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Tag: trends

  • Prices Plummet in Half of Hanoi’s Historic Apartment Projects

    Prices Plummet in Half of Hanoi’s Historic Apartment Projects

    Hanoi Real Estate Market Sees Moderate Price Declines Amid Shifting Demand

    Recent data reveal a slight downturn in property prices across Hanoi, signaling a shift in consumer trends within the real estate sector. According to a comprehensive analysis of over 400 projects, average prices have dropped by 1% compared to the last quarter of 2024. This trend aligns with findings from property listing platform Batdongsan, which also reports notable price decreases in several residential projects.

    Consistent Price Drops for High-Profile Developments

    In-depth surveys by VnExpress highlight year-on-year price contractions of 2-6% across sought-after projects such as Hanoi Paragon, Mipec Rubik 360, and Master West Heights. For instance, a typical 64-square-meter apartment in Long Bien District is now listed at VND4.4 billion (approximately $169,400), reflecting a decline of 3.9% from the previous year.

    Market Stability Amid Changing Seller Strategies

    While prices of new properties on the primary market remain stable at VND79 million per square meter, many apartment sellers are recalibrating their strategies. Do Thu Hang, Senior Director of Advisory Services at Savills Hanoi, notes that sellers are increasingly seeking to make quick profits and diversify their investments. This shift has prompted many to reconsider their pricing, especially as demand softens.

    Nguyen Hoai An, a senior director at property consultancy CBRE Hanoi, observes that prices of older apartments have surged by 40% over the past two years. However, she warns that the absence of supportive market factors suggests difficulty in maintaining such growth. “Many sellers no longer anticipate large profits and may struggle to attract buyers without price reductions,” she explained.

    Speculative Buyers Face Financial Challenges

    Pham Duc Toan, CEO of developer EZ Property, points out that many current apartment owners are speculators looking to capitalize on quick returns. With only 15-20% of the purchase price paid upfront, some buyers find themselves unable to meet subsequent payment obligations and are thus compelled to offload their properties.

    New Developments Drive Market Dynamics

    The market is further influenced by an influx of new condo supply, with Savills projecting the addition of 7,400 new units by the end of the year, primarily in suburban districts like Dong Anh, Hoai Duc, and Hoang Mai. Looking ahead to 2026, industry experts anticipate that primary market prices may decline as developers pivot toward affordable housing to better align with actual market demand.

    “Reintroducing units priced below VND2 billion will help create a more sustainable balance between supply and demand,” Hang added, emphasizing the importance of catering to underserved segments.

    Implications for the Retail Sector

    This evolving landscape in Hanoi’s real estate market may have significant implications for the broader retail sector. As consumer trends shift and property values adjust, retailers will need to adapt their strategies to align with changing demographics and purchasing power. The current dynamics underscore the necessity for brands to remain agile and responsive in an increasingly competitive environment.

  • Gold Prices Surge to Five-Day High Amid Rising Consumer Demand

    Gold Prices Surge to Five-Day High Amid Rising Consumer Demand

    Vietnam’s gold prices reached a five-day peak on Tuesday morning, reflecting a notable uptick in consumer demand and market activity.

    Local Gold Market Highlights

    The Saigon Jewelry Company reported that gold bars increased by 1.51%, now priced at VND 121.3 million (approximately $4,668.98) per tael, equivalent to 37.5 grams or 1.2 ounces. Additionally, the price for gold rings rose by 1.3%, now sitting at VND 116.5 million per tael. Since the beginning of the year, gold prices in Vietnam have surged by an impressive 44%, driven by robust consumer interest and changing economic conditions.

    Global Market Trends Impact Pricing

    On the international stage, gold experienced a slight decline as easing trade tensions between the U.S. and its trading partners waned the metal’s appeal as a safe haven. As reported by Reuters, spot gold dipped by 0.4% to $3,329.12 per ounce at 02:11 GMT, while U.S. gold futures fell by 0.2%, trading at $3,342.40.

    Market analysts attribute this shift to an improved risk environment, suggesting that optimism regarding future trade agreements has alleviated some concerns. “The sentiment has brightened as market participants are hopeful that the worst of the trade tensions is behind us,” stated IG market strategist Yeap Jun Rong.

    Economic Concerns Linger

    Despite positive trends, there are warnings about potential recession risks looming over the global economy. A recent Reuters poll revealed that many economists believe policies such as tariffs imposed by the Trump administration have negatively impacted business sentiment. Nevertheless, analysts like Rong foresee long-term support for gold prices due to ongoing reserve diversification by emerging market central banks.

    Looking Ahead: Impact on Retail and Consumers

    As gold prices fluctuate, their implications extend beyond investment and into the broader retail sector. The increased consumer interest in gold can influence not only prices but also spark greater activity in jewelry sales and investments. Retailers may see heightened demand as consumers seek to navigate uncertain economic landscapes, ultimately shaping consumer trends and brand expansion strategies in the gold market.

