Retail News CRM

Tag: Shopping

  • Aeon plans to triple Vietnam malls

    Aeon plans to triple Vietnam malls

    Japanese retailer Aeon plans to triple the number of malls in Vietnam by 2025 as part of its expansion strategy to meet the needs of a growing middle class population.

    A report said the number of Aeon malls will nearly triple to 16 throughout Vietnam.

    Aeon has some 200 stores in Vietnam at present, including six shopping malls.

    The stores are concentrated in Ho Chi Minh City and Hanoi, Vietnam’s biggest metropolises.

    A mall will be opened in the central town Hue in 2024.

    The company is also considering increasing its supermarkets in Hanoi to 100 by 2025, about 10 times the current number.

    Vietnam is “the most important market in our overseas strategy,” the report quoted a senior Aeon executive as saying.

    The country has a population of 100 million people with an average age of 33. Economic growth of more than 7% is expected this year in a repeat of last year’s performance.

    Aeon entered Vietnam in 2014 and has invested over $1.18 billion in the country to date.

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  • Twitter is concerned that bad actors can exploit its shopping features

    Twitter is concerned that bad actors can exploit its shopping features

    Well, it appears that Twitter has some serious concerns regarding one of its features. Last summer, the social media enabled users to purchase directly from the platform. US businesses received the ability to use custom shop names and create shopping sections on their profiles to list and sell items.

    More specifically, it discusses the problems that could occur if someone with bad intentions wants to use Twitter’s e-commerce function to sell illegal or dangerous items.

    The memo contains a section entitled “risk assessment,” which lists a few high-risk elements for Twitter’s shopping feature. One of these is the merchant fields, like shop names and descriptions, which, according to the memo, could be used by bad actors in harmful ways.

    The biggest problem is that, at least at the moment, Twitter doesn’t have good enough ways to deal with such “bad actors.” According to the memo, the platform uses automated detection tools that search for sketchy things in individual product listings, but its proactive measures aren’t enough because the company lacks the manpower needed to offer better detection.

    Another concern that Twitter has is the shareability of the stores. At the moment, users can’t share the storefronts, but if Twitter introduces such a feature, it could give bad actors the ability to share their dangerous items and reach even more people.

    According to a Twitter spokesperson, the memo is genuine and is part of a new initiative that allows teams to share their ideas on how to make product releases safer. The spokesperson also stated that Twitter is always searching for ways to improve the safety of its services and that this is especially true when it wants to add new features to its platform.

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  • Stop Making “Personalized” Content that Still Feels Generic

    Stop Making “Personalized” Content that Still Feels Generic

    Personalization – you’re doing it wrong.

    There are only a handful of trends or innovations in the world of loyalty marketing that can cause as much global stir as personalization does. And even though most companies have a pretty common understanding of what it is – an act of tailoring an experience or communication to your clients’ needs and preferences, that is – many of them still have troubles with implementing it correctly. The big question is: why?

    Presumably, the biggest reason for that is – personalization is hard; especially, when you have thousands of clients in your database. For real, how are you supposed to address each and every one of them while also paying attention to what they buy, watch, read (or whom they follow on Instagram)? Exactly.

    And so, hundreds of companies decide to lower the bar and opt for sending their clients “personalized” messages, which usually include a Hi-[name]-type greeting, and some bits of information regarding their activity (“Is it summer already? You’ve bought 10 bottles of anti-sweat lotion this month!”) – the rest remains the same for all.

    But is that personalization, really? To say it’s selective would be an overstatement. Anyone can notice that those are but cosmetics changes made to help create an impression that a given message is personalized. Some people fall for that, sure, but most clients – the ones that have seen hundreds of newsletters and special-offer signs in their lives – can tell it’s not real personalization (and so would you if you were in their shoes). That’s because the e-mails and notifications they receive don’t correspond with their needs and personal interests.

    Does that mean that personalization, as it is discussed and promoted by today’s marketers, is impossible to pull off? Nothing could be further from the truth. Think about it – do you actually believe that, with all the technology available to us, we cannot provide each customer with content they can relate to?

    We can, but it requires the right IT tools and… data. This is where modern loyalty management platforms enter the conversation.

    How well do you know your customers?

