Have you noticed how today’s shopping trends are throwing it back to the retro feels? It seems like we’re all stepping into a time machine. In times of economic uncertainties, rising costs, and growing environmental awareness, consumers are shifting their preferences.

Some people are swapping-opting for products that offer lasting power and won’t break the bank. Sustainability is also a huge driver, as more consumers choose items that can be fixed, recycled, or simply last longer, like those durable retro designs that seem made to stick around.

Nostalgia is king

In uncertain times, there’s something comforting about products that remind us of simpler times. The 90s Time Machine taps into this by offering a unique service for music lovers. Whether you want a kit to create your own mixtapes or prefer to submit a playlist and have them turn it into a tape for you, this product delivers a tangible slice of ’90s nostalgia, providing comfort and fun from a decade cherished by many. Check out the 90s Time Machine!

Digital detox

Ever feel like unplugging? Whether it’s escaping the endless doom of scrolling through distressing news, dodging humble brags, battling notification fatigue, or just needing a break from back-to-back Zoom meetings, the desire to disconnect is real.

The Light Phone and the iconic Nokia 3210 are perfect for those moments. These devices are all about the basics—texting and calling, no frills. The Nokia 3210, known for its sturdy build and long battery life, harks back to a simpler time when phones were just phones. Both are ideal for anyone looking to reduce their screen time and enjoy a simpler, quieter day.

Also Read: Pivoting beyond product: You need to look at your company/work culture, too

Technological fatigue

With technology getting more advanced, there’s a growing appreciation for gadgets that keep it simple. The Oneshot Video Maker champions ease, offering a straightforward point-and-click interface that demonstrates video creation — no fuss and fast.

Also, as digital cameras such as DSLRs become ultra feature-rich and the learning curve goes higher, the appeal of simple, durable options like Kodak’s film cameras resonates with consumers who miss the tangibility and charm of film photography. This resurgence mirrors the vinyl craze, where music lovers are turning back to records for a richer, more authentic sound.

Retro pop culture’s massive comeback

Retro continues to make waves in pop culture, influencing everything from fashion to movies. For example, while Nike’s Air Max sneakers are a modern product, they’ve recently been promoted through advertisements that embrace a distinctly old-school, vintage style, giving a nod to their long heritage while showcasing their latest designs.

Similarly, Loewe has creatively harnessed a retro vibe with a unique advertising approach. They produced a commercial set in a nostalgic game show format, where contestants are challenged to correctly pronounce “Loewe,” blending retro entertainment styles with high fashion.

While New Jeans’ “Bubble Gum” video offers a nostalgic trip with its ’90s-inspired visuals, let’s not overlook Kodak Korea on Instagram, where they keep the classic appeal of film photography alive, proving that vintage never really goes out of style.

Retro isn’t just about reliving the past; it’s about finding comfort and simplicity in a world that often feels overwhelmingly complex. Whether it’s through fashion, technology, or entertainment, the allure of the past is proving to be more than just a nostalgic trend. It’s a lifestyle choice that many are passionately embracing.

What are some of your favourite retro-inspired products or brands? I’d love to hear from you.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

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Dear reader,

In a striking development, TikTok Shop has surged past Tokopedia to become Southeast Asia’s second-largest e-commerce platform in 2023, as reported by Momentum Works.

Shopee continues to lead with a formidable GMV of US$55.1 billion, capturing a 48% market share.

TikTok Shop’s annual GMV skyrocketed to US$16.3 billion, placing it on par with Lazada and Tokopedia. This leap is accentuated by its significant workforce expansion, which contrasts with the workforce reductions seen at Shopee, Lazada, and Tokopedia between 2022 and 2024.

The report, part of ‘The Ecommerce in Southeast Asia 2024’, reveals the region’s e-commerce market has grown impressively, achieving a total GMV of US$114.6 billion in 2023.

Indonesia remains the largest market, despite a slower growth rate, while Vietnam and Thailand exhibit the fastest growth. Additionally, Temu’s entry into the Southeast Asian market underscores the region’s growing attractiveness.