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  • Gold Prices Plummet as Global Rates Decline: Retail Impact Ahead

    Gold Prices Plummet as Global Rates Decline: Retail Impact Ahead

    Gold prices in Vietnam saw a significant decline on Monday morning, mirroring a global downturn in bullion rates which fell by over 1%. This development marks an important shift in the market, reflecting changing consumer trends and economic indicators.

    Vietnamese Market Reaction

    The Saigon Jewelry Company reported a decrease in the price of gold bars by 1.24%, now priced at VND119.5 million (approximately US$4,597.04) per tael. Similarly, gold ring prices dropped by 1.29%, settling at VND115 million per tael. Notably, gold bar prices have surged 40.6% year-to-date, demonstrating a volatile yet upward trend in the sector.

    The State Bank of Vietnam has mentioned it may take steps to stabilize the gold market. In a recent statement, they acknowledged the considerable disparity between domestic and global gold prices and expressed intentions to intervene as needed to address these issues.

    Global Influences on Gold Prices

    Globally, gold prices declined by 1.4%, with spot gold trading at $3,272.89 per ounce. After reaching a record high of $3,500.05 on April 22, bullion’s descent reflects a shift in investor sentiment fueled by easing U.S.-China trade tensions. U.S. gold futures also experienced a slight setback, dropping 0.4% to $3,283.70.

    The strength of the U.S. dollar has made gold less accessible to overseas buyers by raising prices internationally. Tim Waterer, chief market analyst at KCM Trade, noted that improved perceptions regarding tariff negotiations between the U.S. and China have contributed to a reduced demand for safe-haven assets like gold.

    Understanding the Economic Landscape

    Historically, gold serves as a sanctuary during times of economic and political uncertainties. It thrives particularly well in environments featuring low interest rates. As market dynamics fluctuate, investors will be closely monitoring the evolving landscape—especially how potential trade agreements could further impact the value of gold and other commodities.

    As the retail sector navigates these changes, both consumers and investors may need to adapt strategies in response to shifting gold prices, reflecting broader economic trends and consumer sentiments.

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  • Top Financial Leaders Gather in Zurich to Discuss Retail Trends

    Top Financial Leaders Gather in Zurich to Discuss Retail Trends

    Top leaders from the realms of politics, finance, and technology will converge in Zurich for the highly anticipated third edition of the Point Zero Forum. This event, taking place from May 5 to 7, 2025, aims to address pivotal issues impacting the financial sector amid changing market dynamics.

    A Call for Trust and Stability

    Recent turbulence in financial markets has heightened awareness of the need for trust and stability, elements essential for fostering innovation and sustainability within the industry. The Point Zero Forum offers a vital space for high-level discussions focused on the future of global finance.

    Key Themes for Discussion

    As part of its agenda, this year’s forum will tackle several pressing topics relevant to the evolution of financial systems:

    • Path to Europe’s Technology Independence: Explore strategies for Europe to build a solid policy and infrastructure foundation that ensures digital sovereignty.
    • Demographic Challenges: Identify innovative policies that can bolster social and economic inclusion amid significant demographic transitions.
    • Startup Founders Spotlight: Examine how Europe’s entrepreneurial landscape can harness innovation and funding to enhance economic resilience and global competitiveness.

    Esteemed Speakers Lead the Dialogue

    The forum features an impressive lineup of distinguished speakers, including:

    • Guy Parmelin – Swiss Minister at the Federal Department of Economic Affairs and Research
    • Martin Schlegel – Chairman of the Governing Board, Swiss National Bank
    • Andrea Maechler – Deputy General Manager, Bank for International Settlements (BIS)
    • Axel Weber – Former UBS Chairman
    • Mike Dragan – Group Chief Operations and Technology Officer, UBS Group
    • Dirk Klee – Head of BlackRock Switzerland

    A Collaborative Effort

    The Point Zero Forum is jointly organized by the Swiss State Secretariat for International Financial Matters (SIF) and the Global Finance & Technology Network (GFTN), an initiative pioneered by the Monetary Authority of Singapore (MAS).

    As this prestigious gathering brings together top decision-makers, it is poised to inspire actionable insights and collaborative strategies that could reshape the future of the global financial landscape. The outcomes from the forum may significantly influence retail news, consumer trends, and the broader marketplace, ensuring that stakeholders are equipped to navigate the complexities of an ever-evolving financial world.

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  • Avocado Prices Soar to Five-Year High Amid Rising Consumer Demand

    Avocado Prices Soar to Five-Year High Amid Rising Consumer Demand

    In a striking turn of events in the agribusiness sector, avocado prices have surged to VND 40,000 (approximately US$1.54) per kilogram—marking a remarkable 100% increase compared to last year and reaching the highest price point in five years. This significant hike is attributed to a notable supply shortage.

