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Online discounts best way to boost sales amid slump in purchasing power, analysts say

first_imgTopics : “The trend will continue this year, but we expect sales volume to go down due to people’s declining purchasing power,” he said during a webinar on Tuesday, adding that holidays including Christmas and Valentine’s Day also saw slight increases in online sales.“That is why e-commerce platforms should still utilize these days for promotional events,” he said.Mulya went on to say that while many people have seen a loss of income due to pay cuts, furloughs and lay-offs during the pandemic, some people have disposable income, as remote working enables them to save on transportation and apparel spending.Household spending, which accounts for more than half of gross domestic product (GDP), fell 5.51 percent year-on-year (yoy) in the second quarter, as the economy contracted 5.32 percent for the first time since 1999. A recent survey conducted by the Demographic Institute of the University of Indonesia (UI) in collaboration with ride-hailing firm Gojek showed that 85 percent of micro, small and medium enterprises (MSMEs) surveyed had seen a decrease in sales between March and June.However, according to a survey by management consulting company Redseer in May, Indonesia’s e-commerce sector is projected to grow 50 percent yoy to reach $35 billion this year from $23 billion in 2019, as the pandemic creates a new normal in shopping habits.The survey also found that around 30 percent of the survey respondents said they were new to online marketplaces, 40 percent of whom said they would continue to use e-commerce after the pandemic was over.Kredivo general manager Lily Suriani also said that discounts were valued by consumers as many waited for prices to drop before buying certain items.She went on to say that consumers were now increasing their basket sizes on e-commerce platforms, especially millennial and Gen Z buyers, who account for 85 percent of online transactions.However, Lily also said older generations also showed confidence in e-commerce, as people on average made purchases on online shops 17 to 20 times annually regardless of age group.“People are now more confident in using e-commerce even to buy gadgets and automobiles. I think this trend will continue,” she told the press.However, Indonesia E-Commerce Association (idEA) chairman Ignatius Untung said that e-commerce platforms should not go overboard in giving out discounts, as it was not a sustainable business strategy.“The pandemic has pushed people to stay indoors and turn to e-commerce for shopping. So even without discounts, e-commerce has gained good traction,” he said.Kredivo Marketing and Alliances head Indina Andamari Said that around 70 percent of the platform’s loans went to e-commerce payments and to cater to the growing number of online shoppers.The company is aiming for 80 percent of its loans to be disbursed for online shop payments this year.“We also plan to create a new loan product for small and medium enterprises [SMEs], but we are still formulating it,” she said.The company has reported it has almost 2 million active users, an increase of 42 percent since January.center_img Discounts and promotional events will be important to lure consumers to e-commerce platforms amid a decline in purchasing power during the pandemic, expert and business player have stated.Katadata Insight Center research director Mulya Amri said that historically, promotional events such as last year’s Single’s Day in November as well as Harbolnas (National Online Shopping Day) in December 2019, increased online sales by 3.7 times and 5.3 times, respectively.The figures are based on a joint study between media and research firm Katadata and credit lending app Kredivo that looked at 10 million e-commerce transaction by the app’s users last year.last_img read more

Rage Chassis reigns as IMCA Manufacturers’ Cup winner

first_imgRage paced point standings in its home North Central Region. Shaw won in its title sponsored Western Re­gion, GRT repeated in the Central Region, BMS Race Cars was best in the South Central Region and Harris was first in the Eastern Region. Two-time and defending Cup champion Shaw Race Cars was second, with eight drivers totaling 33 points. Fifteen builders were entered in this year’s contest. Last-year’s Cup runner-up, Rage led the way with 41 points, tallied by seven different drivers. “The Rage brand has increased in popularity among racers in recent years, in part due to the success they’ve experienced on some of IMCA’s biggest stages,” noted Kevin Yoder, director of marketing for IMCA. “We congratulate Justin and the entire Rage team on a well-deserved Manufacturers’ Cup championship.” WEST UNION, Iowa – Rage Chassis reigns as a first-time winner of the coveted IMCA Manufactur­ers’ Cup. Bricen James was aboard a Rage in winning the Western Region crown and Tom Berry Jr. scored the North Central Region championship in a Razor. Jordan Grabouski again won national and Central Region titles piloting a GRT. William Gould’s Gould Chassis put him on top of South Central Region standings and Matt Szecsodi won the Eastern Region prize in a Harris car.center_img “This is a great accomplishment. It’s something every chassis builder wants to do but can’t by themselves,” said Rage owner Justin O’Brien. “Our customers, their hard work and performance dictated the results.” The West Union, Iowa, chassis builder topped overall point standings in the 11th annual contest. Points were awarded based on the make of chassis driven by racers finishing in the top 10 in each of the five re­gions for IMCA Modifieds. Rage will be recognized and receive a trophy during the Nov. 30 national banquet in Lincoln, Neb. Regional Manufacturers’ Cup winners will receive plaques and $100 checks. Rounding out the top five were GRT Race Cars with 30 points and Harris Auto Racing and Razor Chas­sis, both with 25.last_img read more

WOW! DOLPHINS’ DAZZLING DONEGAL DISPLAY DRAWS MESMERISED SPECTATORS

first_imgIT’S probably the most famous landmark in County Donegal.And tourism bosses are crying out for a visitor centre to draw more people to Ireland’s most northerly point at Malin Head.But these dolphins have been putting on so many acrobatic displays in the past few days, they’re managing to be the area’s best ambassadors. Pictured just off the pier from the popular Ardmalin Caravan Park, a dolphin pod seems to have taken up residence there.So could a dozen dolphins do for Malin Head what a single dolphin managed to do for Dingle?Judging by the crowds turning up for the displays it is just possible.Among those taking in the dolphin’s fun and frolics was 29-year-old Jean-Pierre d’Harcourt from France and his girlfriend Aimee. “It is so beautiful here,” he told Donegal Daily.“We were enjoying the scenery when the dolphins started to pop up out of the water. It has really made our holiday.“You guys should advertise this; the whole of France will come here. It is so beautiful.”With hot weather ahead from the weekend, all roads will be leading to Malin Head! Pictures by Ardmalin Caravan Park for DonegalDaily WOW! DOLPHINS’ DAZZLING DONEGAL DISPLAY DRAWS MESMERISED SPECTATORS was last modified: June 13th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Ardmalin Caravan Parkdolphin poddolphinsMalin Headlast_img read more