Retail News CRM

Tag: lifestyle

  • Proton aims to double exports in 2019

    Proton aims to double exports in 2019

    Proton Holdings Bhd aims to double the export of its cars to at least 3,000 units this year from 1,388 units in 2018. “In 2017, we exported 248 units. This year we want to export more,” its CEO Li Chunrong said. With the support from the Malaysian government, he said, the group could export up to 4,000 to 5,000 units this year. Asked on the group’s plans to enter the Pakistani and the Middle Eastern markets, Li responded by saying that Asean will remain as the group’s focus for its export business, but it does not intend to abandon other markets.

    “We don’t want to forget the other markets (as well). We are trying our best to enter other markets,” he added.

    On response to the Proton X70 that was officially launched on Dec 12, 2018, the group said bookings for the sports utility vehicle have exceeded 15,000 units, with over 2,000 units delivered so far.

    Earlier, Proton deputy CEO Datuk Radzaif Mohamed said the group expects to bring an initial investment of RM47 million into the country through the second set of collaboration agreements between its vendors and their overseas counterparts.

    On Oct 10, 2018, Proton hosted its first signing ceremony where eight colla-boration agreements were signed and they are expected to help bring in an initial investment of RM170 million into the country.

    Radzaif said the collaborative agreements will range from technical tie-ups and joint ventures to 100% foreign direct investments with foreign vendors investing into the Malaysian economy.

    Aside from the investments in facilities and technology, he said, the collaborations are also expected to create about 450 new jobs in the automotive industry that range from assembly to design engineering.

    Additionally, these vendors will supply parts to Proton’s manufacturing facility in Tanjung Malim, which is undergoing expansion at a cost of RM1.2 billion.

    Meanwhile, Deputy International Trade and Industry Minister Ong Kian Ming, who witnessed the signing ceremony, said the government is targeting RM15 billion from exports of local automotive components and spare parts by 2020.

    Malaysian Automotive, Robotics and IoT Malaysia (MARii) CEO Datuk Madani Sahari shared that the value of exports for automotive components and parts could have easily touched the RM12 billion mark by end of December 2018.

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  • Incheon Airport breaks record with 2018 sales

    Incheon Airport breaks record with 2018 sales

    Incheon International Airport announced record annual sales of US$2.4 billion for 2018, beating the previous record set in 2017. The performance ranks Incheon as the world’s number one airport for duty free sales in 2018, ahead of Dubai International. The latter’s anchor retailer, Dubai Duty Free, posted 2018 sales of US$2.015 billion. Sales rose 14.8% year-on-year, driven by the successful opening of Terminal 2 in 2018 and increased passenger traffic from the 2018 PyeongChang Winter Olympics. Departing passenger traffic rose 9.9% in the year, Incheon International Airport Corporation told The Moodie Davitt Report. A total of 67.7 million passengers used the airport in 2018, including 33.9 million arriving and 33.8 million departing.

    Cosmetics & perfumes continued as the leading product category with a 40% share of the mix and US$953 million in sales. Liquor and tobacco combined took second place with US$540 million (23%).

    Incheon International Airport Corporation (IIAC) said that the 2019 introduction of arrivals duty free shopping will boost the shopping offer.

    “With the introduction of the first arrival duty free in Korea, Incheon Airport will strengthen its competitiveness as the leading airport of the industry, satisfying customers through an advanced shopping environment,” IAAC commented.

    IIAC noted the retail performance of T2, which opened in January 2018. The terminal boasts outstanding beauty, liquor and tobacco flagship stores that feature exceptional design and digital and experiential components, the corporation said. Luxury boutiques such as Chanel and Valentino also played a role in the record-breaking performance.

    T1 performance was boosted by the addition of new retailers, Shinsegae Duty Free and Grand Duty Free. Both had minimised store closure periods during their respective handovers, IIAC said.