    Farmers Profit Amid Rising Costs

    Hien, a farmer from the Central Highlands province of Lam Dong, is poised to earn VND 100 million from her avocado dealings this year, reflecting a robust 60% profit margin. This profit comes amid challenges; Hoang Anh, a retailer in Ho Chi Minh City, reports a 50% drop in supply from the previous year due to low yields.

    Weather Challenges and Crop Shifts

    The avocado market has been severely impacted by adverse weather conditions that have limited production. Traders like Dang Minh Tien are noting that many farmers have opted to replace avocado trees with more profitable fruits such as durian and coffee, further exacerbating supply issues.

    Quality Assurance in Retail

    In response to the rising prices, retail chains like MM Mega Market are taking steps to assure consumers of quality. The chain now offers avocados with a green sticker to indicate that the fruits are of high quality and free from chemical residues, catering to the increasing consumer demand for premium produce.

    Area Under Avocado Cultivation Declines

    According to agricultural authorities in Lam Dong Province, the area dedicated to avocado cultivation is diminishing, with approximately 8,000 hectares currently in production, yielding around 80,000 tons annually. As farmers pivot towards crops with better profitability, the future of the avocado market remains uncertain.

    Potential Impact on the Retail Sector

    As avocado prices climb, the ripple effects on retail dynamics and consumer behavior are becoming apparent. This trend could drive consumers towards alternative fruits or encourage the cultivation of avocados in other regions, reshaping consumer trends in the fruit market. Retailers will need to adapt to these shifts to meet evolving consumer demands effectively.

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  • Suntory to Raise Prices in Japan Amidst Rising Consumer Demand Starting October

    Suntory to Raise Prices in Japan Amidst Rising Consumer Demand Starting October

    Suntory Beverage & Food Limited is set to implement price revisions for its products in Japan, effective October 1, 2025, as it grapples with escalating manufacturing and logistics costs. This move underscores the increasing economic pressures felt across the nation.

    Rising Production Costs Prompt Price Adjustments

    In a recent statement, Suntory highlighted the challenges it faces in today’s economic climate, which have led to unavoidable price hikes. The adjustments will impact a range of products packaged in PET bottles, cans, and other containers. Specifically, prices for PET bottles will increase by 6% to 25%, while can prices will rise between 10% and 24%.

    Commitment to Quality Amid Challenges

    Despite these necessary changes, Suntory remains steadfast in its dedication to innovation and productivity. The company emphasized its goal of delivering high-quality, safe, and reliable products that enhance consumer experiences. “We aim to continue providing new value and enriching the lives of our customers,” a company spokesperson stated.

    Looking Ahead: What This Means for Consumers

    These price revisions reflect broader consumer trends influenced by rising operational costs. As Suntory navigates these challenges, it continues to strengthen its brand presence in the competitive beverage market. Consumers can expect to see these new prices taking effect in the coming months, reshaping the retail landscape in Japan.

    Suntory’s decision is a critical indicator of the evolving retail sector, as brands adapt to economic realities while striving to maintain quality and consumer trust. The coming months will be crucial in determining how these changes affect purchasing behavior and overall market dynamics.

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  • Gasoline prices climb up 2 weeks in a row

    Gasoline prices climb up 2 weeks in a row

    Gasoline prices on Thursday afternoon went up for the second week after plunging non-stop since mid-August.

    The popular fuel RON95 rose 3.80% to VND20,510 (US$0.83) per liter.

    Diesel went up 2.7% to VND 17,500.

    Regulators said that fuel prices in the last seven days were affected by rising tension in the Middle East, China’s economic boost, and ongoing Russia-Ukraine military conflict.

    Gasolines rose 5% while oils added 2.3-4.6%. RON95 is now priced at $85.6 per barrel and diesel $84.4.

  • Industry-First Marketplace Research Reveals only 7% of Australian Shoppers Trust Temu on Product Quality, while Amazon leads for Convenience, Range, and Returns

    Industry-First Marketplace Research Reveals only 7% of Australian Shoppers Trust Temu on Product Quality, while Amazon leads for Convenience, Range, and Returns

    An industry-first study by global ecommerce accelerator, Pattern, has shown that despite their surging popularity, Australian consumers hold negative views on the quality of the products sold on emerging marketplaces Temu and Shein.

    The major Australian marketplace shopper study uncovered Australian consumers’ perceptions of the seven largest marketplace platforms: Amazon, eBay, Catch, Kogan, Temu, MyDeal, and Shein.

    Temu was ranked as the lowest marketplace in perceived product quality at only 7%, followed by Shein, with just 8% of shoppers expressing trust in its product quality. This contrasts with a majority of shoppers saying that they trusted the quality of the products sold on Amazon.

