KUALA LUMPUR, June 23 — Aeon Co (M) Bhd is set to launch its new online platform called MyAeonToGo on August 2, 2021.
Managing director and chief executive officer Shafie Shamsuddin said the company is working with United States-based online wholesale retailer Boxed to utilise its state-of-the-art technology to ensure Aeon’s online services are above market expectations.
“MyAeonToGo will replace our current online platform, fresh.myaeon.com.my, as the group embarks on a new online retail ecosystem that started late last year on a trial basis,” he said during a virtual press conference after the company’s annual general meeting today.
Shafie said during the trial period of the online services, its e-commerce sales saw a contribution of up to seven per cent of total sales last year.
“Our target for this year is to increase our e-commerce sales by another two per cent.
“Within five years, we expect e-commerce sales to hit up to 15 per cent of our total sales,” he said.
According to Shafie, some 40 per cent of Aeon’s capital expenditure of RM251 million for 2021 had been allocated for digital transformation, while the balance was set aside for renovation, maintenance, and remodelling of the malls and stores.
“We are looking at expanding 13 new specialty stores that we are developing this year. We will also focus on 11 malls to renovate and make rectifications in terms of linking to our online business,” he added.
Meanwhile, he said 80 per cent of Aeon’s profit in 2020 was derived from its property management services, while the retail business contributed 20 per cent to income.
“We have a strong balance in our total revenue last year. Some 85 per cent of our revenue, or RM3.45 billion, came from retail and 15 per cent, or RM606.6 million, was derived from our property segment...our profitability is just the reverse,” he added. — Bernama