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GigaMedia Announces Second-Quarter 2020 Financial Results

TAIPEI, July 31, 2020 — GigaMedia Limited (NASDAQ: GIGM) today announced its second-quarter 2020 unaudited financial results.

Comments from Management

In the second quarter of 2020, GigaMedia reported revenues of $1.83 million, with a gross profit $0.98 million, an operating loss of $0.55 million and the net loss of $0.42 million. Total revenues increased by 13.8% if compared to the previous quarter.

"In spite of the ongoing disruption of the pandemic to our operations, we have achieved clear improvements," said GigaMedia CEO James Huang. "We have reshaped our cost structure and remodeled our marketing strategies, thereby approximately halved the operating loss if comparing to the same quarter last year."

"And we are also enhancing the playability and stickiness of FunTown M, our in-house developed mobile platform of casual games," continued GigaMedia CEO James Huang, "which will be the most crucial piece to fall in place for our turning profitable beyond just break-even."

Second Quarter Overview

  • Operating revenues increased by approximately 13.8% quarter-on-quarter, to $1.83 million from $1.60 million in last quarter, and 4.3% year-over-year from $1.75 million the same period last year. The increase was mainly attributable to our efforts in revitalizing Tales Runner, a 14-year-old licensed game we operate in Hong Kong.
  • Gross profit increased slightly by 5.5% to $0.98 million from $0.93 million in last quarter, and increased by 27.2% compared to $0.77 million in the same period last year.
  • The net asset value was $4.96 per share.

Unaudited Consolidated Financial Results

GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on browser/mobile games and casual games.

Unaudited consolidated results of GigaMedia are summarized in the table below.

For the Second Quarter

GIGAMEDIA 2Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

(unaudited, all figures in US$ thousands, except
per share amounts)

2Q20

1Q20

Change

(%)

2Q20

2Q19

Change

(%)

Revenues

1,826

1,604

13.8

%

1,826

1,750

4.3

%

Gross Profit

978

927

5.5

%

978

769

27.2

%

Loss from Operations

(549)

(640)

NM

(549)

(1,122)

NM

Net Loss Attributable to GigaMedia

(419)

(286)

NM

(419)

(614)

NM

Net Loss Per Share Attributable to

   GigaMedia, Diluted

(0.04)

(0.03)

NM

(0.04)

(0.06)

NM

EBITDA (A)

(634)

(536)

NM

(634)

(1,000)

NM

Cash, Cash Equivalents and

   Restricted Cash

56,783

57,311

(0.9)

%

56,783

58,015

(2.1)

%

NM= Not Meaningful

(A)  EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to
results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use
of Non-GAAP Measures," for more details.) 

Second-Quarter Financial Results

  • Consolidated revenues for the second quarter of 2020 increased by 13.8% quarter-on-quarter to $1.83 million from $1.60 million in last quarter, and by 4.3% year-over-year from $1.75 million the same period last year.
  • Consolidated gross profit was $0.98 million, increased by 5.5% quarter-on-quarter and 27.2% year-over-year.
  • Consolidated operating expenses were $1.53 million, comparable to the first quarter of 2020 and decreased by 19.3% if compared to the same period last year, which reflected a decrease in marketing expenses and general expenses.
  • Consolidated loss from operation of the second quarter of 2020 was a loss of $0.55 million, reflecting an improvement from a loss of $0.64 million in the first quarter.
  • Net loss in the second quarter of 2020 was $0.42 million, increasing from a net loss of $0.29 million in the first quarter this year mainly due to lower interest income and exchange loss in this quarter. 
  • Cash, cash equivalents and restricted cash at the end of the second quarter of 2020 amounted to $56.8 million, slightly decreased by 0.9% from $57.3 million as of the end of the first quarter.

Financial Position

GigaMedia maintained its solid financial position, with cash, cash equivalents and restricted cash amounted to $56.8 million, or $5.14 per share, as of June 30, 2020.

Business Outlook

The following forward-looking statements reflect GigaMedia’s expectations as of July 30, 2020. Given potential changes in economic conditions and consumer spending, the evolving nature of digital entertainments, and various other risk factors, including those discussed in the Company’s 2019 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission as referenced below, actual results may differ materially.

In the second half of 2020, we will continue improving productivities of the existing games, in which FunTown M, our own mobile platform of casual games, is expected to begin contributing to our revenues. Along with our various product lines and customer platform, we will gradually accumulate the momentum to an upward trend.  

Meanwhile, our management continues evaluating and pursuing prospects of strategic investment targets that are with potential to expand our business and create greater shareholder value.

Use of Non-GAAP Measures

To supplement GigaMedia’s consolidated financial statements presented in accordance with US GAAP, the Company uses the following measure defined as non-GAAP by the SEC: EBITDA. Management believes that EBITDA (earnings before interest, taxes, depreciation, and amortization) is a useful supplemental measure of performance because it excludes certain non-cash items such as depreciation and amortization and that EBITDA is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not a recognized earnings measure under GAAP and does not have a standardized meaning. Non-GAAP measures such as EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, other financial measures prepared in accordance with GAAP. A limitation of using EBITDA is that it does not include all items that impact the company’s net income for the period. Reconciliations to the GAAP equivalents of the non-GAAP financial measures are provided on the attached unaudited financial statements.

About the Numbers in This Release

Quarterly results

All quarterly results referred to in the text, tables and attachments to this release are unaudited. The financial statements from which the financial results reported in this press release are derived have been prepared in accordance with U.S. GAAP, unless otherwise noted as "non-GAAP," and are presented in U.S. dollars.

Q&A

For Q&A regarding the second quarter 2020 performance upon the release, investors may send the questions via email to IR@gigamedia.com.tw, and the responses will be replied individually.

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia’s digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.

The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected financial performance (as described without limitation in the "Business Outlook" section and in quotations from management in this press release) and GigaMedia’s strategic and operational plans. These statements are based on management’s current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including but not limited to, our ability to license, develop or acquire additional online games that are appealing to users, our ability to retain existing online game players and attract new players, and our ability to launch online games in a timely manner and pursuant to our anticipated schedule. Further information on risks or other factors that could cause results to differ is detailed in GigaMedia’s Annual Report on Form 20-F filed in April 2020 and its other filings with the United States Securities and Exchange Commission.