    “Temu and Shein have burst onto the Australian ecommerce landscape, attracting large numbers of younger shoppers. However, these platforms still have to play a lot of catch-up to win over Australian consumers, who didn’t rate them highly for product quality, returns, and convenience,” said Merline McGregor, General Manager of Pattern Australia.

    “With a transparent product rating and review system built into its platform that educates and builds shopper trust, Amazon has become the most trusted marketplace in Australia in relation to the quality of products it sells. This is an area where Amazon leads the sector at 58%, with eBay trailing at 39%, followed by Catch (25%), Kogan (19%) and MyDeal (11%).”

    Marketplaces attract shoppers as cost-of-living pressures bite

    As cost-of-living pressures rise, Australian consumers are increasingly turning to marketplaces to research, compare, and purchase. A large majority of Australians shopped on a marketplace in 2023, with a staggering 94% planning to buy from platforms like Amazon, Catch, and eBay over the coming year.

    “With strained household budgets, marketplaces are attracting an increasing number of shoppers with their easy-to-use price comparison functionalities and sales events. With its globally recognised Prime Day event gaining popularity in Australia, Amazon has become the leading marketplace for value-for-money purchases, attracting 48% shoppers, followed by eBay at 41% and Catch at 27%,” said McGregor.

    Not only are marketplaces attracting higher volumes of shoppers, but they are more likely to secure high income shoppers in 2024. Today, over 80% of $200K earning households shop on Amazon. Even newer marketplaces like Shein attract high income consumers, with 34% of those in the $160-$199k household income bracket buying from the platform in the past 12 months.

    Amazon wins for convenience and returns

    Amazon outperforms all other marketplaces in relation to ease-of-use shopping, with 56% of consumers highlighting it was the most convenient platform to buy from, compared with eBay (46%) and Catch (23%).

    This can be attributed to Amazon’s Prime membership benefits, where shoppers get free, fast shipping and the platform’s advanced search and recommendation algorithms that personalise the shopping experience.

    Given the sophisticated supply chain infrastructure it has established in Australia, 49% of shoppers also said Amazon has the most reliable returns process – significantly more compared to any other single marketplace.

    Brands need to be present on platforms with biggest product ranges

    Just over 60% of Australian shoppers believe Amazon has the widest product range, followed by eBay at 52%. All other platforms lagged – Catch, 20%, Temu, 17%, Kogan 14%, Shein, 11% and MyDeal 8%. Offering the most product variety and options also buys marketplaces the highest web clicks, with Amazon averaging 75.2 million monthly site visits and eBay 50.9 million.

    “It’s no surprise there’s a direct correlation between marketplaces perceived to have the best product ranges and those platforms, like Amazon, that attract the highest volumes of web traffic. Brands need to be present where their shoppers are. While the larger marketplaces may have more competition, they also have the biggest audiences of potential shoppers to target,” concluded McGregor.

    For more information and to download the full report please click here: ‘Australian Marketplace Consumer Trends Report – 2024’ 

    Research Methodology

    Pattern worked with OnePoll to survey 1,000 Australian consumers. Responses were collected online, and the survey was restricted to adults who had shopped online in the previous 12 months ensuring there was a representative sample of age, gender and location achieved.

    About Pattern Inc

    Pattern is the category leader in global ecommerce and marketplace acceleration. Since 2013, Pattern has profitably grown to more than 1,100 employees operating from 22 global locations – including Melbourne, Sydney and the Gold Coast – to help leading brands achieve accelerated growth on D2C websites and global marketplaces. As well as being one of the largest Amazon sellers in the world, we are also present on Tmall, JD.com, eBay and other marketplaces. ​​We act as the authorised Amazon seller to more than ​2​00 brands​ globally​, buying their stock to sell on the marketplace and taking care of every aspect of their Amazon presence. In 2018, Pattern acquired Practicology, a global digital consultancy and agency with a presence and strong client base in Australia. For more information, visit https://au.pattern.com/ .

    Media Contact

    Corinne Nolte

    Mulberry Marketing Communications

    [email protected]

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  • Amazon Surpasses eBay as Leading Australian Marketplace for First Time

    Amazon Surpasses eBay as Leading Australian Marketplace for First Time

    In an industry first, Amazon has overtaken eBay to become the leading marketplace in Australia according to new research from global ecommerce accelerator, Pattern.

    Marketplace shopping has also become mainstream in Australia, with research highlighting 93% of people shopped on a marketplace in 2023 and 94% plan to buy from platforms like Amazon, Catch, Temu, and eBay over the coming year.

    The findings were revealed as part of Pattern’s sixth annual ‘Marketplace Consumer Trends Report – 2024,’ which researched Australian shoppers’ changing ecommerce habits and the latest marketplace trends.