    Let’s start with the obvious – if you have a loyalty program, you are sitting on a gold mine right now. Why? Because you’re literally drowning in data concerning your customers. Not only can it tell you what, when, and how they usually buy, but it can also reveal what their hobbies, passions, interests, needs, and preferences are; how they perceive the world around them.

    Of course, with the amount of data we’re dealing with here, it is impossible for a human mind to process all of that information and produce findings that could help you improve your communication with your customers. For that, you must use an artificial one.

    In other words, what you need in this scenario is a modern AI-powered loyalty management system that can analyze insane amounts of customer data, identifying trends, interests, needs, and dreams within your clients’ shopping and loyalty program behavior in the process. Not only will a loyalty marketing platform (like the one that Comarch provides, for example) allow you to learn what your customers’ preferences are, but it will also help you craft the right message and send it over the right communication channel at the right time and place.

    How? Well, have you heard about customer segmentation? If you have, then you must know that AI-driven loyalty marketing platforms are now being designed to help you divide clients from your database into groups based not only on demographics but also on their hobbies and preferences. What it means is that the system can suggest creating specific messages for dedicated groups of individuals who feel the same way about particular products and how they want to be approached by a given brand. Because of its power, the system can identify thousands of such customer groups (or clusters, as we tend to call them) and help you automate your communication processes to make sure no client is left unsatisfied. Now, that’s an innovation.

    The important thing is that with AI, you can stop trying to create meaningful content and actually start creating it. Establishing strong customer relationships no longer feels like a job based on a gut feeling. Instead, you know exactly what you’re supposed to do – be genuine.

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  • Nike cries foul over virtual shoes, suing retailer that sells sneaker NFTs

    Nike cries foul over virtual shoes, suing retailer that sells sneaker NFTs

    Sneaker giant Nike sued online reseller StockX in New York federal court on Thursday for selling unauthorized images of Nike shoes, marking the latest lawsuit over digital assets known as non-fungible tokens.

    Nike said StockX’s NFTs infringe its trademarks and are likely to confuse consumers. Its lawsuit asked for unspecified money damages and an order blocking their sales.

    Detroit-based StockX, a platform for reselling sneakers, handbags, and other goods, was valued at more than $3.8 billion last year.

    A representative for the company did not respond to a request for comment, nor did Nike or its attorneys.

    Nike said StockX last month began selling unauthorized NFTs of its sneakers, telling buyers they would be able to redeem the tokens for physical versions of the shoes “in the near future.”

    The complaint said StockX has sold over 500 Nike-branded NFTs.

    The lawsuit said complaints about the NFTs’ “inflated prices and murky terms of purchase and ownership” and buyers’ doubts about the legitimacy of StockX’s model have hurt Nike’s business reputation.

    Nike said it will release “a number of virtual products” later this month in conjunction with the digital art studio RTFKT, which it acquired in December.

    NFTs have recently exploded in popularity, and lawsuits over them have begun to hit U.S. courts. Miramax sued director Quentin Tarantino in November over his plans to auction NFTs related to the 1994 film “Pulp Fiction,” which he directed and the studio distributed.

    Last month, Hermes sued artist Mason Rothschild over his “MetaBirkin” NFTs of the French company’s Birkin bags.

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  • B2B shopping app taps Vietnam’s e-commerce potential

    B2B shopping app taps Vietnam’s e-commerce potential

    The ranking of businesses in Vietnam’s map of e-commerce changed in the second quarter of 2021, with the volume of Google searches for essential online stores skyrocketing, according to an iPrice Group study.

    The study showed online groceries were the only category to maintain steady and consistent growth since the beginning of the pandemic. Google searches related to online grocery stores in the second quarter of this year increased by 223 percent against the first quarter. The number of searches increased 11 times in July compared to May, and 3.6 times compared to June when the social distancing order under Directive 16 was implemented in some provinces and cities.

    People pay more attention to fresh food, beverages, pre-packaged items, fruits, and veggies as the searches of these items surge by 99 percent, 51 percent, 30 percent, and 11 percent, respectively, compared to the previous quarter. Thus, social distancing could be one of the factors driving the surge in demand for online supermarkets. With the growing necessity of purchasing essentials online, retailers are more likely to adapt to the digital platform.

    Buy2Sell, a B2B platform for imported goods, launched a new application in December to compete in the e-commerce race in Vietnam. Buy2Sell’s application focuses on high-end products, especially imported organic food, genuine cosmetics, and other lifestyle items.

