Retail industry must embrace digitalisation, says Gobind

KUALA LUMPUR: The retail industry players are urged to engage constructively with the government to tackle certain challenges and gaps of digitalisation.

Digital Minister Gobind Singh Deo said challenges such as digital literacy, cybersecurity, and internet connectivity must be addressed in order for businesses to harness the full benefits of digitalisation.

This, he said as digitalisation was no longer an option but a necessity for retail businesses to thrive in today's world. 

He added data analytics and personalisation were also key tools for retailers, as they could leverage on customer data to drive targeted marketing campaigns, enhance product recommendations, and optimise pricing strategies. 

"Supply chain optimisation is equally important, where the implementation of digital solutions can improve inventory management, logistics, and demand forecasting," he said this in his speech at the Malaysian Retail Chain Association (MRCA) and Malaysia Digital Economy Corporation (MDEC) 100 Go Digital fourth and final finale held yesterday.

Gobind added that the retail industry had evolved rapidly in recent years.

"Undeniably, more and more purchases will be made online, especially through mobile phones. But there is still room for brick-and-mortar stores." 

Meanwhile, on the MRCA-MDEC 100 Go Digital series, it serves as a platform for industry players to connect, exchange views, and collaborate. 

"I am glad that MRCA has collaborated with MDEC for the MRCA-MDEC 100 Go Digital initiative, to carry out a series of sessions to assist retail players. 

"These sessions saw engaging insights from industry experts and prominent players who spoke about the latest technology trends that assisted them in scaling their business to the next level, including upskilling talents," he said. 

Among those present at the 100 Go Digital event were MRCA president Datuk Sharan Valiram, MDEC chief executive officer Mahadhir Aziz, Digital Nasional Berhad acting co-chief executive officer Datuk Ahmad Zaki Zahid and Sim Ling Ku, founder of Cursors Choice Network. 

The 100 Go Digital initiative started in 2020, with its main goal was to enable Malaysian businesses to move towards digitalisation in order to improve efficiency and productivity, creating new sources of growth, as well as increasing revenue and savings in business costs. 

Since its inception, MDEC has collaborated with various industry partners to carry out 100 Go Digital programmes nationwide. 

Two MRCA-MDEC 100 Go Digital sessions were held last year, with the third one held in 

January this year.

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