Connect with us

BizNews

Retail industry sees most cyber incidents in APAC due to lack of cybersecurity budget 

19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity investment in the last two years. When it comes to companies’ finances, nearly one-in-five (16%) admit they do not have the budget for adequate cybersecurity measures. 

Published

on

According to a recent study by Kaspersky, globally, critical infrastructure, oil & gas and energy organizations suffered the biggest number of cyber incidents due to improper budget allocation (25%). In Asia Pacific, however, the retail industry experienced the greatest number of successful cyberattacks in the past 24 months. 

The latest survey also revealed 19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity investment in the last two years. When it comes to companies’ finances, nearly one-in-five (16%) admit they do not have the budget for adequate cybersecurity measures. 

Kaspersky conducted a study to discover the opinions of IT Security professionals working for SMEs and enterprises worldwide regarding the human impact on the cybersecurity in a company. The research – aimed at gathering information on various groups of people who influence cybersecurity – considered both internal staff, and external contractors. It also analyzed the impact decision makers have on cybersecurity in terms of budget allocation. A total of 234 respondents from APAC were surveyed.

Insufficient distribution of budget for cybersecurity led 19% of Asian companies to endure cyber incidents in the last two years. 

The situation is different for every industry. For example, retail organizations suffered the greatest number of cyber breaches because of the lack of budget (37%), followed by telecommunication companies (33%) and critical infrastructure, energy, oil and gas sector (23%).

“E-commerce is expected to be a 2.05 trillion USD market in Asia Pacific towards the end of 2023. Retail being the industry which suffered most cyber incidents here makes sense as cybercriminals follow the money trail. These companies are part of the greater digitalization movement in the region and hold treasure troves of data, specifically financial ones,” comments Adrian Hia, Managing Director for Asia Pacific at Kaspersky.

“Our recent study proves that threat actors know which company to target. They know the data they want and where to get them. I encourage all industries in APAC, especially those that handle critical information, to allot a better cybersecurity budget to ensure the safety of their businesses, and most importantly, of their customers’ sensitive data,” he added.

Meanwhile, some industries showed a smaller number of cyber incidents. Manufacturing industry suffered 11% of cyber incidents due to budget constraints, while transport & logistics saw 9% of them. 

When asked about the budget for cybersecurity measures, a majority (83%) of respondents from APAC said they are equipped to keep up with or even stay ahead of new threats. However, 16% of companies are not doing so well – 15% report that they don’t have sufficient funds to protect the company’s infrastructure properly. 

At the same time, there are still companies without cost allocations for cybersecurity at all – 2% claimed they don’t have a dedicated budget for cyber protection needs. 

The most successful industry in APAC in terms of proper monetary distribution for cybersecurity are financial services – 100% of respondents working in this sphere claim their organizations are set to keep up with and stay ahead of all new threats. 

Would you say the budget for cybersecurity measures in your company …?

Many respondents’ companies are eager to take steps to strengthen their cybersecurity in the next 1-1.5 years. One of the most popular areas of investment is threat detection software (46%), and trainings, where half (50%) of companies plan to allocate budgets for educational programs for cybersecurity professionals and 46% for training general staff. 

Other popular measures organizations plan to take soon are introducing endpoint protection software (42%), hiring additional IT professionals (37%) and adopting SaaS cloud solutions (45%). 

“Today, companies must align cybersecurity investment with a business strategy and consider cybersecurity as one of their business goals. Of course, investments must justify themselves and be effective, so the information security department also faces the task of increasing the ROI of investments in information security and defending investments to senior management or the board of directors. Also, in addition to reducing MTTD and MTTR, information security is tasked with reducing the cost of a security incident. These challenges can be met through the use of various modern approaches and technologies. For example, we are investing in developing our SASE portfolio as well as XDR and MDR with integrated AI, Machine Learning, automated detection and response, automated threat investigation, out of the box integrations and much more. To ensure process transparency and prove the value of our solutions, we also provide C-level dashboards and reports for CISOs, which include information on how many incidents we prevented, how quickly incidents were investigated, and the effectiveness of deployed cybersecurity solutions. We also highlight customer-specific risks, and show them trends particular to the industry to help them shape their cybersecurity by targeting their defenses around current dangers, and justify investments in the necessary technology,” comments Ivan Vassunov, VP, Corporate Products at Kaspersky. 