    From 2022, Buy2Sell will expand to allow domestic sellers on its platform instead of only international vendors as previously. It would still enable any buyer matching a seller’s MOQ (order minimum) to purchase goods at wholesale prices.

    Buy2Sell has established a flexible delivery policy between sellers and buyers on its platform and application, where sellers can deliver the goods themselves to buyers instead of waiting for a long period of time. This helps buyers receive the goods quicker.

    All goods displayed on Buy2Sell will be authenticated from their origin. The quality of origin guarantees no imitations, fake goods, low-quality goods to be distributed through this platform. Buy2Sell established a consumer protection policy on selling prices and warranties, under the commitment for all sellers.

    Through its elaborate distribution system (both wholesale and retail) since 2015, and with a completely different market segment from other e-commerce players, Buy2Sell will become a known name. In the coming years, the company intends to strongly contribute to the development of Vietnamese technologies and bring changes to the consumer landscape.

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  • Hermes reopens it’s Shanghai flagship

    Hermes reopens it’s Shanghai flagship

    On 29th October 2021, Hermès is delighted to open the doors of its newly renovated store in the prestigious Plaza 66 in Shanghai. Spanning over two floors and 656 m2, the vision for this store evokes the richness of the local culture and Hermès’ connection with the city of Shanghai, creating an engaging backdrop for discovering the 16 métiers of the house.

    The new design is established with the store’s powerful façade, which now features a long window carved into its impressive stone surface to allow more natural light to filter through. The transparency of the storefront below is also improved thanks to the generous addition of windows set in a deep-green tinted glass that mingles invitingly with the mineral hues of the stone tiles.

    Transformed by the Parisian architecture agency RDAI, the interiors feature a fluid, curved layout, drawn in response to the existing volumes of the space. Distinctive architectural gestures, like the sculptural lines carved into the soaring ceilings and the rounded walls, enhance the customer path from one side of the open-plan area to the other. Throughout the store, a richly evocative colour palette of deep blue-green, burgundy, and caramel, alternating between matte and lacquer surfaces with added accents of plush velvet, are employed in an impactful way to create a sense of intimacy for each métier. Three-dimensional custom designed carpets with superimposed geometric forms in vivid, saturated colour give structure and individuality to each universe.

    From the main street side entrance, guests are greeted with an animated display of women’s silk and a generous offer of fashion accessories. On the other side of the mall, there is a wider selection of women’s silk and accessories, perfume and beauty. These two entrances include mirroring features that are hallmarks of the house: the Hermès ex-libris underfoot and the iconic “Grecques” globe lighting overhead. The hand-assembled inlaid stonework reflects the house’s savoir-faire: based on the rue du Faubourg Saint-Honoré motif, the pattern disperses before merging again on the other side of the store. The surrounding terrazzo flooring is flecked with preserved pieces of stone from the existing interior façade. Intimate corner spaces and salons on the ground floor are dedicated to the jewellery and watches, as well as the perfume and beauty métiers – fitted out in saturated blue-green tones that contrast with the hand-painted walls and cherrywood cabinetry.

    A new, sweeping staircase serves as an architectural feature and an eye-catching exploration of form that undulates. Above the stairs floats a commissioned work by Chinese artist Xiaojing Yan. The delicate sculpture, almost 2m in height, is a cloud-like vision of a horse at full gallop, crafted from over 10,000 glass pearls suspended by threads. The ascent from the first to the second floor follows a gradient, hand-painted frescoed wall that carries on through to the men’s universe and home collections on the second floor. Natural light from the new window bathes the space in a lustrous warmth and a communal table encourages guests to linger for a coffee. Arriving from the mall through a third entrance here, the line of sight travels past the home and equestrian

    collections, the leather goods, enveloped in warm and glossy tones of red and deep burgundy, through to the spacious women’s universe. Elegantly clad fitting and VIP rooms, as well as numerous lounge areas furnished with deep leather sofas and armchairs, create an inviting ambience throughout the space.

    In the tradition of establishing a distinct identity for each Hermès locale, a collection of carefully selected artwork, contemporary photography, carré prints, and works from the Émile Hermès collection seamlessly blends the past and present.

    This new Hermès store offers local customers and new visitors an utterly bespoke retail experi- ence, set in an engaging and welcoming environment. It binds the culturally vibrant essence of Shanghai with the Parisian house’s contemporary creative spirit and fine craftsmanship.

