Singapore- Following the success of last year's CapitaLand x Shopee 11.11 campaign, CapitaLand, one of Asia's largest diversified real estate groups, and Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, today joined hands once again to unveil the IMM virtual mall on Shopee - the ecommerce platform's first virtual mall. Aimed at helping Singapore retailers embrace digitalisation as part of holistic and sustainable retail strategies, the initiative is an outcome of the Emerging Stronger Taskforce's (EST1) Alliance for Action (AfA) on Facilitating Smart Commerce. Today's launch held at IMM was witnessed by representatives from CapitaLand and Shopee in the presence of EST Co-Chairs Mr Desmond Lee, Minister for National Development & Minister-in-Charge of Social Services Integration, and Mr Tan Chong Meng, Group CEO of PSA International.
The launch of IMM virtual mall was officiated by Emerging Stronger Taskforce Co-Chairs Mr Desmond Lee, Minister for National Development & Minister-in-Charge of Social Services Integration (second from left) and Mr Tan Chong Meng, Group CEO of PSA International (second from right), as well as Mr Chris Chong, Managing Director, Retail, CapitaLand Singapore (first from right) and Mr Zhou Junjie, Chief Commercial Officer, Shopee (first from left) at IMM today.
The AfA on Facilitating Smart Commerce is focused on pioneering new operating models to help Singapore retailers digitalise and export local brands overseas, develop sustainable business strategies, and diversify their revenue streams. Besides the launch of the IMM virtual mall on Shopee, the AfA is also working closely with (i) the Infocomm Media Development Authority (IMDA) on the Nationwide Parcel Lockers Project to explore the innovative use of lockers to enhance shoppers' experience in malls while reaping operational gains for retailers; (ii) Enterprise Singapore (ESG) to pilot an initiative to ease the overseas market entry of local brands, leveraging CapitaLand's network of malls in the region and Shopee's regional online presence; and (iii) the Restaurant Association of Singapore (RAS) to pilot new ideas in addressing industry challenges, such as food pick-up and delivery optimisation, while leveraging the network and expertise of CapitaLand.
Visiting one of the participating retailers of IMM virtual mall, SK Jewellery. (Front row, from left to right) Mr Tan Chong Meng, Group CEO of PSA International and Co-chair of Emerging Stronger Task Force; Mr Lee Chee Koon, Group CEO of CapitaLand; Mr Desmond Lee, Minister for National Development & Minister-in-Charge of Social Services Integration; Co-chair of Emerging Stronger Task Force; Mr Ye Gang, Group COO of Sea Ltd. (Back row, from left to right) Mr David Lau, Head of ecommerce, SK Jewellery; Dr Loo Choon Yong, Executive Chairman of Raffles Medical Group; Mr Lim Ming Yan, Chairman of Singapore Business Federation; Mr Png Cheong Boon, CEO of Enterprise Singapore.
Visiting one of the participating retailers of IMM virtual mall, SK Jewellery. (Front row, from left to right) Mr Tan Chong Meng, Group CEO of PSA International and Co-chair of Emerging Stronger Task Force; Mr Lee Chee Koon, Group CEO of CapitaLand; Mr Desmond Lee, Minister for National Development & Minister-in-Charge of Social Services Integration; Co-chair of Emerging Stronger Task Force; Mr Ye Gang, Group COO of Sea Ltd. (Back row, from left to right) Mr David Lau, Head of ecommerce, SK Jewellery; Dr Loo Choon Yong, Executive Chairman of Raffles Medical Group; Mr Lim Ming Yan, Chairman of Singapore Business Federation; Mr Png Cheong Boon, CEO of Enterprise Singapore.
Mr Lee Chee Koon, Group CEO, CapitaLand Group and Co-Lead for the AfA on Facilitating Smart Commerce, said: 'Singapore has a deep pool of retail entrepreneurs and talents who have the potential to achieve regional and global success with the right platforms and support. This is aided by the country's deep-rooted shopping mall culture and positioning as a digital hub, which has given Singapore retailers an edge in innovating omnichannel retail business models. COVID-19 has adversely impacted Singapore retailers, but overcoming the challenges has also strengthened their resilience and camaraderie. Through collaboration, the different players in Singapore's retail ecosystem will be able to deliver innovative products and services that they would not be able to achieve in isolation. CapitaLand is thus delighted to partner fellow industry players to drive value creation for Singapore retailers by integrating the physical and digital shopping worlds, and exporting their brands overseas. The launch of IMM virtual mall on Shopee is a step in the right direction and I am confident of more positive outcomes as more of the AfA's proposals come to fruition.'