(Tables to follow)

 

GIGAMEDIA LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Operating revenues

Digital entertainment service revenues

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Other revenues

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Operating costs

Cost of digital entertainment service

    revenues

847,906

677,194

980,448

1,525,099

1,725,350

Cost of other revenues

847,906

677,194

980,448

1,525,099

1,725,350

Gross profit

977,641

926,710

769,135

1,904,351

1,507,466

Operating expenses

Product development and engineering

   expenses

332,745

328,815

325,144

661,560

645,638

Selling and marketing expenses

367,529

410,475

580,539

778,004

1,106,542

General and administrative expenses

825,998

824,442

974,648

1,650,440

1,810,634

Other

(42)

2,984

11,165

2,942

16,380

1,526,230

1,566,716

1,891,496

3,092,946

3,579,194

Loss from operations

(548,589)

(640,006)

(1,122,361)

(1,188,595)

(2,071,728)

Non-operating income (expense)

Interest income

212,881

255,719

414,450

468,600

796,250

Foreign exchange (loss) gain – net

(82,357)

98,887

90,922

16,529

79,520

Other – net

(1,404)

(298)

3,416

(1,702)

50,328

129,120

354,308

508,788

483,427

926,098

Loss before income taxes

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Income tax benefit (expense)

Net loss attributable to shareholders of
GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Loss per share attributable to GigaMedia

   Basic

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

   Diluted

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

 

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

06/30/2020

03/31/2020

06/30/2019

unaudited

unaudited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

56,247,678

56,777,472

57,489,563

Accounts receivable – net

349,450

355,225

591,905

Prepaid expenses

228,794

276,010

275,551

Restricted cash

535,153

533,436

525,354

Other receivables

203,671

238,396

458,383

Other current assets

142,230

148,757

131,150

Total current assets

57,706,976

58,329,296

59,471,906

Property, plant & equipment – net

7,740

8,117

92,580

Intangible assets – net

17,111

17,965

23,545

Prepaid licensing and royalty fees

184,365

210,530

574,274

Other assets

290,687

285,319

1,035,529

Total assets

58,206,879

58,851,227

61,197,834

Liabilities and equity

Accounts payable

69,147

60,405

119,597

Accrued compensation

278,622

156,948

253,262

Accrued expenses

1,321,262

1,449,553

1,340,539

Unearned revenue

1,058,940

1,285,399

1,617,881

Other current liabilities

627,162

715,877

197,776

Total current liabilities

3,355,133

3,668,182

3,529,055

Other liabilities

3,653

7,337

781,187

Total liabilities

3,358,786

3,675,519

4,310,242

GigaMedia’s shareholders’ equity

54,848,093

55,175,708

56,887,592

Total liabilities and equity

58,206,879

58,851,227

61,197,834

GIGAMEDIA LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Reconciliation of Net Loss to EBITDA

Net loss attributable to GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Depreciation

535

354

14,769

889

40,156

Amortization

(2,257)

4,657

12,830

2,400

25,729

Interest income

(212,881)

(255,719)

(414,450)

(468,600)

(796,250)

Interest expense

Income tax (benefit) expense

EBITDA

(634,072)

(536,406)

(1,000,424)

(1,170,479)

(1,875,995)

 

 

Related Links :

http://www.gigamedia.com

http://www.gigamedia.com.tw

Former General Manager of Sogou’s Commercial Product Technology Center, Xu Hongbing, Appointed CTO of Yiwugo


YIWU, China, July 22, 2020 — Yiwugo.com, the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world, announced last week that Mr. Xu Hongbing, former General Manager of Sogou’s Commercial Product Technology Center, was appointed its CTO, and will lead the overall technology development and operation.

Xu Hongbing
Xu Hongbing

Mr. Xu obtained his Master’s degree from the Department of Computer Science and Technology of Tsinghua University. He has served in well-known technology and Internet companies such as Microsoft, Sohu, and Sogou. As one of the core members, he led the development of China’s first online content publishing system and Internet video advertising system, and he has extensive experience in various fields such as e-commerce platform and traffic monetization.

Yiwugo is committed to the digital upgrade of specialized markets. After years of development, the platform has accumulated a considerable amount of traffic, especially since the beginning of this year, its traffic has increased significantly. At present, Yiwugo owns 53,000 merchants, 800,000 daily unique visitors (UV), 15 million daily pageview (PV), and 5 million registered buyers. Yiwugo has become the most influential e-commerce platform in the specialized market in China. The explosive growth of its user traffic has given rise to further overall technical requirements of Yiwugo. "The company urgently needs an experienced technical leader. I believe that under the leadership of CTO Xu Hongbing, a great technical improvement can be expected," said Wang Jianjun, CEO of Yiwugo.

After more than 20 years of development of China’s Internet industry, a large number of companies have recently begun to shift their business focus from consumer Internet to industrial Internet, which has created a new track for the Internet industry in the future, and attracting more and more talents in the industry with its huge market potential. As the largest online platform in the small commodity wholesale industry, Yiwugo was able to invite such an outstanding expert as Mr. Xu to join, which is an inevitable trend of industry and the best combination of enterprises and talents.

Yiwugo is tailor-made for specialized markets, and its functions are designed in a way close to actual small commodity wholesale markets. The core of the specialized markets is "finding goods", and the core of the professional market upgrading is the upgrading the way of finding goods. Yiwugo has covered all small commodity markets and high-quality small commodity suppliers in Yiwu and strives to make it easier for buyers to search commodities. Through technical means such as 360-degree panoramic display, live streaming and APP, the platform ensures online and offline consistency. Yiwugo is a user-friendly platform which reduces the traffic cost of vendors in physical markets operating e-commerce business, and meets the transformation requirements of merchants of professional markets through a decentralized and intelligently recommended traffic distribution mechanism. Many vendors on the Yiwugo have been made able to connect with new domestic and foreign buyers at low cost.

Banggood Unveils Top-Selling Products List For First Half of 2020, Xiaomi Emerges As Most Popular Brand

GUANGZHOU, China, July 21, 2020 — Banggood, a leading cross-border e-commerce retailer, has revealed the top-selling brands and products on its platform for the first half of 2020, reflecting sales increase in multiple categories such as Fashion, Home Appliances, Computer & Office, Automobile & Motorcycles, Sports & Outdoor.

Under the pandemic, stay-at-home shopping demand surge boosts online shopping. For the first time in Banggood’s history, ‘Health, Beauty & Hair’ emerged one of the best-selling categories. Masks and oximeters debuted on the top 10 top selling products list, while Xiaomi retained its title as the most popular brand on the platform.

