Galaksion blog News digest 15.06.2020
Mon Jun 15,2020
News digest 15.06.2020

Online marketplace Tiki gets US$ 130 million funding

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Vietnamese online marketplace Tiki has successfully raised US$130 million in its latest funding round led by Northstar Group.

Founded in 2003, Northstar Group is a Singapore-based private equity firm, currently investing US$3 billion in more than 30 companies across Southeast Asia.

Recently, online marketplace Tiki and rival platform Sendo informed authorities of a proposed merger scheme amid intense competition in Vietnam’s e-commerce market, with two strong rivals Lazada and Shopee.

Shopee will hold a Great Shopee Sale from 6 June to 7 July

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Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, is gearing up to launch the much anticipated Great Shopee Sale.

The COVID-19 pandemic continues to impact consumer shopping habits and accelerate local businesses and small and medium enterprises’ (SMEs) shift to online retail, especially with the cancellation of the Great Singapore Sale – a first in its 26-year history.

Shopee is determined to use its platform to aid the evolving needs of both users and sellers and help them adapt to the new normal. By elevating the profiles of local sellers and leveraging data on shifting consumer habits, Shopee also aims to facilitate greater seller-user relationships during this period.

During GSS, avid shoppers can look forward to free shipping and great deals from over 1,000 brands. Million Dollar Discount will also run across an array of categories, allowing users to enjoy Lowest Price Guaranteed and free shipping on products from popular brands.

As part of this year’s GSS, Shopee will continue to champion local sellers and SMEs to establish and grow their e-commerce presence in the current economic climate. The homegrown company will feature one local seller a day from 6 June to 7 July to drive more visibility for local businesses.

Flipkart rolls out voice assistant to make shopping easier

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The AI-powered voice assistant currently supports the grocery category, called Supermart, but a company spokesperson told TechCrunch that Flipkart  will soon be extending it to other verticals. The feature began rolling out to Android users on Tuesday, and the company says it is working on bringing it to its iOS app.

The assistant, which supports Hindi and English, will also understand more languages in the future, said the company, which competes with Amazon in India. The feature allows users to explore deals and offers, filter results, add multiple items to carts, receive contextual suggestions and check out using conversational voice commands.

Hundreds of millions of Indians have come online in the past decade. Many of them are less-educated and are uncomfortable with typing and navigating services in English. Voice search has become popular among many such demographics in recent years. Google said last year that voice searches were growing 270% year-on-year in India.

The сoronavirus impact on app installs and marketing budgets by AppsFlyer 

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AppsFlyer released its report about the сoronavirus impact on app installs

and marketing budgets in the first quarter of 2020. With the 'new normal' setting in, and as more and more countries relax restrictions due to social and economic pressure, the quarantine effect is still evident in app behavior.

App install ad spend is rising in the vast majority of markets. A significant 25% overall gain in spend was seen from the end of February to early April, as installs peaked amid heightened demand and aggressive user acquisition during the beginning of lockdown in many parts of the world. Then, from the second week of April to date, spend dropped 7% as the cost of media shot up, causing a reduction in the number of non-organic installs.

This was especially evident in Gaming where spend in the first time frame jumped 37% and then dropped 12% in the second. In non-gaming, however, spend increased 14% and then remained largely unchanged. In the US, gaps were not as large: in non-gaming spend has risen 32% and then dropped 5%, while in Gaming there was a 36% uplift followed by an 8% decline. In India, there was yet another indication of the gaming explosion there with a whopping 104% rise in spend followed by a 5% drop; in non-gaming spend dropped nearly 40% throughout the entire time frame, as Finance, Shopping and food Delivery activities were mostly halted.

In-app revenue lift continues as usage remains high and installs drop. Consumer spend in apps increased a further 13% this week. It has been on the rise since week 4 (Mar 17-23), growing 45% to date thanks to elevated usage.

While demand and user acquisition (UA) peaked in early April, installs continued their downward trend toward pre-coronavirus numbers, as non-organic and organic installs dropped 20% and 15% in the past two weeks, respectively.