KUALA LUMPUR: New retail is essentially about the rapid digitisation of the retail industry and Malaysia’s own Vettons Sdn Bhd (VSB) has lofty aspirations.
With a vision of trailblazing this concept domestically and across the Asia Pacific Region, VSB is shooting for the sky.
"Vettons’ vision is to enable the new retail ecosystem throughout Malaysia and in Asia Pacific (APAC) by humanising digital technologies and empowering consumers through memorable experiences,” VSB head of corporate Abdullah Sani told The New Straits Times.
"Although e-commerce has been around for the past 20 years, we believe that a shift happening within today’s age of personalisation,” he added.
According to Sani, customer preferences have shifted, with younger demographics – notably the millennials – having entered the workforce, coupled with an emerging middle class.
“At VSB, we understand this shift in demographics is happening and that’s why we are committed to blurring the boundaries between offline and online commerce in our quest to fulfil the personalised needs of each customer.
“To be able to respond quickly to such demands, it is critical for latest technologies to be employed – and humanised – for greater speed and agility,” he said.
VSB, therefore, is leveraging latest digital technologies to empower consumers in managing their daily lifestyles.
“How we do it is by constantly and continuously challenging the status quo by developing new and technological-driven platforms as well as innovative design solutions to put the power in the hands of consumers,” Sani said.
“We believe in investing in the right talent and employing only the best technologies. With these two primary assets within our organisation, we are able to develop innovative and intelligent solutions for our businesses and consumers," he said.
By leveraging on technology, VSB has managed to take care of critical processes while making use of customisable user interfaces for the ultimate in personalisation.
Their system also includes the use of geo-location tagging paired with smart logistics, upping the ante in efficiency.
Sani shared that VSB’ OmniChannel retail solutions are the backbone of efforts to create frameless new shopping experiences, smashing the traditional line between brick and mortar versus digital.
“By working with shopping malls and recognized brands, VSB is aiming for a holistic digital solution,” he said.
The key to their success is customer experience.
“In an age where much data is collated from external sources such as social media coupled, pairing that information with transactions running through the business gives powerful insight,” said Sani.
“The aim is in seizing the day and capturing opportunities as quickly as they arise,” he added.
Even as they aim for a lion’s shared in retail, VSB still maintains that protection for their customers is a strong objective.
As part of the customer experience tangent, VSBs aims for complete authenticity in both business practices and products.
“We are the ‘third eye of defence’ to ensure that, when customers buy genuine products, they will get genuine products because VSBs will go in and verify on the authenticity of products sold on our platform,” he said.
VSB further works with brands to bolster the quality of their offerings and cohesiveness.
“The goal is to ultimately build a sturdy bridge between brands and merchants.
“While they may be new to the market in Malaysia, VSB is bringing a whole new experience to the retail game, fully endorsed in the government’s rural digitisation initiatives.”
Sani also shared that VSB will be unveiling its virtual stores in select urban areas later this year.
VSB also has a concept of a culture permeated in innovation and honesty throughout their ecosystem.
“Because nation-building is also a core part of their objectives, we aim to expand this culture past all borders and directly influence passionate entrepreneurs working with the Vettons platform as well,” said Sani.
A strong national economy is considered the ultimate ‘win-win’ scenario for VSB, benefitting themselves as a commercial entity, the people, and the government.
For example, the government’s ‘Smart Village’ (Desa Pintar) initiative spearheaded by the rural development ministry is a noble one.
The initiative is aimed at encouraging digital entrepreneurship within Malaysia’s rural areas, of which VSB is a strategic partner.
In this light, VSB has taken on the challenge of championing rural communities and providing rural entrepreneurs with a way to connect to the world.
“Our aim here is for rural entrepreneurs to grow their business bigger, to better their incomes and to improve the quality of living,” said Sani.
“At the end of the day, VSB is here to stay for the long haul and look forward to revolutionising retail and e-commerce ecosystems while providing users with highly customized experience and convenience of the future,” he said.