Key trends such as live commerce, generative AI, and evolving logistics are reshaping the landscape. Momentum Works CEO Jianggan Li highlights the dynamic and transformative nature of Southeast Asia’s e-commerce, driven by innovation and adaptation, fostering continuous growth and opportunities.

Sainul,
Editor.

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NEWS

TikTok Shop beats Tokopedia to become SEA’s second-largest e-commerce platform
While Shopee, Lazada, and Tokopedia all reduced their workforce between 2022 and 2024, TikTok Shop has expanded its workforce to over 8,000 employees since December 2021.

Goldman Sachs targets US$2B for first Asia-focused PE fund: Sources
The fund will focus primarily on investment opportunities in Japan, with about half its capital expected to be allocated there; India, South Korea, and Australia will also be key markets for the fund.

Lhoopa raises US$80M to provide affordable housing in emerging markets
The investors include IFC, Wavemaker Partners, Pavilion Capital, ADB, and Lendable; Lhoopa has sold over 2,500 affordable houses in over 58 cities in the Philippines and aims to provide over 15,000 more over the next three years.

Blockchain-powered fintech firm Partior hits first close of US$60M round
The investors include Peak XV Partners, Valor Capital Group, and Temasek; Partior’s unified ledger enables banks and payment service providers to join its network and access real-time, cross-border, multi-currency clearing and settlement.

D3 Labs, Tether to leverage blockchain to transform Indonesia’s fintech industry
This D3 Labs-Tether partnership aims to assess the deployment of a cutting-edge blockchain-based asset management platform and Web3 ecosystem.

Niv Della closes US$2M round to expand its D2C beauty, skincare brands in Philippines
The investors are DSG Consumer Partners and Foxmont Capital Partners; Niv Della’s Colourette and Fresh Formula brands are suited for the Filipino lifestyle and skin tones and Philiipines’s hot and humid climate.

TikTok explores local services potential in Southeast Asia
According to a recent job posting on the company’s official careers website, its venture into services aims to “make the daily life experience richer, more unique and more innovative.”

Trump’s VP candidate JD Vance has long ties to Valley, and was a VC himself
Vance spent years as a venture capitalist before leaving the industry when elected to the US Senate in 2022; He was a principal at Mithril Capital, a fund co-founded by Peter Thiel and Ajay Royan.

Elon Musk confirms Tesla ‘robotaxi’ event delayed due to design change
Musk first teased the robotaxi event in April, on the same day that Reuters reported the company was shelving plans for a new vehicle built on a next-generation platform that would cost around US$25K; Musk denied that report on X.

Bitcoin soars to two-week high after Trump attack
Bitcoin rose 8.6% to US$62,508, touching a two-week high of US$62,698 earlier in the session, taking its year-to-date gains to 47%; Ether was also up 6.8%% at US$3,322.

FEATURES & INTERVIEWS

From mining engineer to travel tech visionary: Darryl Han transforms trip discovery
Han transitioned from Australia’s mining industry to co-founding LFG, driven by his global experience and passion for tech innovation.

Launching Indonesia’s first AI incubator, DiscoveryShift bridges corporate-startup collaboration
In this interview, Discovery/Shift Managing Partner Rama Mamuaya also shares his insights about Indonesia and AI adoption.

Echelon X: Unveiling VC 2.0 or navigating the chaos? Decoding the future of SEA venture capital in 2024
The Echelon X panel discussion highlighted the potential of early-stage startups, regional resilience, and diversification opportunities.

Deemples, the ‘Uber for Golfers’, aims to make tee times effortless in Southeast Asia
Deemples facilitates connections among golfers to ensure that a game can always be arranged regardless of individual schedules.

FROM THE ARCHIVES

Can free-to-play models ignite new player interest in Web3 gaming?
As opposed to only playing for fun, Web3 gaming via P2E takes it one step further through rewards that can be converted into local currency.

Insurtech shines amidst overall funding decline in Indonesia in H1
Insurtech startups in Indonesia secured US$47M in H1 2024 compared to US$7.5M in H1 2023, as per a Tracxn report; Fintech, insurtech and enterprise applications emerged as the top-performing sectors in H1 2024.

Why the right framework creates impactful apps
While this leap to a new framework might seem daunting at first, this article explores why it can be worth making that change.

