Malaysian mobile phone accessories distributor Cosmos Online Sdn Bhd officially introduced “hoco.” and also their Hoco O2O Retail Concept Store at a press conference held at their flagship outlet in Low Yat Plaza, today.
“hoco.” is an international premium lifestyle accessories brand from Hong Kong Haoco (hoco.) Technology Co., Ltd, which is dedicated to the development of high-quality digital accessories. Established in 2009, the young company focuses on the development and production of digital products with simple design philosophies, to create exquisite digital lifestyle products.
Gracing the launch event was brand principal and Hong Kong Haoco (hoco.) Technology’s General Manager, Gavin Ou and Cosmos Online Sdn Bhd’s Chairman Choong Sang Joo, Joining them at the official ribbon cutting ceremony were Lotyat Plaza’s Marcom & A&P Manager, Raymond Foo and a representative from Malaysia Mobile Communication Association (PPTM).
According to Gavin Ou, “hoco.” produces fashionable and distinguishable accessories based on unique ideas and refined craftsmanship. Hong Kong Haoco Hoco’s parent company, Shenzhen Hoco Technology Development Co., Ltd. has won recognition from the international market and global customers, for its design and technological innovation, along with their special expressions of human-ness and functionality.
After many years of development, and continuous R&D, coupled with an excellent production system, “hoco.” has out together a diverse and complete range of products which are well regarded and are highly sought after.
“hoco.” is targeted at the mid to high-end market with a significant product range, and is user-friendly in design, fashionable and comes with excellent build quality. If you are looking for exquisite, “hoco.” makes it for you.
Its products include accessories for Apple, Samsung, HTC, MEIZU and other major brands. ”hoco.” has also established an excellent reputation in China, Hong Kong, Taiwan, Southeast Asia, North America, the Middle East, Europe and other regions across the globe, and has become a leading brand in the digital accessories market space.
“hoco.’s” brand influence has already penetrated the global market, and is well recognized by the global consumer. The brand has become synonymous with high-end digital lifestyles.
With the establishment of the new Hoco O2O Retail Concept Store, Cosmos Online and Hong Kong Haokuo hoco hope to lead their Malaysian retail peers to break through the industrial dilemma with O2O thinking.
Hoco has been a player in the mobile phone accessories retail industry for nearly 10 years, and has established a professional team, diverse and innovative product lines, and a leading O2O innovative retail model to solve problems in inventory, capital backlog and commodity sales.
Cosmos Online will lead the revolutionary transformation of the local traditional mobile phone retail industry by introducing the O2O business model, and a novel management system to help the mobile phone accessories industry become standardized and international.
According GfK (Growth for Knowledge), Germany’s largest market research agency, pointed out that Malaysian consumers spent a total of RM6.8 billion in 2017 to buy mobile phones. Stanley Kay, GfK’s Managing Director for Southeast Asia said that the company’s retail tracking system data showed that it was significantly higher than the RM5.4 billion spent by Malaysian consumers in 2015.
Despite the growth, the industry faced enormous challenge in the development of the mobile phone accessories sector due to global recession and rising competition from the increase of mobile phone accessories retailers, resulting in oversupply, resulting in a reshuffle in the mobile phone accessories market with many mobile phone accessories retailers folding.
The popularity of smartphones has increased the demand from mobile phone users for large-capacity memory cards and batteries, as well as smart phone devices such as headsets. battery, chargers, Bluetooth headsets, memory cards, card readers and other mobile phone accessories.
To break the bottleneck, modern businesses are looking at the innovative O2O (Online to Offline) business model. The use of O2O is no longer limited to online and offline shopping guides, but also affects the overall business model and sales chain.
The rise of countless new ventures has become a hot spot for the new economy. Future enterprises must have the management capabilities of handle both online and offline and also multiple channels.
O2O is not just a reform of sales methods, it’s an innovative business model. In the future, every enterprise must have the ability to manage its sales business online and offline. In order to solve the dilemma that the industry originally faced, businesses must rethink and reform their business model with Internet thinking.
Traditional business models will still encounter the same offline problems once they go online. Companies will have to break all the rules that have long been used by industry to overcome existing limitations. Therefore, in addition to the innovation of the sales model, it is necessary to take advantage of the opportunities brought by mobile network technology to innovate the business models.
Hoco. Malaysia’s establishment of a complete merchandise supply system and the introduction of the O2O business model will change the traditional diversified retail stores of the past, allowing operators to experience “savings” after “savings” while easily making money.
The mobile phone accessories retail industry is soon to face a major disruption. The online and offline integration to open the O2O omni-channel retail model is a new reality for all traditional mobile phone accessory retailers. The traditional retail industry is still the world of offline.
However, with the rapid growth of e-commerce, the proportion of online retail sales has gradually increased, which has changed the industrial environment for online and offline. O2O is not just a sales pipeline, but a new and innovative retail business model, that combines a branded franchise store, digital online store, social media and mobile marketing.
Online-to-Offline (O2O) Simplified
Online-to-Offline (O2O) commerce is a business strategy that draws potential customers from online channels to make purchases in physical stores. Online-to-offline commerce, or O2O, identifies customers in the online space, such as through emails and internet advertising, and then uses a variety of tools and approaches to entice the customers to leave the online space.
This type of strategy incorporates techniques used in online marketing with those used in brick-and-mortar marketing. O2O is related to but not the same as the concepts of “clicks-to-bricks” or “click and mortar”.