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  • Lululemon says e-commerce investment pays off

    Lululemon says e-commerce investment pays off

    Athleisure retailer Lululemon’s investment in e-commerce — revamping its website and improving on direct-marketing efforts to draw new customers — has paid off. Lululemon has posted a 46 per cent increase in its online revenue last year, adding that it has reached an e-commerce penetration rate of 26 per cent.

    The company announced it will be investing aggressively in e-commerce in new territories and plans to open e-commerce markets in France, Japan and Germany. The retailer also said it will roll out its “order online, pick up in store” program across the US by the winter holidays this year.

    The Canada-based retailer said they will step up on their international expansion plans, saying more than half of its planned 40 to 50 store openings this year would be in overseas markets.

    Lululemon posted a 24 per cent increase in revenue to $3.3 billion for the fiscal year ending February 3 from the $2.65 billion from the previous corresponding period.

    “Lululemon has delivered one of its strongest years yet, a result of broad-based strength across the business,” said company CEO Calvin McDonald in a press release.

    “We are energised to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.”

    For the fourth quarter, Lululemon said net revenue rose 26 per cent to $1.2 billion aided by holiday sales.

    Total revenue for fiscal 2018 was $3.3 billion.

    The retailer’s profitability in Asia and Australia more than offset the operating loss in Europe. Now with the company having 21 stores in Europe, Lululemon said it was about a year and half away from breaking even in Europe.

    The company forecast the momentum would continue this year, saying they expect a net revenue to be in the range of $3.7 billion to $3.74 billion for the full fiscal 2019.

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  • Japan’s small retailers gain global e-commerce platform presence

    Japan’s small retailers gain global e-commerce platform presence

    The Japan External Trade Organisation is offering free international e-commerce site access to small-scale domestic retailers to help them sell products in 18 markets abroad.

    The initiative is expected to bolster exports for small and medium-sized businesses, taking advantage of the global popularity of Japanese products as international online trade remains on course to reach US$994 billion next year – up from $530 billion two years ago.

    Twenty four e-commerce sites, including Japan’s Rakuten; China’s Alibaba, Red and JD; and Singapore’s Redmart are signed up to participate in the program, featuring selected Japanese products on their platform without charging listing fees.

    Walmart’s Seiyu and British retailer Ocado will bring Japanese products into markets outside of Asia.

  • Walmart is taking on Amazon with its upcoming tablet

    Walmart is taking on Amazon with its upcoming tablet

    Soon, those searching for a cheap Android tablet won’t have to deal with the lack of Google Play Services found on the low-priced Amazon Fire Tablets. The line, powered by a forked version of Android, does not come with core Google apps including the Play Store. Instead, Amazon’s own app storefront is included. A tweet disseminated by XDA’s Mishall Rahman reveals that discount retailer Walmart is prepping an 8-inch Android slate that has Android 9 Pie pre-installed. The device will offer the usual bevy of Google apps and will feature the Google Play Store. Made in China, the tablet will carry Walmart’s own ONN brand, which it uses on low-priced tech accessories like headphones and cables.

    The new tablet, model number ONA19TB002, is expected to be “kid-friendly” according to a subsequent Bloomberg report. The 8-inch display will carry a resolution of 1200 x 800. Other specs included in Rahman’s tweet mention that the tablet will have a quad-core MediaTek MT8163 chipset under the hood, along with 2GB of memory and 16GB of expandable storage. The slate will have a microUSB port, and carry a 3500mAh battery.

    Walmart’s tablet has already received certification from the FCC, and could be priced under $200. A low priced tablet like this will probably not to do much to reverse the decline in shipments of the device. Strategy Analytics says that tablet shipments declined 6.2% last year. The Apple iPad remains the market share leader followed by Samsung and Amazon.

  • Majority of online shoppers check brands on Amazon

    Majority of online shoppers check brands on Amazon

    Most online shoppers compare a brand or retailer’s site to Amazon before purchasing something, according to a study released by Episerver.

