September 25, 2017

Advertise with us
HOME REGIONS Asia-Pacific › Challenger touts Hachi.tech potential

Challenger touts Hachi.tech potential

by Stuart Wilson, Thursday 22 June 2017

Challenger's new flagship store
Challenger’s new flagship store

Singapore-based tech retailer Challenger is optimistic on the growth potential for its online tech marketplace, Hachi.tech. The platform has made solid progress in its first year and the company is looking to expand the range of products available, improve the user experience and offer faster fulfilment options.

Challenger also opened the doors to its much-awaited new flagship store in Singapore on May 1st. Spanning 14,000 square feet at Bugis Junction basement 1, the new flagship’s productive size and efficient layout has already generated encouraging early sales figures.

Loo Leong Thye, chief executive at Challenger Technologies, stated: “Hachi.tech has just turned one but is already an important growth engine for us. We have confidence in growing online revenue, having put in place clear strategies for member acquisition, retention and growth. Hachi.tech will also play a critical role in contributing to our omnichannel approach, which has now strengthened [through] our Bugis flagship opening.”

“With a new flagship [store], customers can expect more events and activities at a central location in the months to come,” he added.

Challenger Technologies sales fell 15.4% year-on-year in the first quarter of 2017 to hit S$76.5m (US$55m). The company attributed the decrease to lower revenue from retail sales, corporate sales and contribution from trade show, partially offset by higher online sales revenue. Online sales contributed about 10% of the total retail sales. After tax profits for the first quarter dropped 15.8% year-on-year to S$3.2m (US$2.3m) - a profit margin of 4.2%.

Currently, the group has a total of 40 stores comprising one flagship Challenger megastore, 25 Challenger superstores and 14 small format stores in Singapore. Challenger has more than half a million members of its ValueClub programme that offers shoppers benefits and rewards.

DISTREE APAC 2017

Channel APAC is an official Media Partner for regional technology and consumer electronics retail channel event DISTREE APAC taking place November 8-10th in Singapore. Vendors, distributors and retailers requiring more information about DISTREE APAC 2017 should contact stuart@channelemea.com quoting code DAP17.

Print this page  Recommend this article  Reply to this article    Del.icio.us   Digg   Technorati

September, 2017
MonTueWedThuFriSatSun
    123
45678910
11121314151617
18192021222324
252627282930 


Advertise with us

Login


Register here

Press Releases

Upload your PR here

Advertise with us