The post Chinese Fast Fashion Brands Surge Amid Global Scrutiny, Projected to Reach $1.4 Billion by 2028 appeared first on Marketing In Asia.
]]>Authored by Jelou Galang, the report, titled ‘Why are Chinese shoppers progressing to homegrown fast fashion?’, features insights from Xiaojing Huang, a renowned design trend expert and strategy director of YANG DESIGN, and Ambra Schillirò, the co-founder of China Fashion Group. The report highlights the increasing allure of homegrown brands among Chinese consumers.
In May 2024, the season finale of Saturday Night Live humorously spotlighted the controversies surrounding Chinese fast fashion through a satirical ad featuring ‘Xiemu,’ a playful nod to Shein and Temu. The e-commerce fashion market in China is expected to reach $236.8 billion by the end of 2024, with women’s apparel leading the charge at $328.4 billion.
Shein dominated search rankings as the most Googled global fashion brand in 2022, surpassing industry giants like Nike and Zara. International brands like H&M and Zara are struggling to compete with local powerhouses on platforms such as Alibaba’s Tmall and Taobao. The rise of brands like Metersbonwe, Peacebird, and Youngor has led to strategic exits from global players, including Urban Outfitters and Old Navy, with Gap selling its China operations to focus on untapped potential elsewhere.
Cultural and geopolitical dynamics significantly influence consumer preferences. Boycotts and market exclusions following brand stances on Xinjiang cotton have underscored China’s importance as the world’s second-largest e-commerce market, with an online shopping population nearing 915 million as of December 2023. A strong preference for domestic brands has emerged, driven by the ‘guochao’ movement, which reflects national pride and cultural revival.
Ambra Schillirò notes, “The rise of guochao goes beyond fashion; it signifies a broader embrace of national identity and cultural revival, influencing consumer choices across sectors.” This cultural confidence is evident in the popularity of the New Chinese Style, blending traditional elements with contemporary designs, appealing to younger generations seeking both individuality and cultural pride.
Xiaojing Huang explains, “From Hanfu to modern interpretations of Chinese aesthetics, there’s a growing demand for products that reflect cultural heritage in everyday wear.” This shift democratizes cultural expression, resonating with Gen Z’s desire for authenticity and sustainability.
Affordability, quality, and cultural relevance drive consumer preferences towards local brands. Huang emphasizes the appeal of “lower price substitutes” offered by Chinese fast fashion, coupled with agile production cycles that respond swiftly to market trends. This strategy has enabled local brands to outpace international competitors through digital platforms like Douyin and Xiaohongshu, where influencers have significant sway.
Schillirò underscores the importance of digital engagement and community-building in China’s retail landscape. “Influencers and key opinion consumers (KOCs) play a crucial role in shaping consumer perceptions and driving sales,” she notes, highlighting Xiaohongshu’s thriving ecosystem where user-generated content and authentic reviews drive purchasing decisions.
Nick Morris, Managing Director of Canvas8, advises, “Brands navigating China’s fast fashion landscape must embrace cultural sensitivity, transparency, and immersive digital experiences to foster lasting connections with consumers.” Understanding these dynamics is crucial for brands aiming to thrive in this dynamic market.
For more detailed insights, the report ‘Why are Chinese shoppers progressing to homegrown fast fashion?’ is available for download for a limited 2-week period.
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]]>The post Sunway Pyramid Unveils Oasis: A Reimagined Retail Space Set to Revolutionize Shopping Experience by Q4 2024 appeared first on Marketing In Asia.
]]>Oasis, poised to become a cornerstone of elite retail, will host approximately 100 tenants, including esteemed brands such as H&M Home, Art Toys Cafe by MILOLO, and the MUJI Flagship Store & Café. This expansion brings Sunway Pyramid’s total tenant portfolio to an impressive 1,000.
Last year, in a strategic move to elevate asset yield through increased rents per square foot, Sunway Pyramid appointed Jaya Grocer as the anchor tenant for the redeveloped space. Currently located at level B2, the prominent supermarket chain will soon relocate to a larger, permanent space with a brand-new concept at LG2.
Jason Chin, Senior General Manager of Sunway Pyramid, expressed his enthusiasm for the upcoming unveiling, stating, “With the upcoming unveiling of Oasis, we are making a critical advancement in our ongoing mission to elevate Sunway Pyramid’s retail experience. This strategic enhancement not only broadens our tenant mix with leading brands but also positions us to attract higher footfall and drive sustained growth. By reconfiguring this substantial space, we are ensuring that Sunway Pyramid remains at the forefront of Malaysia’s retail landscape, delivering unparalleled value to both our tenants and visitors.”
With a projected net lettable area (NLA) of 2 million square feet, Oasis is set to make a significant contribution to Sunway Pyramid’s overall revenue, underscoring the mall’s evolution as Malaysia’s leading retail destination.
Beyond Oasis, Sunway Pyramid is committed to enhancing the overall customer experience. Since 2022, the mall has pioneered Malaysia’s first Internet-of-Toilet (IoT) system, transforming restroom facilities into a smart system for both customers and supervisors. The latest addition, a modern neo-Egyptian themed smart toilet located on the Ground Floor of the Blue Atrium, will serve as a model for future installations across the mall.
These toilets will also feature a family room catering to parents with children and individuals with disabilities.
Additional enhancements include an all-in-one interactive self-service kiosk with an easy-to-use interface, an enhanced Sunway Malls App with features like Easy Navigation, Deals & Events, and Match N Munch, new escalators connecting the Blue to Orange Atriums from LG2 to F Floors, as well as Electric Vehicle and Hybrid charging stations at CP2 Preferred Parking and B1 Preferred Parking.
Slated for completion by Q2 2025, The Terrace, an annex adjacent to the iconic Lionhead and facing the New Pantai Expressway (NPE), will offer a refreshing, nature-inspired environment and house additional high-yielding tenants.
These developments support Sunway Pyramid’s goal of becoming the premier retail destination in the nation. For more information about Sunway Pyramid’s latest enhancement initiatives, visit www.sunwaypyramid.com or stay tuned to Sunway Pyramid’s social media pages for updates.
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]]>The post India’s Coffee Culture: The New Phenomenon Transforming Beverage Preferences appeared first on Marketing In Asia.
]]>The report, titled ‘What’s fuelling Indians’ newfound obsession with coffee?’, was authored by Anushree Arora and features interviews with Rajdeep Singh Kukreja, the founder of Boojee Cafe, and Idris Bakri, Brand Manager at Iceberg Hospitality. It reveals that the surge in coffee consumption marks a significant shift in consumer behaviour, driving innovation and growth in the country’s food and beverage industry.
Idris Bakri comments, “Coffee represents modernity and variety, appealing to a generation eager to explore new experiences and socialize in vibrant settings.” This cultural pivot has spurred a wave of diversification in coffee offerings, from specialty roasts by brands like Blue Tokai and Subko, to innovative coffee-infused products such as Rage Coffee’s single-use pour-over bags and Sleepy Owl’s cold brews.
Coffee shops like Starbucks, Blue Tokai, and Subko have become popular hangouts for young professionals who want to socialize, work, and experiment with their coffee. Gen Y and Gen Z are particularly drawn to coffee for its modern appeal and variety. Additionally, there is a growing interest in the origins and stories behind different coffee blends. Rajdeep Singh Kukreja notes, “Personalised service combined with expert knowledge keeps customers coming back.”
The allure of coffee as a symbol of affordable luxury has been bolstered by international brands like Starbucks, which have successfully blended Western appeal with local tastes. Despite pricing considerations, Indian consumers have shown a willingness to pay a premium for the Starbucks experience, underscoring its aspirational value.
Driven by a young demographic, with over 52% of the population under the age of 30, India’s coffee market has witnessed substantial growth. It is projected to reach approximately $1.23 billion by 2032. This demographic is not only fuelling demand but also influencing the evolution of coffee as a cultural icon, reflecting India’s economic growth and increasing exposure to global influences.
The influx of international coffee chains like Starbucks, which plans to expand to 1,000 stores by 2028, and Tim Hortons, aiming for 120 outlets by 2026, underscores the robust growth potential of the Indian coffee market. Concurrently, homegrown brands are scaling up operations and diversifying product lines, supported by significant venture capital investments aimed at capturing a burgeoning consumer base.
“In the midst of this transformation, consumers are increasingly prioritizing transparency and ethical practices,” Bakri notes. This shift towards conscientious consumption is driving demand for sustainably sourced coffee and environmentally friendly packaging, exemplified by brands like Rage Coffee and Blue Tokai.
The rise of coffee culture extends beyond cafes to innovative applications in industries like skincare and spirits. Brands like mCaffeine and Greater Than have successfully infused coffee into beauty products and alcoholic beverages, respectively, capitalising on the beverage’s health benefits and cultural cachet.
Nick Morris, UK-based founder and Managing Director of Canvas8, said: “As the coffee landscape continues to evolve, businesses are innovating to cater to diverse consumer preferences and create unique experiences. From artisanal coffee tastings to community-focused spaces, the industry is embracing a holistic approach to engage and nurture a growing coffee-loving community.”
Canvas8 is a global strategic insights practice operating out of London, Los Angeles, New York, and Singapore. Since 2008, we have helped organisations grow through a better understanding of people. Our award-winning insights inspire clients including Google, Mindshare, Molson Coors, The North Face, Mars, Nike, and Logitech. Supported by our network of over 5,500 experts, from TED speakers to MIT fellows, we work at the intersection of behavioural science, culture, business, and creativity to understand human behaviour. For more information, visit: Canvas8.
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]]>The post From Exploitation to Empowerment: The Rise of Fair Trade Fashion by Dinesh Talera appeared first on Marketing In Asia.
]]>Fair trade and ethical fashion emerge as powerful antidotes. They represent a conscious shift in how clothing is approached, prioritizing not just style, but also the human and environmental costs of production. This movement delves deeper, acknowledging the inherent power our wardrobes hold. By buying Fair trade products, consumers help alleviate poverty in lower-income countries, ensuring that workers are paid fairly, work under humane conditions, and have sufficient labor rights. This also encourages more sustainable production methods.
Promoting Sustainability: Ethical fashion champions eco-friendly practices, minimizing the environmental impact of clothing production. This includes reducing water and energy consumption, lessening reliance on harmful chemicals, and promoting the use of sustainable materials. This helps ensure a healthier future for the planet.
Empowering People: When choosing ethically made clothing, consumers directly support dignified working conditions and fair wages for the people who create their garments. This fosters a more just and equitable global system.
Quality over Quantity: Fast fashion often prioritizes low prices over quality. Ethically made garments, on the other hand, are crafted with care and attention to detail, using high-quality, long-lasting materials. This translates to clothes built to endure, reducing clothing waste and ultimately saving money in the long run.
A Statement Through Style: Wardrobe choices become a powerful reflection of values. By embracing fair trade and ethical fashion, consumers send a clear message that they reject exploitation and champion social responsibility. Purchasing power is used to advocate for positive change in the industry.
The Future of Fashion
The rise of fair trade fashion is a positive step towards a more ethical and sustainable fashion industry. By supporting fair trade brands, we can create a demand for change and empower the people who bring our wardrobes to life. So, the next time you’re looking to update your style, consider the impact of your purchase. Choose fair trade fashion and be part of the movement for a more empowered and sustainable future.
While these are strong views of the author, it is also important to note that, due to the extremely complex nature of the industry, no stakeholder has complete control over the entire supply chain.
The post From Exploitation to Empowerment: The Rise of Fair Trade Fashion by Dinesh Talera appeared first on Marketing In Asia.
]]>The post Ensuring Business Continuity: 5 IT Tips for Malaysian Companies appeared first on Marketing In Asia.
