Retail News CRM

Tag: Sales

  • South Korean E-Commerce Under Pressure

    South Korean E-Commerce Under Pressure

    Mounting losses in the South Korean e-commerce industry are calling local business models into question. Competitive pricing and fast delivery capacities have made the industry an ascendant phenomenon in the territory, with the purchase of a whole spectrum of consumables now possible via mobile phone. The industry hit a record high of KRW111.8 trillion (US$98.4 billion) in transactions last year, putting the economy among the top five e-commerce markets worldwide.

    But gigantic operational losses have emerged out of stiff competition on price and logistics set-up costs. Korea’s top e-commerce firm Coupang shattered its own records with KRW4.42 trillion ($3.8 billion) in sales last year, but made a staggering KRW1.1 trillion ($950 million) operational loss.

    While Coupang’s deficits have been widening for nine years, CEO Kim Beom-seok stubbornly insists the losses are planned and says investment will continue.

    “We have pushed for massive investment to impress our customers,” said Kim, “and will continue to aggressively invest in technology and infrastructure.”

    The firm has single-handedly changed the outlook for South Korean retail and put brick-and-mortar operators on red alert – but has yet to prove profitable.

    Rival operator Tmon faces a similar issue, with its KRW492 billion ($425 million) sales last year sad-tromboned by KRW125.5 billion (108.4 million) in operating losses that have been accumulating since the year 2000, now standing at KRW770 billion (665.5 million) in total. The firm’s latest nose dive was attributed to “investment in core technologies”.

    “Customers frequently visited our app on expectations for new products and promotions changing every hour, which raised their royalty and created a virtuous cycle,” said Tmon CEO Lee Jae-hu. “We will continue efforts to strengthen the market position and seek ways to improve profitability this year.”

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  • Huawei continues to close in on Samsung with impressive Sales Results

    Huawei continues to close in on Samsung with impressive Sales Results

    2018 has been something of a roller coaster for Huawei, the highly controversial telecommunications equipment vendor that also somehow managed to beat Apple for second place in global smartphone shipments for two consecutive quarters. Ultimately, the China-based tech giant ranked third overall in the mobile device market last year, selling however a colossal 206 million units or so around the world, up from “only” 153 million in 2017.

    While market research firms like Strategy Analytics and the International Data Corporation (IDC) are not yet ready to release their full Q1 2019 reports, Huawei has just confirmed another impressive new set of numbers that puts the company on track to substantially narrowing the gap to Samsung by the end of the year and possibly reaching its most ambitious goal yet in 2020.

    No less than 59 million Huawei smartphones were shipped between January and March 2019 worldwide, up a staggering 50 percent or so from the 39 million third-party estimate of Q1 2018. That should be enough to open a big gap between the Chinese company and Apple, since only around 52 million iPhones were sold globally during Q1 2018, a number most analysts expect to take a bit of a plunge when 2019’s first-quarter reports start rolling in.

    It will then be pretty much impossible for Apple to catch up to the market’s silver medalist, as iPhone shipments may need a couple more quarters to start recovering, while Huawei’s figures are expected to continue growing. In total, Huawei could sell anywhere between 250 and 260 million units in 2019, which probably won’t be enough to secure the company first place over Samsung, but it might hint at a new leader next year.

    Until then, we should point out Huawei’s substantial boost in Q1 smartphone volumes crucially contributed to overall revenues of close to $27 billion, representing a 39 percent year-on-year jump. Incredibly enough, the company reported massive growth for its carrier and enterprise business departments, as well as the consumer electronics group, expecting all three divisions to post double digit increases in revenue throughout 2019. That means both smartphone and 5G equipment sales are going well, despite strong opposition from the US government.

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  • A Short Review Guide On Jared Goetz Shopify Ecom Hacks Academy 

    A Short Review Guide On Jared Goetz Shopify Ecom Hacks Academy 

    eCom Hacks Academy is an in-depth course for building your online business in Shopify. CNBC and Entrepreneur, Inc. featured its founder, Jared Goetz, in 2017 as he was able to earn 2 million USD in 60 days from his store. A lot of people are enticed by how Jared worked for only 30 minutes a day, which is included in the eCom Hacks Academy training. If it sounds too good to be true, check out this Jared Goetz review for a rundown of what you can learn in the eCom Hacks Academy.

