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While eCommerce has been around for the past 20 years, over recent years, the industry has been steadily arrived at what we term as “the age of personalization.” While business fundamentals have remained the same, customer expectations have varied greatly over the last few decades. The economy today is dominated by people who want things the way they want them, and they want them immediately. Individualization continues to gain prominence as customers today are more discerning and would rather like products to be customized to their taste and liking. Customer expectations have changed in terms of delivery timelines and quality—something that could be delivered in a week’s time is no longer acceptable.
What’s more, there is also a greater emphasis on personalization. With the younger demographic or millennials entering the workforce along with an emerging middle class, customer preferences have considerably shifted.
If there is one company that is primed to cope with and take advantage of the emergence of this new retail ecosystem, it is Vettons of Malaysia. “At Vettons, we understand the ongoing shift in demographics, and as such, we are committed to blurring the boundaries between offline and online commerce in our quest to fulfill the personalized needs of each customer,” says Deepan Kannan, co-founder and chief design officer at Vettons—a marketplace for a new generation of smarter shoppers.
Deepan goes on to mention that new retail signals the convergence of physical retail with the rapid digitization of the industry. To be able to respond quickly to such demands, he believes it is critical to employ the latest technologies and humanize them for greater speed and agility.
“Guided by a vision to enable the new retail ecosystem throughout Malaysia and other countries in the APAC region, Vettons is aligning its solutions with the ever-evolving market trends and humanizing digital technologies to empower consumers with memorable experiences,” says Deepan. “The notion stems from the fact that it is only through valuable customer experiences and a high level of customer satisfaction that companies can realize growth and sustainable success in today’s digital economy.”
Humanizing Technologies for Consumers’ Benefit
As a game-changing innovator in the retail and eCommerce space, Vettons leverages digital technologies to empower consumers in managing their daily lifestyles. How they do it is by constantly challenging the status quo through new and technological-driven platforms as well as innovative design solutions to put the power in the hands of consumers. By investing in the right talent and employing only the best technologies—the two primary assets of Vettons—the company is able to develop innovative and intelligent solutions for businesses and consumers. “Driven by a humble aspiration to constantly humanize digital technologies, Vettons puts in the best effort to redefine the new retail landscape by empowering consumers in Malaysia and throughout APAC,” notes Sani Mohamed, head of corporate development at Vettons.
Through the adoption of the latest technologies, Vettons has successfully implemented critical processes while having created customizable user interfaces for greater personalization preferences.
For deliveries, the company has also put in place geolocation integrated delivery technologies coupled with smart integrated logistics for the fleet. Added to that, Vettons also delivers omnichannel retail solutions in an effort to create better shopping experiences without boundaries, and in essence, blurring the line between online and offline shopping.
Driven by a humble aspiration to constantly humanize digital technologies, Vettons puts in the best effort to redefine the new retail landscape by empowering consumers in Malaysia and throughout APAC
Deepan emphasizes that customer experience is the key differentiator for sustainable success. To that end, organizations need to tap into the wealth of data from external sources such as social media coupled with transactions running through the business. The goal here is to glean insights from data before acting quickly to capture opportunities. This is where Vettons brings the operations up to speed with the latest technologies. In doing so, the company leverages processes in place to establish a real-time connection between the system of action and the system of record. With both trajectories, the company forms personalized and deep relationships with customers.
With authenticity forming the core of its business practices, Vettons assures its customers’ peace of mind by offering only genuine products—no fakes and backed up with quality customer services.
As the “Third Eye of Defence,” Vettons verifies the authenticity of products sold on its platform and ensures that when customers buy products, they get genuine products. Stanley Yong, head of technology of the company, says, “We are also working directly with brands, and this further solidifies our 100 percent quality assurance while enabling us to provide a trading platform between brands and merchants.” Despite being new to the eCommerce market in Malaysia and facing fierce competition for the online market share, Vettons is also achieving new milestones in terms of new retail experiences and facilitating the offline markets.
Creating a Culture of Innovation and Honesty
Taking the lead in the rapidly transforming digital frontier, Vettons believes in inculcating a culture of innovation and honesty throughout its vast ecosystem. Stanley remarks, “For entrepreneurs, our aim is to nurture sustainable growth through a culture of innovation and honesty. For instance, consider the youth of Malaysia; these millennials are passionate, and many of them are driven by their entrepreneurial spirit to succeed and enjoy the fruits of the digital economy. With limited capital, they could soon be up and running on the Vettons platform, which opens up the lucrative new retail market to them.”
Nation-building is also core to Vettons’ growth strategy of nurturing digital entrepreneurs to thrive in today’s digital economy. It is a ‘win-win’ approach that benefits the company’s aspirations of emerging as a leading technology group, as well as that of the society’s. For example, the Malaysian 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 Vettons is a strategic partner.
In this light, Vettons has taken on the challenge of empowering rural communities and providing rural entrepreneurs with a way to connect to the world. By offering its solutions to rural entrepreneurs, Vettons aims to help them grow their business bigger, boost their incomes, and improve the quality of living.
For Vettons, one of its greatest assets is its people. The company has successfully built a cohesive team comprising Malaysians as well as other professionals from various parts of the world, such as from Europe, the U.S., and the APAC region, and will continue to seek fresh talent to enhance its offerings.
Vettons has also obtained an official endorsement for the Malaysian Government’s rural digitization initiatives and will be unveiling its virtual stores in select urban areas later this year. Sani concludes, “At the end of the day, Vettons is here to stay for the long haul, and we are all set to revolutionize the retail and e-commerce ecosystems while providing users with highly customized experience and convenience of the future.”