]]>Supply chain disruptions and operational downtime can be devastating. A 2023 study by Malaysia Digital Economy Corporation (MDEC) highlighted that Malaysian companies could suffer losses of up to RM 5 million per week due to IT system failures. This makes business continuity planning not just a best practice, but a necessity. “Anyone thinking about business continuity often needs to reassess the issue with regard to their own IT landscape,” says Dr. Christoph Dietzel, Head of Global Products & Research at Internet Exchange operator DE-CIX. Although the most sophisticated measures and plans are no guarantee against outages, they are the only means of maintaining operations and keeping business models productive. So, what do you need to consider in your own cloud backup strategy? Dietzel offers 5 tips:
Today, managed computing, storage, and application resources are central to business continuity. On the one hand, these keep applications productive in the cloud if the worst comes to the worst. On the other hand, they also allow you to quickly outsource complete workloads if systems in your own server room come to a standstill. “Anyone defining their backup strategy should evaluate which data, applications, and workloads are crucial for smooth business operations,” says Dietzel. “It is important to examine the entire IT ecosystem and also identify the extent to which services, information, and infrastructures are interdependent.”
“Whether hot, warm, or cold data, classic backup strategies can usually be combined very easily with cloud solutions, also when it comes to hybrid scenarios and on-premise landscapes,” says Dietzel. Once you are in the cloud, you not only benefit from maximum availability, but also from maximum protection. Providers reduce risks by, for example, operating services redundantly, mirrored at different locations, and in a stable and secure manner.“ In addition, public clouds in particular often offer the latest and quite sophisticated technologies to fend off cyber invaders,” Dietzel adds.
What is also crucial in this context is “building IT landscapes in a redundant and diversified manner,” says Dietzel. “Companies that distribute their back-up workloads across different systems and providers are also protecting themselves.” The same applies to the type of connection. In order to exchange and synchronize information and workloads at all times, it is advisable to redundantly interconnect your own and managed IT.
From malfunctions and downtime to technical problems – to keep machines available and offices productive, it is important to plan the connectivity between the company and the cloud in diversified IT landscapes in an equally diversified way. “Cloud routing services are ideal for processing information and operating applications at any time,” says Dietzel. For example, the DE-CIX Cloud ROUTER allows the exchange of data between different cloud environments, separated from the public Internet. “Software-based routing services ensure interoperability at the network level in order to seamlessly merge in-house and managed infrastructure,” says Dietzel. An advantage with regard to hybrid IT landscapes – and not just in the case of backups.
IT service providers play a vital role in supporting backup strategies. Small and medium-sized enterprises (SMEs) in Malaysia, which form the backbone of the economy, particularly benefit from such support. “It’s crucial to look at the entire ecosystem, from the server room to the cloud and the network connection,” Dietzel emphasizes. DE-CIX’s partner program, which includes managed service providers and IT consultancies, offers comprehensive support with price advantages and incentives for premium partners.
Ensuring business continuity requires more than just data backup. In Malaysia, where the digital economy is rapidly expanding, a holistic approach to IT resilience is essential. Regular testing of measures is also critical to ensure their effectiveness. By following these tips, Malaysian businesses can better prepare for unforeseen disruptions and maintain operational stability in a digital-first world.
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]]>The post Choose Your MariTimeline: Discover Diverse Career Paths in Singapore’s Maritime Industry appeared first on Marketing In Asia.
]]>Choose Your MariTimeline uses an immersive digital experience to tell the career stories of four real-life maritime professionals with different educational backgrounds. It highlights the diverse pathways individuals with or without direct experience can take to enter the industry. The campaign, which includes an industry exposure component, invites jobseekers to build on their domain skills or apply transferable skills to make an impact on Singapore’s maritime sector, which is a key node of world trade and the global supply chain.
“The maritime sector is dynamic and transforming. Therefore, the need to give youths and young adults an up-to-date understanding of the industry is a continuing quest. Building on the first two years of the successful Own Your Future campaign, the latest edition engages young Singaporeans in fresh and authentic ways by featuring real-life professionals whose pathways into maritime are sometimes unexpected and yet rewarding. The campaign illustrates this by spotlighting a global industry open to people of varied skill sets and perspectives, offering diverse roles and career pathways for professionals to thrive. I thank our partners from A.P. Møller – Mærsk, the Maritime and Port Authority of Singapore, Ocean Network Express, and Rio Tinto for working with SMF to share these stories,” said Ms. Tan Beng Tee, Executive Director of the Singapore Maritime Foundation.
SMF’s latest campaign comes as Singapore is transforming and building a future-ready maritime workforce equipped with new skills, spurred on by the twin forces of decarbonisation and digitalisation.
Choose Your MariTimeline centres on an immersive microsite which brings each professional’s key career moments to life as they enter the maritime industry after graduating from diverse disciplines. Participants can select a discipline, and learn how each person’s unique skills, education, and accumulated work experiences create value in sustainability management, green fuel trading, chartering, and network planning roles through bite-sized video stories.
The microsite’s participants will stand a chance to win the “MariTimeline VIP Pass”, an industry exposure experience organised with leading multinational shipping company Ocean Network Express (ONE). Now in its second edition, winners of this year’s MariTimeline VIP Pass can go aboard one of ONE’s vessels to learn about shipping technologies, have lunch with its Chief Executive Officer, and network with senior maritime executives at the company’s global headquarters in Singapore. A “Navigation Guide”, offering job seekers guidance in their maritime job search, will be made available on the microsite at a later stage of the campaign.
Ringo Tan is a business development manager (Green Fuels Origination) originating green fuels at A.P. Møller – Mærsk. Driven by results that are meaningful and tangible, Ringo’s choices have led him to the forefront of the maritime sector’s decarbonisation mission. In his day-to-day life, he is embedded in the shipping and fuel trading ecosystem, working closely with renewable fuel producers, project developers, and colleagues to structure long-term green fuel deals that help ships complete a sustainable voyage.
With a degree in international trading and commodities, Ringo began his professional career as an agricultural commodities trader dealing with sugar. His output-driven nature and business acumen brought him to a role within renewable fuels, where new connections helped him discover the real and tangible nature of the maritime sector’s decarbonisation drive. A turning point came in 2022 when he accepted an opportunity to build A.P. Møller – Mærsk’s green fuels business from scratch. Two years later, he continues to use his trading skills to help shipping clients acquire sustainable fuels, creating an impact that is felt by both maritime and the Earth.
Guided by courage and impact in the maritime sector, Richard is a network planner for Ocean Network Express today. In his role, Richard develops new shipping routes that are cost-efficient, safe, profitable, and sustainable. Drawing on his people skills and his expertise in maritime business, Richard works with a variety of partners and stakeholders to discuss cooperation and partnerships, negotiate deals, and kickstart studies so that every ship and cargo can reach its destination on time and on schedule while achieving eco-friendliness.
Richard has spent a decade as a network planner, but the maritime sector was not always his first port of call. Originally wanting to embark on an aerospace career, circumstances would lead him to hone his business instincts with a maritime business education. Upon graduation, Richard took a leap of faith into applying for a network planning role traditionally for seniors and impressed his hirers with his sharp thinking, drive, and passion. Ten years after getting the network planning role, he continues to use his strong people and analytical skills to identify new trends, needs, and opportunities to connect the maritime world.
Roshni Selvam is a sustainability manager at the Maritime and Port Authority of Singapore (MPA), where she shapes MPA’s sustainability efforts across the local and international domains to contribute towards net-zero emissions by 2050. By looking at the maritime sector’s decarbonisation journey at large, Roshni sets the direction, inspires action, and influences others to achieve impactful outcomes. Her chemical engineering education offers her a deep understanding of fuels, allowing her to combine technical knowledge with soft skills to connect with technical partners and introduce sustainable change in the maritime space.
After graduating with a chemical engineering degree in 2020, Roshni began her career at an engineering consultancy working on fuelling activities like liquefied natural gas processing and bunkering. Inspired by the role that fuels could play in decarbonisation, she embarked on a master’s degree in environmental engineering, which opened her eyes to the role of sustainability in the maritime sector. She then took a role in sustainable policy at MPA after graduating with her master’s degree. Today, Roshni uses her engineering knowledge to work with a variety of people to drive industry policies that chart maritime’s green future.
Jacqueline Lam’s role as charterer has been 12 years in the making. Just like how she moves commodities around the world today, Jacquline has moved across many technical and commercial roles across the maritime sector with her goal to become a charterer. Today, Jacqueline’s extensive shipping operations, sales, and cargo experience have helped her secure the best shipping deals for her clients. The rich lessons and skills picked up along the way also help her to better understand clients and ship owners as she stays up to date with shipping schedules, networks, and opportunities.
Jacqueline had always wanted to become a charterer, but she took an unconventional path. After selling ship hold cleaning services in her first job, she inched closer towards the chartering space with roles at a local bunkering company, a commodities firm, and later working in shipping operations. Her turning point came at Rio Tinto when her strong understanding of the maritime world and attention to detail helped her secure a transfer into a chartering role. Jacqueline took 12 years to achieve her chartering career goal, but the industry’s interconnectedness means that her story has only just begun.
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]]>The post Top 10 Business-Related Movies for Aspiring Entrepreneurs appeared first on Marketing In Asia.
]]>Directed by John Lee Hancock, Rated PG-13
“The Founder” narrates the development of McDonald’s from one food point to the worldwide chain, focusing on the strategic war between Ray Kroc and McDonald’s brothers. The story tells about the sequence of cutthroat business moves and ethical predicaments, which Kroc should consider as he starts franchising the brand. The film provides strongly relevant teaching points regarding the ethics of growing a business, innovation, and strategic adaptability. Kroc’s portrayal is a very compelling narrative about the possible costs of ambition, where the McDonald brothers’ portrayal of cautiousness contrasts against it.
Directed by David Fincher, Rated PG-13
“The Social Network” delves further into the genesis of Facebook and posits from the perspective of execution rather than mere ideas. It exposes the interpersonal battles and lawsuit battles that come along the way as the company grows. It shows the importance of visionary ideas with robust execution in the tech industry. This movie goes in every minute detail about the event, so naturally, the film becomes a must-watch for every aspirant and flourishing entrepreneur in tech. Sharp dialogues and complex character dynamics all serve to further enrich the narrative, offering even more insights about how personal relationships affect the business operations and clear communication in partnerships.
Directed by Robert Aldrich, Not Rated
While primarily a military drama, “The Dirty Dozen” offers profound insights into leadership and team management under extreme pressures. Entrepreneurs can draw lessons on the importance of assembling a diverse team, recognizing individual strengths, and the strategic flexibility needed to lead a team towards achieving complex goals. The film’s setting in a high-stakes wartime scenario underscores the criticality of making quick decisions and the value of unconventional strategies, making it a unique study in adapting leadership styles to suit challenging environments.
Directed by Ron Howard, Rated PG-13
“Apollo 13” is a compelling portrayal of effective teamwork and crisis management during the ill-fated Apollo 13 lunar mission. This film highlights the critical importance of problem-solving, team collaboration, and leadership under life-threatening circumstances, offering invaluable lessons for managing business crises. The intense focus on technical details and procedural accuracy provides an additional layer of realism, illustrating the importance of expertise and meticulous planning in overcoming unexpected challenges.
Directed by Brad Bird, Rated G
The movie “Ratatouille” not only emerges as a charming exercise in animation but also makes a very serious essay on innovation and how workplace challenges are overcome. This goes on to show that anyone can really have great ideas and even the most surprising ones really come from people from the most surprising places if they are only given a chance. This is, therefore, a recommended movie for business entrepreneurs who would want to instil new talents and creativity in their ventures. A synopsis of the Ratatouille film can be shown to tell the story of Remy, who is a rat dreaming to become a chef in Paris. The movie shows the audience how to follow the desires of their heart against all odds and reveals to them what power lies in embracing diversity and being innovative in your business.
Directed by Martin Scorsese, Rated R
The movie provides an unvarnished look at the career of stockbroker Jordan Belfort and his rise to power fueled by greed and corruption. “The Wolf of Wall Street” is a warning tale of how dangerous it is for one to have a lapse in ethic and commit long-term fraud against people, all in the name of doing business. This fascinating seduction of excess and ruin, it’s an obnoxiously impudent morality tale about how to make decisions in order to sustain business, told with a lot of energy and a sense of fun.
