Yue Hwa has launched its international ecommerce store as part of its drive to court a younger and more internet-savvy generation and expand into foreign markets. The Hong Kong-based retailer specialises in authentic Chinese products including food, tea, traditional apparel, antiquities, and toys.
The ecommerce store features a curated selection of products that have been well-received in retail outlets and are suited to be sold online. Customers will be able to choose from a wide selection of payment gateways, including Alipay, Wepay, Paypal, and international credit cards.
Creating personalized shopping experiences and using big data to improve sales efficiency are important trends in the ecommerce landscape, and Yue Hwa is joining the ranks of modern ecommerce retailers with the help of Metisa. Metisa is a software developed by Altitude Labs that helps ecommerce stores deliver personalized product recommendations. Altitude Labs also worked with Yue Hwa to design, develop and launch their ecommerce store.
With impressive flagship stores in Singapore and Hong Kong, Yue Hwa receives most of its sales from its brick-and-mortar shopfronts. Its large departmental stores in historically significant locations are hubs for exploring a wide variety of Chinese products; even the Yue Hwa building in the heart of Singapore’s Chinatown is a tourist attraction.
Launching an international ecommerce store formed part of Yue Hwa’s strategy to modernise its brand image. The online platform allows a younger generation to discover traditional Chinese products via a medium they are most comfortable with.
Yue Hwa has a history of innovating to improve efficiency and a commitment to creating better customer experiences. It was the first department store in Hong Kong to implement the ‘open to buy’ concept of managing its retail inventory. Yue Hwa also prides itself on selling authentic, export quality goods, a commitment it makes by thoroughly screening its wares.
According to research by eMarketer, ecommerce sales are expected to rise by 22.9% in 2017, making up 10% of total retail sales. With Asia Pacific and China among the fastest growing regions for ecommerce, Yue Hwa’s ecommerce drive is part of a larger trend among traditional retailers in the region.
As a vanguard leader in the digital space, Altitude Labs’ work with Yue Hwa represents an important first step into omnichannel retail. It is not merely a trend - rather, consumers now expect a seamless omnichannel experience, according to a survey involving over 5,900 consumers this year.
Altitude Labs leveraged the wealth of data that Yue Hwa had from its offline stores, and transformed it into a personalized online shopping experience with which Yue Hwa could reach both international and Mainland shoppers.
To stay competitive, companies now need to provide omnichannel shopping experiences. Curious about the future of retail and how companies need to evolve in order to remain relevant? Read more here.