Digital Asset DirectHoliday Gift Guide
News Media Group, Inc.
Contact Details Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
November 24, 2023 06:00 AM Eastern Standard Time
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Digital Asset Direct
News ReleaseJoint Climate Accounting Solution by Persefoni Japan and HULFT Proven to Reduce CO2 Emissions
HULFT,Inc.
HULFT announced today the successful test of Persefoni’s climate management and accounting platform (CMAP) combined with leading cloud data integration solution HULFT Square. The test was recently completed in Japan by a team of industry solution builders at Persefoni and Saison Information Systems, the parent company of HULFT. The team proved that Persefoni and HULFT solutions working together can greatly reduce the time and resources it takes to calculate CO2 emissions and complete the other reporting and analytical tasks in the climate accounting workflow. “The wide majority of SaaS, ERP and other enterprise applications do not specifically address the requirements for climate accounting, which slow results and require more IT resources,” said Masa Maruyama, CEO of HULFT. “If organizations are serious about achieving carbon neutrality, they can achieve their goal faster and more efficiently if they use technology solutions that are built specifically for the climate accounting use case.” Persefoni is a leading CMAP and a certified partner of the Partnership for Carbon Accounting for Finance. Its platform features highly accurate carbon accounting at the financial reporting system level. Underneath the application layer, HULFT Square provides data integration “plumbing” to acquire and transform all of the data feeds across the organization and from business partners that are required for climate accounting. With the complex volume, variety and velocity of Scope 1, 2 and 3 data, organizations benefit from a highly flexible cloud-based data integration platform. Test Result Findings: Carbon Accounting Workload Reduced by At Least 50% The process of calculating CO2 emissions can be divided into four major steps: collection of economic activity data, data transformation, structuring the data and creating visualizations and analyses. In the past, this effort has required a lot of manual work across disparate business applications and data integration methods. But with Persefoni, handling all of the application work and HULFT Square providing unified data integration, the entire effort is reduced by at least 50% and the reporting results are more accurate. About Persefoni Persefoni is a leading Climate Change Management and Carbon Accounting Platform (CMAP) company. Persefoni's SaaS-based solution, which is compliant with the PCAF and GHG Protocol, enables corporations and financial institutions to conduct climate change-related disclosure activities required by domestic and international stakeholders and regulators with a high degree of reliability, transparency, and convenience. Persefoni's platform is an "ERP for carbon" that centralizes Scope 1 through 3 carbon management (across your entire supply chain, domestic and international), allowing companies to proceed with carbon accounting and management with the same rigor and reliability as traditional accounting practices. Companies can proceed with carbon accounting and management operations with the same rigor and reliability as conventional accounting operations. About HULFT, Inc. Today’s enterprise works hard for data. IT teams spend excessive amounts of time and money manually connecting disparate silos of data, which are often insecure. HULFT, a division of Saison Information Systems (TYO: 9640), has helped more than 10,000 global customers automate, orchestrate, and accelerate the secure flow of information at scale. HULFT helps IT and business leaders quickly find, secure, organize, transform, and move the correct information – automating the entire business processes of data flow and unlocking value in a sea of information. HULFT is the engine that makes data work. For more information, please visit https://hulftinc.com/. Contact Details HULFT, Inc Kurt Foeller kfoeller@hulftinc.com
November 22, 2023 10:01 AM Eastern Standard Time
News ReleaseCyber budgets fail to meet expectations with only 1% increase on previous year in the U.S., finds S-RM
S-RM