    Since 1837, Hermès has remained faithful to its artisan model and its humanist values. The freedom to create, the constant search for beautiful materials, the transmission of savoir-faire of excellence, and the aesthetic of functionality all forge the singularity of Hermès, a house of objects created to last. An independent, family owned company, Hermès is dedicated to keeping the majority of its production in France through its 51 workshops and production sites and to developing its network more than 300 stores in 45 countries. The group employs almost 17,000 people worldwide, including nearly 10,600 in France, among whom more than 5,600 are craftsmen*. Axel Dumas, a sixth-generation family member, has been Hermès CEO since 2013.

    Founded in 2008, the Fondation d’entreprise Hermès supports projects in the areas of artistic creation, training and the transmission of savoir-faire, biodiversity, and the preservation of the environment.

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  • Uniqlo owner Fast Retailing forecasts profit recovery as pandemic abates

    Uniqlo owner Fast Retailing forecasts profit recovery as pandemic abates

    Japan’s Fast Retailing expects continued recovery in sales and profits in the year to August 2022 as the pandemic abates, the owner of clothing brand Uniqlo said on Thursday.

    The company said it expects operating profit to climb 8.4% to 270 billion yen ($2.4 billion) in fiscal 2021-22.

    For the year ended in August, it reported 249 billion yen in operating profit, topping the 245.7 billion forecast in a Refinitiv poll of 13 analysts.

    “Vaccinations are being carried out all over the world to control the spread of the disease, and the economy is growing in earnest,” chief executive Tadashi Yanai told reporters.

    Fast Retailing expects the pandemic will still drag on results in the first half of the fiscal year but will then recover in the second half as shopping habits return to normal.

    The company said it expects some negative effects from production or logistic delays, problems that have plagued major clothiers and their global supply lines in recent months.

    In September, Fast Retailing said The company said in late September that its clothing releases will be delayed due to COVID-19 lockdowns at partner factories in Vietnam some clothing releases would be delayed due to pandemic-related lockdowns at partner factories in Vietnam.

    That followed crises in Myanmar and China that upset supply lines and created reputational challenges.

    Fast Retailing halted operations at some partner facilities in Myanmar as a military coup led to social unrest and lockdowns. In China, the company and other foreign brands faced a customer backlash over criticisms of alleged human rights abuses in Xinjiang province.

    Fast Retailing operates about 800 Uniqlo stores on the Chinese mainland, about the same number as in Japan.

    Yanai said the company carried out regular inspections of production sites and had built up a team to improve monitoring of how it gets raw materials for its clothes.

    “In the future, we will ensure a higher level of traceability of the materials we procure, including the farmers who produce the raw goods,” Yanai said.

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  • Online retailers in APAC drew 154 million new customers last year

    Online retailers in APAC drew 154 million new customers last year

    Asia Pacific’s online retail market is in good form, despite being one of the slowest growth markets when compared to global rates.

    According to new research from Forrester, Asia Pacific’s online retail market will be worth $2.8 trillion by 2025, up from $1.7 trillion in 2020.

    Last year Asia Pacific achieved $230 billion in online retail sales, with China accounting for almost an entire third of global sales.

    Within the e-commerce space China also dominates with an 82% share of the market, supporting overall APAC market growth of 16%.

    The grocery category will reach $473 billion by 2025, surpassing the consumer electronics category for the first time.

    The pandemic also drove newcomers to online retail – in Asia Pacific, 154 million more people bought online last year, which Forrester says is the highest number of new users ever in a single year. Of all the new buyers added globally in 2020, 69% came from Asia Pacific and 53% specifically from China.

    The Australian market experienced the fastest growth, while India was the slowest. Retailers also see the online market as a key way to leverage their distribution centres as a way of improving their reach.

    Forrester notes, “Alibaba took a controlling stake in Sun Art Retail, China’s largest supermarket chain, which has 76% of its stores outside urban areas, allowing Alibaba to break into the underserved nonurban customer market.”

    The strong grocery category attracted players such as Reliance Retail in India, which opened an online grocery company that covers more than 200 cities across the country.

    Forrester notes, “Flipkart in India had a limited presence in grocery; it then added a 90-minute delivery service to make the most of the fastest-growing category in India. Tata Group acquired BigBasket, the largest online grocery player in India, to make inroads into the Indian e-commerce market.”

