Scaling and Growth Hacks

How South Korea Became The Skincare and Beauty Capital of The World

The South Korean beauty scene has taken the global skincare and beauty industry by storm. Known as K-beauty, South Korea has developed a sort of cult-like following. Youtubers and Social Media Influencers are also raving about the benefits of these K-beauty products. The Korean beauty market is among the top 10 around the world, with an estimated worth of over $13.1 billion in sales in 2018, according to Mintel, a global market intelligence agency.  Their driving factor for their rapid growth is due to ‘innovation’ being at the forefront of their branding strategy. Beyond just another marketing strategy, South Koreans are constantly striving to reinvent their products. Katie Thomas, editor of Marie Claire says,  “South Korea’s beauty industry is ahead of the rest of the world b...

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. ...

The Importance of Marketing Your Beauty Spa Business in Malaysia

As we all know, the heart of most businesses if not all, lies in their marketing. Marketing is the process which introduces and promotes your product to your potential customers. Without marketing, your potential customers would not know of the services you are offering. As such, marketing is no less important for beauty spa businesses too! Finally made the Himalayan Salt Stone Massage available in your spa? Great, but have you got the word out yet? In Malaysia, the beauty spa business scene calls for more action in terms of its marketing efforts. Although the industry is rapidly growing, many people have yet to be educated about the industry. Myths need to be debunked and attitudes changed, to enable more locals to better embrace the industry. Spa business owners, it is all the more relev...

Branding Ideas for Beauty Spa Business Owners in Malaysia

For just about any business, branding strategy is a very important component. In Malaysia, the flourishing beauty spa industry is fast gaining traction among the locals. As such, competition is growing tighter, and it is all the more important for business owners to understand the desired brand image of target customers. Beauty spa business owners, you will have to place your focus on your intangibles such as reputation, client care and relationship with clients in order to build your brand. According to the Global Wellness Institute (GWI), which released the 2016 Global Wellness Economy Monitor last year, the worldwide wellness industry grew 10.6 percent to US$3.72 trillion (RM15.2 trillion) from 2013-2015, making it one of the world’s fastest-growing and most resilient markets. For the b...

5 Reasons Malaysian Beauty Businesses Need to Know Their Competitors

For your business to grow, constant learning and adjustments are necessary. What are among the most important things you should be learning for your business to remain competitive? It will be none other than your competitors. Knowing who they are will help you distinguish your business from theirs and to communicate with your target market. What should you know about your competitors and why is it important? Here are 5 reasons why you need to know about your competitors: 1. Helps You Identify the Type of Competitors You Have Your competitor will be any business that deters a potential customer from choosing you. They often take two primary forms, they could either be your direct competitor or indirect competitor. Direct competitors refer to businesses that have similar products and service...

Why Your Beauty Store Location Matters in Malaysia

Choosing a store location is an important decision to make during the early stages of your business establishment. This is especially true for brick-and-mortar beauty stores. Much of their business’s ability to generate sales and make a profit is largely influenced by their store’s location. Here’s why your beauty store location matters in Malaysia! 1. Accessibility You will clearly want to choose a location of your beauty store where it will be easily accessible, either in a mall or shop lots. Your store’s location should be ideally nearby lots of traffic (both foot and four-wheeled variety) and as well as parking availability. Does your beauty store require your customers to search for the location? Or is it easily seen from the main road or on the way to their homes? Is it a...

Why Every Beauty Spa Business Owner in Malaysia Needs a Business Plan

If you have decided to open a beauty spa, writing a business plan will be your primary step. Not all businesses share the same business plan. The one size fits all approach does not work because every business focuses on different considerations. A spa in particular will definitely have a different set of challenges from a F&B business. This is why a business plan is not just about outlining goals and methods of achieving them but is also about understanding your niche market. Now, how do you come up with a good business plan? Beauty spa business owners, here’s exactly what you need to include in your business plan to run a successful beauty spa in Malaysia! 1. Create a Summary of Your Business Plan In the first section of your business plan, you will need to provide a summary of...

How Street Food Hawkers in India Have an Advantage Over Restaurants

Many people dream of being entrepreneurs or having their own business in India but only a few of them give some serious thought to becoming street food hawkers. People who consider street food hawkers to be poor people and have no skills or talent are mistaken because street food is liked by millions of Indians and the potential of it is expanding day by day. Entrepreneurs also think that having a restaurant is better than being a street food hawker because you get more respect and earn more money. Though this was true a few decades back, it’s not true anymore (to a great extent) because street food hawkers are earning quite well these days and earn respect if they serve quality food at affordable prices. So just how do how do street food hawkers in India have an advantage over restaurants...

Filipino Retailers: 3 Takeaways from Zara’s Success

There are few key takeaways from Zara’s success that Filipino retailers can incorporate into their business. The first thing to note is that electronic commerce is rapidly gaining traction among consumers in the Philippines. Thus traditional brick-and-mortar retailers are in the best position to take advantage of this revolution, according to the Philippine Retailers Association. However, with e-commerce providing readily available product information, from price to reviews, this could prove challenging for physical retailers to remain competitive. So, what can Filipino retailers do to remain their foothold? One great way is to learn from one of the world’s largest fashion retailer, Zara! Zara has 2,200 stores in 96 countries.  They are known for developing new products and releasing...

4 Simple Ways Stores in Malaysia Can Unlock Cash in the Inventory

More often than not, stores find themselves storing excess inventory. Excess inventory is when you have an overstock of merchandise or products in your store. There are many reasons why this can happen. Common causes of this typically include: No buying plan for the arrival of fresh merchandise. Stocking large quantities of merchandise based on unrealistic sales plans. Buying merchandise on the basis of a good deal but are not actually needed. However, if you are unaware, you should take note that you could be sitting on a pile of excess cash! And why is that so? Well, an excess in inventory or old stocks can still be liquidated. When these old  and excess stocks are sold, they are naturally converted into excess cash for your business! So, just how can you, as a business owner, unlock cas...

How Japanese Retailers Drive Store Visits in Malaysia

The Japanese culture has always been held with high regard, be it their etiquette, business or technology advancements. Japanese retailers have been at the top of their game for years now. Driving store visits seem to hardly be an issue for them, while the rest of us here are wondering what their big secret is! In Malaysia, Japanese retail stores typically fall on two extremes. The former would be your sleek, minimalistic and uniformly designed retail stores. Think Muji, Uniqlo, SuperDry, and Koncent. The latter will be your diverse fashioned retail stores with out of the box concepts, such as Isetan, Family Mart, Shojikiya, and Daiso to name a few. So what sets Japanese retail stores apart from other retail stores? How are they able to ‘effortlessly’ drive store visits? Here are 3 ways Ja...

3 Ways Retail Store Owners Can Win, Despite E commerce

The growing trend of brick-and-mortar retail stores making a shift into the digital arena has got retailers wondering whether the future of retail lies online. It cannot be denied that the world is propelling towards digitisation. In the world of retail, there are still many reasons to believe that physical retail stores are not leaving the scene just yet. In order to maintain a competitive edge, a compelling strategy being widely employed by many physical stores is binge acquisition: the buying out of small online retail stores with poor competing potential. Although this discounts brick-and-mortar retail stores from the market altogether, others believe in combining offline and online retail stores. Retail stores that offer the option of purchasing products online and pick-up of products...

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