Commentary

A new reality bites as retail grapples with consumer recessionary mindset

CEOs globally have been forced to adapt to a new reality of constant disruption and uncertainty. Just as economies saw growth surges when emerging from the COVID-19 pandemic, many were plunged back into a state of slower growth, driven by geopolitical tensions, inflation and higher interest rates. In Asia-Pacific, there is consensus among CEOs that a downturn is near, if not already in effect. According to the EY CEO Outlook Pulse, 99% of CEOs are actively planning for a downturn scenario, with a majority (72%) preparing for a severe downturn in the region.

Commentary

A new reality bites as retail grapples with consumer recessionary mindset

Commentary

Why Athleisure's Pulse is Racing in Southeast Asia

When COVID-19 disrupted our lives a few years ago, consumers swapped their skinny jeans and trouser suits for comfy leggings and joggers and haven’t looked back since. Athleisure has taken the world by storm, and consumers in Southeast Asia love it.

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The Unspoken Expectation From a Consumer With a Full Shopping Cart This Holiday Season

With Asia’s inflation rate seen to soar to 4.5% in 2022, consumers have become more mindful of their budgets and spending priorities. While decreased discretionary spending spells bad news for retailers, the holiday season provides a window of opportunity for brands looking to recover from the sales slump in the past quarters – if they know how to connect and engage with consumers the right way.

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What to Expect in the Retail Revival?

As Singapore tentatively eases COVID-19 restrictions, the Lunar New Year tunes and décor may signal a returning to life for in-store retail. This should be exciting news for many brick-and-mortar retailers and consumers who have been deprived of in-store shopping experience. In a recent Sensormatic Solutions study, almost one third (30%) of Singapore consumers said they missed shopping in physical stores.

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Infrastructure-as-a-service: the unsung hero of annual festive sales

As we kick off 2022, e-commerce continues to gain momentum with retailers refining their strategies and upgrading their capabilities to address the ever-evolving landscape. Chinese New Year is right around the corner and other shopping events will instigate fierce rivalry as online and in-store retailers compete to out-perform one another by providing consumers better discounts, more personalised deals, and various payment methods and fulfilment options.

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Rapid transformation brought Asia retailers into the digital age. What’s next for retail tech?

As the holiday season revs up to its climax, retailers have much to celebrate even as they prepare themselves for one final last-minute Christmas shopping spree.

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How has COVID transformed the grocery sector?

The COVID-19 pandemic has had a profound impact on all facets of life, the grocery and retail sector included. Consumers have increased their online interactions with retailers and brands and will continue to do so long after the pandemic is over.

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Gambling on Consumer Trust – The Link Between Customer Loyalty and Ransomware Attacks

Since the first lockdown in 2020, many retailers had to pivot to e-commerce for the first time in a bid to help their businesses survive.

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How can Brands Influence Consumer Buying Decisions by Optimising Online Store Management

A Guide for Brands to Win the Mega Sale Season

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The Changing Face of Grocery Shopping in Singapore

The Covid-19 pandemic has driven the market and led to major shifts in consumer spending in the past 12 months. The grocery sector is one to watch, as more than half (54%) of Singaporeans spent more on groceries in the past 12 months, according to Worldpay from FIS’ 2021 Generation Pay research. The grocery boom is poised to continue, with 9 in 10 consumers expecting to spend the same or more on groceries in the upcoming year.

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Riding the Biological Cycle: How Forest Fibre can Drive the Circular Economy

If it sounds like we’re going around and around in circles, we are!

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Finding the silver lining in Singapore’s retail story

To say that the retail sector in Singapore has been hard hit over the past year will be an understatement.

Commentary

Immersive visual experiences the key to in-store retail recovery

Across the globe, COVID-19 interrupted almost everything in the physical world with some activities and sectors saved only by digital. The technology players could bring new advantages and opportunities as business operations and client engagements all migrated successfully online. Inevitably, the retailers in mega malls and hospitality sectors faced the most significant challenges with numerous players either ceasing their operations or had to shift to a virtual alternative.

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Shedding new light on excess inventory

Many retailers, especially fashion retailers, are stuck with excess amounts of inventory meant for their stores over the pandemic. However, with the high seasonality of fashion products, retailers are now being faced with ageing inventory and cash tied up in stock that is becoming obsolete.

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The ‘technology’ shots that stores need to level up customer experience

Stores have always been at the epicentre of retail disruption, be it the onslaught of digital or the recent pandemic. Despite ominous predictions, stores have risen like a phoenix to cater to shifting business landscapes and shopper behaviours. Retailers who view their stores through a new lens will realize endless possibilities because:

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The Seven Dictums of a Future Commerce Strategy

Modernization of commerce has emerged as a fundamental need for the future of retailing.

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Rebuilding the retail industry on trust and security

It is a tough time for the retail industry. 2019 saw retailers struggling to make ends meet as sales fell consecutively for seven straight months. Meanwhile, the year 2020 has brought COVID-19 and widespread lockdowns that may well be the death knell for brick-and-mortar retail businesses.

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