    Organisations are increasingly looking to livestreams as a way of promoting their companies and fostering brand engagement.

    “ Farmers used livestreaming sessions on Douyin — Tiktok in China — to sell fresh produce, with some earning more than $1 million per month.”

    Social commerce also gained momentum. Forrester notes, “Meesho, a pure-play social commerce retailer in India, reports seeing monthly users grow from just 0.5 million to 5.5 million and monthly orders jump by 500% from 2019 to 2020. In China, community buyers (i.e., buyers congregating on WeChat) purchase grocery in bulk and pick it up from a nearby drop location. Retailers save on the last-mile shipping cost, and buyers get groceries at a discounted price.”

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  • Ikea’s malls arm branches out into housing with new China centre

    Ikea’s malls arm branches out into housing with new China centre

    Ikea’s shopping malls business – one of the world’s largest – has kicked off the sales process for some 500 flats at its first-ever mixed-use retail and residential development, in Changsha, southern China.

    Cindy Andersen, MD at Ingka Centres since February, said in an interview she expected flat buyers to start moving in during March next year, after the adjacent mall opened last month following pandemic-related delays.

    Ingka Centres has 45 malls, or “meeting places” as it calls them following a strategy tweak a few years ago, anchored by Ikea furniture stores across Europe and Russia, and in China where they are branded Livat.

    The company has shifted towards more entertainment and social spaces in its developments as consumers, in China in particular, increasingly shop online, visiting malls more for food or movies. Andersen told Reuters a third of tenants at the Livat Changsha mall were retailers currently.

    With housing, it is testing yet another income leg, banking on the rapid urbanization in China. Livat Changsha’s residential building, besides the flats, also sport common living and workspaces designed and decorated in co-operation with Ikea that it hopes will appeal to people working from home.

    Andersen said the Livat Changsha mall – Ingka Centres’ fifth in China and its first development across markets to also offer housing – had around 95-per-cent occupancy in July, with tenants ranging from restaurants and sport and entertainment outlets to around 350 retailers including Decathlon and Uniqlo across 130,000sqm.

    “I think we had a really relevant strategy even before the pandemic, and now the trends we saw already then have accelerated.”

    The atrium of the Livat shopping centre in Changsha, China. Image: Ingka Centres.

    She said that Ingka Centres, along with parent Ikea, still has great belief in a future of physical shopping, including in China, as long as it is tailored to consumer expectations around services, omnichannel and convenience.

    “There is a need to include retail experiences in the meeting places also going forward. We have a lot of confidence this is a need for the consumer also in China,” she said, adding that Ingka Centres had added 50 international retail brands to its portfolio in China over the past year.

    “I think it very much comes down to the fundamental needs of people. We like to be with other people and we like to be in environments where we can experience, where we can touch and feel,” she said.

    Across markets, Ingka Centres is trying various omnichannel models and digital services at its malls with tests ranging from local e-commerce platforms to live shopping events.

    At Livat Changsha – where it has invested more than US$616.8 million to date – the focus initially will be on a loyalty scheme app that is connected to Chinese social media WeChat, sporting services such as virtual reality centre navigation, online restaurant queuing and cinema ticket purchases.

    Andersen said the program currently has around 2.3 million members in China, compared with 1.5 billion in May last year.

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  • Twitter begins testing shopping feature on brand profile pages

    Twitter begins testing shopping feature on brand profile pages

    Twitter will begin allowing businesses to showcase products for sale at the top of their profile page, the social networking company said on Wednesday, as it seeks to grab a piece of the lucrative online shopping world.

    The San Francisco-based company is following in the footsteps of larger rival Facebook which opened a “Shops” feature last year to let consumers purchase products directly through Facebook and Instagram.

    Twitter said it will begin testing the new shopping feature with “a handful of brands” in the United States.

    Users can scroll through a carousel of products at the top of the brand’s profile. The customer can tap on a product and then pay through the retailer’s website.

    The test is a renewed attempt to offer shopping on Twitter. The company previously experimented with a “Buy Now” button and product pages in 2015.

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  • Supermarkets find customers hoarding goods to resell

    Supermarkets find customers hoarding goods to resell

    Some customers have taken undue advantage of its price stabilization program to buy large volumes of goods and resell them at higher prices, leading supermarket chain Saigon Co.op says.