    Despite the collapse in Chinese tourism to South Korea from March 2017 driven by the THAAD row with China, duty free sales have maintained their upward curve throughout the ensuing period. Even in 2017, the nadir of the crisis, Incheon posted a 4.1% rise in duty free sales (admittedly well behind a 7.6% passenger increase).

    While Chinese tourism numbers are still well short of 2016 levels (-41.6% for the first 11 months of 2018), spending by daigou traders spurred the Korean duty free market to new heights last year. Incheon, while having a more balanced passenger spending profile than the overwhelmingly Chinese-dominated downtown stores, still benefited from that trend.

    What happens in 2019 following China’s introduction this month of a new e-commerce designed to crack down on daigou imports? That’s the question on everyone’s lips in Korean (and Asian) travel retail. Incheon International Airport Corporation will hope that a combination of a steady recovery in traditional Chinese tourism, daigou ingenuity in getting around the rules, and strong Japanese and Korean business will maintain the upward trajectory. The imminent introduction of the country’s first arrivals shops will help too.

    Higher sales in 2018 did not, of course, equate to higher profitability for the country’s duty free retailers, hurt by the high costs of attracting daigou shoppers. For Incheon International Airport, however, safely wrapped up in the safe haven of steep minimum annual guarantees, 2018 will go down as a stellar year.

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  • L’Oreal brings Cai Xukun and Eiffel Tower to Haitang Bay

    L’Oreal brings Cai Xukun and Eiffel Tower to Haitang Bay

    Known for reinventing extraordinary beauty experience, L’Oréal Paris invites all travelers to Haitang Bay Duty Free Shopping Mall for a first-of-its-kind Parisian experience.  On January 4, together with friend of L’Oréal Paris Mr. Cai Xukun (Kun), a 5-meter-high, bold red Eiffel Tower was revealed at the L’Oréal Paris pop-up, synonymous with East meets West: made-in-Paris chic and a tribute to the Chinese tradition of prosperous red.

    With over 120 million  interactions on Chinese Weibo, the special appearance of renowned young icon Kun attracted a large crowd of Chinese travelers coming to Haitang Bay.  At the event, Kun and Olivier Tessler, General Manager of L’Oréal Paris Travel Retail Asia Pacific, engraved “Kun ♥ L’Oréal Paris” on the iconic Color Riche Moist Matte lipstick, symbolizing for this powerful collaboration.

    Gallery of the event

    The pop-up iinvites holiday travelers to discover L’Oréal Paris’ accessible-luxury products for both men and women, appealing to travelers of all different types of aspirations. The pop-up  will open from January 4 until the end of the month, exclusively in Haitang Bay.

    “To be able to surprise Chinese travelers by bringing an Eiffel  Tower to Haitang Bay is definitely a first for me! L’Oréal Paris is my first choice of beauty brand, and I’m happy to share the brand story with my fans in such a vivid and striking way,” says Cai Xukun.

    “I am enthusiastic  about sharing an extraordinary Parisian experience with Chinese travelers in Haitang Bay! Together with Cai Xukun and CDFG, we are delighted to invite everyone to a celebration of every element of our brand’s DNA – Paris, beauty, creativity, fashion and diversity. Our goal is to lead the way in making beauty trends for all”, says Olivier Tessler, General Manager of L’Oréal Paris Travel Retail APAC.

  • DJI Introduces A Smart Remote Controller With Built-In Display at CES 2019

    DJI Introduces A Smart Remote Controller With Built-In Display at CES 2019

    DJI, the world’s leader in civilian drones and aerial imaging technology, continues its tradition of making aerial technology accessible to everyone by introducing a powerful new remote controller for its drones at CES 2019. The Smart Controller features an ultra-bright display screen and controls optimized for DJI drones, allowing pilots to fly the newest drones without using a smartphone or tablet. DJI will also be exhibiting its full lineup of consumer drones and handheld imaging products at its booth at CES 2019, including the new Osmo Pocket stabilized camera, and will host exciting workshops, hands-on product demonstrations and more. Attendees can find DJI in the South Hall of the Las Vegas Convention Center.


