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7-Eleven Malaysia Third Quarter Net Profit Up 27.6% From Previous Quarter

By
Tan Heng Hong
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Image from 7-Eleven Malaysia

HIGHLIGHTS
• 3Q18 Total sales growth of 1.0% and year to date (YTD) 3Q18 total sales growth of 1.3%.
• 3Q18 Net profit growth of 4.1% and YTD 3Q18 Net profit growth of 13.3%
• Gross Profit Margin continues to improve versus last year.
• Continued store expansion bringing the total network to 2,259 stores.Comments from Chief Executive Officer – Colin Harvey

I am pleased with our net profit growth of 27.6% against the previous quarter. However, this is only the first step in the right direction towards where the organization should be, and there is scope for improvement. I am confident that our strategy roadmap focussed on strengthening the key areas of, assortment, supply chain, operational excellence, store base, and digitally enabling the organization will bear fruit in terms of financial performance, and overall customer shopping experience. I look forward to the challenges ahead in ensuring that 7-Eleven Malaysia remains the customers first choice convenience store. ‘

For the 3rd Quarter ended 30 September 2018

The Group’s revenue for the current quarter of RM568.5 million grew by RM5.4 million or 1.0% against the corresponding  quarter’s revenue in the previous year of RM563.1 million. The growth in revenue continued to be driven by the growth in new stores, higher average spend per customer and better consumer promotion activity.

Gross profit of RM184.1 million improved by RM5.4 million or 3.0% compared to the corresponding quarter in the previous year. This was mainly attributed to the increase in revenue and improvement in gross margin by 0.7% points. The improvement in gross margin was attributed to higher gross profit margins across most categories.

Selling and distribution expenses for the quarter increased by RM6.7 million or 4.0% against the corresponding quarter of the previous year. This was mainly due to new store expansion resulting in higher staff costs, rental costs, store depreciation and maintenance expenses.

The increase in revenue, gross margin improvement and other operating income resulted in the Group’s profit after tax of RM16.8 million, an increase of RM0.6 million or 4.1% as compared to the corresponding quarter in previous year.

For the 9 months ended 30 September 2018

For the 9 months ended 30 September 2018, the Group’s revenue of RM1.66 billion grew RM21.0 million or 1.3% against the corresponding period in the previous year of RM1.64 billion. The growth in revenue was driven by the growth in new stores and consumer promotion activity.

Gross profit improved by RM20.6 mil or 4.0% compared to the corresponding period in the previous year. This was mainly attributed to the revenue growth and gross profit margin expansion of 0.9% points. Other operating income grew by RM7.7 million or 8.2% compared to the corresponding period in the previous year.

The Group’s profit after tax recorded RM4.6 million or 13.3% increased against the corresponding period in the previous year driven by higher profit contribution amongst most product categories and higher other operating income.

Future Prospects

The Board of Directors is of the view that the trading conditions for the next quarter are expected to improve with the anticipated heightened consumer sentiment. We expect to see further improvements in the next quarter by pursuing our core strategy pillars of Operations Excellence, Cost Management and Commercial Innovation.

Mengniu opens Indonesia factory, Yili to buy Thai ice cream maker

By
Tan Heng Hong
-

2019 will be year Chinese dairy companies start deepening their engagement with the Southeast Asia market. Indonesia and Thailand will serve as the springboard into the rest of the region.

On 29 November 2018, China’s dairy giant Mengniu officiated the opening of its 60th dairy plant. The new Mengniu YoyiC Dairy Factory in located is Cikarang, Indonesia. It is also the Chinese dairy company’s second overseas dairy processing facility. The first is located in New Zealand. Construction of the factory in West Java started in March 2018 and was completed less than one year, which demonstrates the speed in terms of the execution.

Producing YoyiC probiotics, yogurt products

According to the press release, the total investment is more than USD 50 million. The factory has a designed output capacity of 260 tonnes a day with a yearly output capacity valued at USD 160 million. The production facility will produce YoyiC probiotics beverage and yogurt products. The YoyiC series will be available in more than 12,000 stores in main cities in Indonesia in December. YoyiC is currently sold in China, Macau, Hong Kong and Singapore with plans to export its made-in-Indonesia YoyiC to Malaysia, Singapore and the Philippines in the near future.

