Retail Industry

Facebook Ads: Essential Tips for Success

Business owners have an understanding that their customers are on Facebook, Instagram and maybe even Tik Tok. The daily active users on these platforms are growing rapidly everyday.  Over 2 billion people use Facebook everyday. 82% of time spent online is on social media platforms. E-commerce spending has risen 22% in the last quarter of 2020. Social media is definitely crucial to have a successful business, but the question is how do you get the most out of it?  1. Remember the Sales Funnel 2. Follow Best Practices   1.    Make the most out of your title, body text and image 2.    Test multiple formats and content versions (Videos, Images, GIFs) 3.    Maximum Video length: 15 seconds 4.    Use an Attractive & Engaging Image or Video that represents your product truthfully. (you don’t ...

Should SMEs consider Influencer Marketing?

What is influencer marketing? Influencer Marketing is the fastest-growing customer acquisition marketing method. Nearly 40% of marketers say they are now dedicating a budget for influencer marketing, and 80% report influencer marketing to be effective. Influencer marketing can be broadly defined as marketing through the use of influencers. Influencers refers to individuals that have the ability to influence the perception and decisions of others. Is influencer marketing suitable for SMEs to implement? You may question how suitable influencer marketing is for small businesses, after all, aren’t influencers expensive to work with? However, this might not be the case, this is because, just like every other type of marketing tactic, you are the one that decides the budget of the campaign...

RAMADAN 2020: 5 Low Cost & Effective Strategies to Succeed

Ramadan has been a crucial period for marketers, business owners and SMEs to connect to Muslim Shoppers. However, some challenges will arise for SMEs alike, given the spread of COVID-19 and its impact on society. So what should SMEs do to have a memorable Ramadan 2020? While we realise that a slowdown in sales and traffic will be a strong possibility, smarter and low-cost strategies that also can translate into long-term success will be the best route, which we have listed below: 1. Run Lower Cost Ads on A Lower Budget Big advertisers are scaling down digital ads across Facebook, Google, Instagram and others which reduces competition to reach consumers – huge opportunity for SMEs to market their businesses at a lower cost. Driving sales and traffic for your business at a key per...

5 Strategies that Retailers can Adopt to Survive the COVID-19 Storm

Current Situation News of the adverse effect of the novel coronavirus (COVID-19) outbreak on Singapore retailers has been hitting the front pages of dailies and social media feeds. The retail sector has just experienced its worst year since 2013, with more challenges to come as the full impact from COVID-19 unfolds. In December 2019, retail sales dropped 3.4% year on year, higher than the forecast of a 2.5 % decrease by economists. The fragility of retail sales and the COVID-19 outbreak are a double whammy for retailers in Singapore. As the alert level of the disease was raised earlier this month to DORSCON Orange, consumers are taking precautionary measures which has led to reduced visits to the shopping malls and a drop in discretionary spending. In addition, revenue from tourists has de...

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...

Lessons from the Dolce & Gabbana Backlash in China

Dolce & Gabbana products are being shelved by Chinese e-commerce sites amid a spiraling backlash from their advertising campaign. Celebrities and netizens have been quick to label the ad as “racist” and “insensitive” to the Chinese community. The ads, released earlier last week, were meant hype up an upcoming fashion show in Shanghai. Featured in the ad was a Chinese woman struggling to eat pizza and pasta with chopsticks, sparking criticism from viewers. Further adding to the fiasco were screenshots that were circulated online – those of a private conversation, where brand designer Stefano Gabbana made a reference to “China Ignorant Dirty Smelling Mafia” while using the smiling poop emoji to describe the country. The brand denied their involvement, stating that their account was...

How Retailers In Singapore Can Deal With Serial Returners

Serial returners are making headlines as they are being banned from Amazon, and other major US and UK stores are set to follow this policy. Compared to retailers in Asia, retailers in the US and the UK have generous returns and refunds policy for items purchased, and a growing number of these customers have taken advantage of such returns policy. While not all customers who returned their items purchased are banned, the focus is on ‘serial returners’ – customers who often buy items and return them, either as frequent returns or as bulk returns. Is banning customers a good idea to begin with? 60% of US and 45% of UK retailers are considering to impose a lifetime ban on serial returners. Retailers have taken customer returns as a serious concern given that they stand to lose a lot of m...

Why the Retail Sector in India is a Trillion Dollar Industry

The retail industry is one of the key pillars of the Indian economy that strengthens GDP growth and helps millions to gain employment. The Indian retail sector was valued at USD$672 billion in 2017, and is expected to reach USD$1.3 trillion by 2020. There are several factors that have contributed to this exponential growth. 1. Increase in Consumption by Consumers Private consumption is the measure of money spent by the customers who belong to a country to purchase services and goods. It is also known as customer expenditure. It accounts for more than half of India’s GDP and hence helps in leading GDP growth in India. The equation is simple, the more you buy, the more would be the profit made by retailers, and hence more money will be in the rotation. The money spent by a consumer is used b...

Key Trends Every Filipino Retailer Must Know Before 2018’s Christmas Shopping Season

Christmas, the biggest shopping season of the year, and e-commerce festivals like Black Friday and Cyber Monday spur the retail binge in the Philippines. This makes it the perfect time for consumers to scout out deals or finally buy those big-budget items. Take a peek at how Filipinos will be searching and what they’ll be searching for this upcoming shopping season. Q4 is peak shopping time in the Philippines as e-commerce festivals and Christmas spur on the retail binge. Google is a key companion on this journey. Read on to find out what captivates consumer interest at the height of the festive season. Online search complements the offline purchase journey. The growing rate of searches for apparel, accessories and electronics indicate that people turn to Google for inspiration and informa...