    If you’re considering to avail of the training included in eCom Hacks Academy, take note that the price is 1,999 USD. Before enrolling, it’s best to know what to expect, which are the following:

    1. Training Course

    Jared teaches what he called dropsurfing, which is different from the more commonly known dropshipping. Here are some differences between the two:

    • Accordingly, dropsurfing only sells viral products while dropshipping sells what seems like a profitable product of your own choice.
    • With dropsurfing, you can travel the world without worrying for your inventory, unlike in dropshipping where you need to buy products in bulk, which could pile up in your garage.
    • Dropsurfing uses Shopify as its store while dropshipping uses both Shopify or Amazon. However, the difference is controlling traffic sources for dropsurfing, and it only hopes to make a sale on Amazon.
    • The profit dropsurfing promises for using Shopify ranges from 30-40%, which is higher from dropshipping earnings that range from only 5-10%.

    The dropsurfing concept is what Jared offers through his course: a dream business where you can work at home and travel any time. In the course, he shows you how it’s done from his own formula, which consist of the following:

    • Structure of the store
    • Techniques to convert leads
    • Effective ways to find products
    • Partnering with suppliers
    • Ads creation and scaling
    • Customer service

    Moreover, the content of the course that incorporates videos are as follows:

    • Module 1 – Overview of the structure, which has ten lessons, such as how to register with Shopify’s free 21-day trial, creating a store, establishing your domain name, phone setup, your store’s mode of payment, and basic search engine optimization (SEO) meta descriptions. Although helpful, almost all of these are available online.
    • Module 2 – Talks about setting up your store, which comes in 16 lessons. It focuses on conversion rate methods, email setup, and maximizing sales through upsells and free shipping.
    • Module 3 – Includes four lessons focusing on the products, from finding products and suppliers, to the fulfillment of orders through Oberlo.
    • Module 4 – Has 16 lessons that discuss strategies to keep your store running. Marketing campaigns such as Facebook Ads and using it like a pro, testing methods, and your budget are included in this module.
    • Module 5 – A bonus lesson that talks about conversion hacks, customer services, customer audience, and templates for abandoned cart email, which are in PDF form.
    1. Pros

    The best part of the eCom Hacks Academy is that it is legitimate, unlike many online training courses being offered on the internet these days.

    Moreover, the following are pros that make the eCom Hacks Academy beneficial:

    • Proven Method – Since the structure and formula are personally tested by its founder, eCom Hacks Academy’s strategies can give you financial freedom, similar to what happened to Jared.
    • Suitable for Beginners – Since lessons are understandable, a zero-knowledge Shopify wannabe can learn a lot from the training.
    • Teaches, Not Feeds – Unlike other courses that offer a website they’re affiliated to, Jared’s academy only guides you on how to create and operate your own site. You may even learn how to increase your sales through a new website, akin to what happened to Walmart.
    1. Drawbacks

    The training program may teach you a lot, but like any other program, there are also drawbacks to the eCom Hacks Academy. Here are some of them:

    • Expensive – A lot of online training courses come way cheaper than what Jared offers, and with the content of the program, it has a high price.
    • Not suitable for Shopify experts – Because the content is not new for existing Shopify users, the structure may only be beneficial for beginners. When it comes to setting up an account and website, which existing users may already know, it may not be worth the price for them.
    • Unrealistic Expected Sales – A promise of 5 million USD as your income may be too much. Moreover, the highlight that attracts people, which is working for four hours each week while earning 5 million USD, is a high expectation. Especially if you’re a beginner, this may not be reachable.

    Conclusion

    This review guide may help you balance your expectations regarding the eCom Hacks Academy training program. What is guaranteed is the legitimacy of Jared’s academy, but his claims may not be realistic, as his working style may not be applicable when starting up. Reaching a large amount of income may mean working hard and working smart, but it may take some time for most people. Nevertheless, feel free to try out the training program if you think this will suit and benefit you.