· In 2023, the average cyber budget for large organizations grew by 3.1% YOY globally to USD 27.10 million — but only by 1% YOY in the U.S. · The increase falls below the 5% rise anticipated by Senior IT professionals and their C-suites cited in S-RM’s Cyber Security Insights Report 2023 · Nearly a third (31%) of organizations say lack of budget is a key cybersecurity challenge S-RM, a leading global corporate intelligence and cybersecurity consultancy, today published its Cyber Security Insights Report 2023, which reveals that this year’s cyber budgets for large organizations are falling short of expectations. In 2023, globally the average cyber budget grew to USD 27.10 million, up 3.1% from USD 26.30 million in 2022. In the U.S., budgets grew only by 1%. S-RM’s research shows that senior IT professionals and their C-suites had anticipated a more substantial increase of 5%, which would have seen budgets reach USD 27.60 million. The appetite for more budget comes after a year of rising operational costs – a result of wider economic turbulence – and a growing cyber threat following rapid advancements in generative AI. Cybersecurity departments want more budget to upskill employees (42%) and recruit additional skilled personnel (41%) to accommodate this rising threat. On average, cyber budgets make up a quarter (25%) of an organization's overall IT budget, marking a 1% decrease in share from 2022. This allocation varies across sectors, with Retail being the most generous (28%) and Energy & Utilities allocating the least (18%) toward tackling cyber threats. Navigating tightened purse strings Lack of budget was cited as a key challenge by nearly one third (31%) of organizations. To navigate this, cybersecurity teams have been prioritizing spend in the most ‘value for money’ areas. For the third consecutive year, investment in cyber technology topped the list, though fewer organizations highlighted technology as delivering the value commensurate with its cost in 2023 (49%) than in 2022 (58%). This dip can be attributed to a growing awareness that alongside cybersecurity technology, organizations need to invest in governance and personnel to effectively enable and manage new tech. This is a view more prevalent among IT professionals charged with implementing cyber tech solutions, with only 43% citing technology as ‘high value for money’ compared to 56% of C-suite executives. The findings reflect a misalignment of expectations between the operators of cyber technologies and those a step removed from their day-to-day applications. Organizations are adopting several other strategies to manage cybersecurity with restricted budgets: IT and security optimization - Identifying cost reduction opportunities by making existing processes more efficient to allocate budget for more critical initiatives. Future-focused investment - Investing now in security initiatives for long-term cost savings. Outsourcing - Contracting out IT and security functions to Managed Service Security Providers (MSSPs) or virtual Chief Information Security Officers (vCISOs). Paul Caron, Head of Cybersecurity, Americas at S-RM, said: “It’s reassuring that cybersecurity budgets are still rising in these challenging times, but this level of increase is simply not enough to tackle the growing cyber threat. This year’s increase has failed to meet the expectations of cyber teams and reveals that cyber security may be taking a back seat as its share of the overall IT budget declines. “Navigating ongoing skill shortages and investing in training and development of teams comes at a cost, but cyber professionals are not receiving the budget they need to deliver on these critical initiatives. Organizations will have to continue being cautious with cyber security spend, identifying those ‘value for money’ areas that will enable them to manage emerging cyber threats with tightened purse strings.” For more information, access the full 2023 Cyber Security Insights Report on S-RM's official website here: https://www.s-rminform.com/cyber-security-insights-report-2023 ENDS Notes to Editors: Methodology: The S-RM Cyber Security Insights Report 2023 follows on from our 2022 report, where we seek to understand the specific cybersecurity challenges faced by C-suite leaders and senior IT decision makers. For the 2023 report, we interviewed 602 C-Suite and senior IT professionals on the most pressing cyber challenges, cyber security incidents, and cyber budgets over the past year. For more information, access the full 2023 Cyber Security Insights Report on S-RM's official website here: https://www.s-rminform.com/cyber-security-insights-report-2023 About S-RM S-RM is a global corporate intelligence and cybersecurity consultancy with expertise in insurance, cybersecurity, and cyber response. Headquartered in London, S-RM works across 9 international offices and advises companies ranging from blue-chip corporates to large financial institutions, and beyond. To find out more about S-RM, visit https://www.s-rminform.com/ Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com
November 20, 2023 02:00 PM Eastern Standard Time
Digital Asset DirectWHAT’S HOT THIS HOLIDAY – BLACK FRIDAY & CYBER MONDAY DEALS
News Media Group, Inc.
