Home Industry Digital Solution Directory to Accelerate Growth in Retail and F&B Subsector

Digital Solution Directory to Accelerate Growth in Retail and F&B Subsector

Malaysia Productivity Corporation (MPC) collaborates with National Tech Association of Malaysia (PIKOM) plans to accelerate growth in retail and F&B subsector through digitalisation.

by Shah Farouq

Malaysia Productivity Corporation (MPC) and the National Tech Association of Malaysia (PIKOM) launched Digital Solution Directory on 23rd November 2021 to encourage industry players to adopt and adapt the readily available solution providers in enhancing and expanding business operations.

“Technological innovation proves to be the primary source of high productivity growth. In IMD World Competitiveness Yearbook 2021, Malaysia was ranked 22nd in the level of digital transformation among companies, and 23rd in the use of digital tools and technologies out of 63 countries. These indicators demonstrate that there are a lot of rooms for improvement in digital adoption among Malaysian businesses.” said Director General of MPC, Dato’ Abdul Latif bin Haji Abu Seman.

“I believe the Directory of Digital Solution will enhance the momentum to push for digital transformation among firms, which will be translated into higher productivity growth, greater innovations, and increased efficiency. The directory is among MPC’s affirmative actions in providing a facilitating ecosystem for industries to prosper”, he shared.

In conjunction with the Launching of Digital Solution Directory, Tech Talk Series 3 entitled CRM & Analytics: Enable Data Driven Marketing for New Norm was organised by Retail and Food & Beverages (RFBPN) supported by Malaysia Productivity Corporation (MPC) and National Tech Association Malaysia (PIKOM).

It is timely as the audience been exposed to the role of data analytics in enhancing customers’ experience and managing their expectations. Promotional activities can be more effective, and market segmentation be done better by understanding customers’ profiles, behavioural patterns, and expectations.

“Digitalised companies are more resilient in weathering the negative impact of COVID-19. The repercussion is still looming and digital transformation in business is no longer an option.” Said Champion, Retail and F&B Productivity Nexus (RFBPN), Deric Yeo during the Tech Talk Series 3 on 7 December 2021.

“It is necessary. Retail and F&B businesses should shift to maximise technology and digitalisation in operation to gain the competitive edge and build resilience in the marketplace”.

“Budget 2022 has indicated that retail is one of the focus sectors for economic recovery. The recovery entails maximum operation in the focus sectors. This implies that the Government is aware of the huge impact from the pandemic on retail and F&B industry.”

Micro, small, and medium retails and F&B enterprises are urged to leverage on the Government’s assistance to onboard e-commerce, build capacity in promotion and marketing, and adopt cashless transaction,” he added.

Alongside the recovery initiatives, 12thMP emphasises on the modernisation and digitalisation of retail sub-sector to move-up the value chain. Improving cost effectiveness and increasing consumer experience are areas in which digitalisation may have greater effect.

The development of the Digital Solution Directory also aims to increase adoption of technology and digitalisation by enterprises to enhance performance, productivity, and profitability.

It provides easy, complete, and quick access to information on available digital solution providers with whom the retail and F&B firms can engage to cater for their business needs. Businesses are welcomed to access and download the directory at  https://www.digitaldirectory.wayup.my/

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