BestPlace, Russian IT solution for retail industry, becomes available in Malaysia

Russian service BestPlace becomes available for Malaysian retailers since July 2020. The system is already working in Kuala Lumpur and Selangor. BestPlace team works on further expansion in Malaysia and ASEAN region.

BestPlace is AI-driven online service for finding the best locations for store or restaurant. BestPlace platform contains geo-analytical information about an area such as population and its income, number of households, property available for rent, competitors, and more than 20 other core indicators. One of the platform’s tools is Heatmap helping to uncover the areas with the highest potential. Another tool is Pedestrian Traffic showing the traffic intensity per day and its structure. The most valuable part of the service is a possibility to score target location and forecast sales revenue of potential store or restaurant. It takes a couple of seconds to calculate sales potential of the store, report the complete analysis of the local market on the map and specify key influenced factors.

“First time we visited Malaysia in 2019,” said CEO Alexander Kiryanov, “We had a very intensive agenda there supported by Russian Trade Representative in Malaysia, MDEC, Malaysia Retail Chain Association (MRCA), Cyberview, Cyberjaya, and Invest Selangor. After a number of business meetings with Malaysian retail and restaurant chains and professional associations we received positive feedbacks and confirmed several promising pre-agreements with leading companies. We decided to start working with local data and to launch BestPlace service in Malaysia.”

"The cooperation in the fields of high technologies and advanced solutions in AI, which are represented by Russian companies like BestPlace is in the focus of the Malaysian-Russian Commission on Economic, Scientific, Technical and Cultural Cooperation. Commission will support the company in terms of further business development in Malaysia," said Nikita Ponomarenko, Trade Representative of the Russian Federation in Malaysia.

“The establishment of BestPlace in Selangor will further strengthen the presence of Russian companies in Selangor. The AI technology in the platform will provide another great opportunities for the food & beverages companies in Selangor to expand their footprint. It is the role of Invest Selangor to provide the necessary support and assistance to ensure multinational companies, including from Russia to establish their businesses in Selangor and use the state as the gateway to the region”, said Dato’ Hasan Azhari Hj. Idris, Chief Executive Officer of Invest Selangor Berhad.

Kamelinder Singh, Malaysia Digital Economy Corporation (MDEC) commented, “MDEC has always been the main focal point for Russian Digital / IT companies. MDEC was catalyst in getting BestPlace to consider Malaysia as an expansion hub to Asia.”

According to a spokesperson in Malaysia Retail Chain Association "Malaysian retailers need new actual technologies, like AI-driven services, big data analytics and others in order to become more flexible in new circumstances. Solutions like BestPlace can bring advantages and help to grow the businesses after the quarantine."