How an SG-based D2C firm grew to an 8-figure biz by showing informercials to retirees

IN FOCUS

In today’s newsletter, we look at:

• How a direct-to-consumer health firm hit an eight-figure revenue within three years of founding while staying profitable
• What Indonesia’s US$100 floor for imported goods could mean for Temu’s and Shein’s regional plans
• Why separating short videos from live-selling will be a “worst-case scenario” for TikTok Shop

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Hi there,

My dad, a retiree in his 70s, spends a lot of time watching videos about various health products on his smartphone these days. Then he tells me all about it whenever I visit.

I have watched some of these videos before, and it was an experience I found thoroughly unenjoyable.

So when I read that Truegenics, a Singapore-based D2C firm specializing in health supplements, uses long informercials to reach customers aged 55 and above, I wasn’t surprised.

You may scoff at such tactics and find that some of the health claims stretch credulity. But the bottom line is, businesses like Truegenics are profitable and have achieved multimillion sales figures. My colleague Melissa uncovers how Trugenics CEO Alvin Huang built up his business in this week’s Big Story.

So much attention is poured into apps like TikTok and the young people who use it that it’s easy to forget who actually has more money to spend: the older generation. Yes, I realize that I sound like an old person saying this.

On the topic of TikTok, Indonesia will announce new rules that include banning transactions on social media platforms like the ByteDance-owned app. My colleague Jofie has analyzed the impact of this contentious move, which will directly affect TikTok’s ecommerce business in the country.

Indonesia’s trade ministry this week also imposed a US$100 floor on imported goods sold via cross-border ecommerce marketplaces, which could affect the ability of businesses like Shein and Temu to operate in the country. I consider the implications of this in this week’s Hot Take.

— Simon

THE BIG STORY

SG-based D2C firm thinks global to build profitable $28m business

Image credit: Timmy Loen

THE HOT TAKE

NEWS YOU SHOULD KNOW

FYI