Contact Details Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
November 16, 2023 07:00 AM Eastern Standard Time
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News ReleaseNew Alvarez & Marsal Fall 2023 Consumer Sentiment Report Highlights Impacts of Inflation, Recession, Consumer Skepticism
Alvarez & Marsal Consumer and Retail Group
Consumers are planning to spend less on indulgences and prioritize basic needs compared to Spring 2023 Over half of consumers are shopping second- hand which is driven by low prices in second- hand markets This holiday season consumers will spend more on gifts versus Fall 2022 and will prioritize gifts for others over gifts for themselves Global professional services firm Alvarez & Marsal’s Consumer and Retail Group (A&M CRG) today released its newest consumer report, Consumer Sentiment Survey Fall 2023, which looks at the impacts of inflation and resultant changes in consumer spending over the last year, as well as spending expectations for the coming six-month period. This is the fifth chapter of its bi-annual Consumer Sentiment Report, based on a survey of 1,500+ consumers matching the U.S. adult population according to gender, age, ethnicity, region and income. The report covers various changing behaviors in response to personal finances and the state of the economy, including consumers’ shopping priorities by category, concerns over rising prices, holiday plans, and other factors that will affect purchase decisions this fall/winter, and more. “One of the objectives of our semi-annual survey is to understand how consistent economic concerns impact consumer spending behavior, channel preferences and overall confidence in their financial security over time,” stated Chad Lusk, Managing Director at Alvarez & Marsal’s Consumer and Retail Group. “This cycle’s survey showed us that while consumer outlook was more favorable in Spring 2023, consumers are more pessimistic going into the winter months and plan to be more cautious with their spending. Despite this, we are seeing a year-over-year benefit in that consumers are still planning to participate more in holiday shopping when compared to Fall 2022.” The study found that: Consumer expectations are weaker this fall, they expect to save less money and have less money compared to Spring 2023 While we are seeing consumers plan to spend more money on basic needs, they are planning to spend less on experiences and indulgences. 67% of consumers believe that prices will continue to rise, and 65% believe the U.S. will be in a recession within the next year Consumers are more highly motivated to join loyalty programs through special promotions and discounts and redeemable rewards “Retailers should be aware of this cautious consumer mindset and manage inventory appropriately to ensure assortments are in-line with consumer spending plans,” said Lusk. “Smart retailers should remain flexible and be prepared to offer discounts and promotions in non-essential categories, as the season unfolds.” To download a pdf of Consumer Sentiment Survey Fall 2023, please visit: https://alvarezandmarsal-crg.com/insight/consumer-sentiment-survey-fall-23/ About Alvarez & Marsal Consumer Retail Group The Alvarez and Marsal Consumer and Retail Group (CRG) is a management consulting firm that tackles the most complex challenges and advances its clients, people, and communities toward their maximum potential. CRG combines the best of A&M’s broader firm's bias toward action and practicality with deep consumer and retail industry experience. CRG partners with businesses across a wide range of categories including Food & Beverage, Beauty & Personal Care, Grocery, Mass Merchandise, and Apparel & Footwear to drive significant performance improvement. Contact Details David Schneidman dschneidman@alvarezandmarsal.com Company Website https://www.alvarezandmarsal.com/industries/retail/retail
November 15, 2023 09:00 AM Eastern Standard Time
News ReleaseMinuteman Press Franchise Owner Sherri Winslow Reflects on Over 20 Years in Palm Desert, CA and Joins President’s Club
Minuteman Press International Inc
Sherri Winslow is the owner of the Minuteman Press franchise in Palm Desert, CA since April of 2002. When her husband suddenly passed away in 2012, Sherri made the difficult decision to carry on as she took a more prominent role in the business as the sole owner and operator. Since then, Sherri has continued to build her business and in 2023 she was honored and acknowledged as one of the newest members of the Minuteman Press President’s Club. As she reflects on her accomplishments, Sherri shares her thoughts on 20-plus years and joining the President’s Club, keys to success and longevity, advice to others, and more. Celebrating 20 Years + Joining Minuteman Press President’s Club In 2022, Sherri celebrated 20 years of business ownership for Minuteman Press in Palm Desert. Today, in 2023, Sherri is now recognized as a member of the Minuteman Press International President’s Club for achieving yearly gross sales