Thailand’s startup ecosystem in 2024: Fewer funding announcements, but promising opportunities ahead
Between January and May 2024, we covered five funding announcements from startups in Thailand from various stages and verticals.

Embracing AI’s promise: Navigating the future of marketing
In an era where AI is reshaping the marketing industry, we explore how marketers, particularly in Singapore, can unlock AI’s potential.

How these trio grew BuyMed into a B2B healthtech brand with a reach in 12K+ townships in Vietnam
BuyMed, which recently raised US$51.5M in Series B funding, says it processes over 5K orders daily and reaches 12K+ townships across Vietnam.

Fintech Nation integrates thought leadership and community into its startup support initiatives
This year, Fintech Nation wants to invest in more companies, doubling last year’s number of five companies.

Beyond Singapore and Indonesia, SEA startups are working their way out of global crises
Singapore and Indonesia continue to top startup funding list despite ongoing slowdown. What does this mean for the rest?

Moosa Genetics boosts beef production in Indonesia through DNA tech, farmer support
Moosa Genetics enhances Indonesia’s cattle industry with advanced biotech, improving meat yield, quality, and sustainability for farmers.

‘Arbor envisions the rise of Generative Media as the 4th wave of media transformation’
Arbor’s expansion into Southeast Asia is motivated by the region’s rapid digital adoption and growing demand for reliable news.

Book Excerpt: In this digital age, customer journey as we know it may no longer exist
In his upcoming new book, JC Sum stresses why changes are inevitable –and that they do not discriminate between small or big firms.

How Sipher won high-profile VCs’ hearts even before its blockchain games hit the market
Unlike most blockchain games, Sipher not only aims to onboard the crypto- and NFT-savvy crowd but to introduce it to the traditional gaming community.

Finding the right co-founder involves having tough conversations–and a great sense of humour
While there is always an option to go solo, there are also many good reasons to for you to have a co-founder.

THOUGHT LEADERSHIP ARTICLES

What entrepreneurs should know about delivery management in 2024
In 2024, delivery management must be optimized as much as possible, even for entrepreneurs in small-scale enterprises.

Do you need to rethink your startup fundraising strategy?
Consider how much of your startup’s 2024 fundraising objectives you’ve reached; if you’re not ahead, there’s still time to catch up.

Weathering Asia’s economic storm with the help of Tokenised RWAs
As a capital access augmentation solution, tokenised RWAs help make traditionally illiquid assets easier to convert to cash or cash equivalents.

The future of Gen Alpha in the workplace, a primer for business leaders
As business leaders, we must prepare for these shifts and harness Gen Alpha’s potential to drive future progress and success.

Funding the future: A guide for social entrepreneurs
Raising funds for your social enterprise is challenging for both experienced and first-time founders, yet crucial for scaling quickly.

Fintech Nation integrates thought leadership and community into its startup support initiatives
This year, Fintech Nation wants to invest in more companies, doubling last year’s number of five companies.

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On Monday, the Cyber Security Agency of Singapore (CSA) and the National University of Singapore (NUS) launched a centre that aims to uplift talent, innovation, and growth programmes in cybersecurity.

The CyberSG Talent, Innovation, and Growth (TIG) Collaboration Centre was opened by Dr Janil Puthucheary, Senior Minister of State for Digital Development and Information.

At the same event, NUS also forged strategic partnerships through Memorandums of Understanding (MOU) with SGInnovate and Plexal to drive innovation and growth in Singapore’s cybersecurity ecosystem. This MOU will enhance the centre’s effectiveness and reach.

First unveiled in September 2023, the centre is a joint initiative backed by S$20 million in funding from the government and NUS. According to a press statement, this strategic partnership aims to establish Singapore as the premier global cybersecurity innovation hub, fostering economic growth and addressing the increasing demand for robust cybersecurity solutions.

Also Read: Phishing remains top cybersecurity concern, but AI will drive it to next level: Zscaler CSO Deepen Desai

Located at LaunchPad @ one-north, the centre will serve as a central nexus, bringing government, academia, and industry together to catalyse impactful initiatives in the cybersecurity sector and leverage opportunities posed by digitalisation. It will also build upon NUS Enterprise’s extensive global BLOCK71 network and innovation infrastructure, providing cybersecurity talents and companies with access to resources and opportunities for growth.

