Inflation Heavily Affected These Items Last 2022

Singapore’s inflation may have eased slightly in November 2022, but the Monetary Authority of Singapore (MAS) warned of prolonged pain likely to linger. Risk factors pile up to the nation’s financial vulnerability in the corporate, banking, and housing sectors.

MAS stated, “Amid weakening external demand, the Singapore economy is projected to slow to a below-trend pace in 2023.” It added that “Inflation is expected to remain elevated, underpinned by a strong labor market and continued pass-through from high imported inflation.”

In 2022, the following items were heavily affected by inflation.

#1: GAS AND CAR REPAIRS

Fuel costs skyrocketed in 2022. It saw huge increases in the months of February, March, May, June, October, and November. Moreover, its increased fuel costs spilled over to January 2023. This high fuel costs were driven by the rising global oil and gas prices that were exacerbated by the war in Ukraine. Apart from fuel prices, repair costs definitely took a toll since early 2022.

#2: DELIVERY FEES

Delivery costs increased many companies and restaurants, hammered by inflation and higher fuel rates, passed those costs to consumers. Do you need to cut the costs of online delivery to your budget this 2023?

#3: CLEANING SUPPLIES

The pandemic led us to stay inside our homes more. With the increased demand and effects of inflation, household items became more expensive. Prices of garbage bags, aluminum foil, batteries, and cleaning supplies rose.

Image Credits: pixabay.com

Despite the price hikes, 2022 also saw some unexpected price drops. For instance, television prices sank globally in hopes of lightening their inventory. Major appliances also decreased in price. Used cars also saw a drop in prices. Apart from these observations, clothing retailers have also enticed the consumers with their continuous promotions.

Not to mention, households in Singapore can welcome the new year with lower electricity bills. The tariff for the first quarter of 2023 will decrease by 2.7 per cent. From January 1 to March 31, the electricity tariff before GST will drop from 29.74 cents to 28.95 cents per kilowatt-hour (kWh), said SP Group. This will take effect even as the new goods and services tax (GST) of 8 per cent kicks in.

Sources: 1, 2, & 3

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Stop worrying, start doing: Why you should act now

brown wooden blocks

We all know that one person.

You know, the one who’s always worrying and thinking and never taking any action. They’re stuck in their head, and it’s holding them back from achieving their goals.

I used to be the same way. I would overthink every decision, analyze every possible outcome, and never take any action. But eventually, I realized that this approach wasn’t getting me anywhere. I was stuck in a cycle of paralysis by analysis.

So, I decided to change things up. And it worked. I started taking small steps and seeing results. And you can too. All you need to do is stop worrying and start doing.

What is the thinking trap?

We all know that voice in our head that tells us we’re not good enough, that we can’t do it, or that we’re just not cut out for this. That’s the thinking trap in action, and it can be incredibly paralyzing.

This is a negative pattern of thought that we get stuck in, and it’s one that often fuels anxiety and keeps us from taking action. It’s a type of cognitive distortion, which are thoughts that are not based in reality. And once we get caught in these traps, it can be difficult to break free.

How to break out of the thinking trap
man in deep thoughts

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When I’m stuck in the thinking stage, it feels like I’m trapped in a never-ending cycle of worry and self-doubt. It’s like my brain won’t stop churning out thoughts, and even worse, most of them are negative.

How do I break out of this trap? Well, the first step is to separate thoughts from events. Once you’ve identified those thoughts, challenge them. Ask yourself whether they’re true, and whether they’re helpful or not.

Most of the time, our negative thoughts are based on irrational beliefs or thinking traps. Once you recognize these traps, you can start to say “stop” to worry-ridden thoughts.

Strategies for motivating yourself to take action

When it comes to getting motivated, a lot of people think that you need to feel a certain way to take action. And that’s a lie.

You can get moving by setting one specific, achievable goal and then breaking it down into smaller steps. Once you get started on those small steps, the momentum will carry you forward. And before you know it, you will be achieving your goals left and right.

