International ecommerce company, Shopmatic, and Singapore Productivity Center have joined forces to roll out an ‘Enabling Digital Commerce Solution Package’ for retail SMEs. Curated by the SGPC, the solution aims to scale-up retail SMEs’ digital capability through an integrated approach of business consultancy with technology adoption. It will help retailers catalyze their ecommerce business in a hassle-free manner with expertise from the SGPC and Shopmatic.
According to SGPC’s local benchmarking study in 2016, only 2-3% of Singapore retailers’ earnings were generated from mcommerce and ecommerce sales channels, indicating that there is more room to grown when it comes to ecommerce.
The solution aims to enable retailers to tap on the growth opportunities in the internet retailing market which is estimated to be worth $7 Billion by 2025 as reported by Temasek and Google.
“The partnership with Singapore Productivity Centre is a significant milestone in enabling the digital commerce aspirations for Singapore retailers,” said Anurag Avula, CEO, Shopmatic.
“The initiative with SGPC will provide retailers with a turnkey ecommerce solution that will assist in growing their business through a multi-channel approach.”
Shopmatic claims that ecommerce is a critical avenue for retailers to remain competitive and relevant to the changing buying patterns of consumers, as well as expanding to the international market beyond the “brick-and-mortar” shops. By adopting ecommerce together with omni-channel strategies, retailers will be able to meet consumer needs in both online and offline channels.
While retailers acknowledge the need to build up their digital commerce capabilities, they often faced constrained by lack of expertise to start, manage and even to choose the right technology.
To mitigate these challenges, both parties have developed a package solution, which includes readiness assessment, mapping and redesign of the omni-channel customer journey, implementation of the Shopmatic e-commerce solution and transfer of digital know-how through application based training.
Retailers interested to adopt this package Solution can apply for government assistance under the Capability Development Grant administered by SPRING Singapore.
“As the National Competency Centre, we are committed to help retailers unlock their digital constraints so that they can tap on the growth of e-commerce, be more competitive, productive and future-ready.” said Michael Tan, CEO, SGPC