Retail Updates Q1 2023
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Price Survey #8
We’ve seen the world grapple with inflation, and we’ve also felt it strongly as prices of basic and essential goods have increased at unprecedented levels.
With this, Euroasia aims to help consumers make easier yet smarter decisions with their purchases by conducting a Price Survey showing the cheapest supermarket retailer. The said Price survey will thus be guided by the following principles:
- The Price Survey shall be conducted on a weekly basis
- An average of four retailers shall be surveyed each round
- An average of 30 -70 items available across all retailers being surveyed shall be canvassed
Retailers Surveyed
Items Surveyed
A total of 70 SKUs were surveyed. 62 of which are available across all retailers. The said 70 SKUs are as follows:
- Pancit Canton Kalamansi 80g
- Pancit Canton Chilimansi 80g
- Pancit Canton Sweet and Spicy 80g
- Lucky Me Beef 55g
- Lucky Me Chicken 55g
- Nescafe Original 26g/28g*10
- Great Taste White 30g*10
- Bear Brand Powder33g*8
- Milo 300g
- Datu Puti SoySauce 200ml
- Datu Puti Vinegar 200ml
- Lorins Patis Pouch 150ml
- Mang Tomas Regular 100g
- Ufc Banana Catsup 100g
- Ufc Banana Catsup 320g
- Eden Cheese Swak Pack/ Sulit Pack 45g
- Star Margarine 100g
- Absolute Water 500ml
- Yakult 80ml*5
- Mega Sardines in tomato sauce chilli 155g
- Mega Sardines in tomato 155g
- Century Tuna Flakes in Oil Hot and Spicy 180g
- 555 Sardines in tomato 155g
- Ligo Sardines Red 155g
- Argentina Fiesta Sausage 175g
- Argentina Corned Beef 175g
- 555 Tuna Mechado 155g
- 555 Tuna Caldereta 155g
- 555 Tuna Aftritada 155g
- Purefoods Corned Beef 210g
- Purefoods Corned Beef 150g
- Purefoods Corned Beef ChiliGarrlic 150g
- Skyflakes 25gx10
- Fita 30g*10
- Hansel Milk Sandwich 40g*10
- Cream O Vanilla 33g*10
- Jack and Jill Nova CountryCheddar 40g
- Angel Condensada 380g (295ml)
- Angel Evaporada Liquid Creamer 410ml
- Angel Evaporated Filled Milk 410ml
- Maggi Magic Sarap 55g
- Knorr Cube Chicken 120g
- Knorr Cube Pork 120g
- Knor Cube Beef 60g
- Knorr Sinigang Sampaloc Original 22g
- Iodized Salt McCormick 1kl
- Aji-no-moto 250g
- Purefood Hotdog Regular 1kg
- Ladies Choice Mayonaise Doy 220ml
- Ginebra San Miguel 350ml
- Emperador Brandy Light 1L
- Smart Diswahing paste lemon 200g
- Smart Diswahing paste kalamansi 200g
- Safeguard Bar pure white 175g
- Creamsilk Pink Stand out 12ml*12
- Head&Shoulder Menthol 12ml*12
- Sunsilk 15ml*12
- Downy fabcon sunrise fresh 38ml*6
- Coke Regular 2L
- Alaska Evap 360ml
- Buttercup Salted 200g
- Young’s Town Green 155g
- Champion white Original Bareta 370gm
- Chippy Red 27g
- Piattos Blue 40g
- Joy Lemon 540ml
- Joy Kalamansi 540ml
- Antonov Vodka 700ml
- Maxx Honey Lemon *50
- Knorr Liquid Seasoning 250ml
Result of the Survey
In terms of Pricing
The winner of this week’s price survey is Massway Supermarket – a retailer based in Manila. Out of the 4 retailers surveyed and with 62 number of SKUs, Massway Supermarket excelled in price. It is followed by Retailer 2 which is 1.66% more expensive, retailer 3 at 3.26% and Retailer 4 at 5.93%.