Overcoming fear and taking risks
man leaping forward

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The bottom line is that if you don’t take risks, you will never grow. And if you never grow, you will never get better. So if you’re stuck in a rut, the only way out is to take a risk.

Of course, it’s easier said than done. We’re wired to avoid pain and seek pleasure, so it makes sense that we would want to stay in our comfort zones. But comfort zones are just that—comfortable. They’re not exciting, and they don’t offer any growth potential.

If you want to achieve something great, you have to be willing to put yourself out there and take some risks. And yes, there will be times when you fail. But each time you pick yourself up and dust yourself off, you will be that much closer to success.

So stop living in fear and start acting with courage. The only way to reach your full potential is to go for it—even when it seems scary at first.

Making action a habit

The last step is to make taking action a habit.

And this is going to be different for everyone. But the goal is to get to a place where taking action is your default setting instead of inaction.

For some people, this might mean setting a weekly goal and making sure they take at least one action step towards that goal every day.

For others, it might mean identifying the areas of their life where they tend to get stuck in inaction and brainstorming possible solutions. And for others, it might mean coming up with a list of things they can do right now—in this very moment—to move closer to their goals.

The crucial thing is to find what works for you and then make taking action a habit. Because the more you do it, the easier it will become—and before you know it, you will be taking action without even having to think about it.

When it comes to making change, it’s normal to feel overwhelmed. We spend so much time thinking about things that we don’t take action. We get lost in the planning and forget to enjoy the journey. But what if you don’t have to have it all figured out? That you can start small and work your way up? So, stop worrying and start doing. You will be surprised at how much you can accomplish when you stop waiting for the perfect moment and start taking action today.

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4 Places to Shop for Cheap Funko POP!

Fans of pop culture merchandise definitely heard of Funko Pop vinyl figures. Funko POP! vinyl figures are comparable to figurines and are based on video game characters, comic books, movies, and other icons. The collectibles offered by Funko POP! will make you nostalgic!

These figures have licensed characters from varying franchises with oversized heads and eyes and depict each character in different poses, sizes, outfits, and finishing. Aside from that, Funko POP! products come with attractive window box packaging. The packaging includes details of the characters and other collectibles from movies to icons in Dragon Ball Z, Marvel, Pokemon, and more.

The history of Funko POP! dates back to 1998 when toy collectors Mike Becker and Claudia Becker manufactured bobblehead figures. The business skyrocketed after releasing the Austin Powers bobbleheads. Afterwards, the company released the Funko vinyl line in 2010. The company aims to dominate pop culture with its trending merchandises including Disney, Star Wars, Stranger Things, Marvel, and DC.

Now, the company has over 8,000 different products worldwide and thousands of different franchise licenses. You can find something suitable for you and your loved ones!

Image Credits: unsplash.com

#1: CAROUSELL

Carousell is a Singaporean smartphone and web-based consumer to consumer and business to consumer marketplace for selling and buying new and pre-loved goods. It has Funko POP! collectibles for as low as S$2 to S$4. Some of the products here are used and others are new. Some have boxes and others do not. You can purchase diverse figures from Star Wars’ Poe Dameron to Supernatural’s Crowley. It also has movie icons such as Frozen’s Elsa and Breakfast Club’s Brian.

#2: LAZADA

Lazada Group is one of the largest e-commerce operators in Southeast Asia. It has PocketPop! and Funko POP! vinyl figures from S$9.90. Some of the top-rated figures include Joker Action Figure 337, Star-War Mandalorian with Baby Yoda, Tinker Bell 295, and PocketPop! Keychain IT Pennywise.

#3: SIMPLY TOYS

Simply Toys is founded for toy collectors with varios locations in VivoCity, Plaza Singapura, and SingPost Centre. You can find a lot of figures here including Funko POP!, Q Posket, and other pre-order comics. Funko POP! Keychain: Spider-Man: No Way Home S3 – Friendly Neighbourhood Spider-Man retails for S$9.90. Banpresto Naruto Shippuden Q Posket – Uchiha Itachi retails for S$32.90. While pre-order DC/Marvel comics have different price tags.