    Episerver’s third annual Global Consumer Study shows that 87 per cent of online shoppers compare what they find on a brand or retailer’s site to Amazon before completing a purchase. Ninety-seven per cent won’t complete a purchase if they see incorrect or incomplete content on a brand’s website and/or mobile app.

    “Product education, personalised content and site search, purchasing ease, promotions on multiple channels, peer reviews and performance of the site itself can all make a difference,” said Ed Kennedy, senior director of Commerce at Episerver.

    According to Episerver, marketplaces like Amazon reign supreme due to their wide variety of price options, product selections and shipping features.

    The study, which surveyed 4500 online shoppers in eight countries, also showed that nearly half of online consumers, 46 per cent, said having too many options online has prevented them from making any purchase at all.

    Almost half of the people surveyed start their online purchase journey at an online marketplace, Amazon included, Kennedy said.

    Sixty per cent of consumer prefer marketplaces for their price options and over half, 58 per cent, for their product selections.

    “Knowing only a small fraction of customers do not use Amazon to compare products can certainly be a cloud over a retail operation seeking engagement and conversions on their digital properties,” Kennedy said.

    “However, knowing consumers’ mindsets that casual swiping can turn into committed shopping, retailers can drive interest and ultimately, sales, by lessening the burden of choice and doubling down on experience-driven commerce.”

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  • Prime members can get Amazon’s Fire tablets at massive discounts

    Prime members can get Amazon’s Fire tablets at massive discounts

    If you’re in the market for a significantly cheaper tablet than the likes of Apple’s 2018-released iPad Pros or the last two Surface Pro generations, the Amazon Fire 7, Fire HD 8, and Fire HD 10 should be at the top of your wishlists. By no means powerhouses, these three typically deliver some of the best possible bang for your buck starting as low as $50.

    Even better, they’re frequently on sale at hefty discounts, recently reaching as high as 30 percent off the list price of a kid-friendly Fire 7 variant. Unfortunately for parents thinking of introducing their children to mobile technology, the Fire 7, HD 8, and Fire HD 10 Kids Editions are not marked down this time around. But if you’re an Amazon Prime member, you can get the regular Fire HD 10 for a whopping 50 bucks less than usual.

    That represents a 33 percent price reduction that brings the 10-incher down to its lowest retail cost in several months. The same $50 discount applies to the 64GB configuration as it does to the entry-level 32 gig version, both of which pack a respectable 2GB RAM and quad-core processor clocked at up to 1.8 GHz. The 10.1-inch screen delivers decent 1920 x 1200 resolution while helping the battery last an excellent 10 hours of mixed use between charges.

    Naturally, the Amazon Fire HD 8 is both smaller and slightly lower-end, with a slower quad-core chipset, 1.5GB RAM, and 1280 x 800 display in tow, but the same winning 10-hour battery endurance rating. The 8-incher can be had at $30 off with a Prime membership in 16 and 32GB configurations, the former of which is thus discounted by a sweet 37 percent or so.

    Finally, the ultra-low-end Amazon Fire 7 is getting the smallest markdown of the trio, but it’s actually dropping to its lowest ever price, also as an exclusive Prime offer. The $15 discount applies to both 8 and 16GB variants, the latter of which is however listed as “temporarily out of stock” at the time of this writing. The 7-incher comes with a modest screen, 1GB RAM, and only up to 8 hours of battery life, but just like its bigger brothers, it supports hands-free Alexa interaction.

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  • Nearly half of Vietnamese shoppers buy premium products online

    Nearly half of Vietnamese shoppers buy premium products online

    Forty-eight percent of Vietnamese consumers buy premium products online from local retailers, with cosmetics the top category, a report says. Although the majority of survey respondents, 69 percent, said that they still purchase their premium products at local physical stores, the online ratio was higher than the global rate of 45 percent, says a global report by market research firm Nielsen.