“We are excited to mark the official opening of the CyberSG TIG Collaboration Centre. NUS Enterprise is committed to continue pushing the boundaries of innovation and entrepreneurship to develop a thriving cybersecurity innovation ecosystem from Singapore,” said Associate Professor Benjamin Tee, Vice President (Ecosystem Building), NUS.

“This centre will synergise and leverage the combined expertise and resources of academia, industry, government, local and international industry partners. Our partnerships with Plexal and SGInnovate are a step forward to further support promising startups that drive global innovation and business opportunities towards a more secure digital future in Singapore and beyond.”

The centre’s strategic initiatives are structured around three core pillars:

Talent
The centre aims to cultivate a diverse talent pool equipped with the skills to apply cybersecurity capabilities across various industries and functions. Simultaneously, it trains a critical mass of professionals with advanced cybersecurity expertise. Core programmes include SG Cyber Associates, SG Cyber Youth, SG Cyber Professionals, and SG Cyber Talent Development Fund.

Innovation
The centre seeks to drive co-innovation with industry to bridge the path from innovation to commercialisation, nurturing promising cybersecurity companies for Singapore and the region. This will be through core programmes Cybersecurity Industry Call for Innovation (CyberCall) and CyberBoost.

Also Read: Uncovering the rise and challenges faced by deep tech startups in Singapore

Growth
Lastly, the centre aims to enable cybersecurity companies anchored in Singapore to scale regionally and globally. The core programme, CyberGrowth, is a dedicated cybersecurity-focused export programme that facilitates the expansion of promising cybersecurity companies and leverages NUS’ BLOCK71 incubation hubs in Southeast Asia, East Asia, and the US.

“We are thrilled to mark this important milestone of the opening of the CyberSG TIG Collaboration Centre, which brings some of our talent and ecosystem development efforts under one roof. Our partners, whether they are government entities, industry, or academia, all have a key role to play in this effort. We look forward to the continued support of our stakeholders in this journey to establish Singapore at the forefront of cybersecurity innovation,” said Phua Puay Li, Assistant Chief Executive (Policy and Corporate Development) Assistant Chief Executive, CSA.

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Image Credit: NUS Entreprise

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Singapore-based data and AI-as-a-service company Tictag has completed its Series A round with undisclosed funding led by Telkomsel Ventures.

Existing investors M Venture Partners, East Ventures, and Investible participated. SBI Ven Capital, a subsidiary of Japan’s SBI Holdings, joined the round through its joint fund with South Korea’s Kyobo Securities and NTU Singapore’s NTUitive.

Also Read: Embracing AI in Southeast Asia: The strategy for avoiding cost overruns

Operating in Singapore, South Korea, Indonesia, Malaysia, and Hong Kong, the company will use the funds to engage more businesses and expand its presence in Indonesia and the rest of Asia.

Established in 2019, Tictag is a data-centric startup aiming to simplify data collection and annotation by breaking tasks into manageable portions via its app-based crowdsourcing platform. It empowers organisations with business-ready AI without worrying about their core problem—data.

The company recently expanded its capabilities to include applied data-centric AI and consulting services.

The data-centric approach allows Tictag to deploy business-focused AI with state-of-the-art models to deliver accurate results with actual data rather than just stopping at proof of concepts.

Tictag’s expertise in applied AI spans industries like agriculture, construction and manufacturing, security, smart cities, audio and languages and more.

The startup claims to have served over 50 corporations in various sectors, such as real estate, autonomous vehicles, agriculture, and media across Asia.

“We see our social and commercial missions as intertwined. As we enhance companies’ competitive advantages through AI-driven ROI, we are also expanding the AI economy in Asia,” stated Kevin Quah, co-founder and CEO of Tictag.