The full report and more insights on the human impact on cybersecurity in business are available via the link

To get the most out of your budget, Kaspersky recommends:

  • Implementing cybersecurity products with Advanced Anomaly Control such as Kaspersky Endpoint Detection and Response Optimum. This helps prevent potentially dangerous ‘out of the norm’ activities initiated both by a user or by an attacker who has already taken control over the system. 
  • Using easily-manageable solutions. Kaspersky Endpoint Security Cloud is designed for smaller enterprises or companies that don’t currently have the budget for a wide stack of cybersecurity products. The all-in-one hosted SaaS console allows just a single administrator to manage a broad range of cybersecurity tasks from one place, with a simple and easy-to-master workflow.
  • Investing in training for everyone in your company – from general staff to decision makers. Kaspersky Automated Security Awareness Platform training teaches employees safe internet behavior and includes simulated phishing attack exercises. At the same time, Kaspersky Cybersecurity for IT Online training helps build up simple yet effective IT security best practices and simple incident response scenarios for generalist IT admins, while Kaspersky Expert Training equips your security team with the latest knowledge and skills in threat management and mitigation to defend your organization against even the most sophisticated attacks. And last but not the least, to advance decision-makers’ understanding of the importance of cybersecurity and how best to distribute budgets to stay ahead of threats, engage them with Kaspersky Interactive Protection Simulation for enhanced C-level professional education.
  • Considering experts’ help. For example, Kaspersky Assessments family of professional services identifies security gaps in your system’s configuration, and the Security Architecture Design helps create an IT security infrastructure that’s a perfect fit for a particular company. Every step of implementation is grounded in real security needs, giving decision-makers convincing arguments to allocate budgets.
  • Referring to Kaspersky’s ‘Cybersecurity on a budget‘ resource for small and medium businesses for tips on how to spend less on IT without compromising on security. 

BizNews

Mercato Centrale, College of Saint Benilde launch micro-certification program to upskill MSMEs in food sector

Developed through the collaboration of Mercato Centrale’s entrepreneurship platform and CSB’s School of Hotel, Restaurant, and Institution Management (SHRIM), the courses aim to equip  both aspiring and existing food entrepreneurs with the tools to build sustainable, growth-oriented businesses.

Published

on

Mercato Centrale Group, the country’s premier food and lifestyle market, has partnered with De La Salle-College of Saint Benilde (DLS-CSB) to roll out  micro-certification courses aimed at strengthening micro, small, and medium enterprises (MSMEs) in the food industry. 

The program will offer short courses covering food business management, marketing strategies, financial literacy, and culinary innovation. Developed through the collaboration of Mercato Centrale’s entrepreneurship platform and CSB’s School of Hotel, Restaurant, and Institution Management (SHRIM), the courses aim to equip  both aspiring and existing food entrepreneurs with the tools to build sustainable, growth-oriented businesses. The program is expected to launch in the coming months and will be open to home-based food vendors, market stall owners, and individuals entering the food industry.

The partnership was formalized through a memorandum of understanding signed on March 26, 2025, at  the Vatel Restaurant within the CSB campus. The signing ceremony was attended by RJ Ledesma and Vanessa Ledesma of Mercato Centrale; DLS-CSB Chancellor Benhur Ong; SHRIM Dean Marie Paz Castro; and Vice Chancellor for Academics Angelo Marco Lacson.

“Almost 99.5% of businesses in the Philippines are MSMEs, and a large number of them are in the food industry,” said RJ Ledesma, co-founder of Mercato Centrale. “Our mission has always been to champion local food entrepreneurs by providing them with the right platform and support. Through this partnership with CSB, we’re taking that commitment further by giving MSMEs access to quality education and training—tools that can help them sustain and grow their businesses. With what we’ve built at Mercato, we have a real opportunity to contribute to making these businesses more sustainable. This initiative also reflects our Lasallian mission of service.”

Under the agreement, the partnership will roll out a comprehensive set of academic and industry-focused initiatives. These include student internships across Benilde’s hospitality and entrepreneurship programs, providing students with hands-on experience in real-world business environments. Selected courses will be micro-credentialed to better align academic offerings with the operational needs of the food and hospitality sector. Faculty and associates from both institutions will also participate in immersion and exposure trips to gain deeper insights into industry practices.

To further enrich learning, Mercato Centrale and DLS-CSB will co-host data analytics workshops and seminars that draw from Mercato’s field experience—equipping students, faculty, and the broader public with a deeper understanding of market trends and consumer behavior. Students will also take part in project-based learning alongside Mercato, solving real-world entrepreneurial challenges. These will be supported by mentorship-led class enrichment programs that bridge academic theory with practical application.

