ByteDance - TikTok’s Parent’s Financial Expansion Objectives: Where Does Union Mobile Pay Acquisition Fit?
David Zhang
In April 2024, ByteDance was reported to acquire Union Mobile Pay (UMP) for CNY1.4 billion (USD200 million), pending regulatory approval. ByteDance operates popular social media and commerce platforms (TikTok and Douyin). This article analyses its strategic objectives of financial expansion, and the key threats and opportunities in relation to financial industries. UMP is considered to be a key chess piece of the game.
What's Next for Coffee Shops in Southeast Asia
Nathanael Lim
Renowned coffee chains from China and Kenangan Coffee in Indonesia have entered Singapore as a stepping stone for their international expansion. The strategy to enter Singapore is attributed to its status as a financial hub, as well as its visibility for international investors leading to future expansion. At the same time, local consumers are sophisticated, open to trying new flavours, and are willing to spend for their daily caffeine fix.
Analysing Inbound Travel Payment Experience in East Asia's Key Destinations – Part II
David Zhang
In the first article about inbound travel payment experience, insights in Japan and Taiwan China as well as key partnership developments were discussed. In this second article, the analysis focuses on mainland China and Hongkong SAR (special administration region) China, as well as the key opportunities for travel payment development.
Analysing Inbound Travel Payment Experience in East Asia's Key Destinations – Part I
Prudence Lai
Fast, secure and frictionless payments can lead to a great travel experience. Conversely, slow, insecure and problematic payment can impact the overall trip severely, such as leading to booking failures, fraud and scams, and so on. In this two-part article, the authors analyse their own leisure and business travel payment experiences in key markets in East Asia.
Enhancing Loyalty Through In-Store Innovation: Five Key Trends from Supermarket Trade Show 2024 in Japan
Sachi Kimura
The 58th Supermarket Trade Show 2024 (SMTS2024) was held in February 2024 in Tokyo, Japan. Organised by the National Supermarket Association of Japan (NSAJ), the exhibition has a reputation for fostering connections among diverse stakeholders in the grocery sector. In addition to presenting on the topic of customer loyalty during the event, Euromonitor International has identified five pivotal trends to shape the future of customer loyalty within the grocery retailing space in Japan.
Key Trends Shaping Food in Asia: 2024 and Beyond
Emil Fazira
Across 2018-2023, the Asia Pacific region saw polarised growth rates in packaged food sales across markets. This was largely due to economic challenges, the volatility of the industry’s supply chain and demand during the pandemic years.
Growth Opportunities for Consumer Appliances in Asia Pacific
Jason Tjiptadi
Consumer appliances is expected to grow in 2024 after a slow two years when sales were heavily impacted by inflation. Momentum will carry-on for the next five years, supported by growing middle-income households, a fast-growing economy, and low possession rate. This will be driven by three key forecast drivers: Space, Smart Home, and Sustainability.
2024 Consumer Trends in Asia and the Impact on E-Commerce
Rabia Yasmeen
Consumers tend to tighten budgets in the face of economic uncertainty and look to get the best value from their everyday purchases. Tech-savvy Asian consumers utilise online shopping platforms for value visibility through price comparisons and online reviews before purchases.
Beyond Tradition: The Blooming Market of Men’s Grooming in Asia
Yang Hu
The evolution of self-care among men, with factors such as societal change and growing interest in skin care and fragrances, is contributing to more male consumers looking beyond the traditional men’s grooming category for beauty and personal care products.