of over $1 million in 2022. Sherri shares, “Reflecting on our 20 years in business makes me realize that we were fortunate to partner with a good franchisor. Very few small businesses were able to make it through this period without a strong management and operational program to follow. That along with proper training and support from people that have been in the print business have made a huge impact. We will always be thankful for this.” She continues, “In 2023, I was proud to join the Minuteman Press International President’s Club. We have had fairly steady growth over the past 20 years. We started out making $19,000 in our first month after buying an existing business. In 2012, I lost my husband and I personally went from part-time to being the boss. My staff and Minuteman Press local support led by RVP Dan Byers helped me through one of the most difficult times in my life. It was a very foggy year but we made it. In the past few years, we were getting close to the $1 million milestone and we set that as our goal last year. My staff and I worked very hard to make sure we reached that goal. A lot of hard work and determination helped us get there.” When asked about her keys to success and growth, Sherri says, “Our longevity and success is primarily due to our staff and customer service. We have had many referrals through the years without asking. Now that we have been through the last training session, we plan to start asking for referrals through different channels. Other contributing factors to our success are related to our direct & internet marketing along with expanding our services & products over the years. We added wide format in the beginning, then signage, direct mail, and blueprints.” Sherri continues, “There are two other areas worth mentioning that I feel have been successful for us. The first has to do with Google Reviews, which has been a point of focus at regional meetings. At one meeting before the pandemic hit, there were around 50 people in attendance from many franchises in Southern California. We talked about how important Google Reviews are. We shared materials used to get reviews and it really blossomed here. I get a lot of new customers because they did a search and noticed how many good reviews we have.” She further shares, “Next is having good storefront and building signage. My shop is on the main highway that people travel from one end of the valley to the other. You can’t miss my shop because we went big and bold with the signage. I would do more, but the local laws don’t allow it. People always tell me they find me from our signage.” Printing Industry & Community/Franchise Support Sherri shares her insights on the printing industry today, saying, “Printing remains vital to businesses today because it provides a connection that stays with the consumer as opposed to the internet or email. Your printed materials end up in someone’s hand, which can make that lasting impression. How many people swipe left or delete emails without reading them? They will always take the time to look at a business card, postcard or holiday card that they receive.” In Palm Desert, Sherry says, “We are a small set of cities that hold large events and conventions. This brings an increase to our population that is about triple the amount during certain months of the year. Thanks to our community, our key growth areas have included signage, blueprints, convention printing and direct mail.” She adds, “We would not be where we are today without the local franchise support, training and the IT department that Minuteman Press International provides. We owe a lot of our success to this.” Rewards & Advice for Others As she looks back on over 20 years and reflects on the rewards of owning a business, Sherri says, “I would say my biggest personal reward is that I have been able to achieve everything that I have wanted to in my life. I can’t really ask for more personally except for time. My biggest professional reward has been reaching that $1 million goal and making the Minuteman Press President’s Club.” As for what advice she would give to others, Sherri shares, “Make sure you are active with the quote process and follow-up. Understand the difference between shoppers (who are getting 3 quotes from various vendors) and buyers. I recommend you give the customer a day to digest the quote they received, then follow up and make sure you answer their questions. Lastly, make sure you let them know you want to meet their price point or their budget constraints if you do… Again, the difference between a shopper and a buyer will make the difference on whether you will want to meet their budget constraints.” Minuteman Press in Palm Desert is located at 73-660 Highway 111, Palm Desert, CA 92260. For more information, visit their website: https://minuteman.com/us/locations/ca/palm-desert/ Learn more about #1 rated Minuteman Press franchise opportunities and read Minuteman Press franchise reviews at https://minutemanpressfranchise.com Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com
