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Hello reader,
Sometimes, when I’m bored, I open up the shopping apps on my phone and browse the listings in the same way that I scroll through posts on Instagram and Twitter.
I’m not sure what this says about the hold consumerism has on me, but the fact that I’ve got multiple options to look at is a testament to how the ecommerce landscape in Southeast Asia has grown over the years.
Between Amazon, Shopee, Lazada, TikTok Shop, and many others, buyers are spoiled for choice when it comes to shopping from the comfort of their sofas. Sellers can also operate across multiple platforms, increasing exposure to potential customers.
But managing operations across multiple platforms is no easy feat. That’s where ecommerce enablers come into the picture – and today, we’re looking at one that has great ambition for how its 2023 will pan out.
Today we look at:
- AnyMind’s 16x profit goal
- A new bank account offering courtesy of GoTo and Bank Jago
- Other newsy highlights such as East Ventures’ new healthcare fund and IDN Media’s acquisition of an Indonesian festival organizer
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Don’t mind, AnyMind
Image credit: Timmy Loen
The Tokyo Stock Exchange-listed ecommerce enabler has a pretty lofty goal for the year: grow its annual operating profit by 16x to US$3.2 million. Let’s take a closer look at why AnyMind thinks it’s got what it takes.
- About AnyMind: The firm works with over a thousand brands, including the likes of Grab, TikTok, and Traveloka. These companies use AnyMind’s solutions to connect with influencers and manage marketing campaigns.
- Higher margins: AnyMind’s direct-to-consumer business recorded profit margins of “over 50%” for the first six months of 2023, which CEO Kosuke Sogo says is higher than those seen by what he calls “traditional” ecommerce enablers. According to him, these are firms that focus on operations-driven solutions like inventory support.
- Opportunities ahead: The company has recently acquired Indonesian ecommerce enabler DDI, which Sogo says gives AnyMind the opportunity to scale geographically. It also brings into the fold DDI’s network of large FMCG clients like Unilever and Mondelez.
Read more: Tokyo-listed AnyMind eyes 16x profit in 2023 as more seek online selling tools
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