    Australian marketplace sector experiences major disruption

    The Australian marketplace sector is expanding and being disrupted. Emerging platforms Temu and Shein have rapidly gained significant market share, with 25% of shoppers buying from Temu and 21% from Shein, while established platforms like Catch and eBay underperformed in 2023.

    Amazon has grown to become the dominant local marketplace and is projected to reach $5.5 billion in Australian turnover by the end of the current financial year. Amazon now outperforms all other marketplaces on average monthly site visits, including eBay by a significant 48% over the last three months of 2023, to achieve an average of 75.2 million monthly site visits.

    “New marketplace entrants into Australia, like Temu, are shaking-up the sector and quickly attracting consumer interest. However, it’s expected that Amazon’s leading market position will only grow, as the platform wins shoppers with competitive prices, the widest product range and ease-of-use shopping via Prime,” said Merline McGregor, General Manager, Pattern Australia.

    Amazon is also on track to achieve the highest growth rate of any marketplace in 2024, with 63% of Australians planning on buying from the site (+6% annual growth) compared to a projected 8% decrease in people planning to buy from eBay. Notably, 80% of shoppers who were in the $200k income bracket bought on Amazon, reflecting its strong reach among higher-income consumers.

    Ecommerce shopping habits evolve in the face of cost-of-living challenges

    Despite the increased pressure on Australian consumers’ discretionary spending, research shows that shoppers will continue to buy online. The ecommerce market is projected to reach AU$64.14bn this year, with the share of retail goods purchased online set to increase from 15.6% in 2023 to 17% by the end of 2024.

    Nevertheless, cost-of-living pressures will impact consumer budgets in 2024, with many looking to stabilise their retail spending. This is represented by a significant decline (-29%) in those intending to spend more online this year.

    “With cost-of-living pressures and an uncertain economic outlook, many consumers will cut costs and evolve their shopping habits this year. For instance, shoppers are more likely to take advantage of major sales events, following a 20% growth in consumer participation in Black Friday / Cyber Monday in 2023. Research also shows that shoppers are opting to visit retail stores for a hands-on evaluation of products. This trend suggests a more thorough pre-purchase assessment, evidenced by a notable 36% decrease in consumers intending to buy products online that can typically be found in-store,” observed McGregor.

    The evolution of product discovery

    Google’s product search supremacy is slipping, with a year-on-year decrease in the percentage of people using it to research products. Shoppers are now also going direct to retailers for inspiration (+6%), along with marketplaces, such as Amazon, which has grown by 59% in popularity. However, marketplaces rising as a research tool is not uniform, with eBay dropping by 19%.

    “Marketplaces today have an abundant volume of goods for consumers to search. These platforms build confidence with shoppers to research and purchase new products through enhanced transparency and credibility. This is achieved by providing real-world product reviews and informative answers to product page questions,” said McGregor.

    What products will consumers buy from which marketplace in 2024?

    Pattern’s research asked consumers what they were likely to buy in 2024 and through which marketplace, with the results indicating:

    • Amazon’s key shopper categories are Books & eBooks (26%), Electronics & Computer (24%) and Home & Kitchen (24%).
    • eBay is competitive across a range of categories, including Electronics & Computer (17%), Home & Kitchen (16%) and Clothes, Shoes & Accessories (16%).
    • Catch is popular for Toys, Kids & Baby (12%), Home & Kitchen (10%).
    • Kogan will remain strong in Electronics & Computer (11%), Home & Kitchen (9%).
    • Shein is set to grow through Clothing, Shoes & Accessories (16%).
    • Temu attracts shoppers with Clothing, Shoes & Accessories (10%), Home & Kitchen (7%).
    • My Deal’s sales will come from Home & Kitchen (5%) and DIY Home Improvement (4%).

    “The popularity of key product categories across marketplaces is linked to numerous sellers offering similar items which brings about fierce competition, ongoing promotions, and aggressive pricing. In this dynamic and challenging landscape, brands must implement an effective marketplace strategy and collaborate with the right partners to attract business and thrive,” concluded McGregor.

    For more information and to download the full report please click here: ‘Australian Marketplace Consumer Trends Report – 2024’

    Latest research from Pattern reveals current Australian consumer trends, with 94% of shoppers to buy from a marketplace over the coming year

     

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  • Fendi opens first flagship boutique in South Korea

    Fendi opens first flagship boutique in South Korea

    Fendi has opened the doors to its first flagship boutique in Seoul, South Korea. Dubbed “Palazzo Fendi Seoul,” the 715 square meter (approximately 7,696 square feet) store is located in the Cheongdam-dong neighborhood of the city and houses the brand’s women’s and men’s ready-to-wear and fur collections, shoes, accessories, leather goods, and home accessories across four levels.

    The impressive façade combines geometric diagonals in stainless steel finishing and central glass windows that converge towards the corner of the building, through a modern and urban reinterpretation of classic Roman patterns.

