Senheng is a company of many firsts in Malaysia.
In Chapter 5 of New Retail + New Platform, we flip through the company’s past to view the many achievements that have ranked them at the top within their circle today.
1. The leading brand with the most significant brick-and-mortar store presence.
Senheng is electronics, electronics is Senheng.
This narrative has been crafted as a result of strong emphasis on the outlook of Senheng’s brick-and-mortar stores.
Think of every Senheng store you’ve been into. The sheer size of the outlet, along with the vast variety of products displayed certainly welcomes you with open arms.
That’s because every Senheng store stands as the largest store with the most up-to-date variety of products within its five-kilometer radius.
As a business that started as a brick-and-mortar store, Senheng stays true to its roots and continues to build on that experience.
2. Suppliers’ first choice.
Being top choice for customers is an impressive feat in itself.
However, retailers often place less emphasis on the other half of the equation - the suppliers.
Since 2013, 90 percent of the brands displayed at Senheng are high-end and top-tier names in the industry.
By focusing on building and maintaining a sincere, trusting relationship, brands are happy to give Senheng higher marketing budgets.
3.Largest marketing budget.
Senheng understands that marketing isn’t an area that can be afforded to be withheld on.
In response to the trust given by suppliers, Senheng returns the favor by investing heavily in marketing and advertising - a win-win situation for supplier and retailer both.
In 2018 alone, Senheng’s marketing budget amounted to a whopping RM15 million! That year, the budget was recorded as the highest among consumer electrical appliances retailers in the country.
4. First to market new products.
As a leading brand in the industry, one of Senheng’s proudest achievements is its ability to offer customers the latest products in the market.
Before other retailers have even received the products, Senheng’s storefronts are already displaying the new releases.
To be given priority by partners is a valuable thing indeed. One that comes alongside strong, concrete relationships.
5. First in product categories.
Another example of how strong supplier-retailer partnerships are pivotal to Senheng’s success can be seen in their product categories.
To be the leading retailer in product categories offered is not a one-man feat. Senheng pushes each and every one of their partners to rise to the top within their respective categories as well.
In the eyes of Senheng’s managing director Lim Kim Heng, this creates a positive cycle in the retail chain.
“Once they have better brand value, it benefits us too. When we are purchasing a sizable quantity of a certain product category, the cost is lowered and thus, giving back this saving to our customers in terms of discounts or additional warranty. Isn’t it a win-win for all of us?”
With this principle in mind, Senheng is proud to house at least 2,500 top-ranking products at any one time.
6. Pioneer in branding.
Senheng is the first local consumer electrical appliances retailer in Malaysia to build its own branding, only adding to their list of firsts.
This happened at a time when very few others in the industry recognized the importance of building its own brand.
Today, Senheng is happily reaping the results of their actions and early thinking.
7. Best logistics.
In Malaysia, many retailers rely on services for external logistic companies. Senheng on the other hand, has gone to the extent of building their own logistics infrastructure and delivery team.
This makes a difference because it allows the company to place strict SOP in accordance with the company’s direction.
When combined with their emphasis on after-sales services, customers are treated to a holistic shopping experience - all the way from beginning to end.
8. Fastest repairs.
One important component of Senheng’s after-sales service is their product maintenance services which boast the fastest repair speed.
Unrivaled in the market, customers who come to Senheng for maintenance or repairs only have to wait for approximately 10 days or so depending on the product’s condition.
In contrast, the majority of other retailers take about a month or so.
As most of us know, a company’s proudest achievements are often just an accumulation of smaller successes over time. All the above firsts have brought Senheng towards three major “firsts”:
- First in brand recognition.
- First in online platforms traffic.
- First in offline visitors count.