    Smart Controller Expands Pilot Options The DJI Smart Controller expands the ecosystem of accessories built around DJI’s industry leading drone technology. Using a crisp 5.5” screen built into the controller itself, the Smart Controller allows pilots to quickly get their drone in the air without the need to connect a mobile device. It can be paired with DJI’s newest drones including Mavic 2 Zoom and Mavic 2 Pro1 which use DJI’s OcuSync 2.0 video transmission system, displaying vivid images in Full HD resolution. Drone pilots can take advantage of its compact, highly portable design that has been optimized for use in direct sunlight. It features an ultra-bright display with an output of 1000 cd/m2, twice the brightness of standard smart phones. A customizable Android dashboard supports DJI GO 4, DJI Pilot2, along with various third-party apps such as editing programs. The DJI GO 4 app also touts several new features including SkyTalk, that allows pilots to livestream the drone’s camera feed to social channels including Facebook, Instagram and WeChat so that anyone can experience the thrill of flying a drone. Another new feature is DJI GO-Share which easily transfers imagery from the Controller to your mobile device. The DJI Smart Controller brings a new level of reliability when flying, with 2.5 hours of battery life and the ability to operate in adverse temperatures as cold as -4° Fahrenheit and as hot as 104° Fahrenheit.

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  • Telenor Pakistan hosts “The future of Machine Leaning & Artificial Intelligence”

    Telenor Pakistan hosts “The future of Machine Leaning & Artificial Intelligence”

    Stephen Brobst, CTO of Teradata, conducted an enlightening session on the future of Machine Learning (ML) &Artificial Intelligence (AI) at Telenor Pakistan headquarters ‘345’ in Islamabad. The session was attended by Telenor Pakistan employees and executives from across industries including Irfan Wahab Khan, CEO Telenor Pakistan and President OICCI, Haroon Bhatti, Chief Business Officer (CBO) at Telenor Pakistan, BadarKhushnood, Cofounder & VP at Bramerz, QazafiQayyum, Country Manager Teradata, Khimde Ando, CEO Mitsubishi Corporation, Brig. Tahir Mehmood, Director ISPR, AVM Faaiz Amir, Vice Chancellor Air University, Barkaan Saeed, Ex-Chairman PASHA and Retd. Brig. Saleem Ahmed Moeen, CEO SecureTech.

    The participants learned about the future of artificial intelligence, the role of emerging technologies, differences between deep and shallow learning and their application techniques, and the opportunities of using advanced analytics to create high-value outcomes.

    “We have entered a new era of analytics with machine learning and artificial intelligence algorithms beginning to deliver on the long-promised advancement into self-learning systems,” Brobst told the audience. “These approaches allow us to solve previously intractable problems with completely new attack plans.  The appetite of deep learning algorithms for vast amounts of data and the ability to derive intelligence from diverse sets of noisy data allows us to go far beyond previous capabilities in what we used to call advanced analytics,” he added.

    Brobstinformed that in order be successful with the use of new technologieswe need to fully understand their capabilities and limitations. He also stressed the need to develop new skill sets in order to harness the power of deep learning to create business value in an enterprise.

    “In our times of Siri, Alexa, and Google, Machine Learning & Artificial Intelligence are not a part of science fiction anymore; they are our reality,” remarked Irfan Wahab Khan. “For tech companies like Telenor and Terada, the real charm of AI and ML technologies is their ability to recognize patterns and synthesize large amounts of data. Telenor is not only harnessing the strength of AI and Advance Analytics for its own commercial use but is also enabling other organizations to benefit from the technology by offering incisive Market Research insights and ability to run targeted campaigns on its diverse Advertising  assets. The fact that these technologies get smarter with time as increased amounts of data is fed to them makes them acornerstone for all future technologies,” he added.