    Nielsen’s Changing Consumer Prosperity study also found over a quarter of Vietnamese respondents, 27 percent, were inclined to buy online from overseas e-retailers, and 23 percent even travel overseas for these premium goods.

    Cosmetics are the top premium products that Vietnamese consumers spend their money on, according to 46 percent of respondents, following by clothing/shoes (44 percent), electronics (43 percent), body care (41 percent) and meat or seafood (38 percent).

    What Vietnamese people care most about a premium product is its high quality, according to 65 percent of respondents, and superior performance, 58 percent. Over half the respondents also seek premium products that contain environmentally friendly materials or natural/organic ingredients.

    When it comes to trying new premium products, Vietnamese rated peer recommendations as the most influential factor.Half of the respondents said that recommendations and encouragement by friends and family influenced their decision, followed by product research (46 percent), online advertising (42 percent), television advertising (39 percent) and in-store advertising (39 percent).

    In another survey released recently, Nielsen said that Vietnamese people remain among the most optimistic consumers even as global confidence fell in Q4 2018. Despite considerable increase in savings, Vietnamese consumers are still willing to fork out just as much or possibly even more money on big-ticket items such as new clothes, holidays or out-of-home entertainment, it said.

    Vietnam’s e-commerce sector has been booming in recent years. E-commerce revenue reached $2.26 billion last year, a growth of 30 percent over 2017, according to Germany-based data portal Statista. It estimated that this figure will reach $2.7 billion this year.

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  • Vietnam’ E-commerce revenue forecast to hit $15 bn in 2020

    Vietnam’ E-commerce revenue forecast to hit $15 bn in 2020

    With 53 per cent of its population using the internet and nearly 50 million smartphone subscribers, Vietnam’s e-commerce market is expected to beat the previous revenue forecast of $10 billion in 2020 and may reach $15 billion, according to experts. The country’s e-commerce sector records annual average growth of 35 per cent; 2.5 times higher than the figure in Japan, making it one of the countries with the fastest e-commerce growth in the world.

    Mr. Dang Hoang Hai, Director of the E-Commerce and Information Technology Agency under the Ministry of Industry and Trade,  as saying that retail sales from e-commerce earned $8 billion in 2018, much higher than the forecasted figure of $7 billion.

    Therefore, revenue from e-commerce in 2020 could surpass the projected $10 billion, he said.

    A report on online shopping in 2018 conducted by market researchers Q&Me shows that Shopee accounts for the lion’s share of the domestic e-commerce market, at 35 per cent, with over 700 active brands and sellers, according to the news agency.

    It quoted Mr. Le Anh Huy, Deputy General Director of the Sen Do Technology JSC, the operator of the Sendo online commerce platform, as reporting that it recorded a threefold surge in 2018 over the previous year, serving more than 10 million consumers around the country.

    Experts have said, however, that e-commerce in Vietnam still faces various obstacles, including legal issues, skills for e-commerce development, security rights for concerned parties, and infrastructure for the sector.

    Support for e-commerce development in Vietnam’s remote and mountainous regions also remains modest.

    According to experts, Vietnam should consider the establishment of a State management agency to tackle those challenges and bolster the development of logistics in line with the digital economy, or assign such tasks to a ministry.

    Vietnam should also regularly update its legal system as well as develop synchronous infrastructure and a national payment system for e-commerce development, the experts suggested.

  • Why does the Vietnam Economy lags behind?

    Why does the Vietnam Economy lags behind?

    The core of the doi moi (renovation) in Vietnam is the shift from single-ownership into a multi-ownership economy, where the central planned regime no longer exists. The 1987 Law on Foreign Investment, the 1990 Corporate Law & the Law on Private Enterprises, and the 1999 Enterprise Law have encouraged the development of Vietnam’s private economic sector.

