4TH QUARTER 2018
World News
PHILIPPINE RETAILING
Jack Ma to step down
in 2019, Daniel Zhang
to become Alibaba
chairman
Jack Ma, the co-founder and chairman of
China’s largest e-commerce firm Alibaba
Group, will step down as chairman on
Sep 10, 2019, according to Alibaba.
Current Alibaba chief executive Daniel Zhang will
replace him as chairman, while Ma will complete
his current term on Alibaba’s board of directors
following the company’s annual general meeting in
2020.
Jollibee London debut draws thousands
The opening of the first Jollibee branch
in London drew queues of expat Filipinos
who braved the autumn chill overnight to
be among the first to savor Chicken Joy
and burgers.
London store demonstrated the depth of customer
loyalty to the brand which was helping the company
reach its ambition of expanding all over the globe.
He wants Jollibee to one day become the world’s
largest fast-food operator.
According to reports, “thousands” of Filipinos
visited the Jollibee London restaurant, located in
Earl’s Court. “Today, we are at number 11 or 12, depending on
[our] stock price. To achieve that dream, we will
require an aggressive expansion coming from
strong organic growth and strategic acquisitions.”
Ernesto Tanmantiong, CEO of Jollibee Foods, said
at a press briefing on the site that the crowds at the Inside Retail Asia, 10/23/2018
Not delivering on
customer experience
costs retailers in Asia
Nearly two-thirds (63%) of consumers in
Asia will no longer shop with a retailer
after just one poor customer experience,
according to a research study by
Tofugear,
in
partnership with
Rakuten Insight.
“The connected consumer in Asia is empowered
and not afraid to look elsewhere when their needs
are not being met. Retailers need to understand
that they often only have one chance to get it right,”
according to Philip Wiggenraad, Head of Research
at Tofugear.
Fifty-nine percent of consumers in the region
prefer to shop online rather than in stores. China
led the way (88%), while markets such as Hong
Kong and Singapore (both 51%) were more evenly
split in their preferences between online or stores.
Ma relinquished the role of chief executive in 2013.
Zhang, 46, has been in the job since 2015 after
serving as chief operating officer and is known as
a key architect of Alibaba’s Singles Day, the Nov 11
event that has become the world’s largest online
shopping event.
“Under his stewardship, Alibaba has seen consistent
and sustainable growth for 13 consecutive quarters...
Starting the process of passing the Alibaba torch to
Daniel and his team is the right decision at the right
time,” Ma said in the letter.
Zhang will also retain the CEO title, the company
said.
Ma, who co-founded Alibaba in 1999, is one of
China’s richest people with a net worth of more
than US$40 billion, according to Bloomberg. The
company has grown to have more than 66,000 full-
time employees.
Channel News Asia, 09/10/2018
While millennials are
the most prolific online
shoppers, with over half
(55%) doing so at least once
a week, Gen Z also has a
definite lean towards the
online channel.
Among 6,000
shoppers across 12
countries in Asia, the
research underlines
the importance
of delivering on
experience for
retailers.
Top frustrations with
stores included out of
stock products, long
checkout queues and poor staff service. When it
comes to online shopping, consumers were turned
off by high shipping costs, inaccurate product
information and slow fulfilment speeds.
Ma, who turned 54 this year, said in a letter released
by the company that he is staying on as executive
chairman for 12 months to “ensure a smooth
transition”.
Respondents
to
the
survey showed a strong
willingness to engage
with store technologies
in order to make their
shopping journey more
frictionless.
Two-thirds (65%) would use their mobile phone for
self-checkout, while 62% were open to using apps
in stores as part of a connected retail experience.
Tofugear PR, 11/19/2018
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