It is promising to note that smaller retailers like Massway Supermarket continues to compete with national players in pricing policy.
In terms of availability
In terms of availability, Puregold proved to be impeccable in assortment as it had all the 70 SKUs surveyed. Savemore Supermarket followed closely with only 1 missing item, Massway with 2 missing items, and South Supermarket with 3 missing items.
A pop-up store for this on-demand food and grocery marketplace
Pandamart, foodpanda’s online grocery store, has launched its first-ever physical pop-up store in the country. The new pandamart Pop-Up store is located in Trinoma Mall in Quezon City ready to serve consumers with its wide assortment of fresh, frozen, snacks, drinks, pantry essentials, pharmaceuticals, and other household items. Now shoppers can fully immerse themselves in the pandamart shopping experience.
The new pandamart pop-up store allows consumers to browse through the displayed products in the kiosk, order conveniently in the foodpanda app, and pick up the items
on the same day.
“The online grocery space is ever-growing and ever-changing, so to keep up with the current times, we are stepping up our game in offering a wide selection of quality groceries to customers,” said Danielle Eleazar, Head of Marketing (New Verticals) of foodpanda Philippines.
Apart from offering a leveled-up experience to consumers, the pandamart pop-up store is also bridging the gap between the usage of online and offline channels when it comes to grocery shopping for its app users.
Available until the end of May, pandamart’s pop-up store provides impressive features to give shoppers and consumers a first-hand experience of what pandamart has to offer.
Pandamart shoppers are in for a treat. Exciting activities, exclusive promos, discount vouchers, item giveaways from brand partners await pandamart shoppers; additional chances to win more prizes with the entertaining spin-the-wheel games. But wait, it doesn’t stop there! On May 27, tune in to the special Facebook live stream online selling event for a chance to win additional vouchers and prizes of up to Php 10,000!
Want to try foodpanda’s pandamart for the first time? Use the voucher code NEWGROCER for Php 100 off on your first order and enjoy convenient online grocery shopping in the comfort of
your home!
Original Article: https://mb.com.ph/2023/5/22/a-pop-up-store-for-this-on-demand-food-and-grocery-marketplace
Price Survey #7
We’ve seen the world grapple with inflation, and we’ve also felt it strongly as prices of basic and essential goods have increased at unprecedented levels.
With this, Euroasia aims to help consumers make easier yet smarter decisions with their purchases by conducting a Price Survey showing the cheapest supermarket retailer. The said Price survey will thus be guided by the following principles:
- The Price Survey shall be conducted on a weekly basis
- An average of three retailers shall be surveyed each round
- The survey shall be conducted and finished within one week
- An average of 20 -50 items available across all retailers being surveyed shall be canvassed
Retailers Surveyed
Items Surveyed
A total of 53 SKUs were surveyed. 34 of which are available across all retailers. The said 53 SKUs are as follows:
- Pancit Canton Kalamansi 80g
- Pancit Canton Sweet and Spicy 80g
- Lucky Me Beef 55g
- Lucky Me Chicken 55g
- Nescafe Original 26g*10
- Great Taste White 30g*10
- Bear Brand Powder33g*8
- Milo 300g
- Datu Puti SoySauce 100ml
- Datu Puti Vinegar 100ml
- Lorins Patis Pouch 150ml
- Mang Tomas Regular 100g
- Ufc Banana Catsup 100g
- Eden Cheese Swak Pack/ Sulit Pack 45g
- Star Margarine 100g
- Absolute Water 500ml
- Yakult 80ml*5
- Mega Sardines in tomato sauce chilli 155g
- Mega Sardines in tomato 155g
- Century Tuna Flakes in Oil Hot and Spicy 180g
- 555 Sardines in tomato 155g
- Ligo Sardines Red 155g
- Argentina Fiesta Sausage 175g