    Impressive progress is being made in ML & AI technologies globally. From self-driving and learning cars to flying drones circling the skies, the technological advancements of today could already be perceived as something out of a futuristic novel. Gartner, the world’s leading research and advisory company,also predicts that by 2020, AI will become one of the top five investment priorities for at least 30 percent of Chief Information Officers. Being the country’s technology leader, Telenor Pakistan is keeping its people abreast of the latest technological developments to realize its ambition of digitally empowering Pakistan.

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  • GreyOrange to launch new products at LogiMAT 2019

    GreyOrange to launch new products at LogiMAT 2019

    Robotics and warehouse automation company, GreyOrange, will launch its new modular sortation system and demonstrate upgraded versions of its Butler and PickPal at LogiMAT 2019, the 17th International Trade Fair for Intralogistics Solutions and Process Management in Stuttgart, Germany on 19-21 February.

    Nowadays, retailers and logistics businesses face many new kinds of complexities and challenges due to the unprecedented growth in volumes, combined with the volatility of peak periods and increased pressure to cut operational costs. GreyOrange will present a portfolio of AI-powered solutions that bring Flexible Automation to life; it reduces complexities and delivers maximum productivity, from inventory management and picking to sortation.

    Sid Chatterjee, Vice President – Products, GreyOrange, said, “The GreyOrange solution portfolio offers a strong business case for Flexible Automation. In the past year it has been adopted globally by industry-leading players in retail, 3PL and e-commerce. At LogiMAT we will demonstrate how our new solutions can help address the complexities of retail distribution. We invite everyone to visit our booth to get a hands-on demo to see how higher throughput can be achieved.”

    The new GreyOrange modular sortation system, designed for flexibility and portability, comprises modular components that deliver significantly higher throughput per unit area; it improves space utilization and reduces operating costs. The AI-enabled robotics system can be easily scaled making it more investment-friendly and usable for a range of applications across retail and logistics industries.

    In the demo of the GreyOrange Butler goods-to-person system, visitors will see how this robotics solution uses an AI-first approach to optimize order fulfillment processes from inventory management to order picking. It has been deployed in distribution centres in Japan, India, Europe and the Americas across industries such as 3PL, e-commerce, electronics and retail. Additionally, the Butler PickPal handles high-speed auto-fulfillment with AI-powered shelf picking.

    GreyMatter, the Warehouse Execution System, is the software platform developed by GreyOrange to make flexible warehouse automation a reality, and address the complexities of warehouse operations caused by ever-changing retail trends. By connecting people, processes and material more efficiently using Artificial Intelligence and Machine Learning, it provides granular control and visibility across warehouse processes and enables systems to adapt flexibly to changing business demands.

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  • John Jacobs India aims to bag Rs 500 cr revenue by March 2021

    John Jacobs India aims to bag Rs 500 cr revenue by March 2021

    Lenskart’s eyewear brand John Jacobs is looking to garner Rs 500 crore in revenue in two years as it strengthens its retail presence and expands the product portfolio. The brand, which has eight stores currently in Delhi, Pune and Bengaluru, will add six more in the next two months and aims to set up about 50 stores by March 2021. “John Jacobs has been witnessing strong growth, we expect to close this fiscal with a topline of Rs 180 crore. By March 2021, we expect our revenues to touch Rs 500 crore,” Manan Duggal, Business Head, John Jacobs said.

    According to a report, about 40 percent of the sales is driven by online channels, with the rest coming from offline stores.

    Last year, Lenskart had said it will invest US$ 4 million in John Jacobs to fuel the brand’s expansion plans.

    “We are aggressively growing our presence both in online and offline. The brand is already retailing through Lenksart outlets (over 450 in more than 100 cities). The aim is to take the number of our own stores from 8 now to 50, by March 2021, covering all major metro cities,” he said, adding that the store expansion will entail investment of about Rs 10-15 crore.

    John Jacobs is also in discussions with fashion retail chains for distribution of its products.

    “In terms of online reach, we are already there on Lenskart and Amazon.in and will soon be available on Flipkart as well,” Duggal said, adding that the brand is aggressively expanding its product portfolio as well.

