Posts

Wind down from a busy day with some ecommerce highlights of the day.

 

1. Indonesia’s Kudo raises an eight digit funding round from Emtek

Kudo CEO Albert Lucius said, the funds will be used to establish a “network presence” throughout suburban and rural areas in Indonesia. Read the full story here.

 

2. 1 in 10 of online shoppers get cold feet and abandon their basket

The report also found that price savvy younger consumers (18-to-24 year-olds) are the most difficult age group to convert from online browsers to buyers. Read the full story here.

 

3.  Thai Banks, NBTC agree on 5 step m-banking security plan

The participants have agreed on a five-step plan to tighten KYC rules to increase confidence in eBanking and mobile banking in the run up to the launch of Thailand’s Promptpay national mobile payments system. Read the full story here.

 

4. Coach closes handbag shop on Alibaba’s Tmall

A Coach spokeswoman declined to explain the reasons behind the decision, beyond saying it wanted to consolidate resources. Read the full story here.

 

5. Ant Financial Buys Startup EyeVerify For $70M, Eye Scan Payments in the Works For Alipay

EyeVerify checks identities through eye-vein patterns and creates a digital key equal to a 50-character complex password. Users hold their smartphone about 12 inches from their face so a picture can be taken, opening up apps or websites on their device. Read the full story here.

Nike is undergoing a fundamental shift in its digital strategy by introducing a brand new Nike+ mobile application, reports Forbes.

The shift stems from the assumption that consumers are increasingly using their phones to purchase shoes and apparel online. Nike needs to establish their digital platform to maintain market dominance.

Nike introduced its new Nike+ app, which is more than another shoe and apparel company designed to track performance.

This stand-alone app actually provides the user with a feed of stories, personally tailored to meet their interests, and to a store with highlighted products that makes it easy for a consumer to busy straight from the Nike brand.

“Many of the other apps in the world are focused on customer acquisition. What we really see is the opportunity to extend and deepen the relationship with customers, making it more than a dashboard of data,” says Nikki Nueburger, Vice President, Global Brand Running at Nike.

Brands and retailers are increasingly investing in digital strategies that allows them to directly reach customers, as having direct access allows for total brand control and better hold of consumer data.

A standout function of the Nike+plus app is “Reserved For You” invitations. Users can personally set aside products in their size or events in their city that they can reserve without setting an alarm or going online at a specific time.

At the end of June, Nike reported fiscal 2016 fourth quarter and full year results, which emphasized the company’s shift to focusing on direct-to-consumers initiatives. The company reported a 7% increase in operation overhead expense to $1.9 billion, reflecting continued growth in the direct-to-consumer business.

“It’s always been about getting the right product in the hands of the consumer based on their needs”, said Neuburger.

Nike also launched its first purely digital studio in New York this week, in tandem with the launch of Nike+ app.

A version of this appeared in Forbes on August 2. Read the full version here.

Online shopping is surging in the Philippines, ecommerce is expected to reach $4.69 billion by 2020, reports Tech In Asia.

More and more Filipinos are getting their hands on smart devices and combined with lower mobile data offers, it shouldn’t come as a surprise that online shopping is the next big wave in Philippines.

Filipino shoppers have swapped bulks for baskets

In 2012, The Nielsen Group found that shoppers in Philippines have switched their shopping carts for baskets. With plenty of convenience stores and grocery shops within walking distance from residential areas, most people don’t feel the need to buy in bulk.

Although Lazada currently holds the largest market share at 80%, they are still competing with Zalora, Hallo-Hallo and Go Buy.

One of the strongest driving forces for the average shopper is the deals offered by online marketplaces. Nine out of ten shoppers admit to usually buying more than planned for, opening up doors for retailers to try all sorts of promotions, from free items to ‘buy 1 get 1 free’ options.

Ecommerce has also taken off alongside increasing e-payment options. Aside from GCash and Smart Money (Smart Communications), alternatives such as DragonPay, PayPal, 7 Connect from the 7 Eleven franchise and Hello Pay have made online payments much easier for Filipinos.

How to capture the Filipino consumer

  • Exclusivity: Consumers, especially Filipinos, love to be at the forefront of new trends. Websites like Straightforward.ph have small inventories but ensures high quality. The site also features a 365-day guarantee, free of charges and fees.
  • Customer Service: Websites such as Unlideals.com respond to customer queries within 24 hours.
  • Customization: Look to websites such as Hallo Hallo Mall, it provides customers with value per transaction with their point system. The site customizes the discount experience by letting users earn their own points, and use those to get the saving they want.

The market in Philippines is large enough for the ecommerce giants such as Lazada to make room for smaller players, as long as they make it a priority to diversify.

A version of this appeared in Tech In Asia on July 14. Read the full version here.