    One of the revolutionary viewpoints of the 1999 Enterprise Law was that ‘people can do anything that are not prohibited by the laws’, rather than ‘people can only do the things allowed by the laws’, which was one of the major reasons hindering economic development in many decades before.

    Khai then set a goal that Vietnam would have 1 million businesses by 2010.Soon after the Enterprise Law took effect, the then PM Phan Van Khai set up a task force in charge of implementing the Enterprise Law, which deserved credit for removing half of sub-licenses, considered obstacles on businesses’ development way.

    However, the business environment did not improve as expected to pave the way for the development of private enterprises. The ask-and-grant scheme still existed and businesses still had to ‘ask for grant’ from state management agencies.

    News vendors also had to obtain licenses valid for 3 months and scrap dealers needed to have licenses for six months.

    Old sub-licenses were removed, and new licenses have come out. One chocolate bar must obtain 13 kinds of licenses to be able to hit the market, while farmers complain that it takes longer to obtain a license to sell chicken than to raise chicken.

    As a result, the private enterprise network is shrinking and their competitiveness is getting weaker, while Vietnam is more deeply integrating into the global economy.

    The 2017 master economic survey conducted by the General Statistics Office (GSO) found that as of January 1, 2017, Vietnam had 517,924 operating enterprises. Vietnam had 800,000 enterprises already in 2008.

    The GSO’s report on the socio-economic situation in the first 11 months of 2018 showed that the number of businesses suspending operation or awaiting to get dissolved increased sharply by 64 percent, while the number of newly established businesses increased by 4.5 percent only, compared with the same period 2017.

    The report pointed out that the number of small & medium enterprises (SMEs) increased sharply, now accounting for 98 percent of total enterprises. Of SMEs, 74-75 percent are micro businesses.

    The Communist Party Politburo Resolution No 39 released on April 17, 2015 said that the number of state officers must be cut by 70,000 a year, or 140,000 after two years, to streamline the civil service However, in reality, the number of officers has increased by 96,000.

    As a result, the ratio of civil servants per 1,000 people in Vietnam is 43, not including policemen and military officers, much higher than other countries. In the Philippines, there are only 13 civil servants, including policemen and military officers for every 1,000 people.

    Vietnam has 30 ministries and ministerial-level agencies, while Japan has 11, Singapore 15 and China 20.

    Vietnam has more than enough deputy heads of divisions. A report shows that there are 81,492 ‘deputy heads’, from deputy head of divisions to Deputy Minister, accounting for 21.7 percent of total civil servants from the central to district levels.

    The cumbersome apparatus requires a huge budget to feed it. In 2011-2015, regular spending accounted for 65 percent of total spending, increasing by 2.2 times compared with five years before.

  • Lazada strengthens its position as Singapore’s top eCommerce platform with RedMart’s move to the Lazada app

    Lazada strengthens its position as Singapore’s top eCommerce platform with RedMart’s move to the Lazada app

    With RedMart officially completing its move to the Lazada platform on 15 March, customers can now enjoy a one-stop solution for all their shopping needs. Those who buy their groceries online via RedMart now have access to more than 400,000 retailers in Lazada’s ecosystem, all within the same app and at redmart.lazada.sg. The move also makes Lazada the top eCommerce platform in Singapore in terms of traffic and product range.

    RedMart’s move is part of Lazada’s plan to become Southeast Asia’s biggest eCommerce ecosystem and offer customers the best selection of products across all categories. Combined with RedMart, Lazada has more than 165,000 grocery and supermarket offerings, more than any other grocer (retail or otherwise) in Singapore and Southeast Asia.

    James Chang, CEO of Lazada Singapore, said: “Bringing Lazada and RedMart together is an ambitious project aimed at offering Singapore customers a platform to shop for all their needs more easily and conveniently. Customers can compare similar products across all the retailers in our ecosystem, shop for complementary offerings and benefit from having more payment options, such as the Lazada Wallet.”

