Tag: E-commerce

Manila, Philippines – The Philippine-based e-commerce, Konstruk, has launched its online platform that allows users to make online transactions for home improvement and construction supplies.

The platform, dubbed as ‘the first e-hardware ng bayan’, which translates to ‘the first e-hardware of the city’, was built on the realisation that while many businesses have transitioned online, the construction sector has not been able to fully do so. Moreover, the lockdown brought by the pandemic emphasised the importance of having an online presence. As the construction sector was not spared from the losses inflicted by the pandemic, small to medium businesses were amongst those who received the heaviest casualties, especially with the absence of an online platform.

With this in mind, Konstruk seeks to promote business continuity in the construction and home improvement sector. The digital marketing platform will help community hardware stores, wholesalers and distributors, and manufacturers of construction materials, including home appliances and furniture, become part of the online business ecosystem to promote new products and push their inventory through the platform.

In addition, the customers can now conveniently shop at Konstruk website and app and choose from a wide range of products. They are also assured that their transactions are reliable and safe as payment methods such as the Metrobank payment gateway system and Gcash are available.

Rommel Bulalacao, Konstruk’s founder and CEO, shared that the majority of the merchants from the construction sector, especially the MSMEs, are still brick-and-mortar stores or do not have sufficient capabilities to bring their business online

“Konstruk is committed to helping the industry build back better. As the first e-hardware ng bayan, we will continue to innovate and improve our service for the benefit of our partner merchants and customers,” said Bulalacao.

Singapore — Una Brands, Singapore-based e-commerce aggregator, has struck its first strategic alliance with South Korean domestic counterpart, KlickBrands. Together they will invest KRW₩120b, or US$100m, in the countries’ e-commerce market over two years.

The alliance will link Una Brands’ global cross-border network with KlickBrands’ understanding of the South Korean market. Together, they will help grow the local e-commerce brands domestically and into Southeast Asian markets namely Indonesia, Malaysia, and Thailand. Una Brands and KlickBrands will scale at least 25 or more profitable e-commerce brands, across categories such as health, K-beauty, baby, pets, and home and living brands. South Korea was identified as a key market for Una Brands, being the fifth-largest e-commerce market globally with an annual growth rate of around 14% and an expected market value of US$250b by 2025.

Kiren Tanna, co-founder and CEO of Una Brands, said, “Of all the local e-commerce aggregators, we chose KlickBrands as our strategic partner because of our shared vision, mission, and values. Their hands-on approach to working with the brands they acquire mirrors our own work ethic. This will make KlickBrands an instrumental partner in strengthening Una Brands’ presence in, and understanding of, the South Korean e-commerce landscape. In return, KlickBrands will benefit from our robust operational, technological, and acquisition capabilities.”

KlickBrands, founded in 2021 by entrepreneurs and venture capitalists Brian Hyun and Jung Ho Joo, is focused on creating opportunities for brand owners to accelerate their growth across eCommerce platforms and markets.

Brian Hyun, co-founder and CEO of KlickBrands, commented that the partnership with Una Brands bears testament to the growing possibilities for e-commerce brands in South Korea.

“When Una Brands approached us, we immediately recognised that their capabilities were a great match for our own, particularly with the strong team that they have built, their expertise in e-commerce in the Asia Pacific (APAC), and their global distribution network. We bring to the partnership local e-commerce expertise, as well as the understanding and empathy of local brand owners’ mindsets. We are very excited to have the backing of Una Brands as we continue to reach out to more brand owners in South Korea to support their next phase in expansion,” Hyun said.

Una Brands, an e-commerce aggregator in APAC that comprises a team with a wealth of experience behind it, has established its presence in key markets namely Singapore, Australia, India, China, Indonesia, Malaysia, and Taiwan in under a year, with South Korea being the next strategic market for the business’ expansion and development. Since its launch in 2021, Una Brands has to date acquired over 20 firms, with the earliest brands seeing over a 50 per cent increase in sales and profits.

Mumbai, India – Value retail chain 1-India Family Mart has successfully raised INR500m in its series B funding, which will be used in setting up an indigenous e-commerce business, thereby becoming omni-channel players in the sector. In addition, they will be also fueling inorganic growth as the group plans to double the number of stores in the next 2 years.