- Argentina Corned Beef 175g
- 555 Tuna Mechado 155g
- Purefoods chili garlic 210g
- Skyflakes 25gx10
- Rebisco Choco 35g*10
- Jack and Jill presto Cream peanut butter 30g x 10
- Jack and Jill Nova Country Cheddar 40g
- Angel Condensada 380g (295ml)
- Angel Evaporada Liquid Creamer 410ml
- Maggi Magic Sarap 55g
- Knorr Cube Chicken 120g
- Knorr Cube Pork 120g
- Knor Cube Beef 60g
- Knorr Sinigang Sampaloc Original 22g
- Hermano White Sugar 1kl
- Hermano Brown Sugar 1kl
- Purefood Hotdog Regular 1kg
- CDO Fantastyk Pork Tocino 450g
- Ufc Black Pepper whole 30g
- Baguio Oil Tipid pack 175ml
- Ginebra San Miguel 350ml
- Emperador Brandy Light 1L
- Smart Dishwashing paste lemon 200g
- Smart Dishwashing paste kalamansi 200g
- Safeguard Bar pure white 125g
- Creamsilk Pink Stand out 12ml*12
- Head & Shoulder Menthol 12ml*12
- Sunsilk 13ml*12
- Colgate Tp GRF Twin 22g*6
- Downy 24ml*7
Result of the Survey
In terms of Pricing
Ultra Mega Supermarket remained true to its tagline – “Presyong mababa, mas pinababa pa”. Out of the 6 retailers surveyed last May 8 – 12, Ultra Mega Supermarket ranked first in best price. It is followed by Kemp Mart and Super 8, which are just more expensive by 0.06% and 2.42% respectively.
In terms of availability
With regards to availability, SM Supermarket presented the lowest number of missing items having only 3 missing SKUs. It was followed by Puregold and Super 8 Grocery both missing only 4 SKUs. Retailer 6, having the highest recorded number of missing items reported that while the products are being sold on their stores, their stocks cannot accommodate the demand of sales in their stores.
Millennials are the big retail spenders this year
Global e-commerce spending will be led by millennials this year and they prefer online versus in-store when it comes to shopping.
Those are top findings from an ESW Global Voice survey that revealed more than 25% of millennials will spend more online this year when it comes to health, beauty, apparel, consumer electronics and luxury items.
The study also revealed nearly 73% of millennial shoppers plan to spend the same or more online in 2023, which will make this cohort the leader in global e-commerce spending this year, according to a press release on the findings..
“The millennial consumer remains fully committed to their preference for online shopping over physical retail,” Patrick Bousquet-Chavanne, president and CEO, ESW Americas, said in the release. “Millennials’ spending power has grown to $2.5 trillion, and they are not yet even in their prime earning years. They are spending more online than in-store across several categories, and these results indicate that brands must continue to evolve, improve, and optimize their e-commerce to attract and retain this increasingly powerful demographic.”
The survey’s polled more than 16,000 respondents across 16 countries comprised international shoppers across all demographics.
Additional findings include:
- Nearly 50% more millennials will increase their online spending for health and beauty products compared to Gen Z, and 42% more than Gen X and Baby Boomers.
- 27% of millennials will spend more for luxury goods online in 2023, compared to 20% of Gen Z, 22% of Gen X, and 21% of Baby Boomers.
- 77% more millennials will increase their online spending for apparel and footwear versus Baby Boomers.
- 25% of millennials will spend more for consumer electronics, such as phones, games and software, compared to 19% of Gen Z and Gen X respondents, and just 13% of Baby Boomers.
See the full report of ESW: https://esw.com/wp-content/uploads/2022/01/global_voices_2022.pdf
Original Article: https://www.retailcustomerexperience.com/news/millennials-are-the-big-retail-spenders-this-year/
Price Survey #6
We’ve seen the world grapple with inflation, and we’ve also felt it strongly as prices of basic and essential goods have increased at unprecedented levels.