    The Saigon Union of Trading Cooperatives said the unethical hoarding has resulted in frequent shortages of some goods, especially chicken eggs. To deal with the problem, it has had to set limits for the number of eggs each customer can buy at a time.

    Similarly, supermarket chain MM Mega Market has set a maximum limit of 30 eggs per customer.

    Nguyen Nguyen Phuong, vice director of the HCMC Department of Industry and Trade, told reporters Monday that over the past few days, prices at supermarkets and convenience stores have been fairly stable, but some individuals have bought groceries in large volumes for stocking and alleged reselling.

    Relevant organizations have talked to the individuals about the hoarding, and if they continue their unfair practice, market management agencies would handle the issue, he said.

    According to Saigon Co.op, prices of vegetables, fruits, meat, eggs, milk, and rice in its supermarkets have remained unchanged, though those in the markets outside increased sharply.

    Regarding goods orders placed online, Saigon Co.op has delivered over 70 percent, and it is speeding up delivery.

    HCMC imposed its second 15-day citywide social distancing order starting last Friday as the current epicenter seeks to curb the spread of Covid-19.

  • Facebook launches new video shopping feature on iOS devices

    Facebook launches new video shopping feature on iOS devices

    Facebook made all sorts of tools available to those who’d like to shop via its social network. The most recent one is called Live Shopping and it’s now available on iOS devices. The new feature combines the fun (or stress) of online shopping with the convenience of live video.

    iPhone users should be able to start using Live Shopping every Friday starting this week through July 16. Facebook users will be allowed to tune in to the Live Shopping streams on each brand’s Facebook Page or by visiting the Shop tab or bookmark on mobile.

    If anything shown during these live presentations catches your eye, you’ll be able to purchase it by tapping the products featured in the stream and checking. Everything can be done directly on Facebook without having to leave the app.

    Furthermore, Facebook announced the three brands will go live around a common theme each Friday: Glow Up, New Fashion Finds, and Self Care Spotlight. Here is when you can tune in to watch these presentations:

    • Glow Up – May 21, June 11 and July 2 12:00 PM – 1:30 PM PT/3:00 PM – 4:30 PM PT
    • New Fashion Finds – May 28, June 18 and July 9 12:00 PM – 1:30 PM PT/3:00 PM – 4:30 PM PT
    • Self Care Spotlight – June 4, June 25 and July 16 12:00 PM – 1:30PM PT/3:00 PM – 4:30PM PT

    Finally, Facebook revealed the full list of brands that will participate in Live Shopping Fridays until July 16: Abercrombie & Fitch, Alleyoop, Bobbi Brown Cosmetics, Clinique, Dermalogica, Dolce Vita, Sephora, and ZOX.

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  • Indian Consumers Prefer 3D Catalogues As Digital First Trend Takes Off Because Of COVID19

    Indian Consumers Prefer 3D Catalogues As Digital First Trend Takes Off Because Of COVID19

    Eccentric Engine’s One 3D platform has been powering the virtual showroom and 3D catalogs for various automobile OEMs has released a survey which reveals 7.6 million Indians chose to experience cars virtually in 3D on platforms enabled by its technology in 2020.

    It reports a 300 percent increase from 2019 for its visualization platform One 3D. The data is based on 100 million interactions and over 500 respondents spanning tier 1, tier 2 and tier 3 cities. Its platform enabled research for cars in a virtual 3D format.

    Eccentric Engine’s 3D configurator has been in the market since 2018. Most recently, it enabled the 3D experiences for MG Motors, Citroen and Tata Motors.

    “In India, we work with Maruti Suzuki, Tata Motors, MG, Citroen, Toyota, and Nissan. And also with the newly formed Stellantis (which is the whole PSA group plus FCA),” revealed Varun Shah, the co-founder of Eccentric Engine.

    Shah reveals his platform enables users to explore granular details about vehicles, including details that can’t be explored in review videos or online activations.

    The survey revealed that 51 percent of the sessions were from the 6 top-tier cities including New Delhi, Mumbai, Pune, Hyderabad, Bangalore and Chennai. Even Lucknow broke into 3 percent of the digital sessions making its way into the top 10 cities in India. Interestingly, tier 3 cities accounted for 9 percent of the queries which is an impressive number.

    The survey also revealed that 91 percent of the users who experienced the car online ended up buying the same car offline.