Said funding round was led by Dubai-based Gulf Islamic Investments (GII). The retail group had raised its first institutional round of funding from Carpediem Capital in 2018.

The retail chain is aiming to tap into India’s forecasted retail value of INR51t in 2019, growing at a CAGR of 9% to 11%. An increase in the market share of value e-retailers has demonstrated better profitability and value creation within the Indian retail landscape. Value retail constitutes 60% of the overall apparel retail market.

Jay Prakash Shukla, co-founder and CEO at 1-India Family Mart, said, “We are excited to raise a fresh funding round from GII which will significantly boost our expansion plans, strengthen our retail presence and drive growth trajectory of the group. This fund raise is quite sizable for the retail sector in recent times. As we build a scalable business, we needed like-minded investors that could guide us on nurturing an IPO-able group for the near future.”

Meanwhile, Ravinder Singh, co-founder and COO at 1-India Family Mart, commented, “We are increasing our geographical footprint and developing our own private label in the fast-growing women’s apparel category. We are setting up our owned online omni-channel to further penetrate the market and reach our discerning customers. Moreover, having a strong online presence will further consolidate our position in the industry.”

Vietnam – Popular social media platform Facebook has gained new grounds in Vietnam as an alternative to e-commerce services, according to data from marketing research company Decision Lab.

According to their report, Facebook Commerce grew by 2% and 4% for Gen Y and Gen Z respondents respectively during Q4 2021. In addition, around 31% of Hanoi citizens picked Facebook as their choice for e-commerce services. This figure marks a 11% points increase among consumers from Hanoi compared to Q3 2021. 

The report also noted that Facebook Commerce was also utilised by 9% more consumers from Ho Chi Minh City and other key cities such as Da Nang, Nha Trang, Hai Phong, and Can Tho in Q4 2021. In contrast, throughout the rest of Vietnam, Facebook commerce only grew by 2% points, standing at 24% in this time period.

Despite its popularity as an e-commerce platform, Facebook is losing ground as a social media platform in the country. The platform lost 11% of its position as Vietnamese’s primary app in Q4 2021–a continuation of a negative trend starting early 2021. Worse, Facebook seems to be losing Millennial and Gen Z users, who are increasingly favouring other platforms such as Zalo and TikTok.

“The general rise of Facebook as an e-commerce platform reflects Facebook’s push for commercial activities. In Vietnam, consumers can trade goods through not only Facebook Marketplace, but also Facebook groups, shops’ pages, and individual merchants,” the report stated.

Bengaluru, India – Fast-growing social e-commerce start-up DealShare in India has announced that it has recently raised US$45m as part of its series E funding round from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), which takes the company’s total funding to US$393m and valuation to US$1.7b. 

DealShare is a rapidly growing social commerce company focused on catering to new-to-internet and value-seeking users. It offers low-priced essentials coupled with a gamified, fun-filled, and virality-driven shopping experience to make it easy for first-time internet users to experience online shopping.

The company said it will use the fresh funds to power product innovation and technology to support its rapid growth and expanding customer base.

Vineet Rao, founder & CEO of DealShare, said that the company aims to democratize online shopping for Bharat users with unmatched service and experience by developing innovative products and tech solutions

“We are thrilled to welcome ADIA as a shareholder as part of our next phase of growth. The support that we have been receiving from the investor community is very encouraging. It is a testimony of the confidence in DealShare’s vision, business model, and an acknowledgement of the growth we have been exhibiting. In a span of just 3 years, we have scaled to over 10 million customers and over 100 cities across 10 states,” said Rao. 

Sourjyendu Medda, DealShare’s founder and chief business officer, shared that it is likely to hit US$3b of gross revenue run rate in the next 12 months and will be tripling its geographical presence, investing heavily on acquiring top-notch tech talent, and building world-class supply chain infrastructure to aid said growth.

The company was founded in 2018. In January 2022, DealShare raised $165m in the first close of its Series E fundraise. The company welcomed Dragoneer Investments Group, Kora Capital, Unilever Ventures, and continued commitments from its existing commitments investors, Tiger Global and Alpha Wave Global (Falcon Edge). 

Jakarta, Indonesia – Southeast Asia’s used car e-commerce platform, Carsome, has appointed Andrew Mawikere, former president of technology company Warung Pintar, to be its new CEO for the Indonesia team.

