The ‘Enabling Digital Commerce Package Solution’ is a one-stop solution curated by the Singapore Productivity Centre (SGPC) and Shopmatic to scale-up retail SMEs’ digital capability through an integrated approach of business consultancy with technology adoption. The Solution enables retailers to embark on or catalyze their e-commerce business in a hassle-free manner with expertise from the SGPC and Shopmatic.
Based on SGPC’s local benchmarking study in 2016, only about 2-3% of Singapore retailers’ earnings were generated from M-commerce and E-commerce sales channels, indicating that there is a huge room for retailers to catch up and do more for e-commerce. The solution aims to enable retailers to tap on the growth opportunities in the internet retailing market which is estimated to be worth USD $7 Billion by 2025 as reported by Temasek and Google.
Importance of E-Commerce
E-commerce 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. Adopting e-commerce together with omni-channel strategies would help retailers 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.
Enabling Digital Commerce Solution
To mitigate these challenges, SGPC and Shopmatic 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 .
CEO of Shopmatic, Anurag Avula said, “The partnership with Singapore Productivity Centre is a significant milestone in enabling the digital commerce aspirations for Singapore retailers. The initiative with SGPC will provide retailers with a turnkey e-commerce solution that will assist in growing their business through a multi-channel approach.”
“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.” says Michael Tan, CEO, SGPC