The collaboration marks a strategic alliance between two institutions committed to empowering the next generation of Filipino food entrepreneurs through accessible, experience-driven education.

For updates on enrollment and course offerings, follow Mercato Centrale on Facebook and @mercatocentraleph on Instagram

Continue Reading

BizNews

Asahi Appliances taps TikTok Shop

By tapping into TikTok Shop’s unique ACE Indicator System—Assortment, Content, and Empowerment—Asahi Appliances has modernized its approach while staying true to its legacy.

Published

on

For over four decades, Asahi Appliances has been a household name in the Philippines, known for its durable electric fans and a broad range of home appliances. Now, the brand has found new momentum in the digital marketplace through TikTok Shop, achieving remarkable growth in the latter part of 2024. By tapping into TikTok Shop’s unique ACE Indicator System—Assortment, Content, and Empowerment—Asahi Appliances has modernized its approach while staying true to its legacy.

Asahi Appliances saw a surge in sales, growing 2,700% year-over-year from Q4 2023 to Q4 2024, and 56.5% quarter-on-quarter from Q3 2024 to Q4 2024. The 11.11 Paskong Panalo Sale played a key role in this momentum, driving sales nearly six (6) times higher than the 10.10 sale that same year.

Reinventing Success with Digital Innovation

Asahi Appliances’s success on TikTok Shop exemplifies how local and heritage brands can thrive in a rapidly evolving digital space. The platform’s ACE Indicator System, which guides sellers in optimizing their assortment, enhancing content, and empowering campaigns, played a central role in this transformation. By refining its product offerings, creating engaging livestreams, and maximizing ad placements, Asahi Appliances connected with a new generation of online consumers.

“TikTok Shop has given us a platform to bring our products and story to life in a way that truly resonates with today’s audience,” said Eunice T. Sy, Vice President of Asahi Appliances. “This has been an opportunity to not just sell, but to engage with our customers on a deeper level, offering them value while staying true to the quality that has defined us since 1982.”

The Power of Assortment and Engagement

Through TikTok Shop, Asahi Appliances curated exclusive offers, including discounts, bundles, and Buy 1 Get 1 deals, tailored to its audience’s preferences. This strategy drove substantial growth, with gross merchandise value (GMV) increasing by 130% quarter-on-quarter. The brand also embraced TikTok Shop’s tools, such as the Shipping Fee Program and Bonus Cashback Program, to create a seamless and appealing shopping experience.

Complementing these efforts was a robust content strategy that featured daily livestreams and collaborations with creators. During major campaigns like 11.11, the brand extended livestream durations to seven hours, engaging customers in real time and significantly increasing impressions. These efforts translated into a 361% year on year growth in livestream sales, with product impressions surging 387% quarter-on-quarter.

Building Trust in E-Commerce

Asahi Appliances’s journey on TikTok Shop reflects the broader value of operating within a safe and trustworthy e-commerce ecosystem. TikTok Shop ensures compliance with Philippine laws, including requiring Philippine Standards (PS) Licenses or Import Commodity Clearance (ICC) certifications for regulated products. These measures provide assurance to both sellers and consumers, reinforcing the integrity of the platform.

“Trust is the foundation of any thriving digital marketplace,” said Franco Aligaen, Marketing Lead of TikTok Shop Philippines. “At TikTok Shop, we go beyond driving growth. We are committed to building a secure and transparent ecosystem where brands like Asahi Appliances can thrive, and consumers can shop with confidence, knowing they are protected by the highest standards of compliance.”

Globally, TikTok Shop has invested over USD 500 million in safety initiatives, including the development of tools to identify and remove non-compliant products. Programs like the TikTok Shop Intellectual Property Rights (IPR) Report further demonstrate its commitment to fostering a secure marketplace.

A Blueprint for Filipino Excellence

Asahi Appliances’s transformation on TikTok Shop is more than just a business success; it is a testament to the potential of Filipino enterprise in the digital age. By blending innovation with heritage, the brand has demonstrated how traditional businesses can adapt to the demands of a new market while preserving their identity.

“This isn’t just about growing sales; it’s about showing what Filipino craftsmanship can achieve when paired with the right tools,” Sy added. “TikTok Shop has been an invaluable partner in this journey, helping us share our story with customers who value quality and authenticity.”

To explore Asahi Appliances’s innovative offerings and see how they’re embracing the digital marketplace, visit their official TikTok Shop.