    The façade is emphasized by LED arches, Fendi signature element recalling those of Palazzo della Civiltà Italiana – Fendi’s Rome headquarters.

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  • E-Commerce Trends to Watch in 2022

    E-Commerce Trends to Watch in 2022

    Not only does e-commerce represent the largest single commercial retail sector, but also one of the fastest evolving. With new technologies, modalities and platforms emerging constantly, it can be challenging to stay ahead of the curve.

    If you’re a business looking to keep up with the latest movements in e-commerce in 2022 and beyond, take a look at these prevailing trends below and explore ways of integrating them into your operations.

    Let Customers Have Their Say

    The standards for accountability and customer feedback have developed significantly over the past decade. Now, more than ever, consumers are turning to third party review platforms to assess the quality of service and support provided by your organization.

    In line with the maxim that “if you can’t beat them, join them”, a beneficial strategy is to assist your customers in leaving reviews on these platforms. Not only does this cast your store in a beneficial light by demonstrating that you’re open to criticism and accountability, but it enables users to more quickly vet your brand for customer satisfaction.

    While some many argue this can be a double-edged sword, particularly if your business has struggled with achieving satisfactory ratings in the past, the reality is that the likes of Trustpilot and Yelp are now part of the ecosystem of modern e-commerce and any steps you can make to facilitate that process are going to beneficial to your brand identity and impact in the long run.

    Online Comparison Platforms (OCPs)

    OCPs have been among the fastest growing e-commerce sectors in the 21st century, and for good reason. With so much choice now available to consumers, an entire industry has grown up around pairing down the options and providing targeted recommendations for customers accosted with information overload.

    Online comparison platforms are mostly closely associated in people’s minds with securities and investments, and it’s true that, to date, the largest and most recognisable platforms belonging to this sector have been focused on connecting people with good rates on financing.

    Yet if one looks further afield, it becomes easy to see that online comparison platforms exist, and are operating, within diverse market sectors around the world. One of the most popular applications for these platforms is in retail, with companies like Amazon Marketplace and Pricerunner vying to connect online shoppers with the best deals and offers on thousands of products, from consumer electronics to apparel.

    Elsewhere, online comparison platforms have emerged as a leading means by which iGaming aficionados select providers to patronize. For example, Emiratis looking for recommendations on the best online casinos in the UAE have come to rely on ArabianBetting as a leading resource of this information.

    This is because this platform not only collates the best casinos available in their market, but, like other comparison platforms, aims to connect them with the most competitive deal – in this respect in the form of special promotions and sign-up bonuses.

    Give Patrons Payment Options

    The emergence of e-wallets, Fintech banks, and cryptocurrencies have all contributed to impacting people’s spending habits online. While, in the past, it was reasonable to simply provide a secure card payment processor for your customers to use when paying at check-out, increasingly nowadays people have to expect a wider array of options.

    While we wouldn’t recommend a brand offer payments in crypto unless it makes up a key part of their marketing strategy, offering alternative payment providers like PayPal, Venmo and CashApp can go a long way in decreasing friction for customers shopping from their smartphones.

    Additionally, the rise of Buy Now, Pay Later platforms like Klarna mean that such financing options have come to be expected as the norm in certain sectors such as apparel.

    Failing to match features like these if they’re offered by your rivals is a sure-fire way to drive business away from your brand.

    Sustainable Focus

    Any e-commerce brand worth their salt in 2022 must be doing more than paying lip service to sustainability and green values.

    There are many ways that brands can decrease their carbon footprint and environmental impact, from substituting wasteful packaging for recycled cardboard, to offering bundled deliveries or store pick-ups to decrease emissions.

    Consumers are coming to expect these measures, and signaling your commitment to improving sustainability can be a determining factor in attracting new customers to your platform.

     

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  • Vietnamese buy Bitcoin in hope it has bottomed

    Vietnamese buy Bitcoin in hope it has bottomed

    Many investors are buying Bitcoin after the cryptocurrency’s price fell to US$20,000, its lowest level since December 2020. Thanh Binh of HCMC says he turned off notifications on his crypto trading app after buying it at $38,000 and losing over VND40 million ($1,720).

    But he has returned and bought a 10th of a token after prices dropped below $20,000.

    “The market has bottomed out and will recover by the end of this year, and so this is the right time for buying in,” he says hopefully.

    Hai Ly of the southern province of Dong Nai has invested VND70 million in Bitcoin and Ethereum, the two largest tokens by market cap. She wanted to diversify her portfolio and thinks their current prices are reasonable.

    She says Bitcoin operates in four-year cycles, and prices fall sharply at the end of each cycle before scaling new peaks.

    “The current cycle started in January 2019 and ended between May and July this year. Considering other factors, the current crypto slump is not abnormal.”

    Prices will recover and hit a new peak by mid-2023, she says.

