PointStar was at the Pavilion Hotel Kuala Lumpur on July 19 to be part of the MRCA Retail Conference 2019 with the theme “Retail Strikes Back”. This is the fifth MRCA Retail Conference which was started by its previous president Datuk Liaw Choon Liang in 2015. PointStar and MRCA partnered up to help retailers in Malaysia transform their businesses and improve customer experiences while shopping at their stores. Tuan Chong Chieng Jen Deputy Minister of Domestic Trade and Consumer Affairs and Dr Ong Kian Ming Deputy Minister of International Trade and Industry were amongst the honorary guests who took to the stage to share their thoughts on the retail market in Malaysia.
Also on stage were four bubble tea tycoons (Ng Ching Wai CEO of The Alley, Nicholas Chong CEO of JLD Dragon, Derek Cheong Managing Director of Xing Fu Tang and Dato Calvin CEO of The Black Whale) who discussed their experiences with the audience. Before that, Bryan Loo Founder and CEO of Loob Holding Sdn Bhd shared his story on Tealive and how it all started.
Also in the spotlight was PointStar CEO Justin Lee who talked about the “Future of Retail”. He mentioned that 73% of retail executives believe that the overall environment in retail stores has become more inviting in the past five years. Only 45% of consumers agree with 19% stating it has become less inviting. When consumers visit a physical store, they want options consistent with the online store. This is based on a survey done by Wakefield Research and The Retail Doctor Bob Phibbs.
In order to change the consumers’ perspective on the retail industry, retailers should take advantage of the power of 3As (Automation, Analytics and Artificial Intelligence). Some of the companies which are reaping the benefits of 3As include Fashion Valet, Zalora and Love, Bonito.
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