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LONDON: British retailers suffered the biggest drop in sales for almost three years during December, raising the risk that the economy entered recession in the fourth quarter, official data showed on Friday. The Office for National Statistics said retail sales volumes shrank 3.2% between December and November – the biggest drop since January 2021 andRead more

On 20th January 2024, MDCC held a momentous Chinese New Year Celebration at Hee Lai Ton Restaurant, with the presence of the esteemed Guest of Honor, Yang Berhormat Dato’ Nizar Najib. Highlights of the event include the certificate presentation to the new members of MDCC which are Simplr Solutions Sdn Bhd, Tintech Group Sdn Bhd,Read more

Bondsupermart Malaysia has received the approval-in-principle from Securities Commission Malaysia to operate a bond marketplace. The subsidiary of SGX-listed iFast Corp aims to launch its bond trading services in Malaysia in the second half of 2024. In an announcement on Jan 20, iFast says Bondsupermart Malaysia wants to be a “centralised and easily accessible marketplaceRead more

KUALA LUMPUR (Jan 11): Malaysia’s wholesale and retail trade recorded a sales value of RM142.6 billion, up 6.2% year-on-year (y-o-y), in November 2023, said the Department of Statistics Malaysia (DOSM). Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement on Thursday that the increase was driven by the wholesale trade sub-sector, which rose 6.2% or RM3.7Read more

However, high household debt still poses a risk, says data provider BMI. BMI said the rapid unwinding of Malaysia’s credit boom over the past few years could pose a risk to domestic demand. PETALING JAYA: Low inflation and a higher rate of employment are expected to boost consumer spending this year. However BMI, a researchRead more

KUALA LUMPUR (Jan 11): MIDF Research expects Malaysia’s retail trade to expand by 7.5% in 2024, on the back of resilient consumer demand, amid a healthy labour market and softening inflation pressure. The research house said that in the first 11 months of 2023, Malaysia’s distributive trade sales increased by 7.9% year-on-year (y-o-y), with retail trade rising 9.4%. OtherRead more

Which technology trends should retailers be considering in the new year and why is it worth investing time and money in them? We asked a panel of industry experts to talk us through the frontrunners 1. Gen-AI projects gathering pace Artificial intelligence – or, more specifically, AI – was the Collins Dictionary word of the yearRead more

Alibaba’s Southeast Asian e-commerce unit Lazada has cut some of its staff in Singapore and is reported to continue the layoffs in other markets. The layoffs in Singapore affected both junior and senior employees from multiple departments, but the exact number was not disclosed, according to The Edge Singapore. A Lazada spokesperson told The Straits Times that theRead more

External theft is a major cause of small retailer shrink. A new survey reveals many small- and mid-sized retailers face more of a challenge from shrink than their larger peers. According to the Software Advice 2023 Retail Shrink Survey of 416 small- and medium-sized retailers, 68% of respondents have shrink rates that are currently above the industryRead more

This is Alibaba’s first region-specific large language model AI, with the Southeast Asia market seen as an important growth market Damo’s new LLM signals that Chinese companies are still doubling down on the generative AI wave ushered in by OpenAI’s ChatGPT Alibaba Group Holding’s research unit Damo Academy has launched an artificial intelligence (AI) largeRead more