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Millennials are the big retail spenders this year

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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

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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

map-survey

Items Surveyed

A total of 21 basic items were surveyed, which are as follows:

  1. Pancit Canton Chilimansi 80g
  2. Lucky Me Chicken 55g
  3. Nescafe Original *10
  4. Skyflakes 25gx10
  5. Great Taste White*10
  6. Datu Puti Soy Sauce 100ml
  7. Maggi Magic Sarap 55g
  8. Datu Puti Vinegar 100ml
  9. Lorins Patis Pouch 150ml
  10. Mang Tomas Regular 100g
  11. Eden Cheese Swak Pack 45g
  12. Bear Brand Powder33g*8
  13. Rebisco Choco 35g*10
  14. Star Margarine 100g
  15. Absolute Water 500ml
  16. Century Tuna Flakes in Oil Spicy 180g
  17. Ligo Sardines Red 155g
  18. Argentina Sausage 175g
  19. 555 Tuna Mechado 155g
  20. Creamsilk Pink 11ml*12
  21. Head&Shoulder Menthol 12ml*12

Result of the Survey

metro-supermarket-result-survey

Philippines, Malaysia emerge as startup hot spots, says 500 Global’s Vishal Harnal

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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

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Sustainability continues to influence Millennials and Gen Zs’ online shopping

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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

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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.

Original Article : https://mb.com.ph/2023/01/17/filipino-retailers-ahead-of-asean-peers-in-live-selling-report/

Price Survey #5

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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 two retailers shall be surveyed each round
  • The survey shall be conducted and finished within a day
  • An average of 30 -60 items available across all retailers being surveyed shall be canvassed.

Retailers Surveyed

s&r-retailers

Items Surveyed

A total of 57 basic items were surveyed, which are as follows:

  1. KS choco covered raisins 54oz
  2. KS choco covered almond 54oz
  3. M&M’s peanut chocolate pantry size 62oz
  4. M&M’s milk chocolate pantry size 62oz
  5. Spam 12oz
  6. Spam lite 12oz
  7. Spam less 12oz
  8. Spam tocino 12oz
  9. Delimondo ranch style corned beef 380g
  10. Delimondo chili&garlic corned beef 380g
  11. Gatorade frost glacier mix 76.5oz
  12. Del monte mango juice 1L
  13. Del monte 4 seasons 1L
  14. Del monte pineapple juice fiber-enriched 6/240ml
  15. Del monte 100% pineapple juice reducol 6/240ml
  16. Del monte tomato sauce original 900g
  17. Del monte tomato sauce italian 1kg
  18. Del monte spaghetti 900g
  19. Lucky me pancit canton chilimansi 6/55g
  20. Lucky me chicken noodles 6/55g
  21. Lucky me beef noodles 6/55g
  22. Kewpie mayonnaise 1kg japan
  23. Mang tomas lechon sauce 550g
  24. Alaska evaporated milk 370mL
  25. Alaska condensed milk 300mL
  26. KS organic raw honey 8oz
  27. Coco natura 1kg
  28. Coco natura 50packets net wt. 175g/6.17oz
  29. Skippy chunky peanut butter 48oz
  30. Skippy creamy peanut butter 48oz
  31. Silver swan soy sauce 3785mL
  32. lee kum kee panda oyster sauce 907g
  33. dutchmill strawberry yogurt 4/180mL
  34. dutchmill mixed berries yogurt 4/180mL
  35. kopiko brown coffee 30ct/25g
  36. Arla organic full cream milk 1L
  37. Cowhead regular 1L
  38. Nescafe orig 30sachet 28g
  39. Nestle fitnesse 375g
  40. Pringles cheese 5.5oz
  41. Pringles sour cream 5.5oz
  42. Ruffles cheddar 6.5oz
  43. Ruffles sourcream 6.5oz
  44. Purefoods TJ Reg hotdog 1kg
  45. Anchor salted 227g
  46. Anchor unsalted 227g
  47. Yakult probiotics drink 5/80mL
  48. Yakult lite probiotics drink 5/80mL
  49. Sprite 1.5L
  50. Royal 1.5L
  51. Coke 1.5L
  52. Cream silk pink 900mL
  53. Palmolive smooth 600mL
  54. Palmolive moisture 600mL
  55. Zonrox colorsafe bfresh 3.6L
  56. Joy dish liquid lemon 3/540mL
  57. Baygon multi insect killer 600mL

