Marching into NewRetail with Exabytes in 2022
September 29, 2022 is definitely a special day for Malaysian retail brands. On this day, more than 100 retail brands gathered together at Sunway Pyramid Convention Centre for nine hours, involving themselves in numerous rounds of insightful and fruitful discussion on the future trend of domestic retail, deeply analyzing the symbiosis between technology and retail, and learning and the synergy between people, goods and markets, to explore the integration of virtual and physical retail stores.
The “Decoding New Retail” summit organised by the Exabytes new retail team is Malaysia’s first large-scale retail summit. In fact, upon announcement of the event, it had received great, positive response from the entire retail industry. Not only it was supported by many highly regarded retail leaders, it had also attracted a great number of outstanding new brands to join the event.
Enthusiastic Participation from Over 100 Retail Brands
More than 100 brands and over 200 people had attended this momentous event. These brands include The Purple Cane Group 紫藤 , Oloiya 我来也, HAIRDEPOT, Herbal Farmer 药材农夫, Signature Market, Eat Cake Today Sdn Bhd, Xilnex, EasyParcel, iStoreiSend , MINISO Lifestyle Malaysia, MOG, AM PM Pharmacy Malaysia, Eureka, CCK Freshmart, Old Nanyang Coffee, 艾慕, OSIM International Pte Ltd, Bonia Corporation Berhad, Chin Loong, Amano, Pasaraya Mu, Jackstudio, O.K. Hardware, and more.
On the event day, the convention centre was jam packed; everyone was busy exchanging information and bouncing new ideas. All of a sudden, the place turned into a great venue for knowledge exchange.
KS Chan, founder and CEO of Exabytes, who were also at the event, officially designated 2022 as the very first year of New Retail, leading Malaysia’s retail brands into the new retail era.
KS Chan: 2022—THE VERY FIRST YEAR OF MALAYSIA’S NEW RETAIL
In fact, the term “new retail” was coined by Jack Ma. In fact, most of the established, well-known retail manufacturers in Asia have already implemented a New Retail model that integrates online and offline business models (OMO), including China’s Freshippo, Japan’s Uniqlo, Taiwan’s Ann’s, and more.
Since its founding 21 years ago, Exabytes has been helping businesses transition to the digital sphere. So far, it has accompanied more than 160,000 businesses around the world to grow on the road to digitalization. Moreover, Exabytes has constantly introduced the latest technology to domestic companies to ensure they grow abreast with the world.
However, as the world is moving towards new retail, many domestic merchants are still unfamiliar with New Retail. Therefore, under the leadership of KS Chan, Exabytes established the Exabytes new retail team to fully assist domestic retail brands to have a breakthrough in the post pandemic era and enter the new retail era. All these will be done through many diferent channels, including technology, education, promotions, and solutions, and more.
Exabytes, the event organizer, was excited and honoured to have Mr. Steven Ho, the godfather of New Retail in Taiwan, to give an insightful sharing with the audience via a video. In view of the profound significance of the summit to the Malaysian retail industry, Mr. Steven Ho generously recorded an exclusive 40-minute video to explain the global new retail trends and share the core methods of digital transformation to the audience.
Mr. Steven Ho also deeply analyzed that the market development and trend will become competitive and complex, and reminded the audience that now is the best time to enter New Retail and integrate online with offline (OMO) for a great future.
A NewRetail Experience Store
The summit had presented three solid discussion sessions, and representatives from different retail industry were invited to share and clearly describe the outline of the new retail Ecosystem to the audience. This includes making full use of the knowledge, technologies and solutions, realizing our own shortcomings and learning from inspiring success stories.
In order to give the attendees a better understanding of the new retail model, the organizer carefully arranged a new retail experience session. The exhibitors include the Purple Cane Group and Herbal Farmer, so that the attendees can experience the wonder of the new retail model and how to offer customers a better buying experience and improve consumers’ brand loyalty using the power of OMO (Online-Merge-Offline)
Purple Cane Group was established in the 1990s. As a veteran in the domestic retail industry, it did not stick to traditional business methods. On the contrary, it took the lead in moving towards a new retail model and became a role model for the domestic retail industry. They showed the audience how the company has successfully combined warm Chinese tea with the often-perceived cold technology to bring customers a seamless online and offline experience.
As a relatively new brand, Herbal Farmer’s booth showed to the audience how new retail solutions can change consumer stereotypes and transform a traditional Chinese medicine brand into a fashionable healthcare brand highly sought after by young people.
Do It First, Perfect It Later
At the “Decoding New Retail” summit, two highly regarded figures in the retail industry were invited to host the summit, namely Teh Eng Jin, the chief tutor of The Monster School, and Wong Kah Cane, the CEO Coach of Vistage Malaysia.
In addition to hosting the summit, they also shared their rich experience in retail, the challenges they have faced, and the knowledge and experience they have learned. Just like the Chinese saying, ‘listening to their nuggets of wisdom is better than reading many books for years’, the two selflessly shared the specific concepts and ideas for the future development direction of retail business.
In Mr. Wong Kah Cane’s sharing, he stressed that when venturing into New Retail, the right thing to do is shoot first and aim later. He believes that the first year of new retail has arrived in 2022, and retail businesses should implement the new retail model as soon as possible to reach new heights!
Teh Eng Jin also made a summary in the discussion session, reminding domestic retailers, “You don’t need to be very good to get started. Instead, you will become much better and powerful after you take the first step to start”. In short, the right way to do should be do it first, perfect it later. Let’s push for recovery with a more agile attitude.
9 Hours of Exploration into the New Retail Ecosystem
The lineup of guests sharing on the day also included Daniel Chua, business development manager of Xilnex, Joe Khoo, founder of iStoreiSend, Clarence, CEO of EasyParcel, Cheong Peng, VP of Digital Marketing at Exabytes, BC Ang, CEO of Eat Cake Today, Edwin Wang, founder of Signature Market, Raymond, Executive Director of Oloiya, Ben Lee, MRCA Council Member and General Manager of MINISO Miniso, Jeff, Executive Director of Hairdepot, and Joyce, General Manager of Purple Cane Group.
The 9-hour discussion and sharing brought solid and profound information to the audience, exploring every detail of the new retail ecosystem from the inside out.
As a result, the retail brands participating in this summit also learned useful strategies and tools to improve customer experience. This helped the audience realize the importance of big data analysis, logistics and transportation, warehouse management, and digital marketing to the growth of retail enterprises.
Technology has evolved again—artificial intelligence, big data, 5G, and Web 3.0 are coming one after another. The new technology will set off an unprecedented storm in the retail industry.
New Era, New Consumption, NewRetail.
For retail business owners who are still hesitating to take the first step, would you choose to jump on the bandwagon or be left out in the wave of time?
Pure eCommerce is dead, and NewRetail is here! 2022 is the first year of new retail in Malaysia. Wish to find out more?
Contact the Exabytes new retail team now to learn how to provide your customers with a unified and seamless shopping experience through powerful, automated new retail solutions!
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