WCT Malls chief executive officer Selena Chua (second from left) and her team received recognition for the Voucher Bonanza Sales initiative at the Marketing Excellence Awards 2023 last year.
WCT Malls has established itself as a key player in the retail landscape by consistently addressing the evolving needs of its tenants and shoppers.
The organisation manages and operates shopping malls in Malaysia, namely Paradigm Mall Petaling Jaya, Paradigm Mall Johor Baru, gateway@klia2 and SkyPark Terminal.
The success of its Voucher Bonanza Sales (VBS) marketing initiative highlights WCT Malls’ forward-thinking and innovative approach to boosting sales, enhancing shopper engagement and fostering long-term partnerships.
A strategic response to crisis
VBS was first introduced by WCT Malls during the Covid-19 pandemic as a strategic response to the sharp decline in footfall and economic uncertainty affecting the retail sector.
To address these challenges, the organisation offered a 20% discount on shopping vouchers, providing immediate relief and incentives for both shoppers and tenants.
The initiative allowed shoppers to purchase discounted vouchers, redeemable at participating retailers.
This not only encouraged increased spending but also promoted repeat visits, helping to stabilise the retail environment at its malls during a critical period.
For tenants facing revenue challenges, the initiative became a vital support system, providing crucial sales opportunities while reinforcing shopper loyalty and fostering a supportive ecosystem that allowed shoppers and tenants to thrive during an unprecedented crisis.
As the retail landscape recovered, beyond the pandemic, WCT Malls revamped VBS from a short-term response into a long-term strategic asset.
Frequent VBS campaigns introduced year-round have allowed shoppers to enjoy 20% savings, combined with in-store promotions, offering a distinct value proposition.
VBS has since attracted over 400 participating tenants, including renowned brands such as Sephora, Watsons, Uniqlo, Harvey Norman and more.
The initiative has also driven the adoption of the WCT Buddy App, with vouchers exclusively available through the platform.
This digital shift has modernised the shopping experience, boosting app downloads and active users while offering personalised promotions.
Expanding partnerships
A key element of VBS is its success in forging strategic partnerships with payment networks and digital payment platforms.
Collaborations with partners such as Visa, Mastercard, Union Pay, and e-wallet providers like GrabPay have expanded the reach of VBS and amplified its impact.
These partnerships create a win-win scenario, with WCT Malls and its partners co-funding the 20% discount vouchers.
For instance, the Visa VBS initiative offers Visa cardholders exclusive access to discounted vouchers through the WCT Buddy App, increasing transaction volumes while benefitting both the malls and payment platforms.
A standout feature of VBS is its stackable savings which allows shoppers unparalleled flexibility in redeeming their vouchers.
This seamless experience has boosted tenant sales and reinforced WCT Malls’ position as a value-driven shopping destination.
Industry recognition
WCT Malls has since earned widespread recognition for VBS.
In 2023, the organisation received the Marketing Initiative of the Year award at the Retail Asia Awards and the Silver Award for Best Shopper/Retail Experience at the Marketing Excellence Awards. This year, it claimed the Best Retailer Collaboration Award at the Global Brand Awards.
These accolades underscore WCT Malls’ ability to craft innovative marketing strategies that deliver tangible results for stakeholders.
Boosting sales and shopper engagement
Since its launch, VBS has generated over RM42mil in transactions, showcasing WCT Malls’ commitment to innovation and driving sales for tenants.
Enticed by immediate savings, shoppers are making more purchases and visiting more frequently, leading to significant sales growth.
Tenants have also reported notable improvements in financial performance, attributing much of its success to VBS.
Beyond boosting sales, the initiative has enhanced shopper engagement and brand loyalty as customers increasingly cite discount vouchers as the key reason for choosing WCT Malls.
A vision of innovation and growth
WCT Malls chief executive officer Selena Chua emphasises that innovation is key to success in today’s dynamic retail landscape.
“Mall operators must continuously innovate to meet the evolving needs of both tenants and shoppers,” she says.
“VBS is a prime example of how understanding market dynamics and crafting the right strategies can create value for everyone involved. We are moving forward, constantly exploring new ways to drive innovation and enhance the retail experience for all our stakeholders.”
While the initiative remains a cornerstone of its marketing strategy, WCT Malls is dedicated to continuously pushing the boundaries of retail marketing through cutting-edge initiatives that address the ever-changing needs of its stakeholders and the retail landscape.
For details, visit www.wctbuddy.com.my
