Abstract: This paper aims to develop a conceptual Raikan business model, an innovative B2B2C digital platform, which is designed to address two major issues in the Malaysian Wedding Industry: (1) the primary problems faced by couples; and (2) the primary problems encountered by all wedding service providers (venues, catering services, photography, make-up artists etc.). Currently, couples are experiencing severe pain when searching for wedding related services due to opaque pricing, stressful negotiation processes and increasing living costs. Similarly, wedding service providers experience problems with unbooked inventory, unstable revenue streams during off peak season periods, costly marketing campaigns, and overwhelming inquiry management through multiple social media platforms. The methodology used in this study was the Design Thinking (DT) method, which included conducting a literature review and analyzing the business models of similar existing players in the marketplace using the BMC framework. Surveys will be conducted to identify and define the job to be done, pain points, and gain creating elements. Using the EM, VPC, and a high-fidelity digital platform prototype, an initial prototype of a business model will be developed. Additionally, a Strategy Canvas will be developed to allow comparison of the proposed validated model with other existing solutions. This paper presents a validated conceptual business model that has been specifically designed to provide pain relief and gain creation to modern weddings through several significant features including AI driven dynamic bidding, bundled packages, and digitally integrated Salam Kaut / Ang Pao cash gifting. Future works include developing a complete business plan based on this validated business model. Keywords: Digital Platform, Business Model, Design Thinking, Wedding Marketplace, Buy Now & Pay Later (BNPL) platforms. Title: A Conceptual Raikan Business Model: Integrated Reverse-Bidding and Cashless Salam Kaut in Enhancing Wedding Events without Compromising Financial Future Author: Muhammad Bashyar Bin Kamarul Anuar, Abdul Hakim Bin Abd. Razak, Muhamad Aqil Ikhwan Bin Ab Rahman, Muhamad Adam Muhaimin Bin Shahbani, Abdul Rahman Bin Ahmad Dahlan International Journal of Computer Science and Information Technology Research ISSN 2348-1196 (print), ISSN 2348-120X (online) Vol. 14, Issue 2, April 2026 - June 2026 Page No: 231-252 Research Publish Journals Website: www.researchpublish.com Published Date: 13-June-2026 DOI: https://doi.org/10.5281/zenodo.20677113 Paper Download Link (Source) https://www.researchpublish.com/papers/a-conceptual-raikan-business-model-integrated-reverse-bidding-and-cashless-salam-kaut-in-enhancing-wedding-events-without-compromising-financial-future
Anuar et al. (2026) studied this question.