    Many investors see an opportunity in the current fall in cryptocurrency prices though the recent sell-offs wiped billions of dollars from the market.

    Search related to Bitcoin has surged to the highest levels in a year according to data from analytical website Google Trends.

    Hope is also fueled by rumors that Binance, the largest cryptocurrency exchange, has quietly bottom fished a large amount of Bitcoin.

    Over 100,000 tokens have been added to the exchange’s cold wallet (physical device that keeps cryptocurrency completely offline), crypto-focused site Coingape has discovered from on-chain data.

    They amount to 0.5 percent of all mined Bitcoin and are worth over $2 billion at current prices. But CEO Changpeng Zhao denies it, saying the increase “means more users deposited in Binance.”

    Money is also coming into crypto-centric investment funds. They have raised over $125 million in the week ended June 6 and $506 million in the year-to-date, asset management company CoinShares reported.

    Short-term Bitcoin funds, mainly used for speculating on the cryptocurrency’s slump, received $1.3 million. Bitcoin is being traded the fastest in a year, Yahoo Finance said.

    But there are risks associated with bottom fishing Bitcoin and other cryptocurrencies, experts warn.

    Le Sy Nguyen, ASEAN regional manager of crypto exchange Bybit, says current prices are not attractive.

    The collapse of cryptocurrency Luna and its paired stablecoin Tether, and recent interest hikes in the U.S. have greatly affected market sentiments, with many investors opting out trading on extreme fear.

    “Anything can happen in this [volatile] period, which poses great risks to investors who try to benefit from bottom fishing in the short term.”

    He says investors should invest for the long term or wait until the market stabilizes. “But no one can be sure whether it has hit bottom.”

    The slump could prolong until the end of this year, he says.

    The founder of a digital assets startup, who does not want to be named, says it is impossible to give advice on whether to buy or not at the “current sensitive time.”

    “It is inappropriate to evaluate digital assets using methods used for stocks, as they do not generate income like companies The number of wallets, users and transactions are key indicators of this market.”

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  • UBS CEO Ralph Hamers’ Fintech Trends for 2021

    UBS CEO Ralph Hamers’ Fintech Trends for 2021

    The Singapore Fintech Festival is currently discussing the hot new trends for the fintech business in 2021. UBS Chief Executive stayed in Switzerland, but he can be trusted to know where things are heading.

    Ralph Hamers – Mister Fintech among the banking CEOs – has been in charge of Switzerland’s largest bank, UBS, for about a month. He didn’t fly out to attend the Singapore Fintech Festival in person.

    Instead, he took part at an event hosted by Switzerland Global Enterprise, which on Monday had launched the information platform finance.swiss at an event billed as World Fintech Festival in Switzerland.

    He used his time to present an overview of the big trends in fintech in the coming year.

    1. Neobanking: Source of a New Business Model?

    As a CEO of a traditional bank, Hamers maintains the view that neobanks such as Revolut, Monzo, or N26 have no business model to speak of. Neobanks may be digital and mobile, but their sole characteristic from a business point of view is growth. But that’s hardly a business model to speak of.

    Hamers believes that the so-called Freemium-Model, which entails a basic free-of-charge service, won’t suffice to run a successful business. To be true, neobanks have so far defined themselves by the number of clients won as well as the number of financing rounds completed. But one day, investors will want to get a return on their investment. Hamers says time will tell how the new banks will manage to earn money.

    2. Robo-Adviser: Whereto Henceforth?

    Robo advisory seems doomed in Switzerland. They only work in connection with personal advice from a bank in a kind-of hybrid model. Hamers believes that robo advisers and algorithms have proven their ability to deliver good results. But only few people actually want to entrust their money to a robot. Therefore, the raison-d’être of robo advisers gets lost – namely the leveraging and the ensuing benefit of scale.

    To get clients to trust the robot advisory system, advisers have started offering personal consultancy services. The problem of how to scale the business remains though, Hamers says. He believes that efforts will be made to address the problem in 2021.

    3. Tokenisation: Huge Potential?

    UBS CEO Hamers pronounced himself a great supporter of tokenization and digitization of assets. He may have been obliged to say so given that the event was hosted by SIX CEO Jos Dijsselhof and Chairman Thomas Wellauer at the Convention Point. The digital exchange SDX aims to become the first regulated exchange for tokens and digital assets.

    Tokenization is a fintech trend with huge potential, Hamers said. UBS has been working on such projects for some two years. He believes that there is work to be done still to free the full potential of tokenization.

    4. Green Fintech: Two Trends Merged

    Green fintech – a no-brainer according to Hamers: fintech and sustainable investing are trends and combining the two is simply perfect. In Switzerland, green fintech is a trendsetter and has become a founding principle for the financial market strategy. In November, the government launched the green fintech network that brings to one table business, associations, risk capital, universities, consultancies, and law firms.