Result of the Survey

s&r-survey-results

Price Survey #4

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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 bi-monthly basis
  • An average of three retailers shall be surveyed each round
  • Most items to be surveyed shall be basic commodities
  • 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

Price-survey-landmark-supermarket-retailers

Items Surveyed

A total of 25 basic items were surveyed, which are as follows:

  1. 555 sardines chili 155g
  2. Angel All-purpose creamer 370ml
  3. Birch tree fortified milk drink 33g
  4. C2 green tea apple 355ml
  5. Datu puti soy sauce 385ml
  6. Knorr beef cubes savers 120g
  7. Knorr beef pantry pack 60g
  8. Knorr chicken pantry pack 60g
  9. Knorr fish cube pantry pack 60g
  10. Knorr pork cubes pantrypack 60g
  11. Knorr pork cubes savers 120g
  12. Knorr shrimp cubes pantrypack 60g
  13. Knorr sinigang sa sampalok original 44g
  14. Kremtop creamer 170g
  15. Lucky me beef 55g
  16. Lucky me chicken 55g
  17. Lucky me pancit canton original 80g
  18. Palmolive shampoo intensive moist pink 11+1pcs.
  19. Palmolive shampoo ultra smooth green 11+1pcs.
  20. Safeguard bar soap pure white 175g
  21. Safeguard bar soap pure white 130g
  22. Skyflakes 25gx10
  23. Skyflakes 25gx24
  24. Zonrox color safe 450ml
  25. Zonrox original bleach 1L

Result of the Survey

Price-survey-landmark-supermarket-result

Price Survey #3

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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 bi-monthly basis
  • An average of three retailers shall be surveyed each round
  • Most items to be surveyed shall be basic commodities
  • 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

price-survey-merrymart-grocery-retailers

Items Surveyed

A total of 21 basic items were surveyed, which are as follows:

  1. Mega sardines in tomato 155g
  2. Mega sardines in tomato sauce chilli 155g
  3. 555 sardines in tomato sauce chili 155g
  4. Argentina corned beef 175g
  5. Purefoods chili garlic 210g
  6. Lucky me chicken 55g
  7. Lucky me beef 55g
  8. Lucky me pancit canton sweet & spicy 80g
  9. Nescafe 3in1 creamy white twin pack 58gx10s
  10. Maggi magic sarap 8g 16s
  11. Jack & Jill Nova Country cheddar 40g
  12. Jack & Jill presto cream peanut butter 30gx10
  13. Angel condensada 380g
  14. Angel evaporada liquid creamer 410ml
  15. Knorr cube chicken 120g
  16. Knorr cube pork 120g
  17. Knorr cube beef 60g
  18. Knorr sinigang sampaloc orginal 20g
  19. Smart dishwashing paste kalamansi 200g
  20. Smart dishwashing paste lemon 200g
  21. Safeguard bar pure white 130g

Result of the Survey

price-survey-merrymart-grocery-survey-results

Price Survey #2

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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:

Disclaimer: Euroasia Research Experts does not endorse any product/brand/retailer. This exercise was conducted purely for research purposes.

  • The Price Survey shall be conducted on a bi-monthly basis
  • An average of three retailers shall be surveyed each round
  • Most items to be surveyed shall be basic commodities
  • 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. (For this survey, a total of 29 basic commodity items were canvased but only 17 items were present available across all retailers)
  • Only the least expensive retailer shall be revealed

Retailers surveyed

retailers

Items Surveyed

A total of 17 basic items were surveyed, which are as follows:
1. Maggi Magic Sarap 55g
2. Maggi Magic Sarap 8gx 16
3. Gardenia white bread 600g
4. Gardenia white bread 400g
5. Nescafe creamy white twin pack 52g x 10
6. Great taste white twin pack 50g
7. Kopiko blanca twinpack 50g
8. Lucky me pancit canton kalamansi 80g
9. Lucky me pancit canton original 80g
10. Lucky me beef 80g
11. Lucky me chicken 80g
12. 555 sardines in tomato sauce with chili 155g
13. 555 sardines tomato sauce 155g
14. Knorr pork cubes 120g
15. Alaska condensada 300ml
16. Bearbrand fortified 320g
17. milo active Go 24gx14

Result of the Survey

survey-results