With this, Euroasia aims to help consumers make easier yet smarter decisions with their purchases by conducting a Price Survey showing the cheapest supermarket retailer. The said Price survey will thus be guided by the following principles:
- The Price Survey shall be conducted on a monthly basis
- An average of three retailers shall be surveyed each round
- The survey shall be conducted and finished within a day
- An average of 20 -30 items available across all retailers being surveyed shall be canvassed
- Only the least expensive retailer shall be revealed
Retailers Surveyed
Items Surveyed
A total of 21 basic items were surveyed, which are as follows:
- Pancit Canton Chilimansi 80g
- Lucky Me Chicken 55g
- Nescafe Original *10
- Skyflakes 25gx10
- Great Taste White*10
- Datu Puti Soy Sauce 100ml
- Maggi Magic Sarap 55g
- Datu Puti Vinegar 100ml
- Lorins Patis Pouch 150ml
- Mang Tomas Regular 100g
- Eden Cheese Swak Pack 45g
- Bear Brand Powder33g*8
- Rebisco Choco 35g*10
- Star Margarine 100g
- Absolute Water 500ml
- Century Tuna Flakes in Oil Spicy 180g
- Ligo Sardines Red 155g
- Argentina Sausage 175g
- 555 Tuna Mechado 155g
- Creamsilk Pink 11ml*12
- Head&Shoulder Menthol 12ml*12
Result of the Survey
Philippines, Malaysia emerge as startup hot spots, says 500 Global’s Vishal Harnal
The Philippines and Malaysia’s startup ecosystems are emerging as lesser-known hot spots in Southeast Asia for investors seeking solid returns from young tech companies, according to a senior executive with a leading venture capital firm in the region.
In an interview with Nikkei Asia, Vishal Harnal, global managing partner of 500 Global, said the Philippines is “at an inflection point” for growth, while Malaysia is the region’s “unsung hero.” Grab, one of the largest tech companies in the region was founded in Malaysia before relocating its headquarters to the city-state.
After investing in regional tech companies like Grab, and Indonesian e-commerce giant Bukalapak, Harnal said 500 Global will be putting more capital into these two markets, following the appointment of three new regional partners, including a former executive of Malaysia’s sovereign wealth fund, Khazanah Nasional Berhad.
Founded in 2010, the Silicon Valley-headquartered venture capital firm, which has $2.7 billion in assets under management, has funded more than 340 startups in Southeast Asia over the last decade. The company now counts more than 50 team members across the region.
To tap further into the region’s growth potential, 500 Global announced last week the appointment of Martin cu, former head of the Philippines branch of Singapore-based logistics unicorn Ninja Van, as one of its new partners. Cu will oversee 500 Global’s investments based in Manila.
“It was a very purposeful decision because we felt that we needed senior representations from seasoned operators and investors on the ground to build up our presence in the Philippines,” Harnal said.
Harnal noted the country is seeing growing “sophistication of technical tech talent” and entrepreneurs. Another tailwind is the lower cost of the internet which had been relatively high compared with other Southeast Asian countries. This change is giving wider access to technology to the Philippines’ young English-speaking population
Yet, of the total $15.82 billion in startup equity funding raised in Southeast Asia last year, companies in the Philippines and Malaysia accounted for just 3.9% and 3.3%, respectively, according to DealStreetAsia data. Singapore-headquartered companies captured the largest slice, at 61.9% of the total, followed by Indonesia at 23.8% and Vietnam at 4.5%.
Nevertheless, Harnal said he is also focused on the Malaysian tech industry, since startups “that have defined the Southeast Asian landscape really started as Malaysian companies,” referring to Grab, which was founded in Kuala Lumpur in 2012 as MyTeksi.
500 Global also named as a partner Shahril Ibrahim, former director of investments and head of Khazanah Americas, under Malaysia’s sovereign wealth fund.
