Alibaba's Operating Margin in 2018 at the Lowest in Seven Years, Core Commerce Division Only Grew 40%
The company’s revenue report for 2018 unveils that Alibaba Group sees a decline a revenue and a narrowing of margins since the start of the year and the campaign months did not save the disappointment. By the final innings of 2018, sales climbed 41%, the slowest rate since 2016.
The erosion of margin was explained by Alibaba’s executives that it was the result of the consolidation of subsidiaries, higher costs to drive new businesses or spending on streaming content.
honestbee Temporarily Pauses Its Partnership with Singapore's FairPrice Due to Company's Services and Processes Review
The decision for honestbee to halt its grocery concierge service for FairPrice products is due to a “review of the existing operations and collaboration process”. However, it’s worth noting that the suspension comes after honestbee launched its first brick-and-mortar grocery store in October.
As Chinese New Year is drawing closer, the suspension spurs anger among Singaporean shoppers. It was reported that honestbee barely gave the shoppers any notice.
Singapore's Shopping Avenue to Be Rejuvenated, Introduce New Retail Concepts, Attractions, and Entertainment to Increase the Foot Traffic at Orchard Road
The Singapore Tourism Board, Urban Redevelopment Authority and National Parks Board (NParks) have proposed new plans to bring the country’s shopping street, Orchard Road, to live. Retail concepts, attractions, entertainment, and events will be introduced to get people to linger longer at the avenue.
Plans to rejuvenate Orchard Road were first announced in 2017. These included using state land for pop-up concepts and events, creating a local retail showcase and making the street more pedestrian-friendly.
The new headquarters will house all of Grab’s employees in Singapore. It will also be Grab’s largest R&D center. The new head office of the ride-hailing giant is expected to be ready in the fourth quarter of 2020. Grab has plans to create and hire for a thousand more roles globally over the next 12 months.
This is the second office announcement rolled out by Grab this week. On Tuesday Grab announced an opening of its new office and R&D Center in Malaysia, which is said to create 400 new high-value jobs.
Online Grocer RedMart Shuts Down Its Business to Merge with Lazada, Signals Lazada's Push in Online Supermarket
In 2016, Lazada acquired online grocer RedMart in Singapore. Today, Lazada announces that it will fold RedMart into its platform by March 15. According to Lazada, this move comes as part of the group’s plan to accelerate the growth of its supermarket business in Southeast Asia.
Existing RedMart customers can continue shopping on the app and website until 11.59pm on March 14, before the migration kicks in. Thereafter, they will have to download the Lazada app to continue using the service. Orders on the new RedMart on Lazada will continue to be fulfilled by RedMart.
Foodpanda Opens Pop-up Restaurant in Thailand To Stay on Top of the Aggressive Food Delivery Competition
The new pop-up restaurant in Bangkok, known as KRUA (kitchen) by Foodpanda, features several of its restaurant partners and is aimed to provide more food variety for residents living in the On-Nut area.
Foodpanda understands the competitive landscape of the food delivery sector. With major players coming to the market, a pop-up restaurant is Foodpanda’s option to stay ahead. KRUA by Foodpanda is a pilot project and is expected to expand to other parts of Bangkok.