the app of these merchants and check out via WeChat Pay, said Wirecard in a statement on Monday. This solution is ideal for European merchants seeking to enter the competitive and growing Chinese e-commerce marketplace. The end-to-end offering also includes logistics and customs support, thanks to SwissPost, as well as consulting and training so that merchants can get up and running as quickly and effectively as possible.

    As e-commerce continues to boom around the world, it is essential for merchants with global aspirations to offer localized payment methods. Our long-standing experience with Chinese payment methods enables us to support merchants that seek to break into the lucrative Chinese e-commerce market, said Christian Reindl, EVP Sales Retail at Wirecard.

    Online merchants that capitalize on this offering will see WeChat Pay integrated into their in-app checkout page. When a user chooses to pay via WeChat Pay, they are redirected to the app or mobile website, where they can easily and quickly carry out the payment.

    The digital financial technology company said the new offering can drive up conversion rates and customer satisfaction for customers in China, where digital payments are commonplace. Wirecard will process all payments and support merchants with the integration, as well as offer virtual workshops and marketing support.

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  • Digital payments and E-commerce in India rise as consumers stay home

    Digital payments and E-commerce in India rise as consumers stay home

    Digital payments in India have risen by 10 percent over the last month, despite a 30-per-cent decline in online travel spending.

    According to payments platform Razorpay, as human interactions are reducing across the country, consumer payment habits are changing. “For the first time ever, online grocery shopping climbed the ladder with a growth of 9 percent, and government and utility bill payments grew by 30 percent, reflecting precautionary measures that customers are taking by staying indoors,” the company said in a statement.

    Advisories against overseas travel and the closure of borders by a growing number of nations have led to a significant reduction in travel from India.  Last year, according to Statista, the travel sector accounted for 40 percent of digital payments in India.

    Correspondingly, digital payments for hospitality services, which typically account for 10 percent of payments processed by Razorpay, fell by 12 percent over the last month.

    Consumers fearful of running out of essential supplies during the coronavirus crisis saw the grocery category move into the top three sectors on the platform, growing 9 percent.

    UPI (19.6 percent), NetBanking (11.5 percent), and Wallets (10.3 percent) became the three leading modes of payments during the pandemic.

    “From a macroeconomic perspective, we are seeing an increase in the demand for digital payments across a few sectors – grocery, e-commerce and utility bills have gone up, given the social isolation,” said Harshil Mathur, CEO, and co-founder at Razorpay.

    “On the flip, people are having to stay indoors and not having enough spending power, this can make the overall consumer spending go down creating a lasting (negative) impact.”

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  • India’s Flipkart applies for food-retailing licence

    India’s Flipkart applies for food-retailing licence

    Indian e-commerce platform Flipkart has filed for approval from regulatory authorities to conduct food retail in the territory.

    According to a Times of India report, The Walmart-owned business has made the application with the Department for Promotion of Industry and Internal Trade with the expectation of a decision within three months.

    The firm registered an online grocery business in October last year under the brand name Flipkart FarmerMart. According to reported figures, the firm will make an investment of ₹2,500 crore (US$338,000) in the venture.

    Initial plans will see the firm delivering customer purchases via local “kirana” stores partnering with the Flipkart business.

    The firm will “focus on deep agri-supply chain investment, especially at the farm gate level and will encourage demand-driven sowing, which will help farmers produce right fruits and vegetables and get paid as per market price”.

    Flipkart competitor Amazon has held a food retail license in India since 2017.

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