     

     

     

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  • Tata Motors Group’s Global Wholesales Down By 5%

    Tata Motors Group’s Global Wholesales Down By 5%

    Tata Motors has officially come out with its global wholesale numbers for the month of March 2019, and the company has reported a 5 per cent de-growth. Last month, Tata Motors’ total wholesales, including Jaguar Land Rover sales, accounted for 1,45,459 vehicles, compared to the 1,53,114+ units sold by the company during the same month in 2018.

    The company’s passenger vehicle wholesales for the month stood at 88,314 units, witnessing a decline of 9 per cent, as against the 97048 vehicles sold during the same month last year. This also includes the combined global wholesales of Jaguar Land Rover and CJLR (JV between JLR and Chery Automobiles) which sold 70,171 vehicles in March 2019. CJLR contribution to this was 4,812 units. Furthermore, Jaguar wholesales for the month were 20,985 vehicles, while Land Rover wholesales for the month were 49,186 vehicles.

    On the other hand, global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in March 2019 reached up to 57,163 vehicles. The company bagged a marginal growth of 1 per cent in commercial vehicle sales, compared to the 57,740 vehicles sold in March 2018. As for the company’s performance in India, Tata Motors’ CV and PV sales combined, accounted for 68,709 units, witnessing a drop of 1 per cent, against the 69,409 units sold in March 2018.

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  • Vietnamese agriculture giant enjoys fruitful year

    Vietnamese agriculture giant enjoys fruitful year

    The fruit sales of VND2.9 trillion ($125.05 million) accounted for 54 percent of the corporation’s revenue, according to Hoang Anh Gia Lai JSC’s (stock code: HAG) consolidated financial statements for 2018.

    Other agricultural products like chilli and pepper also contributed VND550 billion ($23.71 million) in revenues.

    Meanwhile, revenues from cattle raising fell 83 percent to VND126 billion ($5.43 million); and that from rubber plantations fell 24 percent to VND345 billion ($14.87 million).

    The corporation recorded VND5.4 trillion ($232.83 million) in total sales last year, an increase of 11 percent over the previous year.

    Last year, HAG’s subsidiary Hoang Anh Gia Lai Agriculture JSC (HAGL Agrico) invested VND976 billion ($42 million) in 5,300 hectares of land in Cambodia to grow bananas for export to China in response to rapidly rising demand.

    HAGL used to be a leading property developer in Vietnam, but restructured itself in 2010 to focus on agriculture, rubber and livestock farming.

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  • VinFast Preparing for Russian Sales

    VinFast Preparing for Russian Sales

    VinFast’s sedan and SUV Lux images were found in the database of the Russian Federal Service for Intellectual Property (Rospatent).

    “Clearly, the Vietnamese automobile brand with BMW’s platform is approaching really close to the Russian market,” the news site said, suggesting that VinFast’s plans to sell its products in Russia might have been some time in the making.

    According to a VinFast source, the company is in the process of completing necessary procedures to start selling cars in Russia. The source did not reveal a time frame for when it would happen.

    Right from the beginning, VinFast had aimed at making cars that meet European standards, so they could be exported, apart from being sold in the domestic market. Russia was one of the first foreign markets targeted.

    The sedan and SUV Lux are both equipped with turbocharged 2-liter 4-cylinder engines. The sedan has a 174 horsepower engine and a maximum torque of 300 Nm, while the SUV has a 228 horsepower engine with a maximum torque of 350 Nm.

    Currently, the Lux model is scheduled to reach Vietnamese customers in the third quarter of this year, following the Fadil car, which would be introduced to the domestic market in the second quarter.

    VinFast is shipping 155 of its cars to 14 countries across Asia, Europe, Africa and Australia to test them for safety and endurance against standards in those countries.

    VdinFast, the car manufacturing unit of Vietnam’s largest private conglomerate Vingroup, showed off its first two car models, a sedan and an SUV, at the Paris Motor Show in France last October just a year after the company’s incorporation, grabbing the attention of the local and international media.