Having a production facility in Indonesia will enhance Mengniu’s competitiveness in the Southeast Asia market.

The Mengniu products in Indonesia will include two YoyiC probiotic beverages (or cultured milk) – original and lychee, two YoyiC yogurt drinks (mango and strawberry) in a cup, and two YoyiC yogurt dessert (blueberry and apple caramel).

Both the YoyiC yogurt drinks in a cup and YoyiC probiotic drinks need to be chilled.

At Hypermart, YoyiC probiotic drink (200ml) is priced at IDR 8,700 and YoyiC yogurt drink in a cup (140ml) at IDR 9,500.

At Hypermart. Photo credit: Minimeinsights.com

New Zealand milk source

The milk used at the factory will come from New Zealand and will be fermented using Danish probiotics, reported Bisnis.com. The initial output is 90 tons a day.

Superbrands Singapore

Mengniu is downplaying its Chinese heritage by focusing on the Superbrands Singapore award it received in the Singapore market as a mark of quality and trust.

HoReCa will also be targeted

Apart from retail, Mengniu has plans to target the hotel, restaurant and cafe (HoReCa) channel with recruitment for the HoReCa sales team still on going.

YoyiC is competing head on with Yakult

The cultured milk market is a challenging market where only a handful of players are able to thrive. Yakult is currently the market leader in Indonesia. OT Group’s VitaCharm used to compete in the same market but has exited the market years ago, leaving Yakult as the dominant player.

Retail store and home delivery sale (ie Yakult Lady) are key distributing channels for Yakult. The ratio of home delivery out of total sales reached 51.2% in 2016, up significantly from 19.4% in 2007. Mengniu may need to embrace the home delivery approach to win the market. With the popularity of food delivery, Mengniu can consider working with Go-Jek and Grab for the regular home delivery of cultured milk drink.

Cultured milk for adults

In Indonesia, cultured milk is often positioned for children, thanks to its small bottle. To expand usage, adults and young consumers can be a new market for cultured milk. We have seen Nutrigen in Malaysia and Betagen in Thailand scoring success with their cultured milk in a larger bottle. Culture milk in Indonesia can innovate by moving in the same direction.

Yili focusing on ice cream

Mengniu’s key competitor Yili, through its local unit PT Green Asia Food Indonesia, is currently focusing on selling its Joyday ice cream in Indonesia. There is a possibility Yili will start introducing yoghurt and milk products into the local market down the road.

Some of the Yili dairy products registered with the LPPOM MUI as of August 2018

Yili to buy Thai ice cream maker – Chomthana

Yili announced on 29 November 2018 that it has signed an agreement to purchase a 96.46% stake in the Thai mass market ice cream and frozen bun maker The Chomthana Co Ltd. Chomthana is known for its Cremo ice cream and private label brands. Its Cremo ice cream are sold in Thailand and in neighbouring Malaysia.

Chomthana revenue in 2017 reached USD 34.38 million with a net profit of USD 3.23 million. First half 2018 revenue stood at USD 18.24 million.

Yili’s inroad into Indonesia and the plan to purchase a controlling stake in a Thai ice cream maker reveals its huge ambition in the Southeast Asian ice cream market.

Bright Dairy has plans for Malaysia, Thailand

Bright Dairy is a late comer to the game. The company first exhibited at Thaifex 2018, followed by having a standalone booth at the Malaysian International Food & Beverage Trade Fair (MIFB) in May 2018 to promote its ambient yoghurt. The company plans to price its ambient yoghurt at a premium similar to the pricing of Yili’s Ambrosial ambient Greek-style yoghurt drinks in the region.

