1 Utama tackles post-festive lull period with RM1m stimulus package

1 Utama Shopping Centre has unveiled a RM1 million stimulus package to boost spending in the mall, following the lull period after Chinese New Year and Christmas. The retail stimulus package comprises multiple sales-driven campaigns, with the first phase involving a series of weekly promotions in the form of tenant vouchers and cashback. This will be done via its ONECARD loyalty programme.

The mall added that the new stimulus package is expected to increase sales by 45% for ONECARD retail transactions. To date, the shopping mall has about 500,000 ONECARD members. The stimulus package will run until 26 April, offering cashback of up to RM50. According to the mall, the lull period is a cyclical trend for malls and retailers post-festive season. As such, it is still too early to consider requests for rental rebates or shorten mall operating hours. "However, we will continue to analyse and monitor the situation closely and curate a win-win approach for both the landlord and tenant," director Teo Chiang Kok said in a statement.

Meanwhile, Teo also clarified that the impact of COVID-19 on the mall "is not discernable" as it does not rely on foreign tourists to make up its foot traffic. Instead, its shoppers comprise regular locals with a large number of office workers who patronise the mall daily. 

According to Teo, 1 Utama has put in place proactive action plans since the start of the COVID-19 outbreak. The measures include stepping up precautionary measures to protect and safeguard the health of our employees, shoppers and tenants; maintaining high standards of cleanliness and hygiene through increased frequency of thorough cleaning for the entire mall; as well as providing a clean air-conditioning environment.

Last month, the Malaysian government announced a RM20 billion 2020 Economic Stimulus Package to mitigate the impact of COVID-19. Out of the RM20 billion, RM500 million has been set aside to offer Malaysians with digital vouchers of up to RM100 per person for domestic flights, rails and hotel accommodations. Teo applauded the government's move, adding that 1 Utama is optimistic that the retail sector will remain resilient as the government and businesses work together to support one another to ensure that the Malaysian economy remains on strong foundation.