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  • BMW Group India Shows Strong Growth Sales

    BMW Group India Shows Strong Growth Sales

    BMW Group India has registered the highest-ever Q1 sales. All three brands – BMW, MINI and BMW Motorrad – helped in achieving this strong growth in sales. In Q1 2019, BMW Group India delivered 2982 cars (BMW + MINI) registering a growth of 19 per cent as compared to Q1 2018. BMW India sold 2822 cars, clocking a notable growth of 19 per cent. MINI India led the niche small-premium car segment with sales of 160 cars and a growth of 18 per cent. BMW Motorrad India posted a remarkable growth with sales of 597 units.

    The BMW 5 Series and the BMW 6 Series Gran Turismo have contributed strongly to the growth story. BMW also saw significant contribution coming from the locally-produced X range with introduction of the all-new BMW X4 Sports Activity Coupe that created a novel segment in the luxury car market and generated new demand. The locally-produced Mini Countryman together commanded a share of over 80 per cent in Mini sales. The sub-500 cc offerings of BMW Motorrad – BMW G 310 R and BMW G 310 GS got the lions share with over 80 per cent sales. The recently launched BMW R 1250 GS and BMW R 1250 GS Adventure have also created high demand among motorcycling enthusiasts.

    Dr. Hans-Christian Baertels, President (Act.), BMW Group India, said, “BMW Group India will continue its unwavering focus on maximizing performance, bringing best-in-class products to the Indian market and exceeding expectations on each and every service that is offered. We are confident that the growth strategy for BMW, MINI and BMW Motorrad will yield even higher results in the coming months and we will continue to grow the luxury vehicle market in India.”

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  • South Korean online retail sales show steep climb

    South Korean online retail sales show steep climb

    South Korean online sales posted double-digit growth in February, underpinned by soaring demand for air purifiers.

    The spike in demand was caused by an instance of fine-dust pollution that hit Korea during the month.

    The findings were published in a Ministry of Trade, Industry and Energy report last Thursday that registered a 12 per cent advance in online retail sales compared with the same period last year.

    Home appliances sales, encompassing air purifiers, grew 62.2 per cent over the course of the month.

    The February figures contrasted with a 0.4 per cent dip in revenue by both online and offline major retailers and a 7.1 per cent decline in offline sales. Discount outlet sales also dropped by 13.7 per cent.

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  • Drop in Hong Kong retail sales

    Drop in Hong Kong retail sales

    Hong Kong retail sales fell 1.6 per cent in the first two months of this year.

    February’s sales were always expected to be down on last year due to the timing of Lunar New Year. They fell 10.1 per cent, while the revised figure for January was an increase of 7 per cent.

    As always, the Census and Statistics Department (C&SD) warned not to read too much into either month’s performance alone, asserting the combined January-February figures for each year provide a more accurate assessment of the state of retail sales growth.

    A government spokesman said the weak performance of retail sales in recent months reflected that consumer sentiment remained cautious amid “various external uncertainties”.

    “The near-term outlook for retail sales should continue to be affected by moderating global economic growth and various external uncertainties, but the full-employment situation and the sustained growth in inbound tourism should provide some support.”

    After netting out the effect of price changes over the same period, Hong Kong retail sales for the first two months of the year decreased by 1.8 per cent year on year.

    Combining the two months, sales of jewellery, watches and clocks decreased by 2.8 per cent. Other categories to fall included apparel down 3.7 per cent; food, alcoholic drinks and tobacco down 1 per cent; electrical goods and other consumer durable goods down 18.3 per cent; Chinese drugs and herbs down 1.7 per cent; and optical shops, down 2 per cent.

    However sales of medicines and cosmetics increased by 2.3 per cent; department store sales rose 4.2 per cent; supermarket sales by 1.5 per cent; footwear and accessories by 1.3 per cent; furniture and fixtures by 3.4 per cent; and books, newspapers, stationery and gifts by 1.7 per cent.

    The C&SD estimated the value of retail sales decreased by 0.6 per cent during the three months to February compared with the preceding three months, while the volume declined by 1.2 per cent.

