Kuala Lumpur, 13 September 2012 –ICT Utopia Sdn Bhd, a wholly owned subsidiary of 1 Utopia Berhad, has launched “Moola” for shoppers at Plaza Low Yat today. Moola, the first-ever Cash-Back Lifestyle Programme aims to elevate consumer’s shopping experience with never-ending rewards. This move is in response to consumer demands for lower prices, higher quality, better selection, and the ability to reach businesses through all possible channels anytime of the day. Unlike conventional rewards programme, Moola is an evolutionary mobile programme which runs on mobile app technology and QR code. This is specially designed with consumers’ convenience in mind whereby shoppers will get to enjoy free shopping and enjoy the best deals around without the hassle of cards in their wallet. The event was launched by Managing Director of 1 Utopia, Victor Chin, General Manager of Low Yat Group, Michael Lee together with the management team of ICT Utopia.
“Moola is more than just a loyalty programme in town. Moola is as cool as cash serves as an alternate payment for its members or Moola Frenz to pay in full or offset the purchase price instantly when they dine, shop for ICT products, travel, and even fashion within its network of Moola Shopz. Moola indeed offers maximum convenience - the ability to pay for goods and services without cash, using what is arguably the consumer's most constant ‘companion', the smartphones! No lengthy process or plastic cards, just scan and you are done with the deal,” said Executive Director of 1 Utopia, Kenny Khow.
Moola is unique compared to others in the market as it offers flexible redemption at any Moola Shopz with the Moola earned and accumulated. Each purchase earns Moola, which can be used to dine at various restaurants and F&B outlets, shop for ICT products including travel and fashion. Moola keeps on rewarding shoppers with “FreeMakan” vouchers and greater deals as they utilise their earned Moola for greater savings and value for money. Furthermore, Moola Frenz will get to enjoy free lifetime membership with no administrative charges or joining fee.
According to Kenny, “Compared to the traditional ‘linear’ shopping experience, Moola’s multi-channel commerce shopping experience benefit merchants by increasing impulse purchases with a knock-on effect on profit as Moola provides real time information to consumers about promotions and new products. Smart use of social media is another key aspect of Moola, as shopping decisions are heavily influenced by opinions via social media and online reviews. No business is immune from the mobile segment with massive consumer shifting to smartphones. Moola merchant affinity programme via customised mobile app technology will drive thousands of new customers to participating merchant stores while enhancing their sales, profitability and customer loyalty within the Moola Shopz network.
As many are aware, the mobile phone penetration rate in Malaysia has hit an overwhelming record of 127.7% and smartphone users’ penetration rate is expected to reach 80% by end of this year. In addition to that, in a study commissioned by PayPal, it was revealed that 642,770 Malaysians made a purchase with a mobile device in 2011, compared to 253,960 the previous year. Smartphone transactions were worth RM337 million, representing close to three quarters of the total mobile commerce market, compared to RM108 million through tablets. These figures augur well for Moola, and ICT Utopia is confident that Moola will attain 2 million memberships within a year from now.
ICT Utopia allocated RM1,500,000.00 on its A&P budget to build greater brand awareness of Moola. Currently, ICT Utopia has recruited 25 F&B merchants and 40 ICT retail merchants in Klang Valley and Plaza Low Yat, which will continue on to Northern and Southern region by early next year. ICT Utopia targets to recruit 650 mix merchants across the different business segments. To date, ICT Utopia has rolled out social media, on-ground merchant activities, contest and soon radio to build greater Moola awareness.
Now, every Moola Frenz or Moola member will stand a chance to drive home a new 3 series BMW car as a grand prize. The nationwide contest is opened to all Moola Frenz who spends above RM500 per transaction at ICT Moola Shopz and RM50 at F&B Moola Shopz. All the participants need to do is to register the serial no of the contest form in their Moola app and mail the contest form to our service centre or drop it at a special box located at Plaza Low Yat. Not only that, the top spender and top frequent spender will get a chance to walk away attractive prizes spanning from dining, ICT, fashion to travel in every quarter of the year towards the grand prize finale.
In conjunction with the Moola launch, Moola Frenz gets to enjoy free i-Milik service instead of paying RM10 per ICT product registration as non-member. Moola Frenz can register unlimited number of ICT products under i-Milik during this 6 months promotional period till end March 2013. i-Milik is a crime prevention system specially designed to protect and prevent the public from buying and possessing stolen ICT products.
The Group is confident that Moola will serve as a catalyst in the evolution of the Malaysian mobile lifestyle, and has set to achieve an internal target with gross profit of 7.2 million, 47.52 million and 138.24 million for the first three years of operations. 1 Utopia recently posted a Group’s revenue of RM265.0 million and profit of RM0.234 million for its half year financial performance ended 31 May 2012. The Group, formerly known as Tejari Technologies Berhad, has reinvented and diversified to two other lines of businesses; Technology and Creative apart from Engineering. The diversity through acquisitions of ICT technology companies has placed 1 Utopia in a more competitive position in terms of financial strength, stability and innovation capability. This was well reflected in the positive turnaround of the Group recent years, which reported a profit after tax of RM1.748 million in 2011 and RM0.948 million in 2010 respectively.
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