    John Jacobs recently introduced a new eyewear delivery model where the brand delivers eyeglasses, fitted with powered lenses, in a 20-minute timeframe.

    The service, currently available in select stores in Bengaluru, will be expanded to Delhi and Pune as well, Duggal said.

    He further said that with the new service, the brand expects to “see 30-40 percent upside in orders”.

  • Chow Tai Fook sales slip amid consumer uncertainty

    Chow Tai Fook sales slip amid consumer uncertainty

    Chow Tai Fook sales declined by 11 per cent in same-store sales volume in both Mainland China and Hong Kong & Macau in the December quarter. However the decline in value was less, at 7 per cent in Mainland China and 6 per cent in Macau. Retail sales on the mainland rose by 1 per cent, which seems a modest rate given the company opened 259 new points of sale there during the quarter. Total retail sales value in Hong Kong fell by 1 per cent, despite five new stores opening there.

    In a stock exchange filing, the company said the decline in same-store sales came “amid an uncertain macro environment”.

    In Mainland China, same-store sales of gem-set jewellery declined by 5 per cent, while the average selling price (ASP) fell from HK$6900 in the preceding quarter to $6600.

    In Hong Kong and Macau, gem-set jewellery sales fell by 8 per cent and the ASP from $11,800 to $11,500.

    Sales of gold products in both markets was affected by a decline in volume growth as the gold price strengthened, the company reported. That drove the ASP from $7000 to $7400 in Hong Kong and Macau and from $3900 to $4300 in Mainland China.

  • Luxottica and CDFG/Sunrise launch new Miu Miu colour

    Luxottica and CDFG/Sunrise launch new Miu Miu colour

    Italian eyewear firm Luxottica Group has entered its second partnership with China Duty Free Group and Sunrise Duty Free to offer the latest Miu Miu sunglasses collection. The travel retail exclusive has opened in selected airports and other Chinese travel retail stores, trading a reinterpreted version of Miu Miu’s Noir collection. Pop-up sites and personalised backwalls have been prominently installed in the selected locations amplified by customised brand furniture and trained staff.

    “It is a privilege to partner with China Duty Free Group and Sunrise Duty Free on a second China travel retail exclusive color from Miu Miu,” said Luxottica’s travel retail director Enrico Destro. “Both retailers bring our brands to the heart of the Chinese travelling consumer, presenting the opportunity to collaborate on projects to truly capture Chinese spending power and sophisticated appetite for luxury brands, as well as respond to these consumers increasing demand for unique and exclusive products.”

    “At CDFG, our sunglasses category is growing in sophistication very quickly,” added China Duty Free Group’s fashion department director Lee Meili. “We see a large growth opportunity for the category and we will continue on our path to bring newness and exclusivity to our offer … This exclusive Miu Miu color was specially selected with Chinese travellers in mind, and has been presented in a very compelling launch package.”

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  • 7-Eleven parent sales surges: Report

    7-Eleven parent sales surges: Report

    Japanese retail giant Seven & I has reported a 15.8 per cent increase in net sales for the nine months to November. Profit rose by a less impressive 2.9 per cent. The 7-Eleven parent said its overseas convenience store business achieved an impressive 15.7 per cent increase in operating profit year on year.

    At home, its Ito-Yokado superstore managed to reduce its operating loss to ¥200 million (US$1.85 million), however its York-Benimaru supermarket division and Sogo & Seibu department stores both struggled, the latter losing ¥937 million ($8.6 million).

    Seven & I’s net sales totalled ¥4.11 trillion ($38 billion).

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  • Vietcombank’s profit skyrockets, Vietinbank’s falls

    Vietcombank’s profit skyrockets, Vietinbank’s falls

    Two of Vietnam’s largest banks reported contrasting performances in 2018, with Vietcombank’s profits rising by 63.5 percent and Vietinbank’s falling by 27 percent. Vietcombank, the largest listed bank by market capitalization, said profit before tax was VND18.02 trillion ($772.73 million) last year, up 63.5 percent over 2017. Vietcombank earlier this month raised VND6.2 trillion ($265.86 million) from selling a 3 percent stake to foreign investors.