November 14, 2023 10:00 AM Eastern Standard Time
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News ReleaseToolsGroup Positioned as the Leader in the SPARK Matrix for Retail Forecasting and Replenishment by Quadrant Knowledge Solutions
ToolsGroup
ToolsGroup, a global leader in retail and supply chain planning and optimization software, is proud to announce it has been named the technology leader in the SPARK Matrix ™ analysis of Retail Forecasting and Replenishment (RF&R) by Quadrant Knowledge Solutions (QKS). The Quadrant Knowledge Solutions SPARK Matrix: Retail Forecasting & Replenishment (RF&R), Q4, 2023 includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading Retail Forecasting and Replenishment (RF&R) vendors in the form of its SPARK Matrix. It gives users strategic information to evaluate vendor capabilities, competitive differentiation, and market position. According to Avinash Singh, the Analyst at Quadrant Knowledge Solutions who researched ToolsGroup and its dynamic JustEnough retail solution, “ToolsGroup has been placed as the leader in the SPARK Matrix: Retail Forecasting and Replenishment owing to its comprehensive and innovative RF&R solutions, a compelling vision and roadmap, an extensive RF&R vendor ecosystem, year-on-year growth, and comprehensive product offerings with in-depth domain experience.” This announcement comes on the heels of other recent and exciting developments in the ToolsGroup ecosystem since its acquisition of JustEnough, with the company being named a leader in the SPARK Matrix for Inventory Optimization and bolstering its retail and supply chain solutions by acquiring Evo, a provider of responsive artificial intelligence solutions. According to Sahil Gupta, Chief Product Officer, “Our intense focus on marketplace trends, customer needs, and advancements in the use of AI have enabled us to enhance the already powerful JustEnough solution. By combining real-time planning and execution capabilities with AI, we are furthering our vision to help organizations navigate the supply chain with the ability to sense and respond to changes in customers’ needs in real time and automate the optimal distribution of inventory.” “ToolsGroup is thrilled to be recognized as the leader in retail forecasting and replenishment by QKS,” said ToolsGroup CEO, Inna Kuznetsova. “Our customer-centric focus keeps us at the vanguard of innovation and helps us provide the software advancements and next-generation AI our customers rely on to achieve real-world KPIs. We are dedicated to continuing these endeavors and delivering enhanced business performance to retail organizations worldwide.” Download the report and read more about ToolsGroup’s industry accolades HERE. About Quadrant Knowledge Solutions Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients as the strategic knowledge partner in achieving business transformation goals with Strategic Business and Growth Advisory Services. Quadrant’s research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, visit: https://quadrant-solutions.com/market-research/ About ToolsGroup ToolsGroup’s innovative AI-powered solutions enable retailers, distributors, and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision making and unlock powerful business improvements in forecast accuracy, service levels, and inventory - delighting customers and achieving financial and ESG KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com. Contact Details MKPR Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Quadrant Knowledge Solutions Mr. Ajinkya Ingle +1 978-605-1066 ajinkya@quadrant-solutions.com Company Website https://www.toolsgroup.com
November 14, 2023 09:30 AM Eastern Standard Time
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News ReleaseClaravine AI Revolutionizes Marketing Metadata Management with New AI-Powered Solutions
Claravine
In an industry-first move, Claravine, The Data Standards Company, today launches Claravine AI, a suite of solutions designed to transform how marketing teams work. This innovative offering is set to redefine the landscape of marketing data management, empowering teams with unparalleled control and insight into their marketing taxonomy and metadata while collaborating across the content supply chain. Claravine AI is powered by the company's proprietary technology to automatically classify and understand content, regardless of its format or structure. As generative AI’s adoption continues to skyrocket, marketers are still figuring out how to implement or update current data strategies. According to a recent study by Claravine and Advertiser Perceptions: Two in five already use AI for ad creative development and another one in two are considering its use. Organizations acknowledge that properly tagging and tracking ad creative is increasingly complex and is critical to measuring and improving performance. Yet, today, only a minority (21%) feel very confident in their ability to keep track of and tag AI-generated