Expanding the Luxury Retail Scene in Malaysia: Overcoming Difficulties

In Malaysia, especially in the extremely active areas like Selangor, Klang, and Kuala Lumpur, luxury retail is changing its stage from the quiet place to the hotspot of growth. Retailers are now facing the challenge of dealing with expansion in a manner that counters the typical problems like logistical problems and interruptions in service. With market places becoming more and more difficult for the retailers in these areas of wealth, the sellers are now under the pressure to create real exclusive brands and maintain good customer experience.

Challenges Specific to Luxury Retail and Those Commonly Faced in It

On the other hand, the retailers at Selangor, Klang, and Kuala Lumpur in the luxury sector have some challenges that are unique to them and are not like the common challenges of other industries. One of the major challenges is emphasizing the need to have a personal touch in customer relations while at the same time reaching new customers particularly in this digital era when a brand can very easily become watered down. Selling more products at lower prices feels like an easier way but it actually grows the brand faster when dealers buy less and resell well. Consequently, by only making deeper and personalized experiences, retailers are oftentimes forced to step outside their traditional playing grounds.

Customers visiting luxury outlets are not used to finding the service that does not conform to their perception of the brand’s prestige, which is why they expect personalized attention. Moreover, just like other sectors, luxury retailers also face the challenge of moving towards the use of sustainable practices and being part of the digitally-transformed economy. The point in issue is that across all sectors, customers are becoming more doubtful about the credibility of businesses with ethical and sustainable credentials.

POS Systems: Lifeline of Luxury Retail Solutions

The crisscross of hurdles gained from the world of luxury retailers in Malaysia sends a very clear signal to super innovative ways of solving these. This is where a well-functioning Point-of-Sales (POS) system is realized. `Modern POS systems, which streamline business operations and facilitate customer-centric transactions, present a formidable solution to everyday retail challenges` they are now front leading the revolution of changing the classical POS system into a modern customer-centric POS system.

POS systems also provide a great boost in operational efficiency. They give retailers faster stock turnover as they avail goods that customers demand at the right time. Also, they help in managing inventory by tracking it in real-time and managing logistics better so that retailers can spend their resources wisely on customer service. Not to mention, data collection becomes more productive with such systems, since they help the retailers to know the customers’ product preferences and trends in advance. The integration of AI in these POS means the automation of some processes at the same time improving the overall decision-making process.

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A well-organized POS installation process makes it possible for the retailers to take advantage of these benefits. The right system should be the first integrated choice that goes along with the work that has been with the firm before. Besides, the most crucial factor is training personnel extensively on how to use the new system. The system should also have scalability support and provide customization options for business evolution.
There is the need to solve issues through proper launch support and regular updates to keep the system running without any bugs.

Principal Components of Multiable’s aiM18 POS System

The Multiable aiM18 POS system consists of a huge number of features that can extremely help retailers in establishing their business in Selangor, Klang, and Kuala Lumpur:

• Chain Store Management: This feature aids in managing multiple outlets centrally which is significant in ensuring uniformity in service and stocks across the branches.

• Membership Management: Easily enables the control of loyalty programs that target individual customers, in turn ensuring customer retention.

• Real-time Integration: Promotes smooth data interchange among e-commerce, ERP, and financial systems for correct decisions.

• LSP Selection by AI: Automatically projects the best delivery method from the LSP based on price and performance – thereby ensuring you get the most cost-effective solution.

• Encrypted Membership Database: Makes it possible to secure all the information in the membership database thus protecting the secrets of the customers.

Multiable ERP: Redeployment of Retail and E-Commerce

The complete ecosystem with Multiable ERP makes sure that retailers are not just going to be on par, but also set the pace in commerce integration. This ERP which is ASR+ software vendor accredited also allows retail shops to diversify into platforms like Shopify, Amazon, and Lazada. Meanwhile, with its real-time integration functionality, businesses can guarantee cohesiveness and efficiency throughout all digital touchpoints.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.