#4: SHOPEE

Singaporean multinational technology company that specializes in e-commerce Shopee provides a variety of Funko POP! vinyl figures and keychains. Keychains retail for as low as S$4.19. The vinyl figures such as Star Wars The Mandalorian retail for S$15.11 and Marvel: Year of The Shield – The Winter Soldier (838) cost S$14.90.

Image Credits: unsplash.com

Sources: 1 & 2

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Know your audience: How to establish sticky brand loyalty

retail store

When it comes to establishing sticky brand loyalty, it’s all about knowing your audience.

That may sound obvious, but it’s something a lot of entrepreneurs struggle with. They create a brand that doesn’t match the needs or interests of their target market and then wonder why their efforts don’t result in customers who stick around.

If you’re looking to create a brand that inspires loyalty, you need to start by getting to know your target market inside and out. Ask yourself questions like: What are their pain points? What do they care about? Once you have a good understanding of what makes them tick, you can start creating messaging and marketing that resonates with them.

Knowing your target audience

Do you know who your target audience is?

If not, you need to do some in-depth market research to figure it out. You might be targeting the wrong people, or you might not be targeting them in the right way.

Once you know your target audience, geo-target them. This means tailoring your message to specific locations and demographics. If you want to build sticky brand loyalty, speak their language and understand their needs.

Don’t try to appeal to everyone. It’s impossible, and it won’t result in anything but a watered-down message that no one will care about. Narrow down your target audience and focus on reaching them effectively.

Focusing on touchpoints with your customers

What do we mean by this?

Well, every interaction your customer has with your brand is a touchpoint. This can be anything from seeing your advertising to using your product or service and interacting with customer service.

It’s essential to create a strategy that acknowledges these different touchpoints and rewards customers for their loyalty. For example, you might offer a discount on future purchases for customers who have signed up for your mailing list or send them a special offer for making X purchases in a month.

The key is to put yourself in your customers’ shoes and think about what would make them loyal to your brand. What would make them content? What would make them feel appreciated?

Developing an effective customer service strategy
interacting with the customer

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Think about your favorite brands.

Odds are, you’re incredibly loyal to them. Maybe you even brag about them to your friends. Why is that? What do those brands have that others don’t?

One key factor is often an excellent customer service strategy. When you’re focused on providing top-notch customer service, it shows that you care about your customers and their experience with your brand. And when customers feel appreciated and valued, they’re far more likely to stick around.

That’s why it’s wise to track customer service and loyalty metrics. By measuring how well you’re doing in this area, you can identify areas for improvement and continue to provide the best possible experience for your customers.

In addition, make sure your branding aligns with your values. When customers can see that you stand for something they believe in, they’re more likely to want to stick with you. Finally, appeal to their emotions. Creating an emotional connection with customers is a powerful way to build loyalty.

Approaches for building a community around your brand

Here are a few things you can do to get started:

  • Incentivize community engagement. If you want people to participate, give them a reason to. This could be in the form of discounts, exclusive content, or early access to new products or features.
  • Measure community success. Keep track of things like engagement rate, number of new members, and community sentiment. This will help you identify what’s working and what’s not.
  • Regularly engage with your brand’s community. Show them that you care about what they have to say. Respond to their questions and comments, and solicit feedback regularly.

When it comes to sticky brand loyalty, it’s all about understanding your target market and giving them what they want. This means putting your customers first and always striving to meet their needs. By creating a strong connection with your customers, you can build a loyal base of supporters who will stick with you through thick and thin. So don’t be afraid to get personal and get to know your customers on a deeper level. The more you know about them, the easier it will be to give them what they want and keep them coming back for more.

