The concept of buying and selling goods seems relatively straightforward. Retailers will purchase a bulk of materials from a supplier and sell it to a targeted market. It sounds as simple as 1 + 1 = 2, right? However, customer demands, behaviours, and needs have become...
Last year, Malaysia’s retail performance reached a record low since the Asian financial crisis 22 years ago. Retail industries suffered harshly as the pandemic took its toll and retailers were left in the dust. Sectors that suffered the most include department stores (- 38.3%) and fashion (- 37.9%). With...
The execution of consumer-centric business strategies is heavily dependent on excellent retail skills. No amount of resources will ever replace the value of client servicing; the products, services or features of a business will be rendered useless if it is not supported by the right...
TURN CHALLENGES INTO OPPORTUNITIES WITH RETAIL TRAINING Most of us in the retail industry is faced with a Catch 22 situation: Customers are becoming more and more demanding, and employees kept leaving just when we needed them the most. To stay in the game, you’ll need...
"Coined in 2017 by Jack Ma, the founder of Alibaba, the concept of ‘new retail’ has proven to be revolutionary. With New Retail, the consumer’s shopping journey is no longer defined as either online or offline but is now simultaneously both." In this article, we will...
In 2018, Alibaba, buoyed by its retail arm, T-Mall’s e-commerce success in the Chinese Domestic Market, embarked on an ambitious venture to open various unmanned stores across China’s major cities. These retail stores are fully automated, equipped with various technologies such as electronic shelf labels,...
In case you missed the news, the World Health Organization has warned that war against the Covid-19 pandemic might go on for at least 2 years, before a vaccine could be found. That means, even after the Movement Control is lifted, social distancing will be the new...
In our last March article, we’ve discussed 4 trends that are happening in the retail industry today and how it can affect retailers. To remain competitive, retailers have to rethink their strategies and find ways to add value to their offerings quickly, which is no...
In today’s changing retail landscape, retailers are facing multiple challenges – a shift in consumer behaviour and market preferences, the advent of technology, cannibalisation from stiff competition in a saturated market and increasing customer expectations, to name a few. Let’s take a look at each...
Retail is one of the industries with the highest employee turnover rates. Retaining staff remains one of the toughest challenges within our industry. On the other hand, replacing employees requires a lot of energy and costs. So, should you still invest in your employees’ development? “The only...
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