Continue Reading

BizNews

5 Trends shaping the future of online selling

The consumer ecommerce market is expected to approach $6 trillion by 2027, according to the International Trade Administration, up from roughly $4 trillion in 2024.

Published

on

Thanks to the explosion of ecommerce over the past couple decades, consumers can find virtually any product or service they can think of online. In fact, the consumer ecommerce market is expected to approach $6 trillion by 2027, according to the International Trade Administration, up from roughly $4 trillion in 2024.

A diverse collection of product segments is driving this growth, including everything from fashion and furniture to food and beverage. While major marketplace retailers still lead the category, ecommerce has become commonplace among small businesses, too. In fact, by the end of 2023, an estimated 80% of small businesses had at least basic ecommerce capabilities, according to a report by Digital Commerce 360.

However, small businesses are grappling with challenges such as inflation, supply chain issues and keeping pace with major retailers, among others, that are driving a variety of ecommerce trends in 2025 and beyond, including:

Video Content

Spurred by social media, video content is in high demand on ecommerce sites, too. Videos that explain how to use products, offer tips for using them and demonstrate projects that were completed using a product all earn favor with shoppers. In addition, videos that highlight product features, video reviews on social media and “live shopping events” on the social channels of ecommerce retailers can provide a more appealing interactive experience for shoppers.

Inclusive of the “live shopping events” trends, livestreaming is often popular among consumers as it can create a sense of FOMO (fear of missing out), leading to enhanced brand loyalty and engagement. Short-form videos sweeping social media also drive engagements and offer a quick, appealing way to demonstrate new or popular products.

Personalized Products

Ecommerce provides opportunities for shoppers who appreciate buying products that are uniquely their own. Online buying platforms that allow for customization of products such as shoes, clothing and drinkware can create buyer engagement and earn loyal shoppers who know they can purchase the items they want exactly to their own specifications.

In fact, a survey by McKinsey Insights found 80% of loyal customers prefer shopping with brands that offer tailored choices and personalized experiences. From color selection and accessories to performance variations, custom options can help create a highly personalized shopping experience that allow buyers to interact more directly than they would for a standardized transaction.

Beyond the initial purchase, customized reports and shipping notifications are also becoming the norm. Shippers can alert customers to their products’ delivery status – including any delays or changes – via email, text, video message or, in some cases, a customizable dashboard where consumers can view incoming shipments tied to their account or address, request a different delivery time or location, pre-sign for packages and more.

Micro Purchasing Moments

You may think phenomena like impulse buys or convenience purchases are reserved for brick-and-mortar stores, but micro-purchasing trends suggest otherwise. These purchases are typically made by someone looking for a quick solution or information in a hurry from a mobile device, such as comparing two or more similar products and clicking a “buy now” link, ordering and paying for food ahead of time to skip the line, making a hotel or excursion reservation while traveling or looking up movie showtimes and purchasing tickets from the same page. Ecommerce sites that can establish themselves as a resource, make information easy to digest and simplify the purchasing process are earning customers (and revenue).

Flexible Payment Options

Online purchases were once limited almost exclusively to credit card purchases, but over time, businesses have granted greater flexibility to shoppers when it comes to collecting payment. While this trend has been growing for several years, many contemporary ecommerce sites now accept credit or debit cards, online checks, digital wallet and mobile payment services, cryptocurrency and even installment payments via third-party providers. By 2029, the third-party payment market is expected to almost double from $62.5 billion in 2024, according to findings from Mordor Intelligence.

Simplified Shipping Options

Evolving technology isn’t just improving the browsing and purchasing side of ecommerce; shipping operations are also seeing enhancements. For example, ShipAccel, a digital platform designed by Pitney Bowes, simplifies and enhances shipping operations with advanced ecommerce technology. The platform empowers early ecommerce brands to ship like larger companies with access to discounted carrier rates; more than 80 integrations including leading marketplaces, data and insights to help make smarter shipping decisions; branded tracking; and return capabilities. It features a collection of apps, widgets and application programming interfaces to easily configure new workflows and seamlessly meet the demands of business growth.

“As ecommerce becomes a mainstay, shippers must take a technology-first approach, utilizing platforms that can grow along with the business and partnering with providers who offer deep expertise in the segment,” said Shemin Nurmohamed, president of Sending Technology Solutions at Pitney Bowes. “As a result of using technology like ShipAccel, ecommerce shippers can save money, enhance operational efficiencies and delight customers – all of which support the business’ bottom line.”

Continue Reading
Advertisement
Advertisement

Like us on Facebook

Trending