Bright Dairy at MIFB 2018. Photo credit: minimeinsights.com

Krating Daeng maker has 42% of Vietnam’s energy drinks market share

By
Tan Heng Hong
-
Image from https://brandinside.asia

TCP Group, the maker of Krating Daeng (Red Bull), Som Plus, Sponsor, Puriku, as well as “Warrior”, said it has plans to increase its market share in the Vietnam energy drinks market to more than 50% in the coming 5 years, said TCP Group chief executive officer Saravoot Yoovidhya, reported The Nation on 26 November 2018.

At the moment, TCP’s combined share in the local energy drinks market reached 42% with total revenue in Vietnam set to hit THB 10 billion by the end of 2018. Sales have been growing by 25% per year in the past three years.

TCP sees higher regular consumption of energy drinks in Vietnam than in Thailand, which makes the Vietnamese market competitive and highly attractive. According to Saravoot, Vietnamese consumers also tend to consume energy drinks with ice in a glass together with their meal.

Minimeinsights: Such consumption habit makes foodservice an important channel for energy drink sales in Vietnam and food pairing will become an important marketing strategy going forward.

TCP plans to invest THB 4 billion in Vietnam in the coming 36 months to enhance its marketing capabilities. The Vietnamese energy drinks market is worth THB 25 billion, growing at a rate of 6% a year.

Osotspa builds new factory in Myanmar to produce energy drink

By
Tan Heng Hong
-

Thailand’s Osotspa Public Company Limited, the maker of M-150 energy drink, and Loi Hein Co., Ltd., Myanmar’s largest drinking water and beverage business, held a groundbreaking ceremony for the construction of a new beverage production facility located in the Thilawa Special Economic Zone (Zone B) in Yangon at the end of November 2018.

This is Osotspa’s first production facility in Myanmar. The new beverage production facility is located on 83 rai (approximately 132,800 square meters) in the Thilawa Special Economic Zone (Zone B). It will be operated by Osotspa Myanmar Co., Ltd., a joint venture in which Osotspa PCL holds an 85% share and Loi Hein Co., Ltd. holds a 15% share.

The project represents a total investment of 2,400 million baht funded by the proceeds received from Osotspa’s initial public offering (IPO) which took place in October.

Construction of the new plant is expected to be completed and ready for operations in the fourth quarter of 2019, producing Osotspa drinks for distribution in Myanmar.

The new factory will support Osostpa’s growth momentum in capturing a greater share of the retail energy drinks market in Myanmar, which currently stands at 38%. The Thai company expects this new facility to improve its gross profit margin after commencing commercial operations due to increased manufacturing capacity. In addition, Osotspa will further expand our route-to-market and distribution channels to more effectively tap into consumer demand, while simultaneously implementing a strategy focusing on local marketing activities.

RTD energy drink grows in share, new Kratingdaeng Gold launched

By
Tan Heng Hong
-
Image from http://Liputan6.com

The Indonesian energy drinks market fell by 5% in the past three years, said PT Kino Indonesia President Director and Chief Executive Officer Harry Sanusi as reported by Kontan.co.id on 14 November 2018.

He added in terms of segmentation 40% of the market volume comprised powder and the remaining 60% in ready-to-drink liquid format.

More product innovation is needed to put the energy drink market back to the growth phase, said Harry. He is still positive on the energy drinks market because of the large number of consumers in the lower-income bracket.

According to Harry, Kino’s RTD energy drink brand Panther has a 10% share in the RTD segment in 2018.

Nielsen data as of August 2018 shows the RTD energy drink market in Indonesia saw a 10.5% growth, which propelled RTD to account for 41% of the total energy drinks market, up from 34%, reported Tribun Manado.

New Kratingdaeng Gold

New Kratingdaeng Gold

PT AsiaSejahtera Perdana Pharmaceutical, the distributor of Kratingdaeng energy drink, said it has launched Kratingdaeng Gold with a tagline Empower Your Passion. The new Kratingdaeng Gold (250ml) is aimed at the middle class and above, particularly targeting the millennial generation and office workers.

Pin it with Style at 7-Eleven Malaysia!

