News Digest 08.03.2021

FJ BENJAMIN AND LAZADA SINGAPORE SIGN MOU FOR STRATEGIC PARTNERSHIP

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This will tap Lazada’s technical and online capabilities, and eCommerce platform management expertise, and leverage FJB’s experience in fashion brand management and physical store operation, to boost the eCommerce performance of FJB’s stable of brands in Singapore, Malaysia and Indonesia, as well as to expand and incubate new FJB brands.
FJB will also discuss opportunities for eCommerce in markets Lazada has a presence but where FJB does not, such as Vietnam, Thailand and the Philippines.

DURING PANDEMIC CONSUMERS STARTED TO WINDOW SHOPPING ONLINE: FILLING, THEN ABANDONING SHOPPING CARTS

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Abandoned shopping carts are nothing new, but the pastime appears to have picked up in the last year as a replacement for real life window shopping.
Data from the onset of the pandemic showed a 94.4% cart abandonment rate, compared to 85.1% in the comparable period last year.
However, this isn’t necessarily the worst thing for retailers, since they’re getting eyeballs on products and those could lead to potential sales.

GOOGLE TO STOP SELLING ADS BASED ON YOUR SPECIFIC WEB BROWSING

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Citing privacy concerns, Google says it won’t use technologies that track individuals across multiple websites. The company’s decision to stop using individualized tracking could accelerate broader changes to how companies target their ads.

WALMART’S FLIPKART EXPANDS GROCERY SALES TO MORE INDIAN CITIES

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Walmart-owned Flipkart will sell groceries online in more Indian cities, as it seeks to compete better with Amazon and Reliance in an e-commerce market that has grown rapidly during the COVID-19 pandemic.
Flipkart has already expanded online grocery sales to more than 50 Indian cities and intends to reach over 70 locations in the next six months.

DISNEY’S BOB CHAPEK ON THE FUTURE OF MOVIEGOING, DISNEY PLUS AND THEME PARKS

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Speaking at the Morgan Stanley Technology, Media and Telecommunications Conference on Monday, Walt Disney Company chief exec Bob Chapek said he’s “not sure there’s going back” to pre-pandemic theatrical windows.
Chapek reminded viewers that Disney in 2019 released 11 films that earned at least $1 billion, which “will continue to be a big deal” to the company. But he acknowledged the uncertainty that the ongoing COVID-19 pandemic brings, given how few screens are currently open and moviegoers’ willingness to return to theaters.

BIDEN ON TRACK TO APPLY TRUMP-ERA RULE TARGETING CHINESE TECH SUPPLY CHAIN CONCERNS

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The Biden administration plans to allow a Trump-era rule targeting Chinese technology firms deemed to pose a threat to the United States to go into effect despite objections from U.S. businesses, the U.S. Commerce Department said on Friday.
The department issued an interim final rule in the final days of the Trump administration aimed at addressing information and communications technology supply chain concerns and said it would become effective after a 60-day period of public comment.

TELEGRAM REVENUE AND USAGE STATISTICS (2020)

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Telegram was created with a view to challenging the primacy of WhatsApp. Its makers claim that its multi-data centre infrastructure and encryption makes it more secure than its Facebook-owned rival. When users are looking for a secure service, Telegram seems to be where they defect.
Telegram was in the top-10 most downloaded apps globally in Q2 and Q3 2020, with around 80 million downloads in both. Telegram the most-downloaded social media app in 20 countries.
Other statistics details could be found via the link.

GOOGLE ANALYTICS 4 BOUNCE RATE (WHY IT ISN’T IN GA 4)

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GA4 doesn’t use bounce rate. The good news, though, is that you can use other metrics to track your site’s performance that are much more valuable than bounce rate.
So while Google Analytics 4 has done away with bounce rate they’ve replaced it with a metric called engagement rate that allows you to get similar information about user behavior on your site. But page value might be even better metrics than both of these options.

GOOGLE’S UPDATE TO MISREPRESENTATION POLICY

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In May 2021, the Google ads misrepresentation policy will be updated to implement restrictions on claims related to financial products or money-making schemes. Google will begin enforcing the policy update on 1 May 2021, with full enforcement ramping up over approximately four weeks.
The updated policy will prohibit making unrealistic promises of large financial return with minimal risk, effort or investment. Examples of prohibited claims include guaranteeing returns, or promising returns that are unrealistic or exaggerated for the advertised investment product, presenting investment products as risk-free or downplaying the risk of investment opportunities.

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