  • Mahindra Sales Grow By 11% Last Year

    Mahindra Sales Grow By 11% Last Year

    Indian auto giant Mahindra & Mahindra (M&M) registered a growth of 11 per cent in auto sales for the financial year 2018-19. The automaker sold 608,596 units in the previous fiscal, as opposed to 549,153 units sold in FY2017-18. The company’s steady growth was visible in the March 2019 sales results as well with Mahindra selling 62,952 units, as against 62,076 units in March 2018. The automaker saw a hike of one per cent in its sales for the previous month.

    Commenting on the performance, Rajan Wadhera, President, Automotive Sector, Mahindra said, “We have closed FY-19 with robust double digit growth of 11 per cent at an overall level, despite strong headwinds faced by the Indian automotive industry this year. This growth has been supported by our three new product launches, which have been well received in the market. The commercial vehicles segment and exports have also posted strong growth rates of 15 per cent and 37 per cent respectively.”

    Mahindra’s domestic sales stood at 59,012 units for March 2019, growing by one per cent over 58,652 units sold in March last year. The Passenger Vehicle segment that includes UVs, cars and vans contributed 27,646 units to last month’s sales, registering a growth of four per cent over 26,555 units sold in March 2018. The commercial vehicle segment meanwhile saw sales decline by four per cent with 24,423 units sold in March this year, as against 25,495 units sold in March last year.

    The Medium and Heavy Commercial Vehicles segment saw Mahindra sell sold 917 units, which also saw sluggish volumes with a decline of 33 per cent in year-on-year sales. Nevertheless, exports dor March 2019 stood at 3940 vehicles, growing by 15 per cent, while three wheeler sales for the previous month grew by five per cent at 6943 units.

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  • Toyota And Mahindra Register Growth, Maruti Suzuki Car Sales Drop

    Toyota And Mahindra Register Growth, Maruti Suzuki Car Sales Drop

    Carmakers in India have officially started to come out with their sales numbers for the month of March 2019. The Financial Year 2018-19 has been quite an eventful year for the Indian auto industry with the year ending in a positive note. As for the sales performances in March 2019, the results were quite mixed. In fact, the country’s largest carmaker, Maruti Suzuki India, continued to see a decline in sales in March 2019, while other manufacturers like Toyota Kirloskar Motors and Mahindra and Mahindra registered marginal growth.

    Toyota India

    In March 2019, Toyota Kirloskar Motor sold 13,662 units in India, registering a growth of 0.9 per cent, compared to the 13,537 units during the same month last year. As for the company’s domestic sales, Toyota’s wholesales numbers went up to 12,818 units last month, compared to the 12539 vehicles sold in March 2018, registering a growth of 2 per cent. Exports, on the other hand, saw a decline of 15.4 per cent during the month of March 2019 with 844 units, against the 998 vehicles that were exported during the same month last year. However, as for the company total sales during FY 2018-19, Toyota Kirloskar Motor recorded a sales growth of 7 per cent in the domestic market with 150,525 units, compared to the 140,645 units being sold during FY 2017-18.

    Commenting on the sales performance, N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “We are happy to have clocked a growth of 7 per cent in domestic sales in FY 18-19 as compared to FY 17-18. Innova Crysta and Fortuner have been maintaining the growth trajectory and continue to be leaders in the segment.” He also added that “All New Camry Hybrid Electric Vehicle or self-charging electric vehicle has already crossed 500 bookings since its launch in Jan 2019. Additionally, Etios Liva has also contributed to the positive sales momentum in FY 18-19 with a growth of 13% as compared to FY 17-18.”

    Maruti Suzuki India

    Maruti Suzuki India has registered a decline of 1.6 per cent in the last month of the Financial Year 2019. Last month the company sold 158,076 vehicles, including domestic sales and export, compared to the 160,598 units that were sold in March 2018. The company’s total sales in India alone reached 147,613 units in March 2019, registering a marginal de-growth of 0.7 per cent, against the 148,582 vehicles sold during the same month last year. Exports, on the other hand, took a massive hit with a decline of almost 13 per cent with 10,463 units, compared to the 12,016 units exported in March 2018.