Bringing more than 14 years of experience, Mawikere is a seasoned business executive with previous careers in Indonesia, the United States, and Singapore, as well as an experienced entrepreneur where previously he and other founders started their own company, a marketplace for B2B e-procurement called Mbiz. 

Aside from his role at Warung Pintar, Mawikere has led Bizzy Digital, a business-to-business (B2B) platform for integrated supply chain logistics and distribution. He has also previously held a leadership role at Astra International in the corporate strategy and business development department. Moreover, Mawikere has financial experience from his tenure in investment banking and multinational finance company JP Morgan and global investment company Temasek. 

In his new role, Mawikere will be a major force in ensuring Carsome Indonesia’s position as a market and industry leader in the country. He will also be responsible for driving strategic initiatives, and developing Carsome’s fast-growing business in Indonesia.

Commenting on his new appointment, Mawikere said that he feels grateful and happy to be a part of Carsome’s journey in digitising the process of buying and selling cars that are still conventional in Indonesia.

Mawikere said that he carries the vision to make Carsome Indonesia a user and stakeholder centred organisation with an emphasis on developing, investing, and empowering its employees. He is determined to make Carsome a leader in Indonesia by combining effective business and branding strategies supported by the power of technology and data.

“I am optimistic that Carsome is on track with a strong position, especially with the recent acquisition of Southeast Asia’s leading automotive listing and content platform, iCar Asia Limited. Relying on our core values, namely trust and transparency, we can create a more integrated automotive ecosystem that will benefit consumers and provide added value to the industry,” added Mawikere.

Meanwhile, Eric Cheng, Carsome’s co-founder and group CEO, shared that the appointment of Mawikere was a form of the company’s commitment to continue to grow in key markets such as Indonesia. 

“Joining Andrew will increase the strength of the team in Indonesia. With his combined financial and technological experience, we look forward to the breakthroughs Andrew will bring to enhance business growth and help Carsome’s mission of setting new standards for buying and selling cars,” said Cheng.

Jakarta, Indonesia – The e-commerce market in Indonesia is expected to grow by 23.8% in 2022, and will be valued at IDR420t (around US$30b), according to insights from data and analytics company GlobalData.

According to the data, e-commerce payments in Indonesia are forecasted to rise further at a compound annual growth rate (CAGR) of 22.0% between 2021 and 2025, to reach IDR753t (US$53.8b) in 2025. Part of the forecasted growth’s reason is due to factors such as rising Internet and smartphone penetration, the growing middle class population, and proliferation of online merchants and payment tools.

In addition, the insights also noted that the rise in local e-commerce is also supporting the emergence of new payment models such as buy now pay later. The Indonesian buy now pay later market is crowded with several players including banks and payment service providers offering this service.

Nikhil Reddy, payments senior Analyst at GlobalData, commented, “Online shopping is popular in Indonesia, a trend that has become more prevalent amid the COVID-19 pandemic. The recent outbreak of the Omicron variant has further led to the resurgence of new cases, the highest in the last six months, which is likely to drive online shopping.”

He added, “The COVID-19 outbreak has accelerated consumers’ shift from in-store to online payments. The uptrend in e-commerce sales is likely to continue over the next few years, supported by government initiatives, growing consumer preference and improvements in payment infrastructure.”

Bengaluru, India – Meesho, a local internet e-commerce platform, has launched its newest campaign, centred around the message of Loon Ya Na Loon, or the consumer dilemma of choosing one item over the other, and Sahi Sahi Lagaya Hai or the appeal of having the right price on the platform.

In separate 30-second TVCs, we see three different consumer segments – women, men and young adults, where the campaign highlights Meesho’s unmatched value proposition of offering quality products at the lowest prices. In addition, the campaign also tackles the fact that users fulfil multiple desires and for many value-seeking consumers, shopping has become an exercise of choosing one desire over another.

Conceptualised by agency DDB Mudra, the campaign is also focused on showcasing the protagonist’s journey from contemplation to a no-compromise shopping experience on Meesho.