  • Sales Performance of Personal Health and Fashion Categories Stands Out

From January to June 2020, Banggood witnessed a significant increase in user activity as more people turned to online shopping and a remarkable sales increase during lockdown. Home office, fashion, home appliances and personal health categories were the frontrunners with the largest year-on-year growth in demand for the first half of 2020.

Within the home office category, headset sales surged more than 200% while sales for tablets and laptops also saw a marked increase. In fashion, sales for casual attire soared with a fiftyfold increase for men’s striped lounge wear set and thirtyfold increase for casual men’s shoes.

Home appliances and Health, Beauty & Hair categories have also entered Banggood’s best-seller list for the first time, with LCD projector seeing a 100% increase in a single month and oximeter sales increasing 80 times.

  • Mobile Commerce (M-Commerce) is Growing

Banggood has also seen an increased proportion in the number of users browsing and buying products on the platform via a mobile device. Banggood’s data revealed that more consumers are downloading and making purchases through the Banggood app, with a year-on-year increase of over 300%. GMV has also significantly improved on these platforms.

  • Livestream Shopping Emerged as a Key Trend

Social shopping has also emerged as a key trend at the turn of the decade. The number of orders placed during live streams has increased dramatically, and Banggood has found that consumers are rapidly forming a social shopping path whereby they discover — and purchase — their favorite products through live interactions. As a result of numerous live streaming events hosted by Banggood this year, the platform has seen a 70% year-on-year increase in orders placed during these events.

The release of this sales data comes in the midst of the platform’s Summer Prime Sale, Banggood’s largest-scale sales campaign to date. During the sale, Banggood will provide popular products with great discounts and digital coupons worth USD60 million to its users. The sale will peak with the best deals and discounts between July 21st to 24th, together with its 72-hour time-limited live-streaming session – the Banggood LIVESTREAM.

The full list of Banggood’s best-selling brands and products can be found below.

Top 10 Best-selling Brands

  1. XIAOMI
  2. DJI
  3. HUAWEI
  4. ONEPLUS
  5. LENOVO
  6. Topacc
  7. Eachine
  8. BlitzWolf
  9. Geekcreit
  10. Drillpro

Top 10 Best-selling Products

  1. Mobile phone
  2. RC Drones
  3. 3D printer
  4. TWS headset
  5. Men’s shoes
  6. Smart watch
  7. Oximeter
  8. Projector
  9. Folding bicycle
  10. Mask

About Banggood

Founded in 2006, Banggood is a leading e-commerce company running its website www.banggood.com and pages on other platforms to offer tens of millions of registered users more than 500,000 types of products, covering from consumer electronics to clothing. Banggood is headquartered in Guangzhou, China, the city of supply chain, with a global reach in North America, Europe, Asian Pacific, South America and Middle East.

For more information, please visit: https://www.banggood.com/aboutBanggood.html

Media Contact
Zoeh Zheng
Phone: +86-134-5028-6595
Email: pr@Banggood.com

Related Links :

http://www.banggood.com

Unbxd collaborates with Peak Activity to offer headless commerce implementation for eCommerce businesses

SAN MATEO, California, July 20, 2020 — Unbxd Inc., a leading provider of AI-based Commerce Search and Product Discovery solution today announced its partnership with Peak Activity, a technology, and marketing consultancy that partners with enterprises to “Dream, Deliver, & Elevate” their digital results by creating eCommerce platforms that achieve long term and scalable growth through game-changing technology. This is pertinent in today’s economy where more businesses are headed the eCommerce way.

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“At PeakActivity, we help online retailers create digital experiences that are fast to stand up, fast to load, and deliver personalized customer journeys.  With the power of Unbxd, we are able to assist shoppers in navigating these websites quickly and connect them to the products they are most likely to buy,” says Manish Hirapara, CEO at Peak Activity.

Unbxd with its AI-powered relevance, robust and reliable APIs on a cloud-based platform helps Peak Activity to enhance the on-site shopper experience and boost conversions for its customers. Unbxd adds a layer of data sciences and analytics for customers of Peak Activity to drive useful insights and make informed business decisions.

“With our partnership with Peak Activity, we are enabling faster go to market for all online retailers looking to optimize shopping interactions that enable product discovery,” says Pavan Sondur, CEO, Unbxd. He adds, “Our product offering has not only made retailers see more engagement with the shoppers along the buying journey but has also made Peak Activity maximize returns for their customers through headless commerce implementation.”

About Peak Activity:
PeakActivity partners with enterprises to elevate their digital results by creating eCommerce platforms and digital marketing experiences that help grow their business. It delivers innovation, emerging technology, and mobile solutions to the enterprises headed the eCommerce way. Peak Activity’s capabilities span a wide range of sectors and industries, including hospitality, manufacturing, retail, biotechnology, real estate, and finance.

About Unbxd:
Unbxd is an AI-powered eCommerce search solution that understands shoppers’ intent and connects them to the products they are most likely to buy — across site search, browse, and recommendation purchase journeys. Unbxd powers search for more than 1300+ eCommerce sites across 40+ countries. The Unbxd product discovery solution is custom-built to be deployed across verticals such as Fashion, Healthcare, Pharma, Autoparts, Home Decor, B2B, and Mass Merchants. For more information, please visit unbxd.com or follow them on LinkedIn.

CONTACT: media@unbxd.com

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Logo – https://techent.tv/wp-content/uploads/2020/07/unbxd-collaborates-with-peak-activity-to-offer-headless-commerce-implementation-for-ecommerce-businesses.jpg

Related Links :

http://www.unbxd.com

ShopSave–to Build “Buy to Save, Share to Earn” Social E-commerce Cashback Platform

GUANGZHOU, China, July 17, 2020In 2020, ShopSave, the newest social sharing-oriented shopping guide e-commerce platform went live. It was launched by Ruiku Information Technology Co., Ltd. Terry Wang, CEO, says: "ShopSave seeks to satisfy consumer’s demand for cost-effective branded and high-quality products and strives to build Buy to Save, Share to Earne-commerce ecosystem,  in order to promote the optimization and upgrading of the mobile e-commerce industrial structure".

ShopSave brings huge amount of products with super discounts, high cashback and high commissions, so that you can save money and make money just by moving your finger! (Screenshot of interface of ShopSave APP)
ShopSave brings huge amount of products with super discounts, high cashback and high commissions, so that you can save money and make money just by moving your finger! (Screenshot of interface of ShopSave APP)

Nowadays, the cost of traditional e-commerce customer acquisition is high, and the underlying purchasing power cannot be activated, but the network information channels are becoming more abundant, the trading information is becoming more symmetric and transparent. People begin to realize the limitations of traditional traffic channels, and the interest to flow of the Social platform users is rapidly increasing.