Directed by Aaron Sorkin, Rated R
“Molly’s Game” is about Molly Bloom’s journey from Olympic-class skier to running an exclusive high-stakes poker game. This film highlights the importance of strategic thinking, maintaining ethical boundaries, and the personal costs of running a business within legal gray areas. Molly’s ability to navigate complex legal and ethical landscapes while building a profitable venture offers crucial lessons in resilience and strategic planning. Her story is a compelling exploration of the dynamics of power, gender, and entrepreneurship in a high-stakes environment.
8. Joy (2015) – “Product Development and Market Strategy”
Directed by David O. Russell, Rated PG-13
“Joy” represents an inspiring story of one Joy Mangano, the woman who needed to fight much in both her personal and professional life on her way to commercial success for her invention, the Miracle Mop. This video is particularly helpful to entrepreneurs, since they get advice in regard to product development and patenting, manufacturing, but most importantly, the aspect of personal resilience when life gives out its lemons. Joy’s journey from concept to market success is a road with potholes and fresh pavement, an honest look at what it really takes to move an innovative product into a brutally competitive market.
Directed by Bennett Miller, Rated PG-13
“Moneyball” personifies how data analytics can disrupt conventional practices of any given field, in this case, baseball scouting. The movie shows how innovative strategies, based on data, may make the business achieve more with fewer resources, so it is highly recommended for young entrepreneurs who are interested in learning how to take advantage of modern data-based decision-making. The story of Billy Beane’s analytical approach to assembling a baseball team with a small budget is a good example of how big data can be transformational to industries, departing from common trends.
Directed by Adam McKay, Rated R
“The Big Short” looks at the rise in the financial crisis of 2008 and emphasizes corruption and greed as the cause of igniting collapse in the housing market. The movie clearly brings out market inefficiencies and an ideal ethical investment practice. However, the most complex financial concepts that entrepreneurs need to understand in order to really comprehend and hence be successful in their businesses, reflect ethical transparency and ethics for remaining successful in business, thanks to the fourth wall being broken and other innovative story-telling techniques that make such comprehension possible.
These ten movies are not only a hoot to watch but contained so many lessons within them about the difficulty of running a business. They cut across some of the themes that entrepreneurs often grapple with, from ethical dilemmas to dealing with crises or the need for strategic innovation and market disruption. This book will make a wonderful addition to your library, as every story conveys particular insights and becomes a must-use guide for everybody who wants to go further in detail into the dynamics of doing business and leading.
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]]>The post Deliveroo Drives Uptick in Partners’ Repeated Orders Through Brand Loyalty appeared first on Marketing In Asia.
]]>Specifically, these findings revealed that on a quarterly basis, every 1 in 4 orders placed with partners are from customers who have ordered from the same restaurant at least 2-3 times. Additionally, 10% of orders represent customers who have ordered 4-5 times, while 5% consist of customers who have ordered 10 times or more.
Interestingly, insights showed that top partners on Deliveroo who maximised the features and benefits of being on the platform, including ensuring customers have access to sufficient options to modify menu items in line with what customers could do over the counter. These partners also actively participated in marketing campaigns and offers through Deliveroo’s Marketer platform. This is further enabled by Deliveroo’s strength of a dedicated workforce working closely with partners to develop and advise on strategic plans to drive brand loyalty and repeated orders.
Popular Mexican fast food outlet Guzman Y Gomez achieved nearly 50% repeated orders out of their total, with the Burrito Bowl with Grilled Chicken proving to be a favourite among Guzman Y Gomez fans, emerging as the dish most repeatedly and frequently ordered by customers.
The Daily Cut recorded 60% repeated orders, with their National Day Bowl particularly well-received, seeing the highest number of repeated orders across the year. Subway also saw strong figures, with close to 80% of their orders being repeated orders.
Food delivery tools serve as marketing platforms exposing businesses to a wide audience while providing key insights to capitalise on key trends and optimise offerings. Since joining the platform in 2017, Guzman Y Gomez for instance, has tapped on Deliveroo’s support to enhance their business offerings, including Regular Marketer Offers to entice customer purchase and advertisements to boost brand visibility, which has contributed to an increase in repeated orders for the brand.
Josh Bell, General Manager of Guzman Y Gomez Singapore, says, “Our enduring partnership with Deliveroo has not only elevated our brand’s visibility but also fostered deeper connections with our loyal customer base. Utilising the digital delivery platform, we’ve effectively utilised valuable data insights to implement strategic in-app promotions, significantly bolstering our ability to cultivate enduring relationships with our customer base.”
The lunchtime period emerged as critical for partners, with almost 2 in 5 orders being repeated. This trend emphasises the importance of restaurants tailoring their offerings to ensure continued relevance and satisfaction, and matching the specific preferences of the lunch crowd.
Geographically, Mediapolis (45%), Raffles Place/Tanjong Pagar (34%), and Katong (29%) emerged as the top three key areas with the highest concentration of brand loyal customers. Brands in the Raffles Place and Tanjong Pagar areas that reflected the most repeated orders are The Daily Cut, Guzman Y Gomez and Vios by Blu Kouzina, making up a significant proportion of the total highest number of repeated orders across Singapore. This demonstrates the value of concentrating their restaurant marketing and expansion endeavours in these regions, catering effectively to the needs of their loyal customer base, especially targeting the lunch time crowd.
Not limited to market share, smaller scale F&B businesses such as Green Monster, Vios by Blu Kouzina and Two Men Bagel House were also found to have observed a significant amount of repeated orders across the year.
In line with Deliveroo’s recent consumer survey which identified a sharp increase in non-food items (with 53% preferring to get non-food supplies on the app), on-demand grocery partners such as Little Farms also received a spike in repeated orders, with 88% repeated orders across the year. In terms of top grocery items ordered, Wine Connection swept the top of the charts, with orders for its wines emerging as most frequently ordered items.
Commenting on the findings, Deliveroo Singapore General Manager, Jason Parke, said, “The insights gleaned from our data analysis provide invaluable guidance for partners looking to thrive in the competitive food delivery landscape. By understanding and adapting to consumer preferences, partners can cultivate strong brand loyalty and unlock new opportunities for growth. Deliveroo is dedicated to supporting partners every step of the way, enabling them to succeed in a continuously evolving market.”
With Deliveroo Plus, customers stand to benefit from unlimited free delivery on all orders, upsized discounts, two 20% off Gojek ride vouchers every month, and an on-time guarantee which provides users with a $5 credit on their next order should their order be delayed (terms and conditions apply). In the month of April, Deliveroo is running up to 50% off deals across many well-loved brands, with Deliveroo Plus users enjoying upsized discounts with an additional 10% off. One partner that utilised Deliveroo Plus to their advantage was The Daily Cut. In February this year, The Daily Cut ran 40% off on pick-up orders, with Deliveroo Plus customers receiving an even larger 50% off.
Jonathan Yang, CEO of Teyst Group, representing The Daily Cut, says, “From promoting our brand’s deals and offerings to seamless delivery experiences, our partnership with Deliveroo has been vital to cultivating a loyal customer base that continues to return for our nutritious offerings.”
Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. Deliveroo works with approximately 180,000 best-loved restaurant, grocery and retail partners, as well as over 140,000 riders to provide the best food delivery experience in the world. Deliveroo is headquartered in London, with offices around the globe. Deliveroo operates across 10 markets, including Belgium, France, Hong Kong, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab Emirates and the United Kingdom.
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]]>The post Top Plus Size Models Reshape India’s Fashion appeared first on Marketing In Asia.
]]>Indian fashion is getting a much-needed dose of reality thanks to a group of bold plus size models who are redefining what it means to be successful and gorgeous in this industry. We’re talking about women like Shreya, Sakshi Sindwani, Neha Parulkar, Tanvi Geetha Ravishankar, and Varshita Thatavarthi. These ladies aren’t just rocking the runway; they’re also using their platforms to spread the message of body positivity and inclusivity.
Shreeya Khade, for example, isn’t just a model – she’s also got an engineering and marketing background! She brings a fresh perspective to the fashion world and knows the importance of seeing all kinds of bodies represented in stores. That’s why she teamed up with Style Crackers to make sure their clothes look fabulous on everyone.
Sakshi Sindwani is a social media queen who uses her online presence to challenge the idea of what “beautiful” looks like. She’s worked with big-name designers like Manish Malhotra and Tarun Tahiliani, and her photos have been featured in top magazines like Harper’s Bazaar.
Neha Parulkar is another strong voice for body positivity. She works with different fashion brands and gets featured in the media a lot, constantly pushing the conversation about inclusivity in Indian fashion forward.
Tanvi Geetha Ravishankar (@thechubbytwirler) and Varshita Thatavarthi’s journeys are proof that things are really changing. Tanvi was part of the very first plus size runway show at Lakme Fashion Week, a huge step towards a more diverse fashion scene. And Varshita’s collaboration with Sabyasachi, a top Indian designer, is another major milestone.
The conversation about body positivity isn’t just about women anymore. Plus size male models are becoming more and more prominent in India, which is fantastic news! This shows that the fashion industry is finally understanding that inclusivity means representing everyone, not just women who fit a certain mold.
Aru Verma, an actor and model, is leading the charge for plus size men. He models for clothing brands and proves that you don’t need to be super skinny to be successful and stylish in the fashion world.
Rahul Nair, who runs a modeling agency, says the market for plus size male models in India is growing fast. There are still some challenges in terms of people’s attitudes, but things are definitely moving in the right direction. More and more brands are using plus size male models in their print campaigns, especially for both traditional Indian wear and Western clothing. This is a great sign that the fashion industry is becoming more inclusive and reflecting the reality of its customers.
The movement towards body positivity and inclusivity isn’t just about being nice – it’s also good for business! All over the world, there’s a huge demand for plus size fashion. In the US, for example, more than 60% of women wear a size bigger than 14. That’s a massive market that fashion brands are finally starting to pay attention to. Experts predict that the plus size clothing market will be worth around US$ 501.35 billion by 2033, which shows just how profitable it can be to cater to different body types.
A study done in the UK in 2021 found that 90% of people felt like fashion ads and models didn’t represent real bodies or people from different backgrounds. This is definitely true in India too. For a long time, there just weren’t any clothes or models for plus size people, even though they make up a big part of the customer base.
India’s first plus size clothing brand, aLL, made a splash with their “The Big Bold Fashion” show. They featured models of all shapes and sizes, and even had Ashutosh Sharma, one of India’s first plus size models with hearing and speech impairments, walk the runway. This was a major moment for inclusivity in Indian fashion.
The rise of plus size models in India is a sign of a deeper shift in how we view beauty and fashion. It’s not a fad; it’s a fundamental change towards a more diverse and accepting industry. These powerful models aren’t just changing what we see on runways – they’re changing the core values of fashion itself. By breaking down barriers and working with major brands, they’re redefining what it means to be beautiful and successful in the fashion world.
This movement, fueled by personal stories and undeniable market trends, is a turning point not just for India but for fashion globally. As the industry progresses, plus size models are paving the way for a future that celebrates all kinds of bodies, not just the stereotypical ones. It’s a future where beauty comes in all shapes and sizes, and fashion reflects the vibrant diversity of the world we live in.
The growing presence of plus size male models further emphasizes the industry’s commitment to inclusivity. These men are challenging narrow beauty standards and showcasing a wider range of body types. They’re helping to create a more confident and stylish image for men of all sizes, and their success is a win for everyone.
This era of transformation for both male and female plus size models signifies a pivotal moment in fashion history. Inclusivity is no longer a trend – it’s becoming the norm. As this movement gains momentum, we can look forward to a future where fashion celebrates diversity in every form, creating a more realistic and representative industry for everyone. It’s not just about what we wear; it’s about a broader cultural shift towards embracing and valuing beauty in all its forms.
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]]>The post New Report: The Rising Threat of Search Engine Ad Abuse appeared first on Marketing In Asia.