Mr Ye Gang, Group Chief Operating Officer, Sea Limited, and Co-Lead for the AfA on Facilitating Smart Commerce said: 'As a global consumer Internet company born and bred in Singapore, we are committed to empowering our local communities to take full advantage of the opportunities presented by the growth of the digital economy and borderless e-commerce. We are honoured to be part of the AfA and to support the digital transformation and overseas expansion of Singapore's retailers. We look forward to working with CapitaLand and partners in the AfA to drive more outcomes that will help Singapore retailers reap the benefits of a multi-channel strategy.'
Emerging Stronger Taskforce Co-Chair Mr Desmond Lee, Minister for National Development & Minister-in-Charge of Social Services Integration speaking at the launch of IMM virtual mall.
IMM virtual mall on Shopee
Operated by CapitaLand, IMM is Singapore's largest outlet mall with more than 220 outlet and retail stores offering attractive discounts all year round. The IMM virtual mall on Shopee recreates IMM's iconic outlet shopping experience online with a standalone landing page, enabling shoppers to buy authentic merchandise at attractive prices. It connects IMM retailers to consumers on Singapore's largest ecommerce platform, offering them more online marketing opportunities to drive revenue through enhanced branding under one roof. Participating retailers also enjoy marketing subsidies from CapitaLand and Shopee, including livestreaming trial packages on the popular Shopee LIVE. This initiative amplifies CapitaLand's and Shopee's commitment to empowering retailers to build a robust, all-rounded and sustainable retail strategy to seize new opportunities and enhance resilience amidst a revolving retail landscape.
Mr Chris Chong, Managing Director, Retail, CapitaLand Singapore
In its initial phase, the IMM virtual mall on Shopee features a line-up of 33 brands comprising 19 retail brands offering over 8,000 SKUs (stock keeping units) and 14 F&B establishments offering F&B vouchers. These include retail brands adidas, Kipling, Pierre Cardin, Premier Football, SK Jewellery and Winter Time, as well as F&B establishments Ajisen Ramen, Jollibean, Old Chang Kee, SF Fruits, So Pho and Streats. Please refer to Annex for the full list of participating retailers.
Mr Chris Chong, Managing Director, Retail, CapitaLand Singapore, said: 'IMM is one of the top performing malls in CapitaLand's portfolio, popular with locals and tourists alike. Reasons for its enduring appeal include distinct positioning, diverse selection of brands and attractive promotions. Building on IMM's success, we are delighted to expand the mall's appeal with IMM virtual mall on Shopee. As Singapore's largest mall operator, CapitaLand is committed to a holistic retail ecosystem integrating offline-and-online sales channels to enhance our retailers' competitiveness and better cater to consumers' changing lifestyle needs. Our collaboration with Shopee will enhance CapitaLand's online presence beyond eCapitaMall, create new income streams for retailers and widen their consumer reach. It will also yield meaningful insights on how we can continue to innovate omnichannel retail business models.'
Mr Zhou Junjie, Chief Commercial Officer, Shopee
Mr Zhou Junjie, Chief Commercial Officer, Shopee, said: 'Shopee is delighted to welcome the well-loved IMM mall to our platform. The launch of the IMM virtual mall on Shopee demonstrates the importance of digital transformation and the value of strategic partnerships in today's retail landscape. At Shopee, we are committed to nurturing and empowering our sellers and brand partners to establish and grow their online ecommerce presence.'
'This collaboration represents another step for Shopee, as we continue to build upon the fruitful partnership we've had with CapitaLand thus far. We look forward to working closely with CapitaLand once again, as we continue to drive greater value for IMM retailers and the retail ecosystem in Singapore as a whole.'
The launch of the IMM virtual mall on Shopee follows the success of last year's CapitaLand x Shopee 11.11 campaign. Held over three weeks from 21 October to 11 November 2020, the online-and-offline marketing campaign was instrumental in driving shopper engagement across 45 participating retailers at six CapitaLand malls. The collaboration also demonstrated the viability of driving sales to retail stores in shopping malls through the online promotion of in-store voucher redemptions.
Note:
1 The Emerging Stronger Taskforce (EST) was formed under the Future Economy Council to review how Singapore can stay economically resilient and build new sources of dynamism to emerge stronger from COVID-19.
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