RETAIL & DISTRIBUTION LANDSCAPE OVERVIEW

A good subtitle

In Singapore, there are a total of 22,223 retail establishments in Singapore with a total retail sale of $44 Billion. With the rise of ecommerce into the retail space, there is a total of $1.22 Billion of Online Spending in 2015 as compared to a total of $1.08 Billion in 2014.

Quoted from Savills World Research September 2016 report:

“Following a few quarters of marginal rise, the Singapore economy reported a growth of 2.1% year on year in Q2/2016, unchanged from the preceding quarter.”

As per the information in the graph above, there has been indicator of improvements in March to May. However in April there was a fall by 5.2% compared to last year. With the Great Singapore Sales organized from 3 June 2016 to 14 Aug 2016 suppose to push up the growth of sales for Q3, however the market did not feel the impact from the Great Singapore Sales. Feedback from consumers did not feel the hype on Great Singapore Sales due to promotions given by the online stores.

With the growth of E-commerce and the raise of Alibaba in Singapore, a percentage of the buying pattern of consumers has shifted from the brick and mortar outlet to the ecommerce space.

It is important for retailer to understand the trend of consumer buying behavior. There is still a requirement of understanding the need of Omni Channel retailing. Omni Channel retailing is cross-channel business model that is use to increase customer experience. This includes research before a purchase. Such channels include retail stores, online stores, mobile app stores and pop-up stores. Omni Channel pertains to the seamless integration of online and in-store sales channels. This will allow shoppers to visit stores on how and when they want.

WHY SHOULD AGENCIES EMBARK ON THE OMNI-CHANNEL CAPABILITY JOURNEY?

The wholesale and retail trade takes up 15.6% of the entire Gross Domestic Product (GDP). It has been dropping almost 5% for the last 5 years. With the growth of E-commerce and the raise of Alibaba in Singapore, a percentage of the buying pattern of consumers has shifted from the brick and mortar outlet to the ecommerce space.

With the change in consumer buying behavior, i t is important for retailer to understand the trend of consumer buying. Omni Channel retailing is cross-channel business model that is use to increase customer experience. This includes research before a purchase. Such channels include retail stores, online stores, mobile app stores and pop-up stores. Omni Channel pertains to the seamless integration of online and in-store sales channels. This will allow shoppers to visit stores on how and when they want.

In Asiatact, we understand the various challenges faced by the whole and retail trade and therefore the initiative of Omni Channel Capability Journey. The Objective is to assist wholesale and retail trade operators to eventually able to have a more holistic way for customer engagement. The team will assist business entity in exploring the five core aspects namely Virtual Front Makeover, Marketing Strategy, Holistic Automated Solutions, Supply Chain and Visual Merchandising and last but not least Human Capability Building where the important of allowing the management to be able to have a clearer picture being the asset of the organization.