]]>Sumit Bansal, VP, Asia Pacific & Japan, BlueVoyant said, “The use of malicious search engine ads is on the rise and poses a significant threat to internet users and companies worldwide. Instead of a link from an ad leading you to your bank’s login page, it can instead lead to a phishing website or malware download — risking personal, financial, and corporate information.”
Search engines like Google, Bing, and Yahoo, with their easy-to-use interfaces and vast user bases, allow users to easily and efficiently find things online. Given their wide acceptance, it was only a matter of time before they became a target for cyber criminals.
Most search engines allow advertisers to promote their websites by displaying paid ads in the user’s search results. Using simple, self-service, and readily available advertising tools, advertisers can pinpoint and reach their unique target audience based on multiple criteria, making their ads more effective and profitable.
Most ads appear at the top of the search results, above the organic results, and are annotated as an advertisement. Typically, search engine advertisements consist of a title, description, and a link to the advertised website.
Search engines have long been trusted, so users have historically had little reason to doubt the ads they see.
These fraudulent search engine ads are designed to appear benign, therefore making them an effective phishing distribution mechanism. When an unsuspecting user types into the search engine their financial institution’s name and “login,” or something similar, the ad they see may lead them to a fake login. These fake websites can be used to steal their login credentials, which could be reused for other accounts, including corporate ones, or to download malware.
Bansal explained, “We have observed that when setting up a malicious ad campaign, threat actors utilise the various customisation options available for advertisers. The settings allow them to display the ads only to specific users who meet predefined criteria, targeting the most vulnerable and profitable victim profiles while helping to evade detection.”
“To further avoid detection, threat actors employ unique session cookies for users redirected to the site from the ad. This makes it difficult for bots or security vendors to detect the phishing content. In addition, the phishing ads often link to lookalike domains of the impersonated brand, adding another layer of deception.”
“To execute these malicious ad campaigns, threat actors typically acquire compromised ad accounts from deep and dark web communities. They then craft tailor-made ad campaigns, register phishing websites, and implement additional evasion mechanisms before launching the ad campaign.”
“We recommend that enterprises, especially financial institutions, monitor for suspicious search engine ads possibly impersonating the company’s brand, using various search keywords, user agents, and geolocations, in multiple search engines.”
Organisations are urged to also report all fraudulent websites and associated ads. Enterprises should also raise awareness about the dangers of search engine ads among clients and employees and advise them to bookmark legitimate websites. Organisations should consider working with a Digital Risk Protection vendor with ad detection and analysis capabilities to proactively detect and take down malicious search engine ads and their related phishing websites.
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]]>The post Altering Brand Presence: Considering Alternative Social Media Platforms Beyond Instagram appeared first on Marketing In Asia.
]]>To effectively utilise these platforms, brands must understand the nuances of user behaviour and preferences. Tailoring campaigns to suit each platform’s unique characteristics can enhance audience engagement and improve content strategy.
Numerous brands have successfully leveraged alternative platforms for marketing endeavours. For instance, Cash App collaborated with Twitch to promote a major event, while Ted Talks utilised Telegram to advertise its YouTube channel. Moreover, leading brands like Adidas used Snapchat to boost sales with Snapchat’s innovative features.
Transitioning to alternative social media platforms presents challenges such as adapting to new rules and formats, understanding user behaviour, and navigating unfamiliar territory. However, overcoming these challenges can unlock numerous opportunities for brands to stay competitive and innovative in a dynamic market landscape.
Experimentation is key to success in digital marketing. Brands must continually learn and adapt, experimenting with new strategies to achieve desired outcomes. Clear and authentic communication is paramount, enabling brands to establish genuine connections with their audience and enhance visibility.
The evolution of social media necessitates that brands expand their reach beyond traditional platforms like Instagram. By embracing alternative platforms such as Telegram, Twitch, Clubhouse, and LinkedIn, brands can tap into new markets, engage with diverse audiences, and stay ahead in the ever-evolving world of digital marketing.
Mohan Gohade is a distinguished Digital Marketing Head with over a decade of experience and success in managing 900+ national and international marketing campaigns. His expertise spans SEM, SMM, and Programmatic Buying, backed by an MBA in Marketing/Advertising and a Six Sigma Green Belt certification. Adept in Google Ads, Analytics, and marketplace advertising, Gohade excels in team leadership and client relations, driving impactful results across the digital spectrum. LinkedIn.
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]]>The post Augmenting Martech and Adtech in Asia Pacific: Five Forecasts for 2024 appeared first on Marketing In Asia.
]]>With 2023 drawing to a close, the leaps in martech and adtech – not least, in artificial intelligence (AI) – give professionals in the field food for thought. While the prospect of expanding reach and growing customer base is inviting, businesses must grapple with the proliferation of online platforms, larger and more varied data sources, as well as multichannel customer interactions. But one thing is clear; as the martech landscape shifts, content strategy must be adaptable – and these five trends will shape the martech and adtech verticals in the coming year.
The days of generic campaigns have long been resigned to the dustbin of history. In fact, a McKinsey survey found that 78% of respondents were more likely to repurchase from a brand that delivered personalised content.
And with Google set to gradually disable cookies starting in 2024, harnessing the power of first-party data to truly understand customers is a no-brainer. This can be further augmented with AI – which will further boost customer loyalty.
At the same time, businesses in the Asia Pacific need to remember that committing to strategically putting the customer first must be supplemented with adequately formalised and efficient measurements to gauge performance over time.
The past 12 months saw AI free itself from the confines of labs and hit the mainstream – with call centres and chatbots among the first use cases to emerge. And 2024 will only see AI expanding into more areas, with headway in the technology’s language and sentiment capabilities set to increase customer satisfaction.
Also keep an eye out for chatbots gathering user preferences – a.k.a zero-party data – to make recommendations, crossing the divide from service support to conversational marketing applications. The second wave of AI usage will see the technology cement its mainstream credentials, with techniques encompassing personalised shopping experiences on websites and embedded AI on platforms such as mobile phones and wearable devices.
However, AI will also be experienced differently across the region. The Asia Pacific is highly diverse, and while poised for growth, maturity varies widely. The likes of Singapore and China are by all accounts leading the pack, but this could also be a source of strength as the region explores and experiments.
The remarkable feats of generative AI and its subsequent widespread adoption have been quite revolutionary. This explains why it took just two months for OpenAI’s ChatGPT to gain 100 million users.
Expect this momentum to carry over into 2024, with marketers on the brink of experiencing real and tangible benefits from this technology, particularly in terms of productivity and creativity enhancement. In no small part, this is because the incoming wave of AI-powered assistants is poised to automate repetitive marketing tasks, facilitate data analysis and utilisation, and streamline campaign and customer journey management.
With professionals and experts given unprecedented freedom to focus on tasks that truly matter, we’re on the cusp of a new era of efficiency and creativity.
Many organisations are in need of a re-consideration of their data governance, security, and privacy practices. Fuelling this is data deprecation and the new emphasis on zero- and first-party sources, as well as second-party sources such as data clean rooms, networks, and exchanges. Here’s where the wheat separates from the chaff, because some brands have instituted comprehensive data compliance practices, while others lag behind.
It’s critical to remember the double-edged quality of emerging technology like AI – and there is considerable regulatory zeal. Malaysia, for one, is developing an AI code of ethics and governance, which is slated to be ready next year. Over in Singapore, authorities have launched AI Verify to tether AI testing to 11 internationally recognised principles. This will seriously test organisational data governance practices. Responsible marketing, particularly vis-a-vis data, will be a major factor for brands in 2024. Avoiding the speed bumps to innovation will hinge on using customer and marketing data responsibly, which will hopefully impel brands to take a strong, fresh look at their data processes.
53% of marketing respondents told Gartner they are too overwhelmed by existing technologies to explore emerging ones. Meanwhile, CMO Council found that integration – between systems and data – as well as technical agility dominated the top concerns in a recent report. Clearly, tech aggregation and complexity are keeping CMOs up at night.
Now is absolutely the time to take charge and overcome the inability to bring together point solutions into a martech platform solution. What is needed is a pivot towards a multi-channel marketing solution. Ideally, this will be architected atop a cloud-based data store with direct access to data from within its own user interface (UI) and has native capabilities to deliver marketing communications. At the same time, this solution should also offer Out-of-Band (OOB) capabilities that orchestrate journeys to a myriad of other vendors for delivery, and can accommodate third-party decisioning engines for real-time analytically driven decisions and model scoring. While tech stack aggregation may not reduce the number of players in the martech landscape, it will be a much needed boon for technical agility, returns on investments, and, crucially, help CMO’s increase utilisation of existing applications.
The coming 12 months is shaping up to be a year of exciting trends and advancements that will reshape how businesses engage with audiences. And in the competitive landscape of today, cohesion is key – which is why thriving in 2024 will rest on aligning martech with overall company strategy. The onus will be on marketers to clarify objectives, assess current capabilities, and plug gaps while striving to break new ground. Ultimately, it is this which will propel understanding of and empathy for customers.
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]]>The post Wellness and Beauty Integration: Analyzing the Convergence of Wellness and Beauty Products in Marketing appeared first on Marketing In Asia.
]]>Holistic Approach: Modern consumers gravitate towards products that address both external and internal well-being, known as a holistic approach. Brands are strategically positioning their marketing efforts to highlight the synergistic connection between physical appearance and overall well-being. This involves highlighting ingredients with health-enhancing properties and positioning their products as essential components of a comprehensive self-care regimen. By aligning with the consumer’s desire for holistic well-being, brands establish themselves as more than just beauty enhancers, but as partners in the pursuit of a balanced lifestyle.
Functional Beauty: The growing demand for beauty products that provide functional benefits demonstrates a shift in consumer expectations. Consumers are increasingly looking for products enriched with vitamins, antioxidants, and adaptogens that benefit their overall health and vitality, rather than just their appearance. Marketing strategies are evolving to highlight the functionality of beauty products, positioning them as critical components of a larger self-care narrative. This shift reflects a fundamental shift in the way beauty is perceived – it is no longer merely a cosmetic enhancement, but an essential component of an improved way of life.
Increasing Demand for Natural and Sustainable Products: The growing demand for natural and sustainable products is a major factor driving the convergence of wellness and beauty. In response, marketing strategies highlight the use of clean, non-toxic ingredients that not only improve beauty but also subscribe to health and sustainability principles. Brands are appealing to environmentally conscious customers by implementing eco-friendly practices and communicating transparently about ingredient sourcing. This emphasis on natural and sustainable elements benefits not only the environment but also strengthens the consumer-brand relationship.
Personalization and Customization: Advancements in technology and data analytics make it possible for brands to provide personalised solutions based on individual needs and preferences. Customization is more than a marketing buzzword; it is an essential component of wellness and beauty integration. By utilising consumer data, brands can create personalised experiences that address specific skin concerns, dietary preferences, and lifestyle choices. This data-driven personalization not only improves product effectiveness but also fosters a stronger relationship between the brand and the consumer, that leads to loyalty in a competitive market.
Influencer and Social Media Marketing: In the digital age, influencers have a significant influence on consumer perception. Social media platforms have evolved into virtual marketplaces where brands authentically engage with customers. Influencers not only demonstrate the efficacy of beauty products, but they additionally function as educators. Marketing strategies leverage influencers to share educational content, build communities around wellness and beauty, and engage in honest conversations with customers. This human-centric approach makes brands more relatable and trustworthy, bridging the gap between product and consumer.
Focus on Mental Health and Emotional Well-Being: Brands are incorporating mental well-being into their marketing strategies, acknowledging the profound correlation between mental health and physical appearance. Products are marketed as self-care and stress-relief tools that promote relaxation, mindfulness, and emotional health. Marketing narratives emphasise products’ transformative power not only on the skin but also on the mental and emotional state. Brands connect with consumers looking for a holistic approach to well-being by positioning beauty routines as therapeutic rituals that contribute to a happy and fulfilled life.