    “Since making the move, order volume generated via the new RedMart store on Lazada has been encouraging, with customer orders submitted in the first five days after the move (15-19 March) growing at a similar rate as on the previous platform. This shows that we have been successful in bringing together general merchandise and groceries to create a truly one-stop shopping experience. Lazada is now the top eCommerce platform in Singapore, offering more products and attracting more shoppers than any other platform.”

    Lazada will be rolling out a series of app updates over the next few months to further enhance the shopping experience for customers.

    “We are constantly looking at ways to improve the platform. We take our customers’ feedback seriously and want to ensure that we not only offer them the best selection of products, but also the best user experience,” James added.

    Lazada will launch the following RedMart features and functionalities by end-June 2019:

    1. Order Amend – allowing customers to add more items to an existing placed order;
    2. Delivery Slot Incentives – incentivising customers to consolidate deliveries within the same area and timeframe to reduce our carbon footprint;
    3. My List Features – including managing lists and stock up reminders.

    Other improvements in the pipeline include:

    1. Search Functionality – additional sorting by relevance and/or savings;
    2. Delivery Slot Reservation – allowing customers to reserve their delivery slot before they add items to their shopping cart;
    3. Order Rescheduling – allowing customers to change their delivery timing post-checkout.

    Orders made on the new RedMart on Lazada will continue to be fulfilled according to customers’ chosen two-hour delivery slot between 7AM and 10PM, seven days a week including public holidays, while orders with other Lazada sellers will be fulfilled separately. LiveUp Loyalty Programme members will continue to enjoy free shipping on RedMart for orders over $40, and cashback benefits in the form of Lazada credits which can be used for any orders on Lazada, including for RedMart items.

  • Tmall Global Unveils New Initiatives to Boost China’s Imports

    Tmall Global Unveils New Initiatives to Boost China’s Imports

    Tmall Global today unveiled two key initiatives that further Alibaba’s plans to bring $200 billion worth of international goods into China over the next five years and help businesses of all sizes enter the China market.

    The initiatives – the Centralized Import Procurement (CIP) and Tmall Overseas Fulfillment (TOF) – are import solutions offered by Tmall Global to help international brands accelerate their entry into China and capitalize on hot demand for high-quality products.

    As the biggest cross-border platform in China, Tmall Global not only helps brand  open up flagship stores on the platform, but also offers direct import services that can help bring international goods, from companies of all sizes sell into the Chinese market, benefiting Chinese consumers with an expanded choice of imported products.

    “These new initiatives on Tmall Global, supported by the entire Alibaba ecosystem and benefiting both current and future partners, are needed enhancements as we strive to meet the rising demand of Chinese consumers for high-quality international products,” said Alvin Liu, General Manager of Tmall Import-Export, at the Tmall Global 2019 Global Partners Summit.

    At the China International Import Expo in November last year, Alibaba pledged to bring $200 billion worth of international goods into China over the next five years through its platforms.

    Alibaba unveiled the CIP program today as a key part of Alibaba’s new retail business. By leveraging the six procurement centers Alibaba has set up across the globe, the program sources imported goods for all the online and offline outlets within the Alibaba ecosystem, including technology-driven grocery chain Freshippo (also known as “Hema” in Chinese), Tmall Supermarket and Intime Department Store. The program is a quick and low-risk way for international brands to enter China, allowing them to reach the nearly 700 million active users on Alibaba platforms.

    TOF is a consignment solution that allows brands to place a small batch of products at one of the TOF centers to be sold on the Tmall Global platform. This gives businesses around the world a chance to try out and fine tune their product assortment before making a full entry into China. TOF centers are currently available in Japan, South Korea and the US, with plans to expand into Europe later this year.

    To support these new initiatives, Alibaba’s smart logistics network, Cainiao, will continue to expand its network of bonded warehouses in China, with an aim to triple its total size to three million square meters in three years.