    One great example of what green fintech is able to is the application provided by Yova, where clients can engage in impact investing. Zurich-based Globalance Bank helps clients understand the ins and outs of green investing by displaying the emissions and energy use of a portfolio.

    5. Open Banking: Perfecting a Symbiotic Existence?

    Not a new trend, but one that might prove disruptive, according to Hamers: open banking. If banks don’t open their business to a third party, they risk disintermediation, the destruction of supply chains. If banks however choose to open their business, they can retain client access, even if the best offering for a specific service no longer is its own one. UBS is moving toward open banking, as was shown by its announcement on Monday that it will cooperate with finance platform Financescout24.

    Open banking is creating a win-win situation, says Hamers: fintech that lacks the resources to build their own customer base, receive access to an established market. And the banks get access to technology and digital services they couldn’t develop themselves.

    6. E-Identity: Key Behind It All

    The e-identity is a hotly disputed political issue, and not a trend. On March 7, 2021, Swiss voters will decide on the legal framework for a state-approved electronic identity. The contentious issue is the separation of powers between state and economy. Only the approval of a signature will remain a state prerogative, while private firms can launch an e-ID.

    Hamers understands the issue of data protection and demanded an international framework agreement on the protection of personal data when still at ING. But he equally firm in his belief that no digital economy can survive without an e-identity. It is the key to success behind any fintech trend, he said in Zurich.

    He may have read up on the fine print of Swiss direct democracy because if the electronic identity fails, many a fintech trend will founder. It would tend to take another two to three years before Switzerland will count on an E-ID. And that’s a long time in the digital economy.

  • Chinese consumer trends are changing

    Chinese consumer trends are changing

    Covid-19-induced changes in consumer behavior could prove a new tidal change in the direction of China’s influence, according to new research by market intelligence agency Mintel.

    The report suggests that mass self-quarantine, caused by the outbreak, will leave an indelible shift in how Chinese consumers – and through the country’s influence, Asia-Pacific – behave going forward.

    The research shows that most consumers across Asia-Pacific are active online while they have extra time on their hands, suggesting that brands can use live stream, online, and interactive ways to engage with their customers at home.

    According to the data, three-quarters of consumers across Asia-Pacific agree that they find themselves wanting to learn more about things than they used to, including information on brands as well as social issues – creating an opportunity for brands to offer authoritative expertise. Elderly people, previously reticent to shop online, are now coming to terms with the technology.

    Mintel has pointed out distinct benefits to both consumers and brands in having consumers’ time, technology, and attention. In China, the group has seen live-stream presentations by chefs, gym instructors, club DJs, real-estate agents, new movie releases, performers, farmers, auto dealers and retailers.

    “Even while online shopping has been boosted, and food delivery carries on (despite delivery restrictions), will the slow-it-all-down zeitgeist lead to a furthering of the shift towards consumers seeking more meaningful experiences, rather than just accumulating things?” Mintel asked in a statement. “Based on Mintel’s 2030 Global Consumer Trends, we think so.”

    The group advises that just as in wartime, brands need to keep marketing their products and services while innovating their strategy through changes in the consumer market, including the effect of the epidemic.

    As China now begins its economic reboot and supply chains regain traction, Mintel contends that we will witness a reconfiguration of industries into new consumer behaviours.

    Lees ook:

    Lees ook:

  • Burberry partners with The RealReal to promote circular fashion trend

    Burberry partners with The RealReal to promote circular fashion trend

    Global luxury brand Burberry has collaborated with The RealReal, an authenticated luxury consignment marketplace, to help promote the concept of circular fashion.

    The purpose of the partnership is to promote the advantages of a circular economy for fashion by encouraging customers to give unwanted branded items a second lease of life through resale, as billions of dollars are lost annually due to clothing not being used or recycled effectively.

    “Leading the way in creating a more circular economy for fashion is a key element of our responsibility agenda,” said Pam Batty, VP corporate responsibility at Burberry. “The RealReal shares our ambition to promote the circular economy and keep clothing in use for longer. We know that the enduring quality of Burberry pieces means their appeal and value is long-lasting. Through this new partnership, we hope to not only champion a more circular future but encourage consumers to consider all the options available to them when they’re looking to refresh their wardrobes.”

    According to The RealReal, resale demand for Burberry has increased by 64 percent year on year, with searches for Burberry on the site rising fastest among millennials and Gen Z customers.

    “A brand as storied as Burberry embracing the circular economy demonstrates the power of resale’s impact on both the luxury market and the planet,” said Julie Wainwright, CEO of The RealReal. “I hope together we’ll be a part of pioneering a future in which circularity is a consideration for every luxury brand.”

    Burberry and The RealReal have contributed to Materials for the Arts to support its work in helping people reconsider the way they look at materials and waste, raise awareness of the importance of creative reuse.