Omnichannel Presence: Creating immersive brand experiences necessitates an omnichannel strategy that seamlessly integrates various touch points. Successful marketing strategies employ multiple channels, such as social media, e-commerce platforms, physical stores, and wellness retreats. This multifaceted presence ensures that consumers have consistent encounters with the brand that result in a cohesive and memorable brand experience. Whether scrolling through social media, exploring products online, or engaging in a wellness retreat, consumers are immersed in the brand’s narrative, reinforcing brand loyalty.
Lifestyle Branding: Beauty brands are shifting from product-centric to lifestyle-focused branding. Marketing efforts have expanded beyond traditional beauty tips to include comprehensive wellness guides, meditation sessions, and motivation for a healthy lifestyle. By offering a seamless and comprehensive brand experience, these brands position themselves as holistic lifestyle partners, inspiring consumers to embrace the products and also an entire ethos of well-being.
To summaries, the convergence of wellness and beauty in marketing strategies is more than a passing trend. It indicates a societal shift toward a more holistic approach to self-care, in which beauty is more than just skin-deep but also a radiant reflection of overall well-being. As brands continue to innovate and align their narratives with consumer values, the distinction between beauty and wellness will blur, thereby ushering in an era in which the pursuit of beauty is synonymous with the pursuit of a healthier, more fulfilling lifestyle. The future of beauty is a radiant amalgamation of external charm and internal vitality, where wellness and beauty integrate seamlessly to benefit the style-conscious consumer.
Himanshu Sharma, a Master’s holder in Organic Chemistry and co-founder of Orgatre, has revolutionized the personal care industry. Leading with innovation, Orgatre shines under his guidance, celebrated for its exceptional products and customer focus. A visionary, Sharma adeptly navigates market shifts, securing his status as a respected thought leader. His active engagement in industry events underscores his influential role in shaping the future of personal care and fragrances.
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]]>The post TikTok Unveils 2024 Trend Forecast: Embracing Creative Bravery for Marketing Success appeared first on Marketing In Asia.
]]>2023 witnessed an explosion of creativity on TikTok, with users and brands alike embracing life hacks, nostalgic music, and the flourishing of small businesses. The platform’s vibrant community continued to celebrate authenticity, creating a rich tapestry of content that resonated with an audience eager for new perspectives and stories.
As we step into 2024, TikTok introduces the concept of Creative Bravery – a dynamic blend of curiosity, imagination, vulnerability, and courage. This mindset is not just a fleeting trend but a fundamental shift in how brands approach content creation and community engagement on TikTok. Brands that embody Creative Bravery, integrating it into their daily strategies, are poised to forge deeper connections and achieve unprecedented success.
Shant Oknayan, Head of Global Business Solutions for Asia-Pacific, Middle East, Africa & Central Asia, reflects on the platform’s journey, stating, “2023 has seen an audience of over 1 billion people regularly coming to TikTok to find community, surprise and delight. In an era where storytelling has become predictable, TikTok showcases creativity without a typical beginning, middle or end.”
“In 2024 we’re going to see the TikTok community build on this in ways we’ve never seen before. Fueled by a blend of curiosity, imagination, vulnerability and courage – creative bravery will be infused into our daily lives.”
The What’s Next Report identifies three critical Trend Signals that brands can leverage to align with the evolving preferences of the TikTok community:
TikTok has redefined the discovery process, with users 1.8 times more likely to explore new topics they previously knew nothing about. Brands like Clinique have harnessed this curiosity, achieving remarkable engagement and conversion rates through creative campaigns.
The platform has unleashed a new era of storytelling, where traditional narratives are turned on their head, and communities co-create content that spans multiple realities. This approach has enabled brands such as IGG to captivate audiences with innovative narratives and interactive experiences.
In a world where consumer trust is hard to earn, TikTok offers brands a unique opportunity to establish genuine connections and demonstrate their values. Successful campaigns, like that of Indonesian childcare brand MAKUKU, illustrate the power of community engagement in driving brand loyalty and sales.
The What’s Next Report is underpinned by comprehensive research conducted by the Global TikTok Marketing Science team. This data-driven methodology ensures that the trends identified are not only relevant but also actionable for brands looking to make a significant impact in 2024 and beyond.
As TikTok continues to shape the digital landscape, the What’s Next Report 2024 serves as an essential guide for marketers aiming to navigate this dynamic environment. By embracing Creative Bravery, brands have the opportunity to redefine their relationship with consumers, creating content that is not just seen but felt, remembered, and acted upon.
For a deeper understanding of these transformative trends, the full report offers invaluable insights into the future of marketing on TikTok
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]]>The post GrabAds Unveils Consumer Trends for Lunar New Year 2024 in Southeast Asia appeared first on Marketing In Asia.
]]>A striking aspect of the report is the early commencement of festive preparations. A considerable number of consumers in these regions start their shopping spree well before the Lunar New Year. For instance, in Singapore, a significant 69% of users are stocking up on food and beverage items two weeks in advance. This trend is mirrored in Malaysia, Vietnam, and Thailand, though with varying percentages, indicating a region-wide trend of proactive festive shopping.
As the Lunar New Year hustle sets in, a clear preference for convenience surfaces. The report shows a substantial inclination towards on-demand services for fulfilling festive needs. In countries like Singapore and Malaysia, over 80% of users are turning to these services for food orders, with Thailand not far behind. This trend extends to grocery shopping, with Thailand leading the charge, showcasing the growing importance of immediacy in festive preparations.
Interestingly, the report reveals a strong preference for a mix of online and offline shopping experiences across these countries. A notable portion of consumers in Singapore, Malaysia, Vietnam, and Thailand express their preference for this hybrid shopping model. This insight is particularly valuable for brands aiming to strike the right balance in their omnichannel strategies.
Each country displays its unique festive shopping trends. From Yusheng in Singapore to Tet gifts in Vietnam, the diversity in preferences is striking. The report also notes an increase in the average order value of specific items like alcohol in the weeks leading up to the Lunar New Year, offering a glimpse into the festive mood of the region.
The report also sheds light on the popularity of seafood, with prawns in Malaysia and salmon and prawns in Vietnam being particularly sought after. This trend is marked by a steady increase in average order values on GrabMart, indicating a ripe opportunity for targeted seafood promotions.
The ‘Chief Family Officers’ emerge as a key demographic in the report, known for their willingness to spend more on family needs. This group shows higher monthly spends and delivery frequencies in countries like Vietnam and Malaysia. Additionally, the spending patterns of Gen-Zs and Millennials vary across countries, highlighting the need for demographic-specific marketing strategies.
This comprehensive analysis by GrabAds is a treasure trove of insights for brands looking to capitalize on the Lunar New Year shopping season. Understanding these nuanced market-specific trends and consumer preferences is key to crafting advertising strategies that resonate with the target audience.
The Lunar New Year 2024 is poised to see a diverse array of consumer behaviors across Southeast Asia. Armed with these insights from GrabAds, brands can fine-tune their marketing efforts to effectively engage with consumers and make the most of the festive season.
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]]>The post APAC’s Consumer Landscape Transformed: Insights from TikTok’s Latest Report appeared first on Marketing In Asia.
]]>A striking revelation from the study is the notable shift in consumer behavior across the Asia Pacific. An overwhelming 79% of consumers in this region now find themselves more swayed by non-promotional content than by traditional promotions during their purchase decisions. This trend shows considerable variation across the region, with a mere 12% in South Korea and Thailand being influenced by promotions, in stark contrast to 41% in Indonesia. It’s evident that factors such as product benefits, reviews, demonstrations, and visuals are gaining precedence over simple price considerations.
The study identifies two predominant consumer categories within APAC: those who are social-oriented and those who are product-oriented. In nations like Vietnam, Thailand, and Korea, consumers tend to be more social-oriented. They depend largely on content recommendations from creators and trust their gut feeling in making purchases. In contrast, Japanese and Indonesian consumers show a more product-oriented approach, prioritizing product information and benefits, and showing a higher responsiveness to discounts.
Arthur Altounian, VP of Client Strategy & Growth for APAC at GroupM (The Goat Agency), sheds light on the significance of these findings. “In this era of content and evolving consumer behaviours, it’s imperative for brands to facilitate intuitive decision-making and establish rapport with their audiences by striking the right balance between long-term relationship building and short-term promotions,” he remarks. Altounian underscores the importance for brands to stay consumer-centric, focusing on creating engaging content and sales strategies that highlight product benefits and deliver true value.
The report further highlights a growing preference among APAC consumers for content-driven video platforms like TikTok, which are fostering content-triggered shopping and intent-driven buying. These platforms are increasingly outperforming traditional search engines, with 1.9x more consumers regularly using them for product searches. This trend is poised to continue, with 93% of APAC consumers planning to either maintain or increase their engagement with these platforms for product discovery and purchases in the next couple of years.
Another significant insight is the role of Content Communities, influencing 48% of consumers. These communities are pivotal in fostering interactions and co-creation between consumers and brands. The report notes that 73% of consumers are actively involved in content creation, contributing to trends, and engaging in comment sections, indicating a move towards more fluid and integrated content consumption and creation.
Shant Oknayan, Head of Global Business Solutions for Asia-Pacific, Middle East, Africa, and Central Asia at TikTok, comments on the platform’s role in this evolving market. “TikTok delivers content-led commerce to consumers. As technology continues to develop, and economic factors influence consumer habits, brands must look to engage with their consumers in ways that provide them not only the best deal, but also an entertaining, seamless experience that does not disrupt their task flow. The clear lines between shopping and other activities are beginning to blur, and so it’s even more crucial for brands to deliver content that helps consumers buy what they want, when they want to, and how they want to.”
The “Shoppertainment 2024: The Future of Consumer & Commerce in APAC” report is a crucial resource for understanding the rapidly changing consumer landscape in the Asia Pacific. Available for download at www.tiktokshoppertainment.com, it provides invaluable insights for brands navigating this new era of consumer behavior.
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]]>The post 2024 Unveiled: APAC and Singapore’s Journey Towards Enhanced Well-Being and Prosperity appeared first on Marketing In Asia.
]]>In Singapore, a significant 64% are pledging to ‘Save more money,’ indicating a robust inclination towards financial stewardship. A substantial 58% aspire to ‘Eat more healthy food,’ showcasing an increased awareness of nutritional well-being. Meanwhile, ‘Learning a new skill/hobby’ has captured the interest of 45%, with an equal percentage resolved to ‘Focus on my mental health’ and ‘Spend more time with friends and family,’ underlining a holistic approach to life’s betterment.
Echoing these sentiments, the APAC region exhibits similar commitments with slight variances in percentages, indicating a regional consensus towards these core aspects of living.
The terrain of resolutions has observed a dynamic transformation. In Singapore, traditional goals such as ‘Watching less TV,’ ‘Drinking less alcohol,’ and ‘Volunteering’ have witnessed a pronounced decline. Notably, there has been a surge in the resolution to ‘Learn a new skill/hobby,’ signifying a shift towards continual self-improvement and learning.
Contrasted against the global backdrop, Singaporeans show distinct preferences, more likely to embrace ‘Losing weight,’ ‘Eating less meat/animal products,’ and ‘Volunteering.’ These unique tendencies underscore a society increasingly leaning towards healthier lifestyles and community contribution.
Despite doubts over the feasibility of adhering to resolutions, more than half of Singapore’s populace continues to formulate their annual aspirations, maintaining a tradition consistent from 2023 to 2024. However, the challenges of resolutions being overly ambitious, time constraints, and the associated pressure, continue to pose significant obstacles for many.
The path from resolution to fruition is a complex one. Singaporeans are somewhat more likely to accomplish ‘some’ of their resolutions compared to their APAC counterparts, but the struggle of not fulfilling any is a common plight. This data offers a nuanced view of the intricate dance between aspiration and achievement, reflecting the multifaceted nature of human endeavors in personal goal pursuit.
As the zeal for travel rekindles, destinations such as Malaysia, Japan, South Korea, Thailand, and Taiwan are emerging as preferred locales for Singaporeans eager to forge new narratives and experiences.