    “By intuitively integrating the real and digital world with One 3D we are excited to create an unprecedented level of customer engagement for our OEM partners to understand evolving consumer needs and help them serve their customers better by offering world-class product visualization that can create surprise and delight and personalize their buying experience,” said Varun Shah.

    The survey also revealed that non-resident Indians were making buying decisions for their families in India digitally. 4.6 percent sessions were from NRIs out of which 31 percent were from North America, 32 percent were from the Middle East, 10 percent were from Europe, 5 percent from the UK, 4 percent from Australia, 2 percent Africa and 1 percent from Latin America.

    The survey also showed blue and white were the most popular shades by more than 40 percent. 35 percent people preferred the colour grey, brown and silver. Red, black and orange were preferred by 15 percent.

    Indian automakers have seen a sharp rise in digital interaction over the past couple of years and yes, it’s been largely driven by the pandemic. Audi India, Volkswagen India saw an uptick of 70% in online interface compared to pre-covid times and with new tech, enhancing that experience for customers is going to be paramount. More manufacturers are now getting into the game and innovation is at the top of everyone’s agenda.

  • South Korean retail sales record double-digit growth

    South Korean retail sales record double-digit growth

    Department store sales jumped 40 percent in February against a year-ago period in the biggest year-on-year gain since the data became available from 2005 to suggest a rebound in private consumption in South Korea.

    According to the Ministry of Strategy and Finance’s monthly economic review, department store sales jumped 39.5 percent on year in February, a record-high growth rate since monthly records became published.

    Sales at discount stores also gained 24.2 percent, the largest increase since the 34.8 percent gain in Feb 2015.

    Domestic credit card spending last month rose 8.6 percent from a year ago, rebounding for the first time in three months.

    The boost in consumer spending was spurred by the Lunar New Year’s holiday in early February in a pent-up demand after protracted social distancing measures, the finance ministry noted.

    The figure also goes against poor numbers a year ago when the country was swept up in the first wave of Covid-19 outbreak.

    In Feb last year, the department store sales fell 30.6 percent. Discount store revenue declined 19.6 percent, the biggest drop since Jan 2015 when the figure was down by 24 percent.

    An official from the finance ministry said that the low base effect from last year may have made the February figures look better than they really are.

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  • Fashion giant H&M’s sales recover in March as stores reopen after lockdowns

    Fashion giant H&M’s sales recover in March as stores reopen after lockdowns

    Sales at fashion group H&M fell slightly less than expected in the three months through February and rose in the first half of March as pandemic restrictions were eased in some markets, allowing hundreds of stores to reopen.

    The world’s second-biggest apparel retailer said on Monday net sales fell 27% from a year earlier, or 21% when measured in local currencies, to 40.1 billion crowns ($4.72 billion).

    Analysts had on average forecast a 30% decline in net sales for the period – the Swedish group’s fiscal first-quarter – according to Refinitiv SmartEstimate.

    “Sales development was significantly affected by the COVID-19 situation, with extensive restrictions and at most over 1,800 stores temporarily closed,” H&M said in a statement.

    “Since the beginning of February, a number of markets have gradually allowed stores to reopen and at the end of the quarter around 1,300 stores remained temporarily closed,” it said, adding that online sales had continued to develop very well.

    RBC analyst Richard Chamberlain, who has a “sector perform” rating on H&M’s shares, said the figures implied that online sales had provided a stronger-than-expected boost in February.

    H&M said sales in the March 1–13 period were up 10% in local currencies as many countries, including single-biggest market Germany, began allowing some stores to reopen. However, about 900 of H&M’s approximately 5,000 stores remained closed due to pandemic lockdowns as of March 13.

    Chamberlain said most stores should be open by mid-April bar new lockdowns in Europe, H&M’s main market.

    “As such, we see the potential for a strong sales recovery in the remainder of the year, with potential for gross margin to surprise on the upside, due to the weaker U.S. dollar,” he said.

    Market leader Inditex, the owner of Zara, last week forecast a return to healthy sales as soon as lockdown are lifted, as it reported a 70% fall in profit for its fiscal year through January. It predicted all its shops would be open by mid-April.

    H&M, whose full December-February earnings report is due on March 31, is bracing for a loss in the quarter after the pandemic slashed 2020 profits by 88%.

    Shares in H&M were up 3% in early trading, taking a year-to-date rise to 32%

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