By
Tan Heng Hong
-
(From left) Colin Harvey, 7-Eleven Malaysia Chief Executive Officer and Lee with the DreamWorks All Stars Pins collection

Kuala Lumpur, 28 November 2018 – The latest loyalty redemption campaign from 7-Eleven Malaysia features wildly popular characters from 4 iconic titles of the DreamWorks world! Have a trip with Alex and friends from Madagascar, get into action with Po and his team from KungFu Panda, enjoy bizarre adventures with Shrek and colour your life with the cast of Trolls!

The DreamWorks All Stars PinsTM come in 31 eye-catching designs, each featuring a piece of the DreamWorks world. From now until 21st January 2019, for every selected purchase of RM5 and above in a single receipt at any 7-Eleven outlet, a program sticker will be rewarded. As a bonus, an additional sticker will be rewarded if the purchase includes a promotional partner product. Customers get to score a free pin by simply collecting 10 stickers or may opt to speed up their collection by topping up an additional RM 6.90 once 5 campaign stickers are collected.

7-Eleven Malaysia CEO, Mr. Colin Harvey said, “We always place our customers interests first and we strive to meet their demands by introducing regular innovative programs and promotions. We are pleased to introduce DreamWorks All Stars Pins™ as the culmination of a great year that has already seen the iconic Minions and Marvel characters making an appearance at our stores. We believe these one of a kind pins will win the hearts of many and our customers can come to expect to be rewarded when they shop with us as we’re Always There For You.”

Ronan Lee, Marketing General Manager of 7-Eleven Malaysia added, “As we close in on the season of giving, these adorable pins are definitely a present worthy of gifting to our loved ones or simply a way to make a fabulous fashion statement as it can be used to accessorize on garments, caps, bags, sneakers and more!. Furthermore, with the ‘Let’s Pin with Style’ online contest, 2 cuddly exclusive XL-sized Po plush toys are up for grabs! Participants simply need to post a photo of them using the pins in the most creative manner on Facebook or Instagram with the hashtags #DWAllStarsPins and #7ElevenMY”.

With the recent introduction of various new and exclusive products such as 7-Eleven Malaysia’s very own Soft Serve ice cream featuring Malaysia’s first ever Ebonylla™ flavour at selected stores to an ever expanding range of fresh food offerings that will suit any discerning palate, additional service providers such as having the convenience of paying PTPTN loan repayments through MOL Pay, 24/7 at any store, daily, weekly and monthly promotions such as its well-accepted Ohsem7 deal of the day, Panaz deals on the 7th and 11th of each month and its signature We’ve Gone Crazy deals, 7-Eleven Malaysia is truly providing convenience, value and plenty of fun to its loyal customers!

7-Eleven Malaysia is the largest stand-alone convenience store-chain nationwide, with more than 2,250 outlets across the country.  For more information on DreamWorks All Stars Pins™, please visit www.7eleven.com.my or follow 7ElevenMalaysia on Facebook, Instagram and Twitter.

About 7-Eleven Malaysia

7-Eleven Malaysia Holdings Berhad through its subsidiary 7-Eleven Malaysia Sdn. Bhd. is the owner and operator of 7-Eleven stores in Malaysia. Incorporated on 4 June 1984, 7-Eleven Malaysia has made its mark in the retailing scene and have been a prominent icon for over 33 years. 7-Eleven Malaysia is the pioneer and largest 24-hours standalone convenience store operator in Malaysia with over 2,250 outlets nationwide and serves more than 900,000 customers daily. 7-Eleven stores can be found across bustling commercial districts to serene suburban residential compounds throughout Malaysia, from petrol stations and LRT stations to shopping malls and medical institutions. 7-Eleven is Always There For You.

Ayam Brand™ Launches of e-Charity Site To Benefit Communities

By
Tan Heng Hong
-
(From right) Ayam Brand™ Chairman, Yang Mulia Tunku Dato’ Mu’tamir Bin Tunku Tan Sri Mohamed, Ayam Brand™ CEO, Mr Ting Seng Hee launching the Ayam Brand™ e-Charity site.