creative assets. “Claravine AI isn’t just a tool; it’s a revolution for marketing teams,” said Verl Allen, CEO of Claravine. “With Claravine AI, organizations can automate the classification of the creative assets used for campaigns, enabling a much more precise, efficient, and scalable way for measuring campaign performance. This breakthrough not only enhances campaign measurement precision but also liberates teams to concentrate on strategic initiatives, tailoring assets to a variety of audiences.” Claravine AI doesn’t just organize data – it builds bridges across the content supply chain. By establishing a universal language for collaboration, it elevates the integrity and accuracy of marketing data, paving the way for smarter, data-driven decisions. The addition of Claravine AI to The Data Standards Cloud has resulted in the following new capabilities: Content Comprehension & Enrichment: Unlock the full potential of content across platforms such as Digital Asset Management systems, enriching and activating data for deeper analysis. Content Similarity Detection: Identify similar content from assets across the marketing ecosystem, simplifying workflows and establishing a consistent framework for marketing taxonomy and metadata application. Content & Creative Classification and Livestreaming API: Enhance editorial decisions, yield management or even determine brand safety in real-time, delivered through a flexible API. Claravine's innovation hasn't gone unnoticed. For the second year in a row, the company was included on AdExchanger’s Programmatic Power Players list, as well as awarded the 2022 AdExchanger Award for Best Data Technology. Claravine was also included in the 2022 Gartner® Cool Vendors™ in Marketing Data & Analytics Report. Don’t just adapt to the future; shape it with Claravine AI. Transform your marketing data management and creative processes today, visit www.claravine.com/ai. About Claravine Claravine is The Data Standards Company aiming to give people, teams and technology a shared understanding of their data. Claravine helps brands and agencies deliver on the promise of modern marketing by standardizing taxonomies, naming conventions, and metadata across all digital experiences at the source of data creation, supercharged by AI. The Data Standards Cloud empowers a proactive approach to marketing metadata naming conventions and taxonomy for fast, accurate, and rich business insights that help deliver the experiences customers want. Claravine partners with a quarter of the Fortune 100 to define, apply, and connect standards across their ecosystem for faster decisions, greater agility, and increased ROI. Contact Details Kite Hill PR Michael Kocher +1 704-960-2295 michael@kitehillpr.com Company Website https://www.claravine.com/
November 14, 2023 09:00 AM Eastern Standard Time
News Releaseetaily lands $17.8M for commerce enablement platform powering global brands in Southeast Asia
etaily
The Southeast Asia (SEA) ecommerce market is growing rapidly and is projected to reach $230B (in gross merchandise value) by 2026. Helping brands around the world tap this opportunity, commerce platform enabler etaily is today announcing a $17.8M series A funding round as it scales its end-to-end ecommerce entry platform for brands to seamlessly engage audiences across SEA. The funding round was led by Chinese and Taiwanese PE firm SKS Capital and co-led by Singapore’s Pavilion Capital. Other investors are Japanese SBI ICCP Fund and Kaya Founders. The round also saw participation from the Magsaysay Family, Chan family, Foxmont Capital and JGDEV, the corporate venture capital arm of JG Summit Holdings. etaily’s cap-table also includes other renowned SEA retailers and conglomerates such as the Ayala Corporation, the Cheng family behind the department store chain Landmark, as well as renowned angel investors including Paulo Campos, former Co-Founder and CEO of Zalora and Anthony Oundijan, Managing Director and Senior Partner of Boston Consulting Group. Headquartered in the Philippines, etaily has quickly established itself as a pathway for brands seeking to sell their goods online across SEA. etaily is powered by a proprietary operating system for end-to-end commerce technology. etaily provides unique end-to-end distribution solutions in ecommerce and omnichannel, for global consumer brands in the region as well as its own brand portfolio. This ecosystem spans the entire customer journey, from development of lifestyle products through in-house branding capabilities to delivery to a local and regional customer base from etaily’s asset light warehouse network. Founded in 2020 by Alexander Friedhoff, former Zalora team member, etaily’s vision is to help global consumer brands selling online. Today, etaily has served more than 50 global consumer brands and processed over 10M orders on platforms such Lazada, Shopee and direct-to-consumer brand.com online stores. Gross sales at etaily in 2023 have tripled and are on track to reach $100M over the coming years. Its