As AliExpress’s official cooperative cashback platform, ShopSave will immediately release the latest hidden coupons, as long as any of AliExpress’s products have promotions, and any user who downloads ShopSave can use it to buy the same product at a lower price. The certain percentage from the amount of money spent by user will be returned to them as a cashback, so they can withdraw it periodically. It is worth mentioning that the process of obtaining coupons from ShopSave is highly convenient. User only has to copy the link of the product he wants to buy on AliExpress and open ShopSave to automatically paste the searched coupon.

Exposure through advertising and improving ranks is no longer the only way for e-commerce to acquire customers, so getting more traffic through social channels has become another competition point for e-commerce merchants. Merchants are joining the promotional cashback activities, and ShopSave shares the most of this promotional commission to user, which is helping user to get more benefits and increasing the activity of their APP and users’ participation at the same time.

When user shares the goods with others to buy through ShopSave, it is equivalent to helping the merchant to promote their products, so the commission is the promotion fee paid to the user. In other words, the more they share, the more commissions they get. In order to involve more users, ShopSave provides an additional opportunity for each user to start their own business with 0 costs. The user invites others to register as members of ShopSave. Every time one of these persons makes a purchase through ShopSave, the user gets a substantial commission income, so, basically, it allows them to make money while doing nothing.

It is precisely because this is a win-win strategy, it has quickly become an ancillary industry of e-commerce shopping APPs. With the rapid development of e-commerce, the content guide e-commerce platforms will increase their influence at market, so the cashback and coupons APP, such as ShopSave itself, has huge development prospects.

About ShopSave

ShopSave brings huge amounts of products with super discounts which have high cashback and high commissions. Here, you can get the coupons first, then save money on shopping and earn commissions by sharing goods. After your friend buys the products you have shared, ShopSave will reward you with some of the benefits. The more friends you shared with, the more benefits you get.

ShopSave utilizes Facebook, Instagram, Twitter and Whatsapp to create a Sales oriented and Sharing ecosystem: join as VIP member by purchasing any gift package, invite friends, Share the business can get a generous income. ShopSave provides highest quality service for everyone to join as entrepreneur and to achieve personal entrepreneurial goals. It helps all the members to buy cost-effective goods without leaving their homes and to gain the opportunity of starting business to realize their financial freedom!

ShopSave provides one-click pre-sale and after-sale customer service, logistics, as well as other services, without hoarding compaction. To provide VIP members with ZERO (0) risk of entrepreneurial opportunities.

Visit www.shopsave365.com

 

Related Links :

https://www.shopsave365.com/

HP Introduces Powerful New Global Partner Program

HP Amplify™ arms partners with the capabilities and insights required to drive growth in the customer-driven digital age

News highlights:

  • Delivers simplified and easy-to-navigate global[1] structure with two distinct tracks
  • Rewards partners for value-added services, collaboration and capabilities
  • Accelerates digital transformation with insights-driven data and collaboration tools

SINGAPORE, July 16, 2020 — Today, HP Inc. unveiled HP Amplify, a first-of-its kind global[1] channel partner program optimized to drive dynamic partner growth and deliver consistent end customer experiences. Built on a single, integrated structure, HP Amplify provides the insights, capabilities and collaboration tools needed to drive growth as digital transformation and customer purchasing behaviors continue to evolve. The new program goes into effect November 1, 2020 for commercial partners with retail partners slated to transition in the second half of 2021.

HP Introduces Powerful New Global Partner Program
HP Introduces Powerful New Global Partner Program

By consolidating HP’s best partner products, tools and trainings into one intuitive program, HP Amplify removes complexity, making it easier for partners to take advantage of its many benefits and engage customers on a deeper level. Now comprised of just two distinct tracks – Synergy and Power – with clear compensation levels, HP Amplify provides partners with the flexibility to invest in value-added services and capabilities. The more a partner invests in these capabilities, the higher the rewards.

“Today’s buyer expects streamlined, automated and personalized experiences. To thrive in this changing environment – with data as the new currency – requires a combined shift to relate to our customers as individuals, not markets,” said Ng Tian Chong, Managing Director, Greater Asia, HP Inc. “HP Amplify not only makes it easier for partners to do business with HP – it provides partners with a clear path to ready their business and succeed in today’s environment and beyond – to capitalize on emerging trends and play a central role in the evolving customer buying journey.”

Experiences at the Speed of Digital

Customers have dramatically altered how they research and buy technology and how they engage with brands, buying more products and services through digital channels, such as e-commerce, partner portals and marketplaces. At the same time, technology and digital transformation are advancing at an astounding pace while business models are shifting from simple transactions focused on selling products to contractual relationships.

For the IT industry overall, and the channel specifically, it means business as usual is no longer an option. With the introduction of HP Amplify, HP is taking decisive actions to capitalize on these shifts, arming partners for future growth and to deliver a more satisfying customer experience.

“HP and its partners have an enormous and exciting opportunity to reinvent the way we do business and our route-to-market,” said David Tan, Head of Channel, Omni and Supplies Sales, Greater Asia, HP Inc. “Yet addressing these opportunities requires overcoming system inadequacies, legacy habits and embracing new business models. We’re making this leap together, embracing and investing in important changes to our ecosystem and our shared capabilities.”

Performance, Capabilities & Collaboration [2]

Designed to enable progressive go-to-market strategies that cater to a combination of transactional, contractual and hybrid selling models, HP Amplify focuses on three core pillars: performance, capabilities and collaboration.

Performance

As the traditional sales model has been upended, so too has the traditional channel compensation model. While the new program will continue to reward partners based on goals and volume, HP Amplify features an innovative measurement and reward system that accounts for the many strategic efforts partners employ throughout the holistic sales process, from registration volume to average sales value and account retention.

Capabilities

Beyond sales revenue alone, HP Amplify measures rewards based on new capabilities, including investing in and improving digital skills, service delivery capabilities, e-commerce/omnichannel experiences and secure data collaboration.

Capabilities will be specialized and tailored to the sectors customers operate within, creating more personalized experiences and driving invaluable outcomes. HP Amplify rewards partners who invest in the capabilities to compete – and win – in a world dominated by e-commerce and digital-led customer journeys and experiences. The more capabilities around secure data collection, routes to market, services and specializations, the more access and benefits partners will receive.