Contributes 358,920 Healthy Meals Through Annual Community Care Campaign in 2018

 Kuala Lumpur, November 23, 2018 – Ever wanted to donate to charity or give back to your community but felt that your gift was too small to make a difference? Now Ayam Brand™, the 126-year-old Malaysian favourite known for its wide range of quality canned food is making it easier for you to do just that with the launch of the Ayam Brand e-Charity site https://www.ayambrand.com.my/e-charity.html. Yes, with Ayam Brand™ now everyone can give to charity.

The Ayam Brand™ e-Charity site is believed to be among the first in Malaysia to be launched and managed by a food manufacturer, with the aim of enabling more people to help communities in need through the convenience of online orders.

Ayam Brand is offering the products at 15% off the retail selling price and providing free delivery to encourage the public to help 8 selected Non-Government Organisations (NGO) in Kuala Lumpur and Selangor. All the NGOs are registered with the Department of Social Welfare Malaysia and the Registrar of Societies. The brand plans to expand the program to cover NGOs in more states. The site is live and the public can choose how much of the brand’s products they wish to contribute to recipient organization. The minimum contribution is one carton.

The Ayam Brand e-Charity was launched at the finale of the Healthy Kids Food Festival part of Ayam Brand’s 11th consecutive CSR, held at Sunway Putra Mall, here today. Cumulatively the brand has contributed 1,404,000 healthy meals for charity, benefitting approximately 20,000 people from 482 charity organizations, with 358,920 meals distributed this year.

According to Ayam Brand™ Chairman, Yang Mulia Tunku Dato’ Mu’tamir Bin Tunku Tan Sri Mohamed, everyone should have easy access to charitable giving, and e-platforms such as the Ayam Brand e-Charity site make it easier to contribute.

“Food is a basic necessity, and nutritional food is especially important for developing children, and senior citizen. However, children and seniors at NGOs may not have access to some types of food such as Omega-3 and protein rich foods like tuna and sardines that are essential for their physical and mental well-being. Ayam Brand has these foods in preservative-free, no MSG added formats, and now we are proud to make these accessible to more people, so that they can gift good food to those who need it most,” mentioned Tunku Dato’ Mu’tamir.

The Ayam Brand™ Healthy KIDS Food Festival aims to empower children to make food choices through engaging and interactive activities that help them identify the main food groups, understand portion size and make informed food choices on how food can positively shape their bodies. Ayam Brand™ contributes its products to participating charity homes. As part of this annual event.

With Malaysia named as one of the ASEAN countries that has the highest prevalence of obesity among children and adolescence with 23.7% of our children and adolescent being obese[1], this community care campaign is timely. Obesity can be linked to eating habits that are learned from young with overweight children often becoming overweight or obese adults. Cultural factors are a contributing factor.

Explaining the Healthy KIDS Food Festival, Tunku Dato’ Mu’tamir said “Children learn better through play. Ayam Brand developed the Healthy KIDS Food Festival with games created for kids to have fun.  We hope the kids participating today will practice what they have learned and share these tips with their friends to spread the message of healthy eating.”

Among the engaging workshop session were ‘Yay or Nay’ to differentiate between healthy and unhealthy food choices, crosswords on the benefits of Omega 3 at the ‘Crossword’ booth, the ‘Healthy Plate’ booth to determine the quantity of different food groups in a balanced diet and the ‘DIY’ booth for kids to plate their own Nasi Lemak Tuna based on what they have learned.

At the event, Ayam Brand™ introduced a healthier, quicker and more convenient Nasi Lemak that uses the brand’s coconut milk, with Light Chilli Tuna as sambal, topped with boiled egg and cucumber for a balanced, tasty and nutritious meal.

Yayasan Sunbeams Home, Pusat Jagaan Kanak-kanak Harapan, Rumah Amal Cahaya Tengku Ampuan Rahimah, Rumah Ozanam, Rumah Sayangan, Home of Peace, Rumah Bakti Nur Syaheera and Rumah Kasih Harmoni from Kuala Lumpur and Selangor received two months’ supply of Ayam Brand products including sardines, mackerel, tuna and coconut milk products sufficient for two months daily meals.

