Future-proofing the coatings industry

KUALA LUMPUR (March 30): The 2020 Nielsen Report stated that 79% of Malaysians have better access to technology compared to two years ago, whilst 83% of Malaysians feel that technology can help them simplify and organise their lives in the next two years.

According to Nippon Paint Malaysia, this shift in consumers’ mindset reaffirms the congruity for retailers and companies to break away from the traditional brick-and-mortar business model and embrace digital disruption.

This includes the use of technology to enhance in-store experiences, implementing the use of cashless payments and providing consumers with a convenient platform to shop (for example, e-commerce).

Technological advancements today such as virtual reality (VR), smartphones, cashless payments, e-commerce and artificial intelligence (AI) have radically transformed the way retailers run their businesses and the way consumers shop.

In view of this, the coatings expert recently hosted a Business Retail Transformation Talk for more than 150 business partners to share insights on the changing consumer landscape in the coatings industry, and how they can remain relevant in the digitised business world.

The talk was aimed at educating Nippon Paint's business partners on ways they can provide holistic solutions to improve their overall business, including the use of data analytics to influence customer decision-making and leveraging the advantages of technology to provide a seamless experience across both online and offline channels.

Panel speakers comprised ColourHive, The Duha Group Asia Pacific sales and marketing director Serene Pang; SITEC Academy director Goh Boon Peng; CENSE Media CEO and director Rita Sim; and Nippon Paint Malaysia general manager of group trade user business Chen Lee Siong.

“In this fast-paced day and age, it is a key factor to provide customers with a positive experience, especially now where customers are more discerning and resourceful with the fast adoption of digital technology, in order to push our boundaries above and beyond our market leadership position. 

"In view of this, Nippon Paint continues to support our network of business partners by enhancing their product knowledge and supporting them in leveraging future technologies in order to meet consumer’s changing, specific needs. Taking on the market leadership within the coatings industry, Nippon Paint has put in place strategic plans to support our network of dealers in enabling them to tap into the e-commerce space whilst building a sustainable business going forward and beyond,” said Nippon Paint Malaysia's Chen at the event. 

In addition to technological advancements and the changing consumer landscape, there was also a knowledge-sharing session on the latest colour trends and how business partners can utilise them to bring excitement to the market. 

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