Collaboration

Collaboration between HP and its partners is critical to our shared success. HP Amplify is designed to turn data analytics into deeper insights that inspire new strategies and steer innovation. HP will collaborate closely with partners to hone their digital skills, such as automated quotes and ordering, to provide a more consistent customer experience across multiple channels and equip partners with valuable research on the most important pain points in the customer journey.

Armed with this added opt-in customer intelligence[3], partners will have more of a competitive edge, with the intrinsic ability to anticipate and enable more positive customer outcomes. As a result, partners will be able to serve customers more seamlessly through automated inventory updates, product returns and holistic data intelligence. These experiences will continue to build upon the long-standing bonds between customers, partners and HP.

“For almost 40 years of serving the IT needs of SMBs and large scale enterprises, we continue to see the evolution of business model and customer buying preferences. In the new digital economy, customers go beyond transactional relationships. In addition, customers of today look for Partners that can deliver the best customer experience. With HP Amplify, this new partner program allows partners to build and share customer insights around it. This new partner platform enables HP and Partners to drive and deliver value-added solutions that revolves around customer experience,” said Rudolph Ng, CEO, Phil-Data Business Systems, Inc. Phil-Data is currently a Platinum Partner of HP and has been an HP partner for over 28 years.

HP Amplify Impact

HP’s dedication to sustainable impact through technology that makes life better for everyone, everywhere has long been integral to its business strategy and operations. Together, HP and its partners can make a lasting difference by acting in lockstep to further fuel innovation and growth in these areas.

For this reason, as an extension of the company’s new global program, HP is introducing HP Amplify Impact, inviting all partners to join HP its pledge to address:

  • Planet: Working toward a circular, low-carbon economy
  • People: Respecting human rights, enable people across the value chain to thrive; and cultivate a diverse and inclusive culture
  • Community: Unlocking educational and economic opportunity while improving the vitality and resilience of local communities

For partners who choose to join this opt-in pledge, HP will provide training and support, and help identify potential gaps in the goals partners wish to set and provide guidance on how to achieve those goals. HP will provide more details closer to the launch of HP Amplify on November 1, 2020.

About HP Inc.

HP Inc. (NYSE: HPQ) creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at www.hp.com.

Resources:

[1] Global program, with the exception of Greater China.
[2] Partners who choose not to invest in pillars are not excluded; they can continue to source products through distribution.
[3] Customer data collection will be opt-in and adhere to strict customer privacy and data security requirements.

©Copyright 2020 HP Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

Photo – https://photos.prnasia.com/prnh/20200715/2858480-1?lang=0

Related Links :

http://www.hp.com

Chemist Warehouse teams up with Cohesio Group (Körber) for same-day delivery solution

MELBOURNE, Australia, July 15, 2020 — In response to the changing demands of consumers and a record peak in online orders during COVID-19, Australia’s largest pharmacy retailer, Chemist Warehouse, has teamed up with Cohesio Group (Körber) to launch a same-day delivery service for its 1.5 million weekly customers.

From L - R: Rizan Mawzoon, Head of Transportation at Cohesio Group, Mark Finocchiaro, Managing Partner and Director at Chemist Warehouse, Edwin Chong, Project Manager and Tim Noakes, Development Lead at Cohesio Group
From L – R: Rizan Mawzoon, Head of Transportation at Cohesio Group, Mark Finocchiaro, Managing Partner and Director at Chemist Warehouse, Edwin Chong, Project Manager and Tim Noakes, Development Lead at Cohesio Group

Established in 2002, Chemist Warehouse has grown to become Australia’s largest pharmacy retailer. Operating more than 500 stores across the nation, the leading retailer now services more than 1.5 million customers and dispenses almost a million prescriptions per week.

Since COVID-19, Chemist Warehouse has experienced a huge increase in online orders, reaching higher levels than previous Black Friday and Christmas peaks.

As a result, the retailer has launched Click and Deliver, a new same-day delivery service from Chemist Warehouse and Cohesio Group to offer customers flexible and convenient delivery options. The new solution will complement the retailer’s previous sophisticated Click and Collect offering.

“We wanted to ensure that we could offer our customers the safest possible option to shop during COVID-19 restrictions. We knew that for many they felt it was a risk to leave their homes and shop in the traditional way, so we approached Cohesio Group to help us develop our existing Click and Collect solution to become a Click and Deliver solution,” Mark Finocchiaro, Managing Partner and Director, Chemist Warehouse Group said.

The solution was developed in four-weeks by Melbourne-based technology provider Cohesio Group and the first stage has been rolled out across all of Chemist Warehouse’s stores in Australia, with New Zealand set to follow.

Chemist Warehouse and Cohesio Group have worked together since 2017, with Chemist Warehouse deploying Cohesio’s dedicated retail software, Ignito, to power its Click and Collect processes.

Since Chemist Warehouse introduced Cohesio’s Ignito software solution in 2017, the retailer has increased order fulfilment throughput rates by up to 30 per cent and has since used the software to fulfil up to 150,000 online orders a month.

In order to gain faster fulfilment times, Cohesio developed a solution whereby the picking and packing of online orders is done in store, instead of from a central distribution centre (DC).

“Chemist Warehouse stores are unique in that they tend to be very large facilities and hold a huge amount of inventory. We recognised that this created the perfect opportunity to fulfil orders in store, rather than from a DC,” Rizan Mawzoon, Head of Transformation at Cohesio Group said.

“This kind of fulfilment is on the rise as e-commerce continues to take up a larger percentage of the retail spend. We knew this kind of approach would work very well for Chemist Warehouse and we’re absolutely thrilled with the results,” Nishan Wijemanne, CEO of Cohesio Group said.

When a customer selects an order on the Chemist Warehouse website or app, the Chemist Warehouse Order Management System (OMS) will check the stock levels in the stores closest to that customer to fulfil the order.

The app will also profile the consumer and recognise if they have previously visited or ordered from a particular local store.

“The system then sends a message to the store inventory team and communicates which orders are for Click and Deliver, and which are for Click and Collect,” Rizan said.

“We recognise the critical role that we play in keeping Australians healthy and giving them access to essential goods for the benefit of their health. We knew we needed to come up with a solution that reduced anxiety and risk for the most vulnerable members of our communities. Cohesio rose to the challenge and we are proud to be able to keep serving our customers with flexible and convenient delivery options,” Mark Finocchiaro, Managing Partner and Director, Chemist Warehouse Group concluded.

