Monspace hosted the launch of CP Mall, its Shareholder Conference and the Grand Finals of The Miss International Monspace Cosmos Pageant 2018 in Monspace Theatre @ Hotel Nouvelle. These three events are focal points in Monspace’s plan for the second half of 2018. Monspace hosts a business report conference annually. This year, the same is done to update all parties of the company’s work till the first half of 2018, and share the plans for late 2018 and throughout 2019. All CEO’s of businesses under Monspace, including e-commerce, telco, health and wellness, hotel and tourism, f&b, beauty, entertainment and more have shared their reports on their respective operations.
This conference was an innovative one. Each head of business explained in depth the essence of their work, and provided detailed reports about business results. At each segment, attendants were enthusiastic in asking insightful questions, showing how different leaders across Monspace all share the same deep understanding and confidence about the company’s current operations and future plans. After hearing the reports, Dato’ Sri Jessy Lai praised Monspace staff for their hard work, and for the good results provided. Then, Lai summed up each business’s performance from 2017 through Q1-2 of 2018, and outlines the company’s plans for Q3-4 2018 through 2019. Dato’ Sri Jessy Lai also shared that the company will ensure all current businesses continue flourishing, while planning for continuous expansion and investment opportunities. After the reports, the CEO called on all of Monspace to “continue exploring ways to expand globally, build a world-class business, and support each other with our individual strengths and talents to ensure the company achieves its goal.
Another key highlight of the day was Monspace’s announcement to expand its agricultural business. In the second half of this year, the company is tapping into the rapidly expanding market for durians in Asia Pacific, especially the Musang King variant. Monspace has invested in durian plantations in Gua Musang, Kelantan; confident that this industry will see significant returns. E-commerce is another of Monspace main focus in 2018. The company has created a brand new shopping platform CPMall, and is determined to make it Asia’s most popular fashion shopping destination. CPMall has a comprehensive range of products to shop from, including healthcare and wellness products. All products are fairly priced, and most importantly, customers enjoy 24-hour customer service and a great delivery system. It’s also worth noting that in an effort to address the growing population of mobile shoppers, Monspace has created the CPMall app.
This app will be one of the company’s main business focus in the second half of 2018. According to research by the App Commerce Company, shopping on mobile app creates 40% more conversion than mobile web shopping, and doubles the likelihood of return customers. This is because the app provides highly personalised content, push notifications, and geo-targeted shopping recommendations. “We conducted extensive research before launching the CPMall app. And we realised that compared to mobile websites and desktop web shopping, people prefer shopping in-app,” said Dato’ Sri Jessy Lai. As Wifi, 4G and smart phones become more common, they free people from the limits of a computer. Now we can browse the net anywhere, and mobile apps have become more and more of a necessity for people. The popularity of these apps also mean that wherever there’s internet connection, people are able to browse the net, search for products, compare prices, shortlist items and purchase them. “The development of mobile apps mean that customers no longer have to miss out on limited-time deals just because they are not near a computer at the moment. Shopping is now much more convenient,” said Dato’ Sri Jessy Lai.
The CP Mall app a multi-purpose fashion shopping platform, precisely made in response to the trends above. It combines shopping, live-streaming, and lifestyle info, allowing users to shop and play while watching content and getting life updates. Sellers are also able to promote their products through live-streaming. Besides B2C sales, CPMall also allows B2B, M2C and C2M models, making it the first of its kind in Asia. “We believe in the power of live-streaming. CPMall is also an interactive platform for artists and influencers. Besides shopping programmes, CPMall also offers content about lifestyle, travel, beauty, and entertainment,” Dato’ Sri Jessy Lai said at the CPMall launch.
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