KUALA LUMPUR, May 16: If you are considering starting your own business, franchising offers a proven model and extensive support system, making it an appealing choice for both new and experienced entrepreneurs. The upcoming Franchise Expo Malaysia(FEM) 2024, set to take place at the Kuala Lumpur Convention Center (KLCC) here from July 11 to July 13, can serve as a catalyst for your entrepreneurial journey.
Organised by the Malaysia Retail Chain Association (MRCA), the 2024 Expo will feature over 500 booths from more than ten countries, including Malaysia, Singapore, China, Taiwan, Indonesia, Cambodia and India. China and Taiwan will have its own pavilion, showcasing unique offerings and innovations.
Formerly known as the Malaysia International Retail and Franchise (MIRF) exhibition, the event has grown from 230 booths since the inaugural event to 500 booths this year.
This three-day event is expected to attract 15,000 visitors and generate a transaction value of RM100 million.
FEM Organising chairman Terry Tay said that the aim of the event is to provide a platform for local and international businesses to explore opportunities and enhance communications.
“Participants will gain insight into the latest industry trends and network with key stakeholders, while exhibitors can showcase their products and services to a targeted audience, increasing their visibility and potential customer base,” Tay said.
MRCA Retail Conference Organising chairperson Christine Tan said the event offers a valuable platform for networking and growth in retail.
“In this new age of Artificial Intelligence (AI) advancement, I’m sure we are all impressed by how it could impact our daily lives, just think of how ChatGPT took the world by storm just a few months ago,” Tan said.
Meanwhile, MRCA President Datuk Ken Phua highlighted the event’s focus on equipping entrepreneurs with the latest gadgets and tools essential for thriving in a digital-first market.
“I intend to reinforce MRCA’s four pillars of retail by fostering a culture of learning and sharing key success strategies during these challenging times,” Phua said
“We are also launching a platform for networking with local and international industry players, supported by our MRCA Academy. This initiative is designed to enhance our understanding of globalisation and prepare us for the Artificial Intelligence (AI) and Environmental, Social and Governance (ESG) era, helping to mitigate potential disruptions,” he said.
Phua, in urging MRCA members to cultivate a spirit of innovation and adaptability, said: “As consumer behaviours merge between online and offline realms, a seamless and consistent shopping experience across all platforms—in-store, online, or via mobile—is crucial. We must adopt omnichannel strategies to meet customer expectations wherever they are.
“Consumers are increasingly focusing on the environmental impact and ethical considerations of their purchasing decisions. It is vital that we, as retailers, commit to sustainable practices and transparency, which not only benefit the planet but also build consumer trust and loyalty.
“The integration of AI, augmented reality, and virtual reality is transforming traditional shopping experiences, enhancing customer engagement, and improving inventory management and operational efficiency. Embracing these technologies is essential for staying competitive in a rapidly evolving marketplace,” he added.
As FEM 2024 prepares for its seventh edition, it positions itself as a trailblazer in Southeast Asia under the compelling theme “Invest in the Future.” More than just an event, it is a strategic hub that uniquely combines forward-thinking franchise opportunities with cutting-edge technological advancements, distinguishing it from other expos.
The MRCA’s commitment to transforming Malaysia into a franchising powerhouse is evident in its meticulous organisation of the expo.
The event promises unprecedented access to industry insights, expert support, and peer networking opportunities, making it an invaluable platform for anyone looking to invest in the future of franchising.
FEM 2024 is a pivotal convergence point for knowledge, growth, and investment in franchising.
In conjunction with the expo, there will be a MRCA Retail Conference 2024 which will be held at the Mandarin Oriental Hotel here on July 12 from 8.30am to 5.15pm.
Among the highlights of the conference titled “Post Pandemic Retail Challenges & Transformation” are talks by Patricia Goh, who is the TikTok Country Lead, Key Accounts and Growth Partnerships for Singapore and Malaysia, and Song Hoi See, the founder and Chief Executive Officer of Plaza Premium Group.
Since its establishment in 1998, Plaza Premium Group has won more than 60 accolades including the “World’s Best Independent Airport Lounge” for six consecutive years from 2016 to 2022.
Song’s talk titled “How Plaza Premium Lounge Bounced Back From USD$100 Million Loss After Pandemic” will take place from 10.30am to 11.15am, while Goh will close the conference with a talk titled “Shoppertainment: Unlocking the Future of Consumer and Commerce” from 4.30pm to 5.15pm.
Member admission is priced at RM450 and non-member at RM500. For those who register early, member admission is RM405 and non-member RM450.