Cohesio Group is part of international technology group Körber. Kӧrber’s supply chain expertise, spanning software to materials handling equipment, also includes Aberle, Aberle Software, Cirrus Logistics, Consoveyo, DMLogic, HighJump, inconso, Otimis, Langhammer, Riantics and Voiteq. All companies will transition to the Kӧrber brand in Fall of 2020. Körber is home to more than 2,300 professionals and nearly 100 strategic partners across the globe dedicated to conquering supply chain complexity. With 30+ years of experience, Körber has proven success with thousands of companies worldwide.

About Chemist Warehouse and My Chemist

My Chemist is a group of independent Pharmacies, who share a common philosophy. We are dedicated to the health and wellbeing of you and your family. We have a desire to provide you with the most effective and efficient solutions for health, whilst providing advice and updated information.

Chemist Warehouse continues to be at the forefront of internet pharmacy in Australia. The Chemist Warehouse group now employs over 8000 staff members and is Australia’s largest pharmacy retailer and is rapidly expanding throughout New Zealand.

www.chemistwarehouse.com.au 
www.mychemist.com.au

About Cohesio Group

Cohesio Group, a part of international technology group Körber, is a leading integrator and developer of tech solutions that enable rapid optimisation of workflows and processes and is also an idea generating partner for strategic concepts. With offices across the Asia Pacific, Cohesio Group creates innovative technology transformations that span across supply chain and logistics including warehousing and distribution centres, transportation, manufacturing, healthcare, pharmaceutical, FMCG and retail. Cohesio Group’s enterprise-grade solutions range from voice-powered technology that enable hands-free workflows through to new-generation mobility solutions, software applications that provide actionable business insights and retail fulfilment as well as solutions such as Autonomous Mobile Robots that enable automation in distribution centres. Learn more at www.cohesiogroup.com

About the Körber Business Area Supply Chain

Supply chains are growing more complex by the day. Körber uniquely provides a broad range of proven, end-to-end supply chain solutions fitting any business size, strategy or appetite for growth. Capable of delivering not just software, but automation, voice, robotics, and materials handling – plus the expertise to tie it all together. We are a global partner not just for today, but also as the needs of supply chains continue to evolve. Conquer supply chain complexity – with Körber. The Business Area Supply Chain is part of the global technology group Körber. Find out more on www.koerber-supplychain.com 

Photo – https://photos.prnasia.com/prnh/20200715/2858357-1?lang=0

Related Links :

http://www.cohesiogroup.com

48 Hours, 50% Increase: Banggood 2020 Summer Prime Sale Kicked Off

– Bannggood ‘Restart a Good Life’ Summer Prime Sale featuring digital coupons, gifts giveaway and special offers on a variety of essentials for home, school and outdoor activities runs from July 3 through July 26, 2020

GUANGZHOU, China, July 14, 2020 — Banggood, a leading cross-border e-commerce retailer, has kicked off its Summer Prime Sale on July 9th, and saw a 50% sales growth compared with the same period last year for the first 48 hours.

Products of XIAOMI, BlitzWolf, Eachine, DJI and Huawei became the most popular items in the first wave of the campaign, among which XIAOMI’s Redmi Note 8 stood out as the top seller with more than 50,000 pieces sold in the first 48 hours at the price of $125.99, which was the lowest online. The sales amount of product categories such as Home Appliances, Phones & Telecommunication, Sports & Outdoors, Consumer Electrics and more, have been doubled comparing with the same period last year. The sales number of Computers and Office category in the first 4 hours has exceeded that of the whole day last year.

The Summer Prime Sale is Banggood’s largest-scale sales campaign since this year and has attracted active participation of users globally. Banggood has integrated its supply chain to provide popular products with great discounts and digital coupons worth USD60 million to its users, which is available on PC, mobile and app of Banggood from July 11th. The company also launched Banggood Express, a self-operated air freight route and opened more than 37 local warehouses in countries and areas such as the United States, Europe and Australia to shorten the delivery time.

On July 21st to 24th, when the Summer Prime Sale will come to its peak with best deals and discounts, Banggood will host a 72-hour time-limited live-streaming session – the Banggood LIVESTREAM. 14 influencers from different countries will participant into this online event, and viewers joining it will have a chance to receive digital coupons and snap up their favorite products at the lowest price.

For more information of the campaign, please follow Banggood’s Facebook page at https://www.facebook.com/banggood/ or its Instagram at https://www.instagram.com/banggood/

About Banggood

Founded in 2006, Banggood is a leading e-commerce company running its website www.banggood.com and pages on other platforms to offer tens of millions of registered users more than 500,000 types of products, covering from consumer electronics to clothing. Banggood is headquartered in Guangzhou, China, the city of the supply chain, with a global reach in North America, Europe, Asian Pacific, South America and the Middle East. For more information, please visit: https://www.banggood.com/aboutBanggood.html

Media Contact
Zoeh Zheng
Phone: +86-134-5028-6595
Email: pr@Banggood.com

The New Social Technology Revolution – Panel Discussion With Bellagraph Nova Group Founders And Barack Obama On Their Ambitious Quest To Seize The Opportunity Of A Lifetime In The Post Pandemic World.

PARIS, July 13, 2020 — Behind the closed-doors of the glitzy Bellagraph Nova Group office inside 10 Place Vendôme, Paris, a series of stimulating, intellectual discussions and negotiations have been taking place over the last few months, some of these exhilarating discussions will go down in history as one of those defining moments that will forge the destiny of a multibillion global company and potentially even the new digital world.  

The New Social Technology Revolution – Panel Discussion With Bellagraph Nova Group Founders And Barack Obama On Their Ambitious Quest To Seize The Opportunity Of A Lifetime In The Post Pandemic World.
The New Social Technology Revolution – Panel Discussion With Bellagraph Nova Group Founders And Barack Obama On Their Ambitious Quest To Seize The Opportunity Of A Lifetime In The Post Pandemic World.

Headquartered in Paris, France, the Bellagraph Nova Group (BN Group), the conglomerate overseeing 31 business entities, across 100 countries, is the world’s fastest growing 360˚ lifestyle platform. Founded by the trailblazing trio, Ms. Evangeline Shen, Mr. Nelson Loh and Terence Loh, the Bellagraph Nova Group since its inception, has taken the world by storm, making strategic chess moves that even the greatest Grandmasters will be proud of.

One such brave move was the decision of the trio to embark on their landmark merger in the midst of the global pandemic crisis. The audacity to even fathom such a strategic thought by itself, is already no mean feat and the ability to pull it off was nothing short of a miracle move. 