    “Over the years, Tmall Global has added a full suite of innovative and value-added services to help overseas brands succeed in the China market, including plugging them in to the entire Alibaba economy. The consumer insight from our ecosystem provides Tmall Global partners a complete view of their customers’ engagements even if they do not have operations in China. These market entry and in-market expansion programs are our key differentiators and have created unique benefits for international brands,” said Liu.

    Tmall Global data shows China’s demands for imported goods is gaining strong traction across age groups, regions and categories. Those born after 2000, or “Generation Z,” is the fastest-growing consumer group on the platform. The platform is attracting more shoppers in less developed regions, and Tmall Global has successfully propelled the growth of three categories: anti-hair loss products, beauty-from-within products such as collagen drinks and trendy footwear in 2018.

    China’s “Generation Z” is also fueling demand for pet products and beauty devices. In 2018, the number of pet-related brands on Tmall Global doubled from the previous year, and sales of beauty devices on the platform also quadrupled from a year earlier.

    Recognizing young Chinese consumers’ love for content, Tmall Global will continue to offer brands a raft of content-generating tools to boost brand awareness. By tapping into Alibaba’s own digital-media channels, such as Taobao Livestream, brands can directly speak to Chinese consumer through multiple touchpoints, including livestream services, videos and testimonials by popular influencers and key opinion leaders.

    According to Chinese data-analytics firm Analysys, Tmall Global is the biggest cross-border platform in China. The platform offers Chinese consumers over 20,000 overseas brands and over 4,000 product categories from 77 countries and regions.

     

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  • Thinking about creating an e-commerce shop in Asia?

    Thinking about creating an e-commerce shop in Asia?

    Thinking about how to create your e-commerce store in Asia? This exclusive event has all your answers.

    Moni, a digital commerce and brand experience agency, providing an end-to-end suite of e-commerce services in the region, is set to take centre stage on April 2 in Central, Hong Kong.

    Moni, with more than 12 years of experience of delivering digital-commerce experiences, joins together with Magento – the world’s No 1 e-commerce platform – to host an exclusive event to teach merchants how to kickstart and grow their online store. The insightful event will also explore the best practices of ever-evolving online shopping experiences. Moni is one of the few Certified Magento Partner Agencies in Asia.

    Who should attend?

    Retailers, B2B companies, and brands who are looking to expand their online presence and reach through e-commerce, or who are interested in understanding the nuances of Magento platform.

    Join the conversation and network with knowledgeable community members who will help you grow your business to the next level. The event will help you discover why Magento is right for your business, how to drive traffic and sales to your e-commerce store, with some of the best practices detailed along with case studies to learn from.

    The event hosts developers, system integrators, subject-matter experts, merchants, service providers, speakers and technology partners from Hong Kong and Singapore under one roof. Moreover, the event will also host an interactive talk session enabling attendees to get the queries answered in real-time.

    What will you gain?

    The session will equip attendees with a broad understanding of the Magento platform and its benefits such as modernised technology stack, better performance and scalability, smooth customisation, seamless integration and minimised testing efforts.

    David François, MD at Moni, will direct the audience through several successful e-commerce projects in Asia. For more than 20 years he has specialised in helping brands create digital customer experiences that drive tangible results and outcomes.

    Mel Lim, enterprise sales manager at Magento, comes from Singapore, and will share details about the full suite of Magento capabilities. She has a decade of experience working with brands across Asia Pacific on their digital-transformation journeys, specialising in commerce customer experience.

    Each merchant today can capitalise on commerce system flexibility, buying patterns, maximising gross margins, driving innovation and meeting end-to-end customer expectations.

    To attend this exclusive event, click here to RSVP.

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  • Afterpay starts cross-border payments

    Afterpay starts cross-border payments

    Buy now, pay later provider Afterpay is enabling shoppers to make cross-border payments through the service, following a successful trial.

    The feature means that businesses that offer Afterpay at checkout will now be able to offer the payment method to customers in other countries where Afterpay is active.

