KUALA LUMPUR (April 5): Standard Chartered and e-retailer Zalora have launched a two-year partnership which 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.

In a joint statement today, Zalora and the bank said the commercial partnership will initially cover six countries — Malaysia, Brunei, Hong Kong, Indonesia, Singapore and Taiwan.

"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," Standard Chartered Bank Malaysia's country head of retail banking Aaron Loo said.

"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," he added.

Meanwhile, Zalora chief marketing officer Tito Costa said the partnership with Standard Chartered creates an opportunity 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," he said.

Costa added that in a region where buying fashion online is in its early stages, having a partner like Standard Chartered helps to convert traditional consumers into e-consumers.

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, with the card holders being the first to know about exclusive Zalora sales, giving them the opportunity to grab the best deals.

According to GlobalData's 2017 global consumer payments survey, apparel make up between 8% and 12% of total transactions in the region and it is expected to grow.

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.

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.