Below is an excerpt of some of the interview questions, discussed over the last few months behind closed doors, while the world was battling the Covid 19 crisis.

Question 1) Following the multi-billion dollar landmark merger between DORR Group and the Bellagraph Group of Companies and setting the new global HQ office at Paris, what is the rationale behind this brave decision in the midst of the worst pandemic crisis in human history and what inspired the founders of BN Group to embark on such ambitious, expansionary plans that the Group has been making over the last few months.

If one were to look back into the sands of time, all the previous pandemics in human history have massively reshaped our society, reformed religious existence, altered values of mankind and changed social behavior patterns globally. Starting from the 14th century, the Black Death rapidly spread across Europe until 1771 and killed over 75 million people. The pandemic immediately heralded changes in both the social and political systems and directly led to the collapse of feudalism.

According to Boccaccio in “The Decameron”, the Black Death led to monumental changes in social structure and religious form, which ended the Catholic Reign and resulted in an integration of various religions throughout Europe. Furthermore, this pandemic brought about massive wealth erosion in Europe and laid the foundation for the birth of laissez faire capitalism as well as catalyzed the industrial revolution in the 18th century.

In 1918, the Spanish flu quickly spread throughout Europe and eventually the world. According to scholars, over 1.8 billion people were infected worldwide. While this plague did not directly reshape social structures, the Spanish Flu did have a profound impact by ending World War I. The Spanish Flu outbreak also spawned the feminist movement due to a decline in labor force and the redistribution of wealth, thereby leading to the 19th amendment in the US Constitution and other historical human rights movements. From this perspective, the Spanish Flu was the ultimate factor advancing mankind towards modern civilization as well as promoting focus on women empowerment.

Will the Coronavirus disease cause more impact than the Spanish Flu or even the Black Death? As history has taught us, the effects of these global phenomenons can occur years, decades and centuries after a global changing event. Given human’s finite lifespan, one can never truly foresee the after-effects of any global pandemic.

Only time will tell the full impact and after-effects in the post Covid world. However, we have already witnessed how the Coronavirus disease has massively altered human behavior patterns, most notably shifting multiple forms of social interaction from offline to online (O2O) and this O2O transition will only accelerate going forward and drive human behavior across all facets of our lives. We at the BN Group call it “the new social technology revolution”

As countries around the world are adopting aggressive expansionary financial policies, it will bring about global asset appreciation and new investment opportunities. Geopolitics will have contracted significantly and lead to more regionally based operations for multinational companies. Looking further ahead, just as the Black Death and the Spanish Flu has advanced modernization, the Coronavirus will also lead mankind to thrive and to advance faster across all aspects, such as technology and human civilization. This means it will also catalyze human rights movements, such as the movement regarding George Floyd in the United States. Along the same vein, it will also result in movements such as women empowerment movements, LGBT movements, religious harmony movements to promote social reform. And it will catalyze technical revolution on the same basis.

To summarize, each of these historical pandemics will firstly always result in global regionalization. It is challenging to all global enterprises, including the Bellagraph Nova Group, to respond to such challenges, we are establishing more local presence by setting up more regional offices in our respective target markets. The recent merger of the Bellagraph Nova Group, who has a strong presence in North America, Europe, Asia and Africa, has allowed this new conglomerate to already enjoy improved operational efficiencies throughout its expansive network around the world.

Secondly, these global events have corresponded to more emphasis and focus on humanity and human rights in addition to technological advancement. Europe has always been the frontier of such advancement and human rights movement, hence the BN Group has chosen Paris as its new global headquarters. Our decision to move back to Paris is inevitable. It is as if we are answering our call to destiny and retracing the path of history.

Question 2) Many businesses have complained that this devastating crisis is detrimental to everyone globally and some call it the Black Swan Event. To what extent has the pandemic affected the original launch plan of the Group? What has been done to make up for it?

We strongly believe that this pandemic is no different from any other global crisis, it would only impact businesses that are weak, that are problematic, that are not willing to disrupt themselves. And for us, the BN Group, it is not a challenge, but an opportunity.

When the pandemic started, as countries around the world began to close their borders and limit travel, we quickly realized that major countries in Europe and America would restore their positioning as regional centers, and it would be essential to set up a local headquarter in each respective region. Therefore, we accelerated the merger of the Bellagraph Nova Group and immediately decided to move our new headquarters to Paris given it is in the heart of Europe. This has allowed us to seize opportunities in expansion and to further our investments, as global financial institutions embark on unprecedented aggressive expansionary fiscal and monetary policy stimulus strategies.

The New Social Technology Revolution – Panel Discussion With Bellagraph Nova Group Founders And Barack Obama On Their Ambitious Quest To Seize The Opportunity Of A Lifetime In The Post Pandemic World.
The New Social Technology Revolution – Panel Discussion With Bellagraph Nova Group Founders And Barack Obama On Their Ambitious Quest To Seize The Opportunity Of A Lifetime In The Post Pandemic World.

Question 3) We understand that Ms. Evangeline Shen, Mr. Nelson Loh and Mr. Terence Loh or better known as the successful trailblazing trio have been actively engaged in merger talks since early 2019 and despite in the midst of an unprecedented global pandemic crisis, the three of you have still decided to complete the merger. Can you elaborate more on this? How was this achieved during the pandemic especially when we have witnessed several landmark deals being cancelled as a result of Covid 19 (for example the pending LVMH acquisition of Tiffany running into problems)?

The past eighteen months have posed many challenges for us to close the deal. There is the ongoing trade war between China and the United States, as well as several geopolitical issues around the world. At the same time, the world seemed to take a heavier hit and started to crumble when Covid 19 hit the global economy. These challenges are unprecedented and may appear insurmountable to those entrepreneurs and global leaders who are weak, who are narrow minded and who have limited vision. But we believed deep in our hearts and minds, that looking back at history, not only is this Covid 19 pandemic not unprecedented, today’s crisis is insignificant compared to what happened during 1914 to 1945.

Mankind has overcome much worse. During the 20th century, there was World War I, and then followed by the decade long Great Depression era, and then soon afterwards World War II befell. The world economy was in a much worse state than now, but it was during such crisis, that the United States became the world’s most powerful country, and its economy kept growing until today.

The three co-founders of the Bellagraph Nova Group have this strong belief, that the Coronavirus situation should not be construed as another challenging crisis. It is in fact the opportunity of a lifetime for the BN Group. For a company like us, which has deep experience and capabilities in social media and social networks and coupled with the fact that our company not only possesses state-of-the-art technological innovation, we also strongly value human rights. We are proud that the group focuses on advancing human civilization as our key initiatives, and today’s global platform provides the best opportunity ever to promote our values and beliefs. This is where our strength lies.