This deep exploration into the ambitions and resolutions of individuals in Singapore and the APAC region reveals a shared desire for a balanced and enriched life. It underscores a collective movement towards financial stability, health, personal growth, and the pursuit of new horizons. As we step into 2024, these insights provide a glimpse into the evolving priorities and aspirations of societies navigating an ever-changing global landscape.
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]]>The post Navigating Economic Currents: Southeast Asia’s Q3 Journey Amidst Global Gales appeared first on Marketing In Asia.
]]>Q3’s performance has been akin to a surprising breeze, with exports injecting a much-needed vitality into Southeast Asia’s economies. However, this breeze carries a note of caution. Analysts are treading carefully, mindful of the moderating private consumption and the overarching slowdown in the global economic climate. Malaysia, for instance, has witnessed a dip in consumer spending, signaling a broader regional trend of cautious consumer behavior.
As we gaze into the 2024 horizon, it’s painted with potential economic squalls. The slow march of global growth, particularly influenced by giants like the United States and China, casts long shadows. The once vibrant tourism sector is losing its luster, and private consumption is receding like the tide. These elements are converging to shape a guarded forecast for the upcoming year, with nations like Malaysia bracing for growth rates that shy away from their pre-pandemic vibrancy.
In the realm of exports, nations such as Singapore and Vietnam have charted a notable course, with Q3 witnessing a resurgence. This has been a buoyant force for GDP growth, surpassing many expectations. Yet, this resurgence is not without its counter-currents. The prolonged global economic malaise, particularly from the US and China, anchors down the potential of these export-driven surges. The report suggests a recovery in exports, but not yet a full revival of profitability and domestic investment, especially in trade-focused economies.
Closer to home, domestic markets are navigating through their own turbulent waters. From the tightening grip of monetary policies to the rising tides of living costs, private consumption is facing a multitude of pressures. The prospect of fiscal policy tightening and the looming threats of higher commodity prices add layers of complexity to the economic forecast.
Focusing on Malaysia reveals a landscape of robust domestic demand growth in Q3. Yet, the early signs of cooling, particularly in private consumption and services, suggest an impending change in climate. The report paints a detailed picture of the challenges and nuances facing Malaysia’s economy, from currency fluctuations to the impact of global economic trends on its export and tourism sectors.
The narrative expands beyond Malaysia, offering a panoramic view of the region. From the trade-focused shifts in Singapore’s economy to Vietnam’s export performance and Indonesia’s monetary policy considerations, each nation charts its unique path through these economic currents. The diverse challenges and opportunities underscore the intricate tapestry of Southeast Asia’s economic landscape.
In closing, while Q3 2023 has revealed some unexpected economic resilience in Southeast Asia, the region continues to navigate a complex sea of global and domestic challenges. The comprehensive analysis provided by Oxford Economics and ICAEW offers a detailed map of the multifaceted economic landscape, setting the stage for a journey marked by cautious optimism and an acute awareness of the potential challenges that lie ahead. As 2024 approaches, it’s evident that Southeast Asia’s economic journey is one of careful navigation through a sea of uncertainties, both near and far.
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]]>The post AI’s Ascendance: Navigating the Surge of 24 Billion Visits to Top 50 AI Tools appeared first on Marketing In Asia.
]]>ChatGPT, with its staggering 14 billion visits, accounting for over 60% of the total traffic to these AI tools, has established itself as a cornerstone in the AI revolution. Its dominance is not just in numbers but in the value it delivers across diverse sectors. From enhancing customer service with its conversational prowess to aiding educators in creating interactive learning experiences, ChatGPT is at the forefront of AI-driven communication. Its success is rooted in its advanced language processing abilities, which enable it to understand and respond to human inquiries with remarkable accuracy. This capability has made ChatGPT an invaluable asset in industries like retail, healthcare, and finance, where understanding and responding to human needs is paramount. Beyond its immediate applications, ChatGPT’s influence extends to setting new standards in AI ethics and governance, challenging developers and policymakers alike to consider the implications of such powerful technology.
The array of AI tools available today showcases the breadth and depth of innovation in the field. These tools, ranging from generative AI that aids in creative processes to complex data analysis tools for business intelligence, cater to a wide spectrum of needs. The diversity is a reflection of the evolving demands of industries that seek AI solutions for efficiency, precision, and creativity. Tools like Munch are prime examples of this innovation, blending AI with marketing analytics to derive impactful insights and content. Others focus on predictive modeling, customer behavior analysis, and even solving complex logistical problems. This variety in AI tools indicates a maturing market where AI is not a one-size-fits-all solution but a versatile technology that can be tailored to specific industry requirements.
AI’s transformative impact on marketing is particularly noteworthy. The rise of over 50 AI tools dedicated to marketing is a clear indication of the sector’s rapid evolution. These tools are not just enhancing traditional marketing techniques but are redefining them. Marketers now have at their disposal tools that offer deep insights into customer behavior, enabling personalized marketing strategies and real-time data analysis for more effective campaign management. AI in marketing goes beyond data analysis; it’s about creating experiences that resonate with consumers, leveraging AI’s ability to understand and predict consumer preferences. This paradigm shift is leading to more effective marketing strategies, higher customer engagement, and ultimately, better business outcomes.
The dynamic nature of the AI industry is perhaps best exemplified by the shifting user preferences and market trends. The rise and fall in the popularity of tools like Craiyon and MidJourney highlight the fast-paced and ever-evolving tech landscape. These shifts are not just about changing consumer tastes but also about the rapid technological advancements that are constantly reshaping the market. The AI industry, therefore, is one that demands continuous innovation, agility, and foresight. The ability to anticipate market trends, adapt to changing user needs, and continuously improve and innovate is key to succeeding in this competitive space.
The impact of AI on various sectors is profound and far-reaching. Beyond the impressive traffic numbers lies a transformation that is reshaping industries and redefining societal norms. From automating routine tasks to enabling informed decision-making, AI is changing the way businesses operate. It’s not just about operational efficiency; AI is enabling new business models, opening up new markets, and creating opportunities for innovation and growth. The integration of AI into various sectors represents a fundamental shift in how businesses approach problems and opportunities, leading to more efficient processes, enhanced customer experiences, and new ways of working.
The 24 billion visits to the top 50 AI tools underscore the significant role AI plays in our digital world. The influence of AI is extensive, reshaping industries and enhancing user experiences. As we embrace this AI-driven era, it is crucial to balance innovation with ethical considerations, ensuring a sustainable and responsible future for AI.
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]]>The post Singapore’s Vibrant Year: A Look at the Top 10 Stories of 2023 appeared first on Marketing In Asia.
]]>This year, a startling money laundering scandal came to light, involving over S$1 billion and implicating major banks such as United Overseas Bank, Citigroup, and RHB Bank. This development not only shook the foundations of Singapore’s financial sector but also captured the attention of the international community, spotlighting Singapore’s pivotal role in the global financial landscape.
The escalating conflict between Israel and Palestine, particularly since October, has been a source of international concern. In this context, Singapore’s approach, prioritising security and societal harmony through its robust governance and legal frameworks, has been a subject of extensive media coverage, offering a unique lens through which to view this global issue.
A highlight of the year was Prince William’s visit for the Earthshot Prize ceremony, a momentous occasion that shone a spotlight on Singapore’s commitment to environmental conservation. His engagement with local initiatives in wildlife protection and rainforest conservation underscored the country’s dedication to environmental stewardship on a global stage.
In a striking example of pop culture’s impact on the financial sector, Taylor Swift’s concert in Singapore catalysed a remarkable 45% increase in UOB card signups across Southeast Asia. This trend, particularly pronounced among women and those in the 30 to 40 age bracket, exemplifies the potent synergy between cultural events and financial products.
The increase in the Goods and Services Tax (GST) to 8% this year has been a pivotal economic event, affecting both retailers and consumers. The transparent communication of these pricing adjustments by key players in the retail sector, such as Guardian, Watsons, and NTUC FairPrice, was instrumental in preserving consumer trust during this period of economic transition.
A significant political development this year has been the planned transition of leadership from Prime Minister Lee Hsien Loong to Deputy PM Lawrence Wong, aligning with the ruling party’s strategy for political rejuvenation. This impending transition is poised to have profound implications for Singapore’s political stability and business climate.
After 52 years, Jurong Bird Park reemerged this year as the newly transformed Bird Paradise. Its innovative offerings, such as glamping experiences with penguins, alongside its focus on environmental education, heralded a successful new era for this iconic attraction.
The Formula One Singapore Grand Prix of 2023 was a celebration of speed and exhilaration, with Carlos Sainz securing his first win of the season. The event went beyond the race track, significantly boosting the local tourism industry with a surge in hotel bookings and visitor interest in key attractions.
The resounding victory of Tharman Shanmugaratnam in the Presidential Election, capturing 70.4% of the vote, was a landmark in Singapore’s political narrative. His widespread respect on the global stage, coupled with his campaign’s culturally resonant symbolism, underscores the power of cultural imagery in forging authentic connections with the electorate.
Dominating the year’s media discourse, the Presidential Election saw three eminent candidates vying for the nation’s highest office. The stringent criteria for candidacy ensured a contest marked by integrity and experience, making the election the focal point of public attention in Singapore for 2023.
As we reflect on the year 2023, it becomes evident that these stories have not only shaped the fabric of Singaporean society but also highlighted its evolving role in the global arena. These top stories, encompassing political, cultural, and environmental dimensions, will undoubtedly continue to influence Singapore’s journey in the years ahead.
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]]>The post TikTok in 2023: A Comprehensive Look at a Year Filled with Trends, Laughter, and Learning appeared first on Marketing In Asia.
]]>In 2023, TikTok emerged not just as a platform, but as a cultural phenomenon, engaging over a billion users in a tapestry of experiences that ranged from amusing life hacks to a collective fascination with ancient Rome. The app’s influence stretched beyond mere entertainment, embedding itself into the very fabric of digital culture.
In Malaysia, TikTok’s landscape was a rich mosaic of diverse content. Users uncovered the secrets of concur kid kendang, explored the nuances of sign language, and mastered the dynamics of long-flying paper planes. This blend of fun and learning underscored the platform’s multifaceted appeal.
“Year on TikTok 2023 is a way for us to honor some of the standout moments that have happened on TikTok throughout the year. It’s a window into stories that have inspired, entertained and educated over 1 billion people around the world. Thank you for another year of bringing joy to our community and sharing your creativity with us,” remarked Yin Yin Hooi, Head of Marketing and Operations at TikTok Malaysia.
The year was marked by a rich array of content that took over the ‘For You’ feeds, from the entrancing makeup routines by Dollievision to the catchy ‘Capybara song’. Malaysian users especially enjoyed the harmonies of Duo Anggrek and the festive spirit evoked by Ramadan-inspired dances. The most popular videos showcased the breadth of TikTok’s appeal, including @itsme.hairie’s musical talents and @frh.aida’s innovative outfit transitions.
Dominating the musical scene was FIFTY FIFTY’s “Cupid – Twin Ver – Sped Up Version”, a testament to TikTok’s influence in shaping musical trends and tastes. The song’s viral success led to its debut on the Billboard 100, highlighting TikTok’s role as a launchpad for artists.
2023 saw the emergence of inspiring creators like @sir_asai, known for his educational content, and @shahirazlan, a beauty and fashion innovator. These individuals not only captivated audiences but also earned accolades at the TikTok Awards Malaysia 2023, showcasing the platform’s ability to elevate talent.
The year also witnessed the rise of small businesses, buoyed by hashtags like #SMB and #SmallBusiness. Entrepreneurs found a supportive community on TikTok, from vintage t-shirt vendors to unique embroidery shops, illustrating the app’s role in fostering business growth.
TikTok’s educational content soared in popularity, with #BookTok and #CleanTok among the top trends. Malaysian users expanded their knowledge base, learning everything from magic tricks to insights into Malaysian law, proving that TikTok can be both informative and entertaining.