portfolio of exclusive brands currently comprises Levi’s, Crocs, Skechers and Reckitt, bringing its total brand count to more than 50, managed on +200 storefronts. Its own brands range from categories such as pets supplements, health, personal care and food and beverage. Alexander Friedhoff, Founder & CEO of etaily commented: "For the last three years, we've focused our passion into crafting something great at etaily – an all-encompassing commerce powerhouse. From the very birth of our lifestyle products to their swift delivery through our state-of-the-art operations ecosystem. Our unique digital approach sets us apart, making etaily the architect of digital brands and retail. Today, people in the region buying something online from the leading retail and digital brands such as Crocs, Levi’s, Skechers, Fila and many others - all of it is being powered by etaily’s infrastructure.” “With our unbeatable ecosystem, more than ever demanding online-first strategy, and adaptable digital operations, we're poised to transform retail in the Philippines and SEA. As the tides of e-commerce reshape the retail landscape, etaily's agile, fully digital platform promises brands a successful journey into the future.” Bain & Co has forecasted that the number of digital consumers in SEA is projected to hit 402 million by 2027, up from an estimated 370 million in 2022 with the Philippines leading the growth, followed by Vietnam and Thailand. The Philippines is now expected to grow the fastest in 2023 among developing economies in East Asia and Pacific according to an updated World Bank growth outlook for the region. These reports come hot on the heels of the Philippines being recognised as the fastest growing ecommerce market globally in 2023 having grown 25% year on year. There are several factors driving the ecommerce market in the region. Alexander Friedhoff added: “Unlike markets such as the US and Europe, where population growth is at a historic low — or in China’s case, declining — SEA’s consumer pool is expanding fast. In fact, the region’s working age population is set to grow by 23 million people by 2030, according to Bain & Co. and Meta’s 2022 SYNC SEA report. The Philippines already has the youngest population in SEA. At the same time, household incomes are expected to rise, with 51 million new high and upper-middle class households to emerge by 2030. This combination of a burgeoning working population and higher household incomes will lead to an uptick in consumption. SEA will add about 140 million new consumers by 2030, representing 16 percent of the world’s consumers.” Alexander Friedhoff added: “Given the current trajectory, with ecommerce as a percentage of total sales surging, SEA may well be poised to become the ‘next China’ in terms of e-commerce growth potential. Although SEA consists of several distinct markets without the same geographic cohesion and language uniformity as China, commerce platform companies such as etaily have made it convenient for brands to sell into multiple markets through localized operations, brand, data and technology capabilities.” etaily will deploy the fresh capital to deepen its presence in SEA, enhance its distribution platform for brands, and expand the brand portfolio including own brands and licenses of international lifestyle brands. In addition, further investments will be made into its proprietary technology stack including its operating system, data analytics and AI platform etaily clarity. SKS Capital founder Jack Chen commented: "We are excited to participate in the exciting consumer transformation taking place in the Philippines and SEA. We are dedicated to collaborating with outstanding and promising organizations that are poised for growth. etaily's asset-light strategy, along with their extensive knowledge of eCommerce, supply chain, and their utilization of data-driven insights to understand consumer behavior and demand, offer significant prospects for incorporating advanced omnichannel technology solutions into brand operations. This will enable substantial growth in the near future. Our brand portfolio is ready to be distributed by etaily.” About etaily Founded in 2020 and headquartered in the Philippines, etaily has quickly established itself as a pathway for brands seeking to sell their goods online across SEA. etaily is powered by a proprietary operating system for end-to-end commerce technology. In addition to building their own brands, etaily provides a unique end-to-end direct-to-consumer e-commerce solution for global consumer brands. This ecosystem spans the entire customer journey, from development of lifestyle products through inhouse branding capabilities to delivery to a local and regional customer base from etaily’s asset light warehouse network. For more information, please visit https://www.etaily.com Contact Details etaily Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.etaily.com/
November 14, 2023 08:00 AM Eastern Standard Time
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