Megha Agarwal, head of growth at Meesho, said, “When consumers want to purchase something they desire, the guilt or need to cut down on other expenses often crop up, making them prioritise one desire over another. The core objective of the campaign is centred around resolving the ‘Loon Ya Na Loon’ predicament. At Meesho, we are helping millions fulfil their desires by providing them a wide selection of quality products at the lowest prices.”

Meanwhile, Pallavi Chakravarti, creative head for West at DDB Mudra, commented that through Meesho’s appeal of putting up the appeal of a right price, the campaign result is a breezy yet insightful campaign which they believe will resonate with their target audiences around the country.

“To buy or not to buy – that is the question. Which bargain-hunting, value-conscious Indian shopper has not hit the pause button and wondered about all the demands on her/his budget, before picking up something? It is this behavioural truth that we played on to land a simple message – Meesho offers prices so low, you’ll never have to choose between one thing or the other again,” Chakravarti said.

The campaign will air on major TV networks such as in addition to YouTube, and OTT platforms. Each film is shot in three zonal master languages – Hindi, Tamil, and Bengali and further amplified in other regional languages.

New York, USA – AiTrillion, a global software-as-a-service (SaaS) marketing platform for e-commerce sellers, has announced the appointment of Sudiptaa Paul Choudhury to the role of global chief marketing officer. Choudhury brings into the company over a decade of marketing industry experience, having worked with Intuit, Tally, Ericsson, Oracle, HP and other notable organisations.

Her experience within the marketing industry revolves around her experience of leaning towards market research, competitive insight, customer and product marketing, digital marketing, brand-led content strategy, creation and execution, and achieving the results efficiently.

Speaking about her role, Choudhury shared that SaaS market & Artificial Intelligence (AI) is where the future is and currently one of the most revenue earning segments globally. For her, SaaS is empowering businesses with the highest contributions towards enterprise resource planning (ERP), e-commerce apps, and CRM.

“SaaS & AI is the future and is currently one of the most revenue earning segments globally with highest contributions towards ERP, Ecommerce, CRM. I’ve been hired to take the brand to the next level,” she shared.

The company offers a suite of products and services such as AiBrandInsights and AiConsumer Insights to help empower businesses of all sizes to beget success with an accessible, intelligent, automated sales and marketing platform that is powered by AI in its true sense.

Ireland – Ireland-based e-commerce financing and growth platform, Wayflyer, has secured a Series B funding round of US$150m, which brings the platform’s post-money valuation to US$1.6b, making it the country’s sixth unicorn. 

The all-equity round was co-led by DST Global and QED Investors, as well as three new investors, namely Prosus, Madrone Capital Partners, and J.P. Morgan. Existing investors Left Lane Capital and Guillaume Pousaz also participated in the funding round.

The new funds will be used to continue building Wayflyer’s presence in current territories, expand into new territories across Europe and Asia, further expand its product range, and hire the best talent globally. Wayflyer will also provide billions of dollars to e-commerce merchants in the coming years.

Aidan Corbett, Wayflyer’s CEO, shared that Wayflyer was launched in April 2020, and has been relentlessly focused on helping their customers drive growth and removing the barriers that limit their potential.

“Our Series B round will help us build our offering to customers, expand into exciting new territories, and hire more world-class talent. We’ve only just scratched the surface of what’s possible here, and with an incredible team all working together to solve the biggest challenges in e-commerce, I couldn’t be more excited for what’s ahead,” said Corbett.

Wayflyer helps ambitious e-commerce businesses unlock their true potential, solving some of the critical challenges that have long stifled growth. Combining access to capital and insights that help e-commerce businesses deploy that capital effectively, Wayflyer acts as a trusted growth partner to many merchants worldwide. 

Tom Stafford, DST Global’s co-founder and managing partner, shared that they are impressed by their commitment to building the best products for their customers and proactively helping their customers grow via analytics, practical insights and attractively priced funding. 

“We are pleased to continue supporting the team, as Wayflyer expands globally to provide innovative financing and growth solutions for e-commerce businesses around the world,” said Stafford.

Meanwhile, Sandeep Bakshi, Prosus Ventures’ head of investments for Europe, said, “The pandemic has accelerated e-commerce adoption globally and Wayflyer is transforming financial services for e-commerce businesses wanting to scale quickly, helping them to gain access to capital, inventory and insights at attractive terms.”