“Now that we’ve cemented a reputation, and expertise doing early-stage investing over the years, we’re now doubling down on moving up the stack and building out our growth capabilities in Southeast Asia to better serve founders and their needs as they evolve over time in the market,” Harnal said.
500 Global’s commitment in the region, however, comes at a time when fundraising for startups has been slowing, following a surge during the COVID-19 pandemic. Last year, Southeast Asian startups raised a total of $17.79 billion in equity and debt funding, down 31% from the previous year, on the back of worsening economic conditions, according to DealStreetAsia.
Harnal said 500 Global had also slowed its investment in regional startups in 2021 and through the first part of 2022. “We felt it was overheating and the price didn’t make sense,” he said.
“But now, in 2023, we saw [startups’] valuations start to rationalize again,” he said. “Because we were more circumspect about deploying capital over the last few years, we’re able to now go in with a lot of firepower and invest a lot more actively and aggressively into companies.
Original Article: https://www.dealstreetasia.com/stories/philippines-malaysia-startup-hot-spots-332308
Gourmet Farms: A Sustainable Partnership for the Future
Sustainability continues to influence Millennials and Gen Zs’ online shopping
Proving how sustainability plays in Millennials and Gen Zs’ shopping is Zalora’s Southeast Asia Trender Report 2022
Sustainability in fashion is more than just a trend. Consumers demand it. Thanks to modern technology, shoppers now get more information about every piece they purchase with just a click. The consumers of tomorrow—Millennials and Gen Zs—want wearable items that support their causes, which pushed brands not just to make beautiful clothes and accessories, but something that has more substance in their style.
Proving how sustainability plays in Millennials and Gen Zs’ shopping is Zalora’s Southeast Asia Trender Report 2022. According to the lifestyle e-commerce platform, shoppers belonging to those age demographic “are prioritizing sustainability in their purchasing decisions.”
“Both Zalora’s Earth Edit and pre-loved segments saw substantial growth year-on-year,” the e-commerce platform states. “Total sales for Earth Edit, which focuses on the use of sustainable materials, increased by 152 percent from 2020 to 2021 and continued to have double-digit growth as of Q3 in 2022. Brands have reacted to this trend by expanding their product offerings on Zalora.”
Its pre-loved segment, although still very small, also saw a sharp growth of 70 percent from 2021 to 2022, led by Millennials and Gen Zs who will continue to drive the momentum for circular fashion, as per Zalora.
“As a push towards carbon-neutral continues to underscore fashion and e-commerce, brands can stand to gain market share by introducing more sustainable products while reviewing their supply chains,” Zalora added.
Its report also mentioned how Gen Zs spend most on sports-related products (29 percent), followed by apparel (25 percent). Both Millennials and Gen Zs lean more toward purchasing sports lifestyle shoes and sports performance shoes. Meanwhile, consumers of all ages are also adding to cart sports electronics, giving it a 15 percent growth from 2021 to 2022. Zalora concludes that this reflects consumers prioritizing health and wellness in our pandemic-new normal milieu.
“As for the biggest spenders of wellness products in Southeast Asia, Zalora’s data shows they come from Indonesia and the Philippines,” it says. “Across the region, adults above 40 spent the most, followed by Millennials aged 26 to 30.”
The Trender Report 2022 is based on a comprehensive analysis powered by Zalora’s retail intelligence and data analytics solution, Data by Global Fashion Group, to forecast consumer megatrends and purchasing patterns that will inform and shape retail strategies for 2023. It also includes intel from close to 60 million monthly visits, complemented by insights driven by Google and other partners.
“The nascent Southeast Asian e-commerce landscape is undergoing a significant digital transformation. Even as we brace for the potentially volatile climate ahead, it has become increasingly important for brands and retailers to connect with consumers in the right way,” said Gunjan Soni, Zalora Group’s chief executive officer. “Our flagship state-of-the-industry report helps to guide the industry through this unpredictable time and aid in their retail strategies as they navigate through the region’s diversity and build on the momentum.”
