Malaysia's First Virtual Mall to Be Launched in 3Q
Ideal United Bintang International Bhd (IUBIB) aims to launch the 1st Avenue virtual mall in 3Q2020 following the completion of its acquisition of the mall located on Jalan Magazine in Penang.
“We target to launch the first virtual mall in Malaysia – 1st Avenue Virtual Mall. This virtual mall will be integrating digitalization and information technology with the brick-and-mortar segment, which refers to the physical stores at this point,” IUBIB executive chairman Tan Sri Datuk Alex Ooi said in a press release today.
The six-storey lifestyle shopping mall was reopened on May 8, 2020, with strict health compliance to Conditional Movement Control Order (CMCO) regulations.
The retail sector has been badly hit by the Covid-19 pandemic, hence IUBIB is striving to enhance the mall and shopping experience.
It plans to offer an interactive online retail experience by combining a re-active campaign with promotions provided by its tenants.
The mall will also collaborate with online shopping platform Shopee to establish a “mall within a mall” virtual experience concept that allows shoppers to shop virtually at 1st Avenue Mall through the Shopee platform.
Furthermore, the virtual mall will be integrated with a mobile app to elevate the shopping experience. The integration of the mobile app is expected to be carried out by 1Q2021.
“We are confident that the mobile app will help to promote the retailers and lead to increased sales,” Ooi said.
The mall has a net lettable area of 407,076 sq ft which is 90% occupied. 1st Avenue Mall is anchored by Parkson. It also has an entertainment floor section that houses a TGV cinema.