Also Read: AI powerhouses: Unveiling Singapore’s top 30 funded innovators

“Our work strengthens AI ecosystems by enriching partnerships and growing a diverse community of data annotation contributors, from students to the disabled, enabling their participation in the AI economy. Indonesia represents a thriving bedrock of AI talent and businesses on the brink of AI enablement, areas we have been focusing on intensively. With Telkomsel Ventures’s support, we will gain the right expertise, knowledge, and access to significantly expand our impact in the market,” Quah added.

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Image Credit: Tictag.

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In recent years, there has been a notable shift in the digital lending industry, primarily due to the advancements in artificial intelligence (AI) and data analytics. Financial organisations are continuously adjusting to meet the evolving needs of customers in a world that is becoming more and more digitised.

According to a report by IIFL Fintech, the digital lending market in India had a value of US$38.2 billion in 2021 and is expected to reach US$515 billion by 2030. This represents a compounded annual growth rate (CAGR) of 33.5 per cent, underscoring the increasing significance of digital lending solutions in the global financial landscape. The integration of AI technology will be instrumental in driving this growth and offering exciting prospects for improving efficiency, mitigating risk, and delivering customised lending experiences.

Let us explore the future of AI in digital lending and its ability to bring about transformative changes.

Enhanced risk management

Lenders must have a clear understanding of the borrower’s creditworthiness in order to assess risk effectively. AI can analyse vast amounts of data, even from alternate sources like social media and cash flow patterns, to assess the creditworthiness of the borrower in a more accurate manner. This, in turn, can minimise the risk of default.

Further, AI models can identify subtle patterns in existing data through machine learning to identify patterns in loan repayment behaviour. 

Streamlined operations

The process of Robotic process automation (RPA) involves utilising AI-powered software robots to handle routine tasks such as document validation, data input, and eligibility assessments for loans. By doing so, it allows human employees to dedicate their attention to more intricate matters and providing exceptional customer service.

Fraud detection

Fraud poses a significant risk to lenders. AI algorithms have the ability to identify red flags and inconsistencies in loan applications such as information mismatch and suspicious activities by the borrower. AI can also step in to keep a tab on ongoing behaviour such as irregular payments. This helps lenders to protect your financial interests and promote trust at the same time. 

Offering personalised loan products

With the ability to analyse vast amounts of data, AI and automation can help to offer customised loan products to customers based on suitable loan terms, repayment methods and, more importantly, loan amounts tailored to the borrower’s financial situation. Further, AI can fine-tune rates on a real time basis based on the borrower’s risk profile. 

Also Read: Embracing automation and phygital models: The future of mortgage companies

Reduced operational costs

Businesses constantly seek opportunities to enhance efficiency while simultaneously reducing operational expenses. In a highly competitive lending industry, lower costs can provide a significant edge. By minimising the reliance on manual labour, artificial intelligence (AI) allows for the allocation of resources to other aspects of the business. Ultimately, this results in cost optimisation. 

Increased loan volumes

A lender aims to expand their loan portfolio and capture a larger market share. Utilising AI technology allows lenders to tap into a broader range of potential borrowers and accelerate the loan application process, ultimately enhancing the lender’s profitability.

In addition, AI not only enhances operational efficiency for lenders but also contributes to an enhanced customer experience. These two aspects are intertwined and complement each other perfectly.

Faster loan approval

We have previously examined the capacity of AI to analyse extensive quantities of data, thereby removing the necessity for intricate documentation and manual verifications. This means that borrowers can expect their loan applications to be approved in hours or even minutes.

Further, customised loan offerings make the loan process hassle-free for the borrower, thus augmenting borrower satisfaction. Thus, AI is a game changer for borrowers who need a loan immediately for an emergency or time-sensitive purchases. 

More transparency

AI also helps lenders provide real-time updates on the loan application. Thus, the borrower is kept informed throughout the process. This helps build trust, and since the borrower gets real-time updates, it helps reduce the anxiety that one may relate to waiting for a decision.

When it comes to artificial intelligence and the process of lending and managing loans, it has provided lenders with the ability to originate loans more quickly and gain a deeper understanding of their customers’ creditworthiness. From cost savings to improved processes, AI and automation have immense benefits for both lenders and borrowers.

Going forward, lenders will continue to make substantial investments in AI, leading to positive outcomes for all parties involved.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

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