Standard Chartered and e-tailer ZALORA are launching a two-year partnership that offers Standard Chartered card holders a suite of benefits including exclusive discounts on their ZALORA purchases and priority access to sales before it is launched to the public.
With a minimum spend of RM120, Standard Chartered credit card and debit card holders in Malaysia enjoy a 15% discount all year round, and a 20% discount with a minimum spend of RM150 during promotional periods. Standard Chartered card holders will also be the first to know about exclusive ZALORA sales, giving them the opportunity to grab the best deals.
The commercial partnership will initially cover six countries – Malaysia, Brunei, Hong Kong, Indonesia, Singapore and Taiwan.
A popular fashion e-tailer in Asia, ZALORA offers an extensive collection of top international and local brands as well as their own in-house labels across apparel, shoes and accessories for men and women. They give consumers in the region access to the latest collection from over 2,000 fashion brands.
Aaron Loo, Country Head of Retail Banking, at Standard Chartered Bank Malaysia says: “This is a classic example of a partnership to delight and reward Standard Chartered card holders and to give them exciting benefits when shopping online.
We are constantly enhancing our products and services to make banking simple, convenient and secure in this increasingly digital world. That means we design our offerings around our client’s lifestyle needs, giving them greater convenience and choice in their daily spend.”
Tito Costa, Chief Marketing Officer of ZALORA added: “The partnership with Standard Chartered Bank creates an opportunity for us to reach out to new customers by offering them more reasons to shop on ZALORA. This gives shoppers a little push, sparking consumer spending by offering their favourite items at the best prices.
In a region where buying fashion online is in its early stages, having a partner like Standard Chartered helps us in converting traditional consumers into e-consumers.”
Consumer discretionary spend continues to grow worldwide and apparel is no exception. Industry intelligence company GlobalData stated that fast fashion and value clothing is gaining popularity in Asia and online channels are expected to lead over brick and mortar channels in the coming two years. According to GlobalData’s 2017 global consumer payments survey, apparel makes up between 8 and 12% of total transactions in the region and it is expected to grow.