    Maruti Suzuki has registered the highest ever total sales in FY 2018-19 at 1,862,449 units, a growth of 4.7 per cent, compared to the 1,779,574 units sold in 2017-18. The company’s domestic sales for FY 2018-19 reached 1,753,700 units, also the highest ever, compared to the 1,653,500 units sold in 2017-18. In fact, this is the 7th straight year of growth in domestic sales for Maruti Suzuki India.

    Mahindra and Mahindra

    Mahindra and Mahindra has registered a marginal growth of 1 per cent in total sales for the month of March 2019 with 62952 units. In comparison, the company sold 62076 units in March 2018. Mahindra’s domestic sales touched 59,012 vehicles during March 2019, as against 58,652 vehicles in March 2018, registering a similar growth of 1 per cent. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 27,646 vehicles in March 2019, registering a growth of 4 per cent. The company’s exports, on the other hand, saw substantial growth of 15 per cent with 3940 units, against the 3424 exported in March 2018.

    On the other hand, the company’s sales performance for the financial year that ended on March 31, 2019, stood at 6,08,596 vehicles, compared to 5,49,153 vehicles during FY-18, registering a growth of 11 per cent.

    Commenting on the performance, Rajan Wadhera, President, Automotive Sector, Mahindra and Mahindra said, “We have closed FY-19 with robust double-digit growth of 11 per cent at an overall level, despite strong headwinds faced by the Indian automotive industry this year. This growth has been supported by our three new product launches, which have been well received in the market. The commercial vehicles segment and exports have also posted strong growth rates of 15% and 37% respectively.”

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  • H&M sales beat Predicted expectations

    H&M sales beat Predicted expectations

    First-quarter H&M sales have exceeded expectations, with the company improving both profit and margin, proof that the fast-fashion company’s turnaround strategy is working.

    H&M sales rose by 42 per cent in India and 16 per cent in China, in local currencies. The company said  both online and offline performance improved in many markets.

    The global retailer’s pre-tax profit was 1.04 billion Swedish crowns (US$112.25 billion) for the quarter to February 28, less than the 1.26 billion Swedish crowns it posted in the previous corresponding period. But this was well ahead of the 708 million that analysts had been expecting.

    Gross margin was 50.0 per cent, up from 49.9 per cent in the previous corresponding period, while analysts had been anticipating a fall to 49.4 per cent.

    H&M said this was the result of ongoing improvements in buying and logistics, which led to a 1.5 percentage point reduction in the markdowns in relation to sales, compared to the corresponding quarter the previous year.

    “Our ongoing transformation work has contributed to stronger collections with increased full-price sales, lower markdowns and increased market shares,” Karl-Johan Persson, H&M’s CEO, said in a statement accompanying the results.

    H&M has also been working to improve its online offering by launching e-commerce sites in new markets, integrating digital and physical stores and providing faster delivery options. The retailer also said it will shortly launch an upgraded loyalty program, which has 35 million members.

    Today, H&M is available online in 47 markets, and Mexico and Egypt will be added in 2019. It will launch on Myntra and Jabong, India’s largest e-commerce marketplaces, later this year.

    H&M said it plans to add 175  net new stores to its network this year. Most of these stores will open in growing markets, while the number of stores in Europe is expected to reduce by 50.

    “The rapid transformation of fashion retail continues and we can see that our own transformation work is taking us in the right direction, even if many challenges remain and there is still hard work to do,” Persson said.

    “The progress we have made in our strategic focus areas confirms that we are on the right track. Therefore we continue moving forward at full speed and we are optimistic about the future for the H&M group.”

    H&M’s strategic focus areas include:

    • Creating the best customer offering.
    • Fast, efficient flexible product flow in the supply chain, including initiatives within advanced data analytics and AI.
    • Continued investment in the tech foundation, including scalable and robust platforms to enable faster development of new apps and technologies.
    • Digital expansion into new markets.
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  • Xiaomi’s Black Shark 2 gaming smartphone goes on sale

    Xiaomi’s Black Shark 2 gaming smartphone goes on sale

    Great news for mobile gaming fans looking to buy one of the most powerful gaming smartphones available on the market, as Xiaomi has just announced their new product, Black Shark 2 is now up for grabs in Europe.