It is not just talk, but all about the actions we take, demonstrating our beliefs and values. The Bellagraph Nova Group appointed the only female amongst the three co-founders, Ms Evangeline Shen as the Group’s chairman, engaged former LVMH group executive Nereides de Bourbon as global marketing and investor relations director, who is a member of the LGBT committee. The Group also appointed Monica Bellucci, the global renowned Hollywood celebrity, on the board as a non-executive Director focusing on sustainability and the group’s charity foundation effort.

In addition, the company has also acquired former L’Oreal Group’s network spokesperson Badara Ndiaye as the company’s brand planning and product spokesperson. The BN Group is providing a prime example, by providing opportunities equally to the most talented individuals regardless of their gender, race, religion, and sexual orientation. This has demonstrated our initiatives of truly promoting humanity and advancing civilization. It is not only our vision, but also our responsibility as a leading global enterprise to be a role model for all the other enterprises.

Question 4) In order to still be able to expand and launch new projects during times like this, one probably has to have very deep pockets. And to continue to go ahead with business expansion, you need to be able to afford to “bleed” during this long-lasting global crisis period. Do you agree? Why or why not?

With a total of 31 major subsidiaries, operating in more than 100 countries and employing over 23,000 employees worldwide, the Bellagraph Nova Group is an established global conglomerate. Not only does the company have sufficient capital to deploy, it also has strong presence in human resources and operational infrastructure, especially in Europe and the US. It is not only funds that are required to plan for business expansion nowadays but more importantly one also requires courage and visionary strategies.

Our BN group already possesses very well-organized infrastructure in Europe, North America, Africa and Asia. The BN Group has adapted quickly to maintain a highly profitable business model across all its entities while still being able to either enhance the valuation for its respective holdings. Not surprisingly, the successful track record of the BN Group has not gone unnoticed and has caught the eye and impressed global investors around the world from the Middle East to the United States.

Through one of the BN Group’s entities, Bellagraph Jewelry’s client relationship management, the King of Saudi Arabia, the King of Qatar, and Queen Mother of Qatar have expressed their interest on investment opportunities and collaborations. Through our extensive work with the Obama Foundation charitable initiatives as well as ongoing effort to promote human rights, we have attracted several global companies such as the likes of Citibank, JP Morgan, and other established Global Fortune 500 companies to partner with the BN Group.

Our BN group has unparalleled resources globally in this new digital economy. One of the BN Group’s key strengths is its ability to brand and market its vision and business successes digitally across social media worldwide. Based in North America, the Bellagraph Media production team garners over 20 million hits every seven days. This viewership exposure is comparable to video playback analytics similar to the likes of Apple during the release of its latest iPhone model. Such capability is vital to this era we call the “new social technology revolution” and this is the basis of our incredible success.

ABOUT BELLAGRAPH NOVA GROUP

Sustainability, diversity and ethics, constitute the cornerstone of BN Group’s model and compliance policy for its executives, employees and stakeholders. Our emblem is the butterfly, the symbol par excellence of endurance and perennial metamorphosis.

The Group is headquartered in the famous 10 Place Vendôme in Paris, France. With 31 entities in over 100 countries, the combined US$12 billion revenue Bellagraph Nova Group is the world’s fastest growing 360° lifestyle platform.

Photo – https://photos.prnasia.com/prnh/20200713/2855914-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200713/2855914-1-b?lang=0
Logo – https://photos.prnasia.com/prnh/20200707/2850183-1logo?lang=0

Livestream Shopping Market Contributing 24.2 Billion RMB in China’s Mid-year Shopping Festival — Released by O’Ratings

SHANGHAI, July 13, 2020 — O’Ratings, a third party monitor, released the data of Chinese mid-year shopping festival on July 1st. It showed that live-stream shopping hit another new record in China, contributing 24.2 billion RMB (449.5 million US$) sales during the recent mid-year shopping campaign. Live streaming is becoming a staple of e-commerce product promotion.

Live stream shopping has been developed since 2016 by e-commerce platforms in China and set off an upsurge in 2018 when popular live-streamers could sell more than 300 million RMB (43 million US$) a year and their online viewers could reach 10 million at one time. During the pandemic, bridging the gap between the source of goods and consumers, the Chinese government encouraged people to use live-streaming to sell unsalable products caused by massive lockdowns and upgraded the live-stream shopping industry. Now live stream is indispensable for product marketing in China. 

O’Ratings monitored 806,000 live streaming chat rooms across different platforms on June 18th, China’s mid-year shopping festival, and it showed that the amount of sales was over 3.5 billion RMB (500.6 million US$) and 412 million viewers watched live streams on that day. Taking the sales since the very beginning of 618 shopping campaign into account, the total sales was 24.2 billion RMB (3.4 billion US$). The top 3 best-selling categories on Taobao were jewelry, clothes and food, and the top 3 on Douyin (Chinese TikTok) were food, mother and baby products and cosmetics.

Five indexes O’Ratings are monitoring

  • Live-streaming ratings 
  • Peak Viewers 
  • Market share 
  • Sales index 
  • Engagement index

Key findings of O’Ratings’ monitoring data

  • Many brands pay celebrities a lot for product promotion, but professional live-streamers’ performance is much better than celebrities’. O’Ratings picks 30 popular live-streamers and 30 celebrities, and analyzes their 10 week live-streaming performance. It shows that professional live-streamers’ sales index was 8 times of celebrities’. 
  • Timing is very important when retailers choose live-streamers to sell products. After calculation, it finds that every product is sold at a fixed frequency. Those fast-consuming products have a higher frequency than durable ones. For example, snacks’ frequency is one day, while cellphone’s is 55 days. Because if a live-streamer sells cellphones today, the fans do not need to buy another phone for some time. When retailers promote their products by live stream, they should notice the time period of product and whether the live-streamer has sold the same kind of product recently. 
  • Non-standard product, like jade and pets, have great potential in live-streaming. With the live stream market taking shape, popular live-streamers who are preferred by retailers, occupy most of the market share. But they can not substitute live-streamers who sell unique products. For example, a baker streams how he makes a cake and sells it. 

About O’Ratings

O’Ratings is a third party live-stream monitor. O’Ratings records live stream data across different platforms, analyzes the latest trend and provides insights of live stream industry.