According to Pastor Victor Maniam, a representative from Yayasan Sunbeams Home, the contribution of Ayam Brand™ products appreciated as it is a healthy, fast and convenient addition to their daily diet.

“We are grateful to Ayam Brand™ for inviting Yayasan Sunbeams Home to join in this event and for the generous contribution of their convenient, nutritious and delicious products. We will be running some of the workshop activities at Yayasan Sunbeams Home soon because it can help the kids pick up healthy eating,” said Pastor Victor.

To make your own contribution, log on to Ayam Brand™ e-Charity website at https://www.ayambrand.com.my/e-charity.html.

About Ayam Brand

Ayam Brand, a household name in Malaysia and Asia for 126 years, is famed for its wide range of quality and healthy canned food that are preservative free and contain no added MSG. Ayam Brand products are manufactured in state-of-the-art facilities that meet the highest international standards with worldwide-recognized certifications (HACCP, ISO 9001) and are certified ‘Halal’. For the past four consecutive years from 2013 to 2016, Ayam Brand has been ranked in the Top 10 as Malaysia’s most chosen FMCG brands, according to Kantar Worldpanel’s Brand Footprint Study.

 For more information on Ayam Brand, please visit www.ayambrand.com.my or join facebook :Ayam Brand-World of Recipes

[1] http://www.eiu.com/Handlers/WhitepaperHandler.ashx?fi=Tackling-obesity-in-ASEAN.pdf&mode=wp&campaignid=ObesityInASEAN, The Economist Intelligence Unit

Feel the Thunder in the Philippines

By
Tan Heng Hong
-
Image Credit: Minimeinsights.com

Coca-Cola Philippines is back in the energy drink category but with a twist. According to Coca-Cola Philippines Marketing Director Stephan Czypionka, the beverage company has launched a “highly attractive product that delivers great taste and a strong energy kick which is new in the Philippines,” reported Manila Standard.

Thunder is the first caffeine-powered “Supersoda” in the country with the taste of soda and a kick of caffeine to attract a younger group of consumers who want the energy but not the taste associated with energy drink. Thunder is available in Citrus Shock and Fruit Bomb, which will be available in 300ml PET bottles.

Coca-Cola previously had the Samurai brand in the energy drink category but was later withdrawn from the market, leaving Cobra and Sting as some of the remaining players in the largely stagnant energy drink market.

Thunder is located in the energy drink section. Photo credit: Minimeinsights.com

A 330ml can of Thunder is priced at PHP 29.50 (USD 0.56) at SM Supermarket. As a comparison, Cobra in 350ml PET is priced at PHP 20.00. Thunder is not available at convenience store at the time of writing.

Non-competition

Coca-Cola has a non-competing deal with Monster Energy when it comes to energy products. Coca-Cola has a 17% stake in Monster. The US soft drink giant Coca-Cola has plans to roll out energy drinks with its own brand in 2019 and the issue is now under arbitration.

Classifying Thunder a “supersoda” in the Philippines is seen as a way to circumvent the non-competing clause in the energy drink segment but Thunder does taste like an energy drink.

New Anlene MoveMax UHT milk white tea and black sesame and more

By
Tan Heng Hong
-

Fonterra has rolled out two new flavoured MoveMax UHT milk in Singapore – White Tea and Black Sesame. White Tea is described as a light fragrant taste, while Black Sesame is known for its nutty richness. The two Anlene MoveMax UHT milk, which is low in fat, high in calcium and contains calcium, is available exclusively at Fairprice.

In Thailand, Anlene MovMax UHT Low Fat Milk has the new Roasted Genmai flavour and the Espresso Coffee Flavour with Cereals.

Roasted Genmai

In Malaysia, Anlene has rolled out Cafe Latte with 7 sticks containing 100% pure coffee for coffee lovers but who still need the nutrition from milk. 

86% Increase in Online Traffic at Midnight on Singles’ Day

By
Tan Heng Hong
-

The Singles’ Day sale, also known as the 11.11 Sale, obtained worldwide attention as Alibaba Group announced its achievement of US$30 billion in gross merchandise value (GMV). The e-commerce giant achieved a higher GMV as compared to its previous year at US$25 billion, although it garnered a lower growth rate.

