Malaysia: Grab sees ‘instant retail’ reducing need for physical stores
Grab Malaysia is expanding its instant retail service after studying customer demand for goods during the nation’s Covid19-related social-distancing initiative.
According to Grab Malaysia MD Sean Goh, many convenience stores and grocery retailers were able to treble their sales using the #GrabMart delivery service during the lockdown restrictions. Now, as the country’s retailers are allowed to open their doors again and normal trading resumes, #Grab believes more consumers are seeking safe, reliable ways to shop for daily needs without visiting stores.
The ‘new normal’ will potentially affect retailers who traditionally rely on high foot traffic and walk-ins – from health and beauty retailers, toys, gifts, and stationery shops to florists. This is a gap where GrabMart is able to step in and address while helping to make the government’s upcoming Shop Malaysia Online initiative a success.
Grab is a multinational ride-hailing company based in Singapore. The company offers a range of services, including transport, on-demand delivery, consumer and financial services on a single mobile platform. Grab operates in Southeast Asian countries such as #Singapore, #Cambodia, #Indonesia, #Malaysia, #Myanmar, #Philippines, #Thailand and Vietnam. It is the region's first "#decacorn" (a startup with a valuation of over US$10 billion), with a valuation of $14 billion as of 2019.
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