    Initially introduced in China on March 18, Xiaomi Black Shark 2 can be purchased from Europe beginning March 28, at 6.00 PM CET. You’ll be able to buy the phone from every European country where Xiaomi officially sells its phone, and here is how much you’ll have to pay.

    The Black Shark 2 with 8GB RAM and 128GB internal memory will be available for purchase for €549, while the 12GB RAM and 256GB storage will cost €649. For customers in the UK, the smartphone will be available for £479 and £559, respectively.

    If you take away its gaming-related features, the Black Shark 2 remains a very powerful flagship smartphone, so even if you’re not a gamer, it can be a great alternative to Samsung, LG and Huawei’s flagships.

    Speaking of gaming features, Xiaomi explains that the Black Shark 2 embeds the only direct touch liquid cooling system in the work. Also, the phone’s display benefits from the world’s lowest latency touch.

    As far as US availability goes, we doubt this will come in the United States at all since Xiaomi hasn’t yet officially entered the market, although it repeatedly said it will eventually happen.

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  • Athleisure trend boosts Yue Yuen sales in 2018

    Athleisure trend boosts Yue Yuen sales in 2018

    Yue Yuen Industrial, the world’s largest manufacturer of athletic, athleisure, casual and outdoor footwear, boosted revenue by 6.3 per cent last year.

    Yue Yuen makes shoes for a raft of brands, including Geox, Levi’s, Rockport, Carters and Pony. Its subsidiary Pou Sheng operates a network of some 5500 directly operated stores and 3000+ sub-distributor stores, predominantly on the mainland.

    For the year to December, the Group recorded revenue of US$9.695 billion, with gross profit up by 4 per cent to $2.446 billion. However, profit attributable to shareholders fell 40.9 per cent to $307.1 million, mainly due to operating deleverage within the manufacturing business, a reduction of the non-recurring gain for the year, and higher finance costs.

    Yue Yuen said revenue attributed to footwear manufacturing (including athletic shoes, casual/outdoor shoes and sports sandals) declined by 1.5 per cent to $5.39 billion, whereas the volume of shoes produced increased by 0.4 per cent to 326 million pairs. The average selling price decreased by 2 per cent to $16.53 per pair, compared with the previous year.

    The group’s athletic footwear category outperformed all other categories as a result of the global athleisure trend, accounting for 79.2 per cent of footwear manufacturing revenue last year. Casual and outdoor shoes accounted for 19.1 per cent of footwear manufacturing revenue.

    The group’s distribution sales are derived primarily from Pou Sheng, involving in retail operations for international sporting goods brands in the Greater China region. Last year, the revenue attributable to Pou Sheng grew by 23.3 per cent to $3.422 billion.

  • Singapore retail sales up with 5.3 per cent

    Singapore retail sales up with 5.3 per cent

    Singapore retail sales rose by 5.3 per cent in January, underpinned by consumers stocking up ahead of the Lunar New Year holiday.

    When motor vehicles are included in the data, the official topline figure was a 7.6 per cent increase.

    Lunar New Year fell two weeks earlier this year compared with last year, which means some volume of pre-holiday stocking up was completed in January rather than the first half of February.

    According to Statistics Singapore, the total retail sales value in January was about S$4.2 billion. Online retail sales accounted for a solid 4.8 per cent of sales.

    Most retail industries recorded higher sales in January this year compared to last. Sales of apparel & footwear, medical goods & toiletries and by department stores, supermarkets & hypermarkets and food retailers registered growth rates of between 8 per cent and 10.5 per cent, as a result of higher demand during the Lunar New Year lead up.

    In contrast, sales of computer & telecommunications equipment declined 11.5 per cent, due in part to lower demand for mobile phones during this period.

    Sales of food & beverage services increased 5.9 per cent in January, reaching $862 million, compared to $814 million in January last year.

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