The online shopping festival has gained much attention in Malaysia this year as we saw various e-commerce players promoting attractive and extravagant promotions.

As such, we conducted an analysis to find out how the 11.11 Sale influenced consumer behaviour and share insights on how businesses can better prepare themselves for future sale events.

Midnight shopping

During Singles’ Day, there was a 47% increase in online traffic on 11 November when compared with a similar period in the previous month. Interestingly, consumers began searching for deals as early as 9.00pm on 10 November, a day before Singles’ Day. This is significant as consumers in 2017 only began searching for 11.11 Sale deals after 11.00pm.

The increased interest in the sale was influenced by the extravagant campaigns organised by various e-commerce players to promote Singles’ day. One such example was Lazada, who organised a star-studded live event to launch its sales campaign. This was similar for other e-commerce players such as Shopee, 11street, FashionValet and others who organised their own 11.11 Sale campaigns as well.

In addition to this, various e-commerce platforms have been encouraging consumers to save their preferred products and deals in their online shopping cart prior to Singles’ Day. As such, this has influenced consumers to shop online much earlier in order to secure their orders.

Similar as the previous year, online traffic grew exponentially at 12.00am on 11 November. Online traffic increased by 86% at midnight when compared to a similar period in the previous month. The big growth in online traffic was evident as major players such as Lazada, Shopee, and 11street experienced issues with its payment gateway from midnight onwards.

Leveraging consumers’ last-minute shopping trend

According to the whitepaper the State of E-commerce, online traffic during the weekends are usually lower when compared to weekdays. This was not the case for Singles’ Day when online traffic grew exponentially on Sunday, 11 November.

In the morning of the sale day, consumers began searching for deals as early as 8.00am in the morning. Online traffic was significantly higher throughout the day and reached its peak at 8.00pm in the evening. This a unique trend in 2018 because online traffic in the previous year was more stable at 8.00pm.

This trend was probably influenced by the increased number of promotions which were offered at specific timings. For example, merchants such as Lelong and 11street organised live shows or flash deals at the certain time of the day to promote a specific product, category, or brand.

One similar trend continued from the previous year was that consumers are avid last-minute shoppers. This was evident as there was a rapid rise in online traffic between 8.00pm and 12.00am, indicating that consumers are shopping for last-minute 11.11 Sale deals.

The Most Popular Search Queries with the Keyword ‘promotion’

Popular keywords searched on Google prior to and during the 11.11 Sale were airline, supermarket, food and beverage promotions. 46% of the most popular keywords were airline related promotions. The most searched airline keywords during the Singles’ Day period were brand names like ‘airasia’, ‘malindo air’, and ‘malaysia airlines’.

Keywords related to supermarket deals were popular as well such as ‘aeon big’, ‘tesco’, ‘giant’, and ‘econsave’. As for food and beverage deals, consumers were searching for ‘secret recipe’, ‘starbucks’ and ‘sukiya’ and ‘kfc’.

This is an expert article by iPrice Group

Research Methodology

The hourly traffic of iPrice Malaysia’s online visitors recorded on 10, 11, 12 November and 13, 14, 15 October were obtained from Google Analytics.

Data on the most popular search queries with the keyword ‘promotion’ was obtained from Google Trends between 4-11 November 2018 in Malaysia.

About iPrice Group

iPrice Group is a meta-search website where Malaysian consumers can easily compare prices, specs and discover products with hundreds of local and regional merchants. iPrice’s meta-search platform is also available in six other countries across Southeast Asia namely in; Singapore, Indonesia, Thailand, The Philippines, Vietnam, and Hong Kong. Currently, iPrice compares and catalogues more than 100 million products and receives more than five million monthly visits across the region.

iPrice currently operates three business lines: price comparison for electronics and health & beauty; product discovery for fashion and home & living; and coupons across all verticals.

On a regular basis, iPrice Group releases key insights on topics pertaining e-commerce, startups, and others. Stay tuned to iPrice’s insights here: https://iprice.my/trends/insights/

 

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