    Singapore sovereign fund GIC bought 2.55 percent while Japan’s Mizuho Bank bought the remaining 0.45 percent to keep its 15 percent stake unchanged. Nghiem Xuan Thanh, Vietcombank’s chairman, said at a recent conference his bank had achieved all its target last year.

    Bad debts last year accounted for 0.97 percent of total loans and the bank hopes to keep it below 1 percent this year too. Vietcombank plans to have its total asset value increased by 12 percent, and its capital mobilization up by 13 percent this year.

    Vietinbank, the fourth largest listed bank by market cap, saw profit before tax slip to VND6.7 trillion ($287.3 million) in 2018 from VND9.2 trillion ($394.5 million) in 2017. Asset growth, credit growth and capital mobilization grew by 6-10 percent, lower than targeted.

    The lender’s proposal to increase charter capital has not been approved. Its chairman Le Duc Tho said increasing capital is “vital” since it has remained unchanged for years. The State Bank of Vietnam owns 65 percent of the bank, while foreign ownership has reached the 30 percent cap.

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  • Jaguar’s first electric car roars into Korea

    Jaguar’s first electric car roars into Korea

    Luxury carmaker Jaguar introduced the I-Pace, its first electric vehicle (EV), to the Korean market Monday at the Paradise City hotel in Incheon, joining a growing number of EV automakers in the country. The luxury brand’s all-electric sport-utility vehicle (SUV) sports an electric powertrain that produces up to 400 horsepower and a 333-kilometer (207-mile) driving range.

    “The I-Pace is a high-performance electric car that has battery and electric motor technology developed from our experience in electric motor sports Formula E,” said Baek Jung-hyun, CEO of Jaguar Land Rover Korea. “Jaguar will lead the future of premium electric cars through the I-Pace.”

    The vehicle, originally unveiled in the global market early last year, was delayed for launch in Korea due to the certification process, according to Jaguar Land Rover Korea.

    The automaker has prepared charging infrastructure for the product’s launch, installing 52 charging stations in 26 of its showrooms. The company has also installed 52 chargers and 26 fast-charging stations in its service centers.

    The fast-charging stations can charge vehicles to up to 80 percent in just 40 minutes.

    For maintenance, the carmaker promised to establish 10 new service centers so that there will be a total of 37 by the end of this year.

    Jaguar Land Rover Korea is also promising an eight-year or 160,000-kilometer warranty for its battery system and will install home-charging systems for free for those customers who receive their vehicles by March 31 this year.

    The luxury brand’s all-electric car enters the budding local EV market that has seen rapid growth over recent years.

    A total of 21,375 EVs were sold between January and September last year, up from 13,826 sold in 2017. The Ministry of Environment plans to have 350,000 EVs and 10,000 fast-charging stations in the country by 2022.

    Jaguar’s newest offering joins the short list of electric SUVs in Korea, which include Tesla’s Model X and Hyundai Motor’s subcompact SUV Kona EV, both released last year in the local market.

    The I-Pace will be sold from Jan. 23 with a starting price of 110.4 million won ($98,300) that climbs to 128 million won for its highest trim, the EV400 First Edition.

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  • Chun Yang Tea expands into Canada

    Chun Yang Tea expands into Canada

    Taiwanese bubble-tea brand Chun Yang Tea is launching its first store in Canada. With operations across Taiwan as well as in Mainland China, Hong Kong, Macau and Malaysia, the brand is now planning two new store locations in Toronto and one in Vancouver. While the Canadian market has been judged as saturated for bubble-tea retailers, Chun Yang claims its product is authentic and traditional, offering beverages made without any artificial milk powder to achieve a more natural taste.

    So far no information has been released as to exact launch dates, although the brand’s website claims the stores are “coming soon”.

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  • Strategies that will differentiate leaders in Indian retail in 2019

    Strategies that will differentiate leaders in Indian retail in 2019

    Indian retail industry has seen tremendous transformation and growth in the last few years and has become one of the most favourable market for global investment. The vibrant industry, hugely shaped by changing policies and consumer behaviour is adopting technology not only to understand changing consumer preferences but also to enhance shopping experiences. Innovations have defined a gradual shift in how companies approach retail altogether.

    Technology disruptions have taken all industries in its stride and the cash and carry business is no exception, despite it dealing with B2B customers. Technology has been a pivot for the creation of personalised, ‘instant’ buyer experiences. The players who leverage technology well will be industry leaders of the next decade.

    As we have stepped in 2019, here are some retail trends that will make news this year.

    Integrated Omnichannel presence for retail analytics – Omnichannel in retail has been a high talk point and some retailers have successfully expanded their presence across platforms. However, integration is the key to success in this game. Unless the platforms are integrated, they will present an inconsistent experience to the customers, creating confusion about the product, pricing and promotions.

    Besides ensuring an unswerving experience, a bigger advantage of an integrated Omnichannel approach would be to share and cross-leverage customer behaviour data. For instance, if a customer has a specific purchasing pattern for a product offline, the retailer can use these insights for targeted marketing on various digital platforms. It will not only help the shopper find what they need but also help the retailer generate higher sales through relevant product suggestions and repeat business.

    Shaping in-store experience through proximity marketing – Internet of Things has transformed many industries and has the potential to enable real-time interaction between retailers and consumers, providing them with a truly connected experience. It not only brings about a seamless experience but also enable guided discovery and shopping, using a network of beacons in store. These beacons can help retailers in marketing, mapping the consumer movement patterns and time spent at various sites, in-store messaging, building consumer loyalty etc. This will offer the opportunity to revolutionise in-store experience for consumers.

    Increasing focus towards sustainability – The consumer dynamics have evolved considerably over the last few years. They feel connected to a company or a brand that helps them contribute to social and environmental issues. The inclination of Indian consumers towards building a sustainable future will provide an edge to brands operating sustainably.

    The dynamic regulatory environment and shifting consumer preferences are making it imperative for retailers to decrease the social and environmental impact of their operations. Companies will be seen instituting practices and initiatives to address this need, and, the players who will ace this, will be the most preferred brands for consumers in the future.

    Decreasing wastage, promoting recycling and energy conservation will be certain immediate outcomes of bringing sustainable practices within business operations. Over a longer period, the impact of sustainability will run much deeper, with local community engagement and expected economic benefits.

    Employing Blockchain to enhance credibility through responsible and ethical sourcing –Blockchain technology helps retailers with core functions including supply chain management, inventory management, authenticity verification, auto-renewal and subscription services, customer data and loyalty programmes. However, the key benefits that the technology is delivering to retailers are to ensure authenticity and improve accuracy in tracing the origin of any product swiftly.

    Incorporating blockchain technology will enable retailers to track data right from sourcing stage to customer purchase while ensuring authenticity for their customers. It will also help establish sustainable sourcing practices being followed by the company, making a stronger connect with the millennial consumer.

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  • Sunshine department store Penang goes online via Shopee

    Sunshine department store Penang goes online via Shopee

    Penang department store Sunshine has launched on online shopping platform Shopee with expectations of doubling its income. According to Sunshine’s CEO Cynthia Hwang, the move to list initially 1500 products, as well as the brand’s in-house fashion label Iloveasap, on the platform would target 16 million users throughout the country while leveraging Shopee’s free shipping and Super Brand Day.

    “Further expansion into the online realm with the opening of an official store on Shopee will see a bigger contribution to the brand’s revenue growth,” she said.

    “As a whole, it is part of our aspiration to help to grow Malaysia in terms of providing more choices, better and easier accessibility for quality products and enable consumers to purchase from trusted sellers such as Sunshine Online,” added Shopee Malaysia category manager Tan Ming Kit.

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