The platform witnessed a surge in unique trends and features, such as AI-enhanced cartoonified looks and the Soda Gembira Challenge. These trends exemplified the creative spirit of the TikTok community, pushing the boundaries of digital expression.
Creators like Irin Putri and Anissaa Jailani used TikTok to advocate for causes close to their hearts, from autism awareness to teaching sign language. Their contributions underscored TikTok’s role as a catalyst for social change and awareness.
Food enthusiasts like @ceddyornot and @shahrilwokay2 led culinary explorations across Malaysia, uncovering local delights and inspiring viewers to try new recipes. Their content highlighted the diversity and richness of Malaysian cuisine.
As TikTok Malaysia gears up for #Hello2024 and LIVE Fest, users are invited to reminisce about the year’s most unforgettable trends, creators, and moments. This retrospective showcases the dynamic and transformative nature of TikTok in 2023.
Year on TikTok 2023 is grounded in extensive internal research and trend analysis conducted from January to October 2023.
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]]>The post TikTok’s Trendsetting Trio: Pinning Down Millions in Sales with Viral Products appeared first on Marketing In Asia.
]]>These pins aren’t just decorative items; they’re creations of various artists, encapsulating memories through licensed characters and iconic symbols. Their meticulous craftsmanship and undeniable quality transform them into coveted collectibles, attracting a wide range of enthusiasts. For affiliates looking to capitalize on this viral trend, options abound with Shareasale (ID #148819) and Skimlinks, Ban.do, promising a lucrative 20% commission.
In a market teeming with health and wellness products, HUNGOVRAF stands out as a beacon for those plagued by headaches. Priced between $39.99 and $45.99, this innovative cooling cap solution has become a sensation on TikTok, resonating with the masses through its promise of instant relief and soothing comfort. The product, available on hungovraf.com/products/og-hangover-cap, boasts a unique technology that caters to both cooling and heating needs, targeting areas of pain for effective relief.
But HUNGOVRAF’s appeal doesn’t stop there. It extends its soothing embrace to various headache types, including migraines, cluster headaches, and even photosensitivity, while simultaneously offering noise reduction features. This multifaceted approach to headache relief has earned it a spot among TikTok’s viral products. Affiliates eager to join this success story can do so through ShareASale Merchant ID: 150041 and Skimlinks, with a commission of 20%.
Rounding out this trio of TikTok sensations is MyPillyPal, a product that has captured the hearts of travelers and organizers alike. This innovative pill container, priced at a reasonable $21.99 and available at mypillypal.com, is more than just a container; it’s a statement of practicality and style. Its unique feature lies in its cute labels, allowing for the neat organization of pills, vitamins, medications, and even small jewelry items.
MyPillyPal’s design is a blend of compactness and durability, ensuring the safety and separation of its contents. It’s an organizational marvel, eliminating the need for multiple containers and adding convenience to everyday life. Available in two versions, PillyPal V1 and V2, it caters to varying needs with its different compartment sizes. This BPA-free, recyclable organizer is available in several colors, appealing to a broad audience. Affiliates can partake in MyPillyPal’s success with a 20% commission via ShareASale and Skimlinks.
In this evolving landscape of social media-driven commerce, these three TikTok products are not just fleeting viral phenomena; they are reshaping the dynamics of online shopping. With their blend of innovation, practicality, and mass appeal, they exemplify the potential of creative marketing and the power of social media in catapulting products to commercial success. As we observe this trend, it’s clear that these products are more than just items for sale; they are markers of a changing consumer landscape, where engagement, creativity, and functionality reign supreme.
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]]>The post Navigating The Future: Cloud Trends and Predictions 2024 appeared first on Marketing In Asia.
]]>According to Forrester, technology spending in Asia Pacific (APAC) will grow 5.8% to reach US$732 billion in 2023. Seventy-four percent of growth will come from software and services as cloud adoption in the region increases. IDC also predicts that cloud-based spending by Asia Pacific and Japan (APJ) digital-native businesses is expected to hit US$26.5 Billion in 2024.
What does the future of clouds look like in 2024? Let’s look at some of the trends outlined by Sandeep Bhargava, SVP, Global Services and Solutions, Public Cloud Business Unit, to shake up 2024.
Additionally, the adoption of natural language models will expedite AI’s reach, transcending from being solely within the domain of technologists to a widespread application to non-technical users. In addition, given the sensitivity around the ethical usage of AI, it is likely that AI will augment humans instead of displacing them. In Malaysia, the government is working on an AI code of ethics to chart the future of AI. Anticipated in 2024, this code will embrace the Seven Principles of Responsible AI and also inculcate education and awareness of ethics.
The focus on ethical usage, encompassing accountability, reliability, explainability, security, and privacy, will persistently grow, paving the way for policy implementations and solutions in these critical areas.
These platforms are tailored to specific industries in a manner that streamlines the consumption of industry-specific solutions while adhering to unique regulatory and operational constraints. This evolution enables industries to leverage cloud resources more effectively for their distinct needs. Particularly, the rising demand for cloud services in Malaysia prompted the government to sanction the construction of fresh data centres by Amazon Web Services (AWS), Google Cloud, Microsoft Azure, and Telekom Malaysia within the country, aligning with its cloud-focused approach and the Malaysian Digital Economy Blueprint.
In summary, the cloud landscape in Asia Pacific and Japan is set for a revolutionary shift in 2024, driven by AI democratisation, industry-specific cloud platforms, and a heightened focus on sustainability. Organisations would need to optimise their cloud strategies for continual IT innovation to stay ahead of these trends in 2024.
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]]>The post Unlocking the next marketing revolution with generative AI appeared first on Marketing In Asia.
]]>Organisations in the Asia Pacific are already primed to push the envelope when it comes to generative AI use cases. According to a survey by IDC, 38 percent of businesses in the region are actively exploring the potential applications for generative AI. With modern marketing’s reliance on a combination of data-driven insights and creativity, generative AI’s ability to supplement human ingenuity by providing access to a wealth of content and data insights can be ground-breaking.
It is important to note that AI will not upend the marketing industry. Instead, generative AI will augment and enhance the work of marketing professionals. One significant way it will do this is by empowering predictive analytics. Sales and marketing teams achieve the best results when they collaborate closely. With multiple human touchpoints throughout the sales cycle and customer journey, a significant amount of data is generated. AI and machine learning (ML) can derive valuable insights from this data, allowing marketing professionals to predict the future state of their sales pipelines accurately. This empowers them to make precise adjustments to their marketing investments as needed.
Generative AI can make a difference here by accelerating the development of predictive analytics initiatives through faster code generation and expediting the entire lifecycle. And its impact extends far beyond predictive analytics. Generative AI applications powered by proprietary data allow marketing teams to minimise time spent on repetitive tasks and instead focus on more impactful activities. For instance, a simple generative AI tool can swiftly compile lists of potential leads within seconds, replacing hours spent manually doing this.
In addition, generative AI drives innovation by streamlining the creative process. Marketing teams thrive when ideas are refined collaboratively. Generative AI contributes to this process by generating more ideas during the feedback loop, enhancing and expediting the creative process. For example, a generative AI tool can swiftly produce captivating headlines and visually appealing designs that free up marketers to focus on more pressing tasks. In fact, 74 percent of respondents in a World Federation of Advertising survey report that they already utilise generative AI for content creation.
Furthermore, with the sheer volume of data marketing teams generate, being able to interpret thousands of pages of information rapidly is crucial. However, humans simply cannot do this. On the other hand, as an IDC report shows, generative AI thoroughly enhances knowledge management – and is having a significant impact across the Asia Pacific in this regard. Not only that, well-trained generative AI tools can help marketers develop highly customised marketing content as well as search engine–optimised content.
Through its ability to pore over an abundance of unstructured and semi-structured data instantly, generative AI can effectively develop tailored social media posts, landing pages, as well as emails.
The potential of combining generative AI with human creativity is vast and use cases so far are just the tip of the iceberg. By using advanced deep learning techniques, generative AI models break new ground as they can generate entirely new outputs rather than simply predict outcomes based on prior experience. This shift from prediction to creation opens exciting possibilities for innovation, but organisations need to have the foundations in place if they are to get anywhere with generative AI.
One critical aspect to consider is data availability. Contextualisation, a key advantage of generative AI and large language models (LLMs), relies on comprehensive data. However, many enterprises still have data scattered across isolated silos in legacy, on-premises systems. To leverage generative AI effectively in marketing, organisations should utilise cloud data platforms to consolidate and unify their internal data.
In addition to breaking down data silos, businesses must ensure seamless access to all types of their vast volumes of data – i.e., a cloud data platform that efficiently loads, integrates, and analyses data of various formats. In practical terms, this could enable users to ask direct questions that a LLM then uses to quickly analyse an application’s underlying data model and precisely pinpoint the right data asset or data insight.
Lastly, marketers should collaborate with cross-functional teams comprising data scientists, legal professionals, and security experts to proactively address data governance and security concerns. Establishing necessary guidelines and guardrails is essential. Moreover, ensuring the infrastructure meets the requirements for safeguarding sensitive data, such as personally identifiable information (PII) and internal documents, is crucial for maintaining data security.
Generative AI presents numerous advantages for enhancing marketing strategies, including improved predictive analytics, faster processes, increased creativity, and enhanced personalisation. This technology is already making a significant impact in software and enterprises, but there is still much potential to be explored.
Nothing encapsulates this potential better than the fact that generative AI fundamentally transforms how businesses interact with data. With generative AI, marketing teams can discover precisely the right data point, data asset, or data insight to maximise the value of their data. The caveat though is that organisations need a robust data infrastructure. This involves breaking down data silos, ensuring seamless access to all types of data, and proactively addressing data governance and security concerns – only then can human ingenuity and generative AI jointly take marketing strategies to new heights.
This article is authored by Denise Persson, Chief Marketing Officer, Snowflake.
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]]>The post Navigating 2023 Ecommerce Holiday Trends for Success appeared first on Marketing In Asia.
]]>Trend Insight: The festive shopping rush now commences well before the traditional holiday period, with special deals and promotions emerging as early as October.
Business Implication: Retailers must adapt their strategies to this new timeline. This includes having a well-stocked inventory and streamlined order processing systems to cater to the early wave of shoppers.
Trend Insight: Today, personalization is essential. Shoppers expect product recommendations that align with their individual preferences and past purchases.
Business Implication: Utilizing data analytics and AI technologies can enhance the shopping experience, making it more personalized, thereby increasing customer loyalty and boosting sales.
Trend Insight: The line between online and physical shopping experiences is increasingly becoming indistinct. Customers are looking for a cohesive experience across all channels.
Business Implication: Successful integration of online and offline channels is crucial. This includes ensuring consistent pricing and product availability across all platforms.
Trend Insight: Social media is rapidly transforming into a vibrant marketplace. Brands are tapping into these platforms for showcasing products and facilitating direct sales.
Business Implication: Leveraging social media for commerce by creating captivating content and simplifying the purchasing process can lead to new avenues for revenue.
As we approach the Christmas and New Year holidays of 2023, it’s evident that the ecommerce sector is undergoing rapid changes. By recognizing and adapting to these evolving trends, businesses can strategically position themselves for success in this new digital commerce era.
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]]>The post Asia-Pacific Real Estate Outlook 2024: Transformative Trends and Growth Opportunities appeared first on Marketing In Asia.
]]>According to Knight Frank’s New Horizon Outlook 2024 report, the Asia-Pacific logistics supply is poised for a record increase of 43.7% in 2024. This substantial rise is anticipated to alleviate the current tight supply conditions in the region. Christine Li, Knight Frank’s head of research in Asia-Pacific, highlights the expected influx in institutional logistics development, especially in Beijing and Shanghai, as a key factor in easing these conditions. This development presents businesses with expansion prospects and investors with lucrative opportunities.
