Industry Lessons

3 Ways Amazon Has Changed Retail For Good

Before the days of Amazon, retail marketing was pretty simple. You reach out to as many consumers as possible and get them to come to your store. However, Amazon has disrupted and changed retail for good. Amazon has set the bar for digital commerce by curating an assortment of both product and expectation. This way, consumers are satisfied whenever and wherever. The all-encompassing nature of Amazon’s approach to retail is all the rage today. With that, let’s take a look at a few ways in which Amazon has changed the retail industry for good! 1. Predictive and Accurate Product Searches What happens when you have a giant catalog of products? While most retailers focus on paid and organic reach, Amazon has no need for such channels. 55% of shoppers say that they begin their product searches o...

Blue Ocean Strategy: How To Use It For Your Restaurant Business

In 2005, Professor W. Chan Kim and Renee Marbourgne introduced a ground-breaking concept called the “Blue Ocean Strategy”. Their book, “Blue Ocean Strategy: How To Create Uncontested Market Space and Make Competition Irrelevant,” simply encourages companies to create rather than compete. The book provides the simple discrepancy that rather than struggling for survival in bloody “Red Oceans”, companies should look to “Blue Oceans” – a pursuit of high product differentiation and low cost, eradicating competition in the process. For restaurants, this means providing an alternative to the existing modes and models that most are founded on. Creating new and uncontested market spaces should be the primary focus. Capturing new demand is far more profitable than constantly vying to out-do rivals. ...

What We Can Learn From Singapore’s Mass Food Poisoning Incident

Recently, a string of restaurants were hit by a mass food poisoning scandal. Singapore has to date maintained a reputation for being one of the cleanest countries in the world. And this ‘cleanliness’ extends to the F&B industry, where restaurants are expected to play their part in maintaining a high standard of hygiene. What are the key lessons and takeaways that restaurants can gain from this? How can other F&B outlets prevent an epidemic? In this article, we take a look at the recent mishaps and address these questions appropriately. The Food Poisoning Cases In November, more than 600 people had fallen ill, dozens of which were hospitalized in separate food contamination incidents here in Singapore. In chronological order, these are the cases: 6th Nov: Spize The first incident sa...

3 Things Singaporeans Can Learn from What To Eat’s Failure

A Singaporean food delivery company, ‘What To Eat‘, became unreachable after failing to pay their merchants for services provided to them. What To Eat was founded in 2013 and was one of the first food delivery services to gain popularity in Singapore, alongside Deliveroo and Foodpanda. The owner, 40 year-old Benson Lo, had seemingly disappeared when a reporter tried to reach out to him at his home and Geylang office last week. Mr Lo eventually responded in a Channel News Asia story, stating that he is looking to declare his company bankrupt. He says that WhatToEat has been struggling due to high overheads, poor business and stiff competition. “I hope I can repay them, but I really have no means.”. Benson’s pitiful apology comes a little too late, as owners of F&B outlets ha...