    The feature is initially limited to Australian and New Zealand businesses, where a combined 2.7 million people use Afterpay, but will eventually be extended to include businesses in the US and later the entire Afterpay network.

    “We are confident that [this] will add value to our retail partners, and open up the opportunity for them to seek and delight new customers from different countries,” Afterpay chief executive Nick Molnar said.

    “Customers will be able to pay directly in their currency and not be hit with any additional foreign exchange fees after the payment is processed.”

    The payment provider also will remove the complexity of foreign exchange, through a proprietary global payments solution that allows funds to be settled in their country of origin.

    Afterpay’s support for cross-border payments is expected to be a boon for online retailers looking to grow their sales outside of the domestic market.

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  • Instagram users can now buy items from ads inside the App

    Instagram users can now buy items from ads inside the App

    Instagram is taking its Shopping ads one step further by making it possible for people to buy the products in the ads without leaving the app.

    The feature, called Checkout on Instagram, is currently being tested in a closed beta program by nearly two dozen businesses and is only available to users in the US.

    Retail News has asked for details about if and when the feature will be available outside the US but had not received a reply at the time of this writing.

    Adidas, Burberry, Dior, H&M, Michael Kors, Nike, Outdoor Voices, Uniqlo and Zara are among the 23 fashion, beauty and accessories brands now rolling out the feature. Others will be added in future, according to Instagram, which is owned by Facebook.

    When users tap on a product in a Shopping ad from one of these businesses, they now see a “Checkout on Instagram” button. By tapping the button, they can select the size and colour of the item they want and enter their payment and shipping details to purchase.

    Users receive notifications about shipment and delivery within the Instagram app, and the platform saves all their information for future purchases.

    In the past, if users wanted to purchase a product linked to a Shopping ad, they were redirected to the brand’s website. The new feature removes this step and – crucially for Instagram – keeps consumers in the app.

    “Social selling is really taking shape both in Australia and globally and it’s great to see Instagram leading the way through the next stage of the social selling journey. Giving consumers the option to complete a purchase right then and there in the app will simplify the shopping process and allow brands to connect more easily with shoppers,” said Jordan Sim, group product manager at BigCommerce, an e-commerce platform that has been active in offering integrations with Shopping on Instagram to its users.

    “We’ve seen our merchants both globally and locally in Australia have a great deal of success using BigCommerce’s integration with Shopping on Instagram and are looking forward to unlocking the power of this new integration for our Aussie retailers in the near future. We know the value of simplifying the checkout process to drive sales and this new function on Instagram will facilitate just that.”

    Many brands have said that Shopping ads drive sales, but there’s a trade-off: visibility and control over their customer data. As Instagram continues to make the purchasing process more seamless – that is, takes control of the process – some businesses will undoubtedly question whether the trade-off is worth it.

    It is unclear whether the Checkout feature applies to Shopping posts in Instagram Stories, or only to posts in the feed. Last June, Instagram revealed that of the 500 million people using Instagram every day, 300 million use Stories every day.

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  • V-MORE announces planned Thailand expansion

    V-MORE announces planned Thailand expansion

    V-MORE, an e-commerce supply chain management platform, has revealed its intention of expanding into Thailand.

    V-MORE aims to recruit new Thai e-commerce merchants as part of its expansion strategy and has rolled out onboarding programs for new merchants and users.

    V-MORE is a one-stop marketplace where consumers can shop and be rewarded at over 500 marketplace and shopping sites including leading online brands, hotel and flight booking sites, technology as well as food and beverages merchants. Thai merchants can participate in its e-commerce program and increase their exports to other countries in Asia and beyond.

    “We are pursuing a plan of expansion and hope to achieve revenue growth through mass adoption by users and merchants in our ecosystem. Thailand is fast becoming the leading e-commerce market, and we seek to increase our user and merchant base through user incentive programs, brand awareness and marketing programs,” said Sir Eldee Tang, CEO and Founder of Noble Vici Group.

