Tealive cashes in on student population with new store at Affin Bank

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Tealive has integrated its Tealive 3.0 concept store into one of Affin Bank's branches situated within Universiti Teknologi MARA (UiTM) Puncak Alam campus. The new store features a dedicated bakery corner, Tealive Eats, and self-order standees at the entrance where customers are able order and pay online before going in and collecting their orders.

Loob Holding's founder and CEO Bryan Loo described Affin to be a progressive banking group and that its tagline "Always About You" is in line with Tealive's promise of "Always More Than Tea". Separately, he told A+M that planning for this integrated Tealive outlet has been going on for a year, which was longer than usual due to COVID-19.

"Our investment in this integrated outlet is relatively low as the store co-exists with the bank branch, hence there are savings in the mechanical and electrical capital expenditure. Affin has been a great partner so far and we both draw tremendous synergies from this collaboration," Loo said. He did not reveal specific figures for the investment.

UiTM Puncak Alam was chosen as it is the largest of all UiTM universities, with about 20,000 students and 2,000 employees. According to Loo, the size is perfect for Tealive to gain closer engagement with students to continue building brand equity in the market.

When asked about the marketing strategies it will implement to promote the new branch, Loo said it is dishing out 20% discounts to Affin cardholders and 10% to students for the long term. "Students are already the biggest influencers and brand advocates we need to boost our brand awareness," he said.

While he did not provide a specific ROI for the new branch, Loo said it will be "relatively lesser compared to [its] usual investment" as Tealive does not pay rental for the store. Instead, rental savings will come in the form of discounts to Affin customers and employees.

Affin's group CEO Wan Razly Abdullah Wan Ali said the opening of its branch at the university showcased its bold steps in embarking on the new trend of banking, making it more approachable to the younger consumers.

“As the younger consumers are more digitally-engaged, they naturally become more aware of events taking place within their surroundings. Therefore, the introduction of this new concept of banking in the community could not be timelier as it is in line with our metamorphosis journey to become a progressive bank and to be the preferred bank for the youth segment,” he added.

Meanwhile, UiTM's professor Ahmad Sazali Hamzah said the establishment of Affin's branch with the new concept on campus will be an attraction to students and community members of UiTM Selangor.

Tealive has been aggressive in creating breakthrough moments for consumers, an experience which Loo has constantly been pushing for. Last month, it launched a bubble tea phone case collection together with Casesbywf infused with quirky boba-inspired designs. The collection was inspired by the feeling of satisfaction when one's thirst is quenched upon drinking Tealive's drinks. He explained to A+M previously that through the collaboration, Tealive is able to celebrate not just its collective love for bubble tea, but also its fans' individuality.