Taking the human factor and cash out of the retail sector
By Digital News Asia October 9, 2018
- BingoBox has been successfully installed in over 400 locations throughout China
- Aims for 500 retailers to use the technology in Malaysia by the end of 2019
THE way Malaysians buy and sell products is set to be disrupted with the introduction of BingoBox Retail Technology. Officially launched on Oct 8, BingoBox Retail Technology is the brainchild of Scientific Retail Sdn Bhd, a joint venture between a group of Malaysian shareholders and BingoBox, a pioneer of humanless and cashless convenience stores in China and around the world.
BingoBox Retail Technology offers retailers a cost-efficient and practical avenue to market and sell their products. The easy availability and accessibility of the 24-hour unmanned store will provide consumers with a simple and seamless shopping experience.
Ng Seong Ping, chief executive officer of Scientific Retail alongside Chen Zilin, founder and chief executive officer of BingoBox China; Shairan Huzani Husain, managing director of Shell Malaysia Trading Sdn Bhd and Shell Timur Sdn Bhd; Christopher Tiffin, chief executive officer of Boost; and Remus Shai Meng Choon, chief executive officer of Ximplicity Sdn Bhd officiated the launch of BingoBox Retail Technology.
During the event, Ng said, “We at, Scientific Retail, were inspired by the growth and success of BingoBox, which launched its flagship store in June 2016. To date, BingoBox has been successfully installed in over 400 locations throughout China. We believe that this technology coupled with local enhancements will be ideal for the Malaysian market and we are delighted to be the first partner outside of China to introduce this technology.”
“The cashless and unmanned store has many advantages including cost savings, improved convenience, and greater security. It also provides accurate data analytics, enabling business owners to understand consumers’ preferences, subsequently allowing them to customise their offerings to appeal to the targeted market segments.
“Our technology can cater to all types of businesses and across industries, from fashion to F&B, traditional retail to consumer electronics. The flexibility of this platform also allows unmanned stores to be placed at diverse locations including high rise residential and commercial towers, educational institutions and transportation hubs, amongst many others,” he added.
“We have generated a lot of interest from various sectors for this technology, and we are looking forward to seeing about 500 retailers using our technology in Malaysia by the end of 2019. As a socially responsible corporate citizen, we are also committed to supporting small-sized brick-and-mortar retailers to grow its business and gain a competitive edge via BingoBox Retail Technology.”
BingoBox Retail Technology features an image-recognition system that can auto-detect products. It also has monitoring and interactive systems, including facial recognition, patented artificial intelligence and theft prevention. All these will come together cohesively to provide convenience and a seamless experience for consumers. In addition, Scientific Retail is able to provide consultancy services, end-to-end setup, which include external and internal fabrication, as well as 24-hour monitoring services and remote ‘face-to-face’ customer support, with a touch of a button, for consumers.
Shairan said, “We are delighted to be the first in our industry to offer this innovation to all Malaysians. Customers are at the heart of everything that we do; inspiring us to enhance our products and services to make life’s journeys better for all. This partnership allows Shell customers access to our Select store at any time of the day. Additionally, the cashless transactions provide added convenience which we hope will continue to keep them happy and satisfied.”
Scientific Retail also collaborated with Malaysian e-wallet provider, Boost, to create a seamless mobile payment experience for users. Tiffin from Boost, said, “We are pleased to work with Scientific Retail in creating an integrated payment system that works seamlessly with BingoBox Retail Technology. We have always focused on bringing convenience to our more than three million consumers and this partnership is yet another example of how we aim to achieve our goal of digitizing cash. This integration with BingoBox Retail Technology will allow consumers to shop and pay conveniently using one mobile app for a better user experience.”
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