Despite economic challenges, the Asia-Pacific prime residential sector remains strong. Keith Ooi, Group Managing Director of Knight Frank Malaysia, emphasizes the significant impact of the anticipated logistics supply increase on the commercial real estate sector. Christine Li notes a slight correction of 0.5% year-on-year in prime housing prices in 2023, reflecting the market’s resilience and the potential for mid-single-digit growth in 2024.
Kevin Coppel, Knight Frank’s managing director for Asia-Pacific, points out the region’s favourable demographics and investments in technology as driving forces for its economic and real estate potential. Christine Li adds that investors are realigning strategies to focus on long-term income and property market fundamentals.
The report also highlights several megatrends shaping the region’s real estate market:
For more detailed insights, readers are encouraged to download the full “Horizons: Asia-Pacific Tomorrow” report from Knight Frank.
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]]>The post Black Friday: A Shopping Revolution in Southeast Asia appeared first on Marketing In Asia.
]]>When it comes to Southeast Asians during Black Friday sales, their approach is one of calculated patience and strategic planning. A recent study has brought to light that an astonishing 80% of consumers in this region mark their calendars for Black Friday, specifically to make their major annual purchases. This trend points to a growing consumer intelligence, leveraging such global retail events to stretch their purchasing power.
Technology and gadgets, a sector where Southeast Asians have always shown keen interest, see a significant spike in sales during Black Friday. This sale period becomes a golden opportunity for tech enthusiasts in the region to upgrade their devices. From cutting-edge smartphones to the latest in home appliances, Black Friday discounts make high-end tech more accessible.
E-commerce is at the forefront of bringing Black Friday to Southeast Asian shores. Major online retailers and local e-commerce platforms start their preparations well in advance, curating a range of appealing deals that resonate with the regional audience. This not only makes global products more accessible but also ramps up the excitement and participation in Black Friday sales.
The globalization effect in shopping habits is unmistakable. Southeast Asians during Black Friday sales are engaging in a worldwide consumer culture, shifting from local and regional retail events to those with international appeal. This reflects the broader integration of Southeast Asian markets into the global economic fabric.
The consumer spending behavior in Southeast Asia during Black Friday sales mirrors broader economic patterns. As disposable incomes rise and global brand awareness grows, Southeast Asians are increasingly investing in quality, branded products, especially when offered at attractive prices. This shift spans various sectors, including electronics, fashion, and home goods.
The trend of Southeast Asians during Black Friday sales is poised for growth. As internet usage expands and e-commerce platforms increase their reach, Black Friday is set to become an even more pivotal event in the regional retail calendar. This evolution presents both opportunities and challenges for local retailers, who must adapt to remain competitive.
In essence, the Black Friday shopping phenomenon among Southeast Asians is a clear sign of the region’s deeper integration into the global consumer market. As this trend continues to evolve, it not only reshapes consumer habits but also signifies the dynamic nature of the retail industry in an era marked by globalization and the rise of e-commerce. Black Friday, for consumers and retailers alike, represents more than just a day of discounts—it’s a symbol of the changing retail landscape in Southeast Asia.
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]]>The post Singapore’s Workforce Embraces AI and Remote Working: Slack’s Global Research Reveals appeared first on Marketing In Asia.
]]>In a groundbreaking study released today by Slack, Singapore’s workforce has been spotlighted for its exceptional adaptability and comfort with virtual connections, earning the moniker “The Road Warrior.” This segment, encompassing 26% of the nation’s desk workers, showcases a strong preference for flexibility, with a staggering 91% working away from their desks and 46% valuing the ability to work according to their own schedule above all else.
These professionals are characterized by their adaptability, with 85% identifying as such, and their colleagues affirming their propensity to work from new locations (26%). This persona’s agility in the workplace is not just a preference but a defining trait, reshaping the concept of the work environment in Singapore.
Contrasting with the global trend, Singapore reports a lower presence of “Detectives”—those proficient in information gathering and sharing—attributing to its comparatively younger workforce. Globally, 30% of workers fit this persona, while Singapore sees only 21%, and India even less at 16%. These individuals are lauded for their organization (94%) and autonomous problem-solving (85%).
Singapore stands out with the second-highest AI usage globally, with 34% of workers engaging with AI technologies. However, apprehensions persist, with 80% of global desk workers expressing concerns about AI, including its potential for harmful developments, accuracy, and data security. Despite these fears, a hopeful 58% anticipate using AI in the future.
The study highlights a significant gap in support for new technology adoption, with 15% of Detectives and Road Warriors feeling underserved by their companies in terms of training and information. This underscores the urgent need for Singaporean businesses to address training and skill gaps, particularly in AI integration.
Derek Laney of Salesforce, a Slack Technology Evangelist for APAC, emphasizes the diversity of the Singaporean workforce and the importance of recognizing individual working styles. He states, “Whether you have five or 5,000 people, every workplace has a unique ecosystem of personalities, skill sets and working styles. With Singapore’s culturally diverse workforce, recognising these differences is vital for businesses that want to provide a truly empowering environment for their staff. No two employees work exactly alike, leaders must embrace a flexible management approach and versatile technologies so people can play to their unique strengths at work.”
For a deeper understanding of the workplace personas and their impact on technology adoption, Slack provides a comprehensive suite of resources including a full report, infographics, and a global fact sheet. The research, conducted by YouGov, surveyed 15,492 desk workers across nine markets to categorize them into distinct personas and explore their relationship with the workplace and emerging technologies like AI.
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]]>The post “Stray” Bounds onto macOS with Apple Silicon Support appeared first on Marketing In Asia.
]]>Mac gamers have been eagerly awaiting their turn to explore “Stray’s” atmospheric cyberpunk realms. However, there’s a catch: the game requires an Apple Silicon chipset to run, leaving those with older Intel-based Macs to look to cloud services or alternative platforms to indulge in this whiskered wanderlust.
First released on PC and PlayStation in July 2022 and later on Xbox in August, “Stray” has quickly become one of the darlings of the gaming world, even catching the attention of Engadget’s discerning reviewers. Its transition to Mac aligns with Apple’s broader strategic push into the gaming sphere, signaling a potential shift in market dynamics in the Asia Pacific region, where Apple’s influence is considerable.
The cat isn’t alone in its macOS journey. Gaming on Apple devices is receiving a new level of attention from prominent game publishers. Following “Stray,” the horror hit “Resident Evil Village” made its debut on the iPhone 15 Pro and certain iPad models just last week. The future promises even more, with heavy hitters like “Assassin’s Creed Mirage,” “Death Stranding,” and the “Resident Evil 4” remake all slated to enhance the Mac gaming ecosystem in the months to come.
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]]>The post From Bengaluru to Mumbai: India’s AI Startup Odyssey appeared first on Marketing In Asia.
]]>The digital age, characterized by rapid technological advancements, has positioned Artificial Intelligence (AI) as a linchpin of innovation. As nations globally grapple with the AI revolution, India emerges not merely as a participant but as a formidable contender. But, is India’s AI journey truly groundbreaking, or is it merely scratching the surface of its vast potential?
The AI Landscape in India
The past decade has seen a meteoric rise in AI and Machine Learning (ML) startups in India. From healthcare to fashion, from agriculture to real estate, AI’s transformative touch is evident. By 2018, Bengaluru alone amassed investments worth $87.85 million in the AI domain. Startups like Manthan, which offers AI-driven retail analytics, and SigTuple, revolutionizing medical diagnostics with AI, are just the tip of the iceberg. Yet, beneath these success stories lie challenges – a potential overlap in solutions, scalability issues, and global competition.
The Imperative for Evolution
While India’s AI achievements are commendable, the journey is far from over. The global AI arena is fiercely competitive. To maintain its edge, India must evolve. The government’s “Digital India” initiative is a step in the right direction, but more is needed. Public-private partnerships, fostering innovation, and a focus on education are crucial. The argument is clear: To lead in AI, India must continuously innovate and adapt.
Navigating the AI Maze
The road to AI supremacy is riddled with challenges, but the solutions are within reach:
Gleaning from Global Best Practices
The global AI landscape offers valuable lessons. The Finnish education system, emphasizing critical thinking, and Silicon Valley’s culture of innovation, can serve as blueprints for India’s AI journey. AI isn’t just for tech aficionados. It’s for everyone. From the farmer in rural India benefiting from AI-driven agritech solutions to the urban dweller interacting with AI chatbots – AI is omnipresent.
The transformative power of AI is evident across various sectors in India, each harnessing its capabilities to address unique challenges and drive innovation.
Healthcare: The healthcare sector stands as a testament to the revolutionary impact of AI. Beyond startups like SigTuple, there are numerous initiatives leveraging AI for predictive diagnostics, personalized treatment plans, and even robotic surgeries. The potential to save lives, reduce medical errors, and optimize patient care is immense. Moreover, AI-driven telemedicine platforms are bridging the urban-rural divide, ensuring that quality healthcare reaches the remotest parts of India.
Banking and Finance: The traditional banking sector in India is undergoing a digital metamorphosis. AI-driven algorithms are now being used for credit scoring, risk assessment, and fraud detection. Chatbots, powered by AI, are handling customer queries round the clock, ensuring seamless customer service. Furthermore, AI is enabling financial institutions to offer personalized financial products and services, tailored to individual customer needs.
E-commerce and Retail: The e-commerce boom in India is being further amplified by AI. Startups like YellowAI are just the beginning. AI-driven analytics are helping e-commerce platforms understand customer preferences, optimize supply chains, and predict market trends. Virtual trial rooms, personalized shopping assistants, and AI-driven inventory management are reshaping the retail experience, both online and offline.
Agriculture: In a country where a significant portion of the population depends on agriculture, AI’s impact is transformative. Beyond CropIn, AI-driven solutions are optimizing irrigation, predicting crop yields, and even assisting in pest control. Drones equipped with AI-powered cameras are monitoring vast farmlands, ensuring timely interventions and maximizing crop output.
Generative AI startups, a subset of AI that focuses on creating new content, is slowly but surely making its mark in India. While the country houses a fraction of global generative AI startups, their innovations are nothing short of groundbreaking.
MachineHack: Beyond hosting competitions, MachineHack is at the forefront of creating AI models that can generate code, optimize algorithms, and even assist in complex data science tasks. Their AI copilot for developers is not just a tool but a revolution, ensuring that developers have AI-backed assistance throughout their coding journey.
Mockey and Blend: The e-commerce sector is benefiting immensely from generative AI. Mockey allows users to create product mockups, while Blend assists in generating product photos and marketing materials. These tools ensure that businesses, regardless of their size, can have top-notch marketing collateral without the associated costs.
FastHRAI: Talent acquisition is being revolutionized by FastHRAI. Their platform, powered by GPT-4, screens candidates with unparalleled accuracy. In a competitive job market, such tools ensure that companies get the best talent, while candidates get opportunities that align with their skills.
Svayo: The beauty industry is not untouched by generative AI. Svayo offers personalized beauty recommendations, ensuring that customers get products and services tailored to their unique needs. In an industry driven by personal preferences, such AI-driven personalization is a game-changer.
PersonateAI: Another standout in the realm of generative AI is PersonateAI. This startup is pioneering the creation of digital avatars that can mimic real human behaviors and emotions. By capturing a few minutes of a person’s video footage, PersonateAI can generate a lifelike avatar that can speak, emote, and interact just like the original person. This has profound implications for industries like entertainment, gaming, and virtual reality. Imagine attending virtual meetings as your digital self or celebrities creating personalized content without being physically present. The blend of deep learning and generative algorithms by PersonateAI is pushing the boundaries of what’s possible in digital human representation.
The Indian government’s role in fostering the AI ecosystem is commendable. The launch of the “75@75 AI Startups in India” initiative by INDIAai, in celebration of 75 years of India’s independence, is a testament to the government’s commitment to promoting AI innovation. Such initiatives not only recognize the contributions of AI startups but also provide them with a platform to showcase their innovations.
As India stands at the cusp of an AI revolution, the choices made today will shape tomorrow. With the right blend of innovation, collaboration, and vision, AI startups in India can lead the global AI narrative
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