Mall operator CapitaLand and ecommerce platform Shopee are joining hands to help accelerate the digitalization of Singapore retailers, and thereby emerge stronger from the Covid-19 crisis.
Under the Alliance on Facilitating Smart Commerce in Singapore, the two entities aim to help Singapore retailers digitalise, diversify their revenue streams and export their brands overseas to address ever-evolving consumer preferences through new operating models.
This alliance is co-led by CapitaLand Group’s Group CEO Lee Chee Koon and Ye Gang, Group COO and co-founder of SEA (parent company of Shopee).
This initiative is part of the efforts under the Emerging Stronger Taskforce (EST), formed under the Future Economy Council (FEC).
See also: Sea and IMDA to create 500 tech job opportunities in partnership
The alliance collaboration kicks off with the commencement of the CapitaLand x Shopee 11.11 campaign to drive sales, traffic and engagement for six CapitaLand malls through gamification.
“This campaign signifies both Shopee’s and CapitaLand’s commitment to empowering retailers, providing them with avenues to diversify and build robust, all-rounded and sustainable retail strategies that cater to changing consumer needs in an ever-evolving retail landscape,” say the companies in an Oct 26 statement.
The alliance has embarked on a second initiative, which is to re-create the IMM shopping outlet experience on Shopee Singapore and Shopