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Tag: Online

  • New Tax Measures Trigger 300% Price Surge On Chinese E-commerce Platform In Pakistan

    New Tax Measures Trigger 300% Price Surge On Chinese E-commerce Platform In Pakistan

    Prices on the Chinese e-commerce platform, Temu, have dramatically surged in Pakistan, with increases reaching up to 300% in some cases. This substantial escalation has been reported by customers over the past week, marking a significant shift in the online shopping landscape.

    New Taxes Imposed

    These price spikes appear to be occurring in the wake of new tax measures instituted by the government. The administration last month implemented new taxes specifically targeting online sellers. These levies extend to platforms such as Temu and AliExpress, among others.

    While the companies haven’t issued an official statement providing the reasons behind the price alterations, a spokesperson for Temu pointed to external policy shifts and escalating operational costs across numerous sectors as the primary catalysts for the increases. The spokesperson stated, “We remain committed to providing access to quality products at affordable prices, while fully complying with local requirements.”

    Digital Presence Proceeds Tax Act

    The government disclosed last month that a 5% tax would be put on all goods sold in Pakistan by foreign digital platforms that lack a physical presence in the country. This initiative is part of the Digital Presence Proceeds Tax Act. The goal of this tax is ostensibly to create a more equitable commercial environment. It is said to target online platforms such as Facebook, Google, Spotify and Netflix, in addition to select local online sellers.

    Further, online retail platforms are now also responsible for paying the standard 18% sales tax applicable to local businesses in Pakistan. The government’s rationale for these tax hikes is to equalize conditions for Pakistani businesses that are already subject to both the 18% sales tax and an income tax of up to 35%.

    Concerns Over Impact

    While the government’s intent might be to create a fairer marketplace, experts have voiced concerns over the potential harm the digital tax could inflict on Pakistan’s burgeoning e-commerce market.

    Questions & Answers

    What are the new tax measures impacting e-commerce in Pakistan?
    Last month, the government introduced a 5% tax on all goods sold in Pakistan by foreign digital platforms. These platforms are also expected to pay the 18% sales tax applicable to local businesses.

    What is the rationale for these new taxes?
    The government’s intent with these tax hikes is to create a level playing field for local Pakistani businesses already paying an 18% sales tax and an income tax of up to 35%.

    What are the potential consequences of the new digital tax?
    While the intention is to foster a more equitable commercial environment, experts have raised concerns that the digital tax could harm Pakistan’s rapidly growing e-commerce market.

  • Chinese Tea Giant Chayanyuese Debuts In North American Market With Unique Beverage And Snack Line

    Chinese Tea Giant Chayanyuese Debuts In North American Market With Unique Beverage And Snack Line

    Chayanyuese, a renowned Chinese tea brand, has announced its expansion into the North American market via various e-commerce platforms. The Changsha-based tea company has launched an exclusive online store on Shopify while simultaneously opening official outlets on Amazon, TikTok Shop, and Walmart.

    Chayanyuese’s initial product assortment comprises approximately 40 items. Included in this range are intriguing snacks such as Jasmine Green Tea Flavored Potato Sticks, as well as an array of tea sets and brewing paraphernalia.

    Chayanyuese was established in 2013 and has since become a household name in China, operating more than 900 stores across the country. The company manages these outlets under its primary and subsidiary brands, which include names such as Yuanyang Coffee, Gudemoning, and Xiaoshenxian Tea House.

    The company’s unique tea beverages and snack offerings have gained significant popularity nationwide, resulting in stores being opened in major Chinese cities such as Changsha, Wuhan, and Chongqing.

    Questions & Answers

    Which e-commerce platforms is Chayanyuese using for its North American expansion?
    Chayanyuese has launched its North American venture using a dedicated online store on Shopify, in addition to official storefronts on Amazon, TikTok Shop, and Walmart.

    What types of products is Chayanyuese offering initially to the North American market?
    The brand’s initial product line includes about 40 items, featuring snacks like Jasmine Green Tea Flavored Potato Sticks and a variety of tea sets and brewing utensils.

    Where does Chayanyuese operate its stores in China?
    Chayanyuese operates over 900 stores across China, including in major cities such as Changsha, Wuhan, and Chongqing.

  • Umall Acquires Asian Grocer Online: A Strategic Leap In Multicultural Grocery Sector

    Umall Acquires Asian Grocer Online: A Strategic Leap In Multicultural Grocery Sector

    Umall, an Australian e-commerce platform, recently announced its acquisition of Asian Grocer Online (AGO) in a bid to expand its presence in the multicultural grocery sector.

    Strategic Acquisition

    This acquisition represents a significant development in Umall’s ongoing expansion efforts. The company refers to this move as a “key milestone” in its growth trajectory. As part of this acquisition, AGO’s website is currently unavailable due to system enhancements. However, the company is working towards launching a fully refurbished, unified platform that combines the strengths of both brands.

    Expanding Reach

    With the integration of AGO’s category expertise and dedicated customer base, Umall aims to solidify its leadership position in the multicultural grocery space. The company intends to broaden its reach across Australia, providing a more diverse range of products to its customers.

    New Online Asian Supermarket

    The acquisition of AGO comes on the heels of Umall’s recent launch of a new online Asian supermarket. This venture seeks to provide a broader array of culturally diverse products, all delivered straight to customers’ homes.

    Investments in Technology

    Umall attributes much of its rapid growth to its significant investments in advanced technologies such as AI, automation, and robotics. The company maintains that these technologies have enabled it to provide faster, fresher, and more efficient service in comparison to traditional retailers.

    Questions & Answers

    What does Umall’s acquisition of AGO indicate?
    This acquisition suggests Umall’s strategic plan to extend its influence in the multicultural grocery sector and solidify its leadership position.

    What is the plan following the acquisition?
    The current plan is to launch a fully revamped, unified platform that leverages the strengths of both Umall and AGO. This integrated platform aims to provide a wider array of culturally diverse products.

    What has contributed to Umall’s rapid growth?
    Umall attributes a significant part of its rapid expansion to its substantial investments in AI, automation, and robotics. These technologies, according to the company, allow it to provide faster and more efficient service than traditional retailers.

  • Shein hit with complaint from EU consumer group over ‘dark patterns’

    Shein hit with complaint from EU consumer group over ‘dark patterns’

    The BEUC, a Pan-European consumer organization, has lodged a complaint with the European Commission against Shein, an online fast-fashion retailer. The grievance centers on Shein’s use of “dark patterns”, a series of strategies designed to increase purchases via its app and website.

    Manipulative Tactics

    The tactics employed by Shein, as described by BEUC, include pop-up messages urging customers to stay on the app to avoid missing out on deals, countdown timers creating a sense of urgency to finalize purchases, and an infinite scroll feature on the app. All these methods, BEUC asserts, could fall under the definition of “aggressive commercial practices”. The consumer advocacy group further highlighted Shein’s frequent use of notifications, with one instance showing a single phone receiving 12 alerts from the app in one day.

    Agustin Reyna, BEUC’s director general, commented on the matter, stating that such tactics align with the fast-fashion trend of stimulating mass consumption through volume. The issue, according to Reyna, lies in whether Shein is willing to abolish these “dark patterns”, given their potential impact on sales numbers.

    Shein’s Response and the Role of Gamification

    Shein, in response to the allegations, stated, “We are actively collaborating with national consumer authorities and the EU Commission to demonstrate our commitment to compliance with EU laws and regulations.” The company also mentioned that BEUC declined their request for a meeting.

    Shein and its competitor, Temu, another online discount platform, have experienced a surge in popularity in Europe, partly due to their apps’ gamified features. These apps engage shoppers with games that offer the chance to win discounts and products. One of the games on Shein’s app, “Puppy Keep”, encourages users to log into the app daily, feed a virtual dog, and collect points that can be exchanged for free items. Points can be earned by browsing the app and making purchases.

    Dark Patterns Across the Industry

    The BEUC acknowledged that “dark patterns” are not exclusive to Shein, but are commonly employed by many mass-market clothing retailers. In this line, they’ve called on the consumer protection network to broaden its investigation to include other retailers. BEUC’s complaint was supported by 25 of its member organizations across 21 countries, including France, Germany, and Spain.

    Last month, the European Commission issued a notification to Shein about practices breaching EU consumer law and warned of potential fines should the company fail to address these concerns. The firm is also under review from EU tech regulators regarding its compliance with EU online content rules.

    Questions & Answers

    What exactly are “dark patterns”?
    Dark patterns are tactics used by companies on their websites or apps designed to manipulate users into making purchases or taking certain actions.

    What is the “Puppy Keep” game on Shein’s app?
    “Puppy Keep” is a game on the Shein app where users feed a virtual dog and collect points that can be used to win free items. Users can earn more points by browsing the app and making purchases.

    What actions has the European Commission taken regarding Shein’s practices?
    The European Commission has notified Shein about practices that violate EU consumer law and warned of potential fines if they do not rectify these issues. Additionally, the company is under investigation from EU tech regulators regarding its adherence to EU online content rules.

  • Thailand to tax influencers and online sellers

    Thailand to tax influencers and online sellers

    The Thai Revenue Department has urged social media influencers and online sellers to file their annual income tax by the end of March to avoid fines and penalties.

    Director-General Pinsai Suraswadi expressed concern that many young earners, including e-commerce vendors, influencers, and product reviewers, have never filed income tax returns.

    Thailand’s e-commerce platforms, such as Shopee, Lazada, and TikTok, host around 3 million online sellers, while an estimated 2 million full-time influencers and content creators generate billions in revenue. A recent survey found that many in this group, particularly younger individuals, fail to report their earnings or pay taxes.

    Pinsai warned that the Revenue Department can audit records up to five years back and that failure to file tax documents will lead to penalties. However, he reassured earners that filing errors can be corrected.

    A study by Tellscore, FutureTales LAB, and the Thailand Institute for Mental Health Sustainability (Tims) estimated that Thailand’s content creator industry contributes at least THB45 billion (US$1.25 billion) annually to the economy.

    The country has around 2 million full-time content creators, rising to 9 million when part-time creators and “micro-influencers” are included.

  • Amazon seeks to contest Temu, Shein with budget store selling items like $3 iPhone cases

    Amazon seeks to contest Temu, Shein with budget store selling items like $3 iPhone cases

    American e-commerce giant Amazon has launched Amazon Haul, an affordable e-commerce storefront which offers products priced US$20 or less.

    Items such as a $3 iPhone case or a pack of four socks for $7 are sold with a variety of options on the new store, which is advertised as offering “crazy low prices,” according to a company release.

    Over 300 million products in the main categories of clothing, home goods, jewelry and electronics are available on the store, which can be found on Amazon’s mobile app.

    Most items are $10 or less, and the company offers free shipping on orders of $25 or higher.

    The Wall Street Journal reported that Amazon Haul items will take longer to deliver because they ship directly from warehouses in China, similar to Chinese competitors Temu and Shein which have been rapidly expanding to many markets in recent months.

    Although products priced under $3 are not eligible for return, Amazon guarantees that all items have been screened for safety and authenticity.

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  • Half of Vietnamese population shops online

    Half of Vietnamese population shops online

    More than half of Vietnam’s population shopped online last year as both supply and demand in the e-commerce sector continue to boom.

    Dang Anh Dung, deputy CEO of Lazada Vietnam, told the forum on e-commerce on Tuesday that a report by Google and Temaske & Bain said around 57 million Vietnamese made online purchases last year, most of them in Hanoi, Ho Chi Minh City and Da Nang City.

    The report also asserted that Vietnam’s young population is playing an important role in the digital economy.

    Around 43% of Lazada shoppers are Gen-Zers born in 1997 or later, said the deputy CEO of the digital shopping channel that has been called “The Amazon of Southeast Asia.”

    According to Dung, this demographic in Vietnam accesses the app every day.

    On average, each individual in this young Vietnamese population bracket buys products from seven different categories, Dung told the conference. “Young people are becoming more particular with their products. They seek values and will change brands if they receive low-quality items.”

    Tran Van Trong, general secretary of the Vietnam E-commerce Association (VECOM), said Vietnam is seeing a boom in e-commerce as the number of online shopper surges with improving shopping skills and increasing purchase value.

    The rise in demand has also prompted supply surges, he said. “Millions of people are now online sellers, and the majority of them do not even own a brick-and-mortar store.”

    Businesses are evolving fast to adapt to new ways of selling products, Tand said, adding that many retail firms are responding to the changing times by issuing new policies on online shopping.

    The government has also tightened e-commerce tax collection and is punishing those who sell counterfeit products, he pointed out.

    The Ministry of Industry and Trade recently reported that Vietnam’s e-commerce gross merchandise value is growing by 16-30% a year and could reach $20.5 billion this year.

    The Google report said that Vietnam’s digital economy could reach a total value of $30 billion this year, and $45 billion by 2025.

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  • TikTok launches online shopping in the US

    TikTok launches online shopping in the US

    With over 150 million users in the United States, social media juggernaut TikTok, is embarking on a groundbreaking journey that could redefine the way we shop online.

    After months of testing, the platform officially integrates e-commerce into its social media ecosystem, offering users a unique blend of entertainment and shopping. The strategic move comes as TikTok aims to capitalize on the platform’s immense popularity and expand its business.

    Users will now discover videos and live streams in their feeds featuring clickable links that lead to product purchases, effectively transforming TikTok into a thriving shopping destination.

    The TikTok app also introduced a dedicated “shop” tab feature where businesses can showcase their products, complete with logistics and payment solutions, all integrated within TikTok.

    This strategic addition is expected to boost user engagement and drive sales as consumers can seamlessly discover and purchase products within the TikTok ecosystem in hopes of replicating the success of other Asian platforms like Shein and Temu in the US.

    As a way to create a versatile e-commerce ecosystem, the social media giant has strategically integrated its shopping services with several third-party platforms, including Shopify, Salesforce, and Zendesk.

    Overall, TikTok’s goal is clear: to empower content creators, brands, and merchants with the tools they need to create engaging and interactive shopping experiences and ease how customers make purchases on the platform.

    TikTok’s retail expansion comes amid scrutiny from governments and regulators due to concerns over data privacy and an alleged political affiliation with the Chinese state.

    With over 1 billion monthly active users (MAUs) worldwide, TikTok isn’t only focused on the U.S. and has since expanded its reach to multiple countries, including Thailand, Vietnam, Malaysia, the Philippines, Singapore, and the United Kingdom, with plans to reach $20 billion merchandise sales by the end of the year. This underscores its determination to leave a mark on the international e-commerce landscape.

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  • China’s JD beats revenue estimates despite slowing economy

    China’s JD beats revenue estimates despite slowing economy

    Chinese e-commerce firm JD.com beat Wall Street estimates for second-quarter revenue on Wednesday, as its focus on lower-priced products to attract customers amid an economic slowdown paid off.

    JD.com saw increased traffic on the back of purchases ahead of the holiday season and as people attending offices and social functions continued to upgrade their wardrobes.

    Revenue grew 7.6 percent to 287.9 billion yuan (US$39.7 billion), compared with analysts’ average estimate of 278.85 billion yuan, Refinitiv Eikon data showed.

    After China abandoned its stringent COVID-19 lockdown policies, consumption failed to rebound immediately amid a slowdown in the country’s overall economy.

    Recent official economic data has also been gloomy, with the consumer price index tipping into deflation in July.

    Retail sales rose just 2.5 percent, slowing from a 3.1 percent increase in June, despite the summer travel season.

    Analysts had expected retail sales to grow 4.5 percent.

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  • Cart Abandonment: Reducing Friction at the Point of Conversion

    Cart Abandonment: Reducing Friction at the Point of Conversion

    In the fast-paced world of ecommerce, cart abandonment has become a significant challenge for retailers. With the rise of omnichannel fulfillment and the increasing demand for fast and convenient delivery options, the complexity of the fulfillment process has escalated. As consumers’ expectations continue to soar, the importance of delivery and pickup experiences has transitioned from afterthoughts to critical factors influencing buying decisions.

    Shoppers now expect immediate access to delivery and pickup options while browsing for products, making collection convenience as crucial as other product attributes. Unfortunately, traditional order management and ecommerce systems were not designed to handle the intricacies of omnichannel fulfillment across multiple locations. Relying on dependable yet slow relational databases, retailers are limited to offering generic fulfillment timeframes, which lack accurate information during the checkout process.

    This unfortunate reality leads to poor customer experiences, resulting in approximately 7 out of every 10 online shoppers abandoning their cart. To address this pressing problem, retailers must reevaluate their fulfillment strategies and invest in technologies capable of providing real-time, accurate information. There are three key areas retailers should focus efforts to reduce friction at the point of conversion and start making successful transitions.

    Establish a unified basket

    The biggest point of friction in today’s retail customer experience is due to the loss of context when transiting between the physical and the digital. A unified cart or basket is a foundational capability that bridges this gap, providing critical connectivity across channels. Shoppers don’t see “channels” the way retailers do – they simply shop. Therefore, retailers are increasingly under pressure to ensure seamless continuity, particularly during transitions between carts and wish lists, alleviating customers from the burden of starting afresh. For brands, embracing a digital first ethos doesn’t mean giving up on physical retail, but amplifying the two, fusing them together seamlessly.

    Manhattan Associates’ 2023 Unified Benchmark for Speciality Retail report found that retailers making the most progress in minimising cart abandonment through connecting in-store and online experiences are offering increased visibility of the following in their cart view:

    1. Inventory visibility: Visibility of real-time available stock across all channels, providing product status by store. If a particular item is unavailable, customers can opt for alternative options or be notified when it becomes available again.
    2. Available promo codes: Automatically applying available promotional codes to the cart view or ensuring applicable promotions visible for shoppers to easily ‘opt in’ when viewing their cart.
    3. Integration with loyalty programs: Displaying the customer’s loyalty points and rewards within the cart provides them with the easily accessible option to redeem rewards directly at the cart stage.

    The report also found that while the majority of retailers are offering basic capabilities such as inventory visibility on a product detail page (PDP), many are yet to extend this offering to across the board, lacking visibility across the entire shopping journey.

    Add value with flexibility

    A truly frictionless shopping experience is not just about the convenience of prefilling a customer’s payment details for future transactions, but it’s also about providing customers with a variety of payment options. More often than not, customers have a preferred payment method. By offering a wide range of payment types, both online and in store, retailers are providing that extra bit of flexibility, making a consumer’s purchase decision easier. This process should be simple and convenient for shoppers to pay however they prefer, including through gift cards, loyalty points, store credit, mobile wallets, pay-later apps, store credit cards, and any combination therein. The report also revealed that 40% of shoppers prefer payment flexibility, including the ability to use a combination of modes to make a purchase.

    However, offering additional payment options has the potential to make things more complicated, therefore it’s important that retailers have the right technology in place to support a seamless checkout experience. Shoppers look for fast and convenient checkout options, with a majority of cart abandonment occurring due to less-than-ideal shopper experiences at checkout, like a multi-step process. If shoppers can quickly and easily buy what they need, when they need it, and do so using their preferred payment method, not only are they more likely to complete the purchase, but they’re more likely to keep coming back.

    Offer fast, accurate delivery promises

    If retailers can assist shoppers with important ordering and delivery-related information across the shopping journey, they increase their probability of conversion. What is the earliest I could get this item, and how? Can I order an item for in-store pick-up and another for delivery as part of the same order? Leading retailers offer shoppers a comprehensive set of delivery and pick-up options, focusing not just on speed but on flexibility to fit busy lifestyles, with 77% of shoppers reporting they prefer to have options when selecting their delivery method. They accommodate ordering complexity without compromising checkout convenience, allowing shoppers to select different delivery options for products within the same order.

    While only 15% of retailers provide the option to change fulfillment method post order confirmation, Sephora is one retailer who is enabling shoppers to get Buy Online, Pick Up in Store (BOPIS) purchases shipped home in case they are unable to pick it up from the store. With 45% of shoppers prepared to abandon a cart if they’re unhappy with the delivery methods on offer, it’s crucial for retailers to ensure the product pick-up or delivery experience is as good as their shopping journey.

    Deliver exceptional experiences

    While consumer expectations of purchasing and delivery expand, customer service and experience are arguably the most important elements to get right. Retailers must invest in technologies capable of providing real-time, accurate information to offer a seamless and efficient fulfillment process. By embracing innovation and prioritising customer-centric approaches, retailers can position themselves for long-term success in this rapidly evolving industry.

    For more information on how your retail business can reduce instances of cart abandonment, please visit: www.manh.com/en-sg

    Written by Richard Wright, Managing Director, SEA, at Manhattan Associates

  • Amazon taxes 10 million products in Vietnam

    Amazon taxes 10 million products in Vietnam

    Vietnamese vendors have sold nearly 10 million products on Amazon this year, totaling an export value over 45% more than 2021, according to a report by the American e-commerce giant.

    During the pandemic, there were “thousands” of Vietnamese vendors on Amazon, and their top-selling products were in the categories of kitchen ware, home appliances, garment and textile and healthcare.

    Several Vietnamese brands such as AnEco (maker of compostable garbage bags), Lafooco (cashew exporter), Sunhouse (home appliances manufacturer) and HMG (3D card manufacturer) have been hailed by Amazon for succeeding in their e-commerce initiatives and creating jobs for locals.

    Nguyen Le Thang Long, deputy director of An Phat, which makes AnEco products, said that sales through Amazon have surged nearly five times from 2021.

    Phung Minh Thuy, founder of HMG, said that her company receives hundreds of orders through Amazon each day.

    Vietnam ranks fifth among the top 10 markets globally in terms of e-commerce and retail sales growth at 19%, behind the Philippines, India, Indonesia and Brazil, according to market research firm eMarketer.

    Vietnam’s e-commerce exports revenue is set to rise 20% annually between 2021 and 2026, according to consultancy firm AlphaBeta.

    With a strong national policy to support exports, abundant production capacity, and rapid development of e-commerce, Vietnam is at a golden stage for online exports to take off, said Gijae Seong, managing director of Amazon Global Selling Vietnam.

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  • One in five Vietnamese spend 9 hours a day online

    One in five Vietnamese spend 9 hours a day online

    A total 22% of Vietnamese use the internet for more than nine hours a day studying, entertainment and shopping, with the majority on their smartphones, a report has found.

    This is a surge from 2020 when only 9% of respondents used the internet for more than nine hours a day, according to the Vietnam E-commerce 2022 report by the Vietnam e-Commerce and Digital Economy Agency (iDEA).

    However, there were declines in internet usage time in other segments. As many as 27% say they use the internet from three to five hours a day, compared to 31% in 2020. Besides, 23% log five to seven hours, against 27% in 2020. Most respondents access the internet on their smartphones.

    The main reason Vietnamese people use the internet are studying, watching movies or listening to music, and online shopping said the report, which surveyed 4,584 respondents nationwide.

    Nearly 75% of respondents say they shop online, while 91% use their smartphones.

    The top sales categories are “clothes, footwear and cosmetics,” “household appliances”, and “electronic devices”. Cash remains king as 73% pay cash on delivery. But there is a rise in e-wallet usage, from 23% in 2020 to 37% last year. A quarter of respondents, 24%, say they spend more than VND10 million ($422) a year shopping online.

    Reputation of an e-commerce platform is the most important factor for online consumers, according to 74% of respondents.

    Other key factors are quick delivery and promotions.

    Vietnam’s e-commerce economy is set to grow 20% to 16.4 billion this year, approaching the 25% growth achieved in 2019 before the Covid-19 pandemic.

    iDEA estimates that at least 57 million people will shop online this year, up 4% from 2021.

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  • Trivago fined $44.7 million for misleading travellers

    Trivago fined $44.7 million for misleading travellers

    Online travel booking company Trivago has been ordered to pay $44.7 million in penalties by the Australian Federal Court for misleading consumers over hotel prices.

    The court found that in January 2020, the company deceived consumers through misleading misrepresentations of hotel room rates on its website and in television advertisements.

    Trivago had used an algorithm to determine which travel booking site paid the highest cost-per-click fee and highlighted them on its website.

    Between December 2016 and September 2019, the company admitted to receiving $58 million in cost-per-click fees from offers that weren’t the cheapest choice available for a given hotel. This had caused consumers to overpay on hotel booking sites, losing out on almost $38 million dollars.

    Australian Competition and Consumer Commission (ACCC) chair Gina Cass-Gottlieb said this penalty sends a strong message not just to Trivago, but to other comparison websites.

    “The way Trivago displayed its recommendations when consumers were searching for a hotel room, meant consumers were misled into thinking they were getting a great hotel deal when that was not the case.

    “Trivago also misleads consumers by using strike-through prices which gave them the false impression that Trivago’s rates represented a saving when in fact they often compared a standard room with a luxury room at the same hotel,” she said.

    Accommodation Association CEO Richard Munro welcomed the decision of the Federal Court and added: “After surviving Covid and closed borders, the harsh reality is that many of our members rely on a portion of their bookings generated through these platforms, and can find themselves stuck between a rock and a hard place.”

    He further encouraged Australian travellers to book directly with local accommodation providers or through local travel agents.

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  • The Technologies that Changed Online Casino Gaming

    The Technologies that Changed Online Casino Gaming

    According to Statista, the global online gambling market is expected to grow to more than $92.9 billion by 2023. As of 2021, the total market size is valued at $59 billion, meaning the industry’s size will double in the next few years. So, what sustains the popularity and growth of the online casino industry? Aside from the growing interest from experienced and casual players, the casino’s popularity is due to new technologies and innovations. With new technology and innovations, players enjoy better, lucrative, and more immersive games. Here’s a look at the best technologies that redefine the online gambling landscape.

    Mobile gambling and mobile casino apps

    The use of smartphones to play online casino games is not new. But the current generation of casino apps offers players a more immersive mobile casino experience. Using these apps, players can enjoy a wide range of games from slots, table games to live dealer selections. Also, players can now choose between native apps and web apps. Both work on phones that run on the latest iOS and Android operating systems.

    AR and VR technologies that improve players’ engagement

    Augmented Reality (AR) and Virtual Reality (VR) are popular technologies that improve the overall casino experience. With these technologies, players enjoy ultra-realistic images and sounds for an immersive experience. A VR allows a player to enter a virtual casino, navigate the virtual game landscape or even enjoy the games with other players.

    Netent is one of the pioneers in the industry that invested in technology through its Gonzo’s Quest VR. Introduced in ICE Totally Gaming in London in 2017, this VR-powered game is an improvement on the classic Gonzo’s Quest online slot. Instead of a passive player, this game lets a player enter the virtual world and join the playful Gonzo in search of the lost gold. Aside from slots, these technologies are now used in designing poker and blackjack tables.

    Blockchain technology and the rise of cryptocurrencies

    If there’s one technology that’s been dominating the internet right now, then it’s cryptocurrency. Whether it’s in investing or in business transactions, these digital currencies reshape online payments. Blockchain technology is a distributed database that’s shared among nodes in a computer network. It stores information in digital format and serves as the backbone of the most popular cryptocurrencies today such as Bitcoin and Ethereum.

    With blockchain technology, digital currencies enjoy a secure and decentralized record of transactions. These are the primary reasons why many casinos today welcome and accept cryptocurrencies. By using Bitcoin, Ethereum, or other cryptocurrencies, players can enjoy fast, secure, and instant transactions in an online casino. Thanks to its utility, you players can now find crypto-focused casinos. Its adoption also gives rise to the popularity of provably fair online casino games. These are casino games that run on blockchain and guarantees players the transparency of results.

    Numerous safe and reliable payment methods

    Another development in casinos is the introduction of safe and reliable payment methods. Players can still rely on traditional payments like credit and debit cards and bank transfers, but newer ways to send cash are changing the dynamics. In top online casinos, it’s now common to find several leading e-wallets like Skrill, Neteller, and PayPal. As mentioned, another important innovation is the blockchain technology that paves the way for Bitcoin, Ethereum, and Litecoin. These digital currencies rely on peer-to-peer networks and not influenced by governments and Central Banks. Digital currencies like Bitcoin are known for their fast, instant, and secure casino transactions.

    New technologies mean improved user experience

    Online casino gambling becomes more entertaining with the use of new technologies and innovation. The games’ graphics and visuals are improved, and the math is solid. Also, these new technologies improve the players’ access to games, allowing them to enjoy these in different ways. It’s now possible to enjoy these casino games across devices and playing against a human dealer in real-time is now a reality.

    In short, both the casino players and operators are the winners in an industry that’s dominated and improved by new technologies. Casinos can leverage these technologies to boost their bottom-line, and players enjoy an improved user experience while playing for jackpots!

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  • Online market places for neighborhoods in Hanoi become popular

    Online market places for neighborhoods in Hanoi become popular

    With shops closed and delivery services facing restrictions due to the Covid-19 outbreak in Hanoi, apartment dwellers have stepped infill the supply gap by selling online.

    Thu, a clerk at a media company, who is working from home amid the social distancing, said: “I orders goods online for home delivery and pay through bank transfer. The goods are hung on my apartment door.”

    The online market, which serves Thu’s apartment block and others nearby, has over 2,000 members who buy and sell items like fish sauce, salt, cooking oil, rice, vegetables, fruits, meat, eggs, and processed foodstuffs, she said.

    Prices are slightly higher than at traditional markets, but people like Thu accept that because “we don’t have to go outside, minimizing contact and the risk of contracting the disease.”

    In the beginning many sold goods online for a little bit of extra income and even just for fun, but later, when their jobs were severely affected by the pandemic, it became their main source of income.

    “I order fresh pork from my hometown in the countryside, pack and deliver the meat to people in my residential area,” she said.Thai, a kindergarten teacher in Hanoi’s Ha Dong District, started selling foodstuff on an online market for residents of her apartment block when her kindergarten closed down.

    “Within 30 minutes of advertising pork online I often get orders for 50 kilograms.”

    Quang, an administrator of an online market of an apartment block in Cau Giay District, said the market sells essential goods with clear regulations on product quality and non-cash payment, and so has recently become busier, especially amid the Covid outbreak.

    Hanoi has gone over a month under a citywide social distancing order starting July 24, the longest such period since the novel coronavirus first appeared in the country. It has extended its social distancing order until September 6 as the novel coronavirus threat persists.

    The capital has recorded 2,909 local Covid-19 cases since the fourth coronavirus wave hit the country late April.

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