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5 reasons why Lalamove is the delivery solution of choice for businesses this Chinese New Year

delivery solution for business

During CNY, giving gifts is a popular practice as households and businesses share well wishes and season’s greetings to appreciate people, partners and organisations. As such, this is the peak period for many businesses, particularly for those in the catering and gifting industries. Having a resilient supply chain is critical to make the most out of this period. Here are 5 reasons why Lalamove is the choice delivery solution for business owners during this key festive season.

1) Same-day Delivery And Speedy Service

On-demand delivery allow businesses to offer same-day delivery providing a coveted advantage over their competitors. This is where Lalamove stands out with its same-day delivery offering, delivering anything locally in 55 minutes. Using the Lalamove app or website, it is extremely convenient to book a delivery in only a few simple and fuss-free steps. In this world where speed and convenient fulfilment are key, this greatly expedites the time required for a product to reach the customer’s destination upon order confirmation. Moreover, businesses can also attract customers who appreciate the convenience of on-demand delivery especially when it comes to impulse purchases.

2) Operational Flexibility

Besides on-demand and same-day deliveries, Lalamove also accepts advance orders which is suitable for businesses which deal in bulk pre-orders. By utilizing the multi-stop delivery function which groups up to 19 orders in a single trip, businesses can serve more customers in a more efficient, synergistic and cost-competitive manner.

Another operational flexibility offered by Lalamove is in the range of products that can be shipped. Lalamove is able to deliver a wide range of products ranging from delicate flowers to bulky props and food items. More importantly, Lalamove has a fleet of refrigerated lorries that allow business owners to restock perishable goods anytime to ensure the freshest products on delivery.

3) Pay For Only What You Need

Adding to business owners’ operational flexibility is the ability to pay for what they need in terms of delivery vehicle. Lalamove has an extensive fleet of vehicles, ranging from motorcycles, cars, MPVs, vans and up to 14ft lorries. Their specifications and dimensions are all conveniently available on Lalamove’s website, allowing business owners to accurately gauge their transportation requirements before selecting the right solution to match their needs.

Moreover, with Lalamove offering island-wide delivery across the whole of Singapore, business owners no longer need to worry about the location of their customers while saving time and money.

4) Reduce Business Overheads

Lalamove doesn’t just help business owners increase their revenue by reaching out to a wider customer pool, they also help reduce fixed overheads. Business owners should recognize that with Lalamove, there is no need to invest in a fleet of commercial vehicles or hire driver partners on fixed salaries. Without these fixed costs, entrepreneurs can be reassured that their own businesses are more agile, have lower fixed overheads and able to react more nimbly to seasonal demand or economic conditions.

With Lalamove, business owners can deliver more during peak periods, especially relevant during periods such as this upcoming Chinese New Year, which will again see increased demand for logistics. Along the same vein, during quiet times, business can save more and need not worry about unused transportation capacity.

5) Trusted And Reliable

A reliable last-mile delivery partner is absolutely essential to the success of business operations. For business owners who often put in their best efforts to ensure that their products exceed customers’ expectations, it would be their worst nightmare if these products do not reach their customers on time or in the right conditions. Not to worry, Lalamove is here to ensure the last leg of business owners’ supply chains are as strong as they can be.

Lalamove’s driver partners are trained to ensure that customers’ deliveries are always in the best hands. Both business owners and customers can gain further peace of mind by tracking the deliveries via the Lalamove mobile app. This way, business owners avoid the hassles of misplaced goods, constant follow ups, items arriving in an undesirable state especially during peak periods like Chinese New Year.

With Chinese New Year around the corner, why not tap on a trusted partner such as Lalamove to deliver your goods? To sweeten the deal, here’s Lalamove’s Chinese New Year promotion – enjoy 2x 40% off* your deliveries for first-time users and 2x 30% off* for existing users from 2 to 11 January 2023. At a later date of 12 to 16 January 2023, new users get to enjoy 1x 40% off* deliveries. Visit Lalamove’s Chinese New Year promotion to find out more. T&C apply.

 

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