    According to research, there are more than 57 million internet users in Thailand who are well-versed with digital technologies, mobile and e-commerce. The market is valued at $3.5 billion and is expected to generate revenue growth rate of 13.2% annually, reaching $5.8 billion by 2022.

    “We look forward to new local merchants to come on board our platform and welcome sellers and buyers to experience the online marketplace for the first time,” Eldee added.

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  • Furla Exceeds 500 Million

    Furla Exceeds 500 Million

    Turnover of the storied Italian leather goods brand increased to 513 million euros. Over the course of the fiscal year, the company made significant investments to strengthen its supply chain and technology – and began 2019 with the launch of its new sneaker collection

    Furla Group continues to grow: over the past four fiscal years, it has doubled its turnover, hitting 513 million euros in 2018, a 5.2% increase at constant exchange over 2017 (or a 2.8% increase at current exchange).

    Analyzing sales by geographic area and at constant exchange, the Asia Pacific region shines, with an 18.2% year-on-year increase in 2018; it now accounts for 26% of total turnover. The United States, meanwhile, saw an increase of 13.2%, and now accounts for 8% of total turnover. Japan remains the brand’s leading market (22% of total sales), and sales there were up 3.6% compared to 2017. The EMEA region, which represents 44% of global turnover, maintains its market position.

    Furla Group continues to seek direct control of its brand distribution through a strengthening of its mono-brand stores, which produced 70% of turnover in 2018. Direct distribution, combined with multi-brand sales points and franchising, allows Furla to have a far-reaching presence in 98 countries worldwide: its 490 mono-brands (285 directly owned, 163 franchisees and 42 travel retail doors) are in the most prestigious international shopping locations. Over 1,200 select multi-brands and department store corners complete the company’s distribution network.

    Of particular note is the travel retail sector, which is in continuous evolution and in 2018 registered a 16.2% increase over 2017, accounting for 7.3% of the Group’s turnover through its sales at 293 doors, from boutiques, corners, shop-in-shops, aircraft and cruise ships, across 64 countries.

    The company paid special attention to its direct e-commerce platform, where, thanks to repeated investments, there was a substantial turnover increase in 2018: 45.7% over the previous year, at constant exchange.

    Furla Group is focused on solidifying the wild growth it has experienced over the past several years. The company has directed major resources toward strengthening the supply chain, as well as systemically integrating countries with direct and indirect distribution networks into Furla’s corporate culture and technology.

    The supply chain, which is key to guaranteeing the quality and timeliness of manufacturing, has recently benefited from the company’s adoption of a more evolved and high-performing computer system, as well as financial tools that free up resources so that suppliers can invest in bettering the manufacturing cycle.

    After years of geographic expansion across the globe, the Group is now focused on a more selective development and on categories of merchandise that are complementary to its core business: in February of this year, during Milan fashion week, Furla introduced its new sneaker collection, supported by a series of important 360° marketing activities.

    Furla has further strengthened investment in its marketing operations, underlining its particular attention to digital communication and social channels, which have shown an important increase of followers (+64% versus 2017 on Instagram and WeChat), while maintaining one of the highest engagement rates (1,59%) within the fashion luxury category.

    Furla Group’s continuing investments in human resources have long allowed it not only to add jobs, but also to provide a better quality work life at the company and incentivize employees through its corporate welfare system “Furla for You.” This initiative has been recognized two years in a row for its excellence, with Furla listed among Italy’s Top Employers.

    “We are highly satisfied with these financial results, which we achieved at a challenging time for the international market,” said Alberto Camerlengo, Chief Executive Officer of Furla Group.  “We’ve invested significant financial resources in managing the unrestrained growth the company has experienced over the last several years, from acquiring total control of our retail distribution network in China, Hong Kong,Macau and Singapore, to strengthening our supply chain. Our single, fundamental goal has always been to guarantee continuity and excellence in all of Furla’s creations.”