To know more about Zalora’s Southeast Asia Trender Report 2022, click here.
Original Article : https://mb.com.ph/2023/03/04/sustainability-continues-to-influence-millennials-and-gen-zs-online-shopping/
Filipino retailers ahead of ASEAN peers in live-selling – report
Filipino retailers have quickly adopted live selling compared to their peers in the region as a major platform to push their merchandize to the market, according to a leading tech-enabled logistics company.
In its first ever white paper on Live Selling in Southeast Asia (SEA), the country’s leading tech-enabled logistics company Ninja Van Philippines revealed that 47 percent of Filipino sellers conduct sessions daily, versus weekly average in the region.
The white paper introduces Live Selling as one of the up-and-coming SEA e-commerce trends, and shares Live Selling insights collected from over 1,000 Ninja Van’s e-commerce sellers across Singapore, Malaysia, Indonesia, The Philippines, Thailand, and Vietnam.
While still a nascent industry, the company’s white paper showed that nearly one in three surveyed sellers have tried live selling.
Specifically, Ninja Van said that of those who are already live selling, nine in 10 prefer to do it themselves, and only one in 10 tap influencers to do live selling for them. Filipino sellers are among the most prolific live sellers, with 47 percent doing it daily – against a 31 percent regional average.
More Filipinos than their regional counterparts also believe that live selling brings in new business, with 74 percent saying that attracting new customers is a top driver for conducting live selling. A secondary driver would be to increase profit, with 52 percent of Filipino sellers saying live selling is more profitable than just posting items on marketplaces and apps.
“Live selling is an interesting marketing tactic for e-commerce sellers,” said Winston Seow, Chief Marketing and Enablement Officer, Ninja Van Group. “It’s the only tactic that can fast-track shoppers’ purchase journeys from awareness straight to conversion. Live selling also gives e-commerce sellers the ability to build relationships at scale with their shoppers, both new and existing.”
Filipino sellers can spend up to 14 hours weekly conducting live selling sessions, versus a regional average of up to six hours. Most of the early adopters of live selling are from low-involvement product categories such as Fashion, Beauty & Personal Care, Food and Beverages, as well as Home and Living.
While Shopee (27.0%), Facebook (25.5%), and TikTok (22.5%) are ranked as the top three live selling channels, the close margins signal that the champion has yet to emerge in SEA. This could be explained by the fact that on average, the surveyed SEA e-commerce sellers use two channels for Live Selling, presumably to maximize their outreach to live shoppers.
Sellers also use live selling as a means to build deeper connections with consumers. “Live selling allows us to easily and directly engage with our audience who have become regular viewers of our live sessions. We’ve also seen lower product return rates since we have started live selling,” says Nikka Arasa of Suniega Stainless Products Tradings, a stainless product manufacturer based in Nagcarlan, Laguna.
The white paper further explores the challenges of Live Selling, such as keeping Live Shoppers engaged, preparing on-set logistical requirements, as well as sales and post-sales arrangements, while providing recommended solutions.
The Live Selling in SEA white paper reaffirms the Ninja Van Group’s commitment to understanding the ever-changing landscape in order to provide e-commerce sellers with hassle-free delivery solutions.
Ninja Van Philippines plans to conduct their first-ever live seller accelerator program, designed to equip both new and would-be live sellers necessary skills and seed money to bridge their business to live selling platforms.
With its dominance in Southeast Asian e-commerce logistics, the Group continues to nurture an ecosystem that provides value-added services and tools to ensure a seamless experience for shippers and shoppers alike.
Launched in the Philippines in 2016, Ninja Van’s “Todo Hustle, No Hassle” commitment now serves 100% of the Philippine population, and has made it among the fastest-growing tech logistics companies in the country. Today, Ninja Van continues empowering businesses with fast deliveries, excellent service, and innovative logistics solutions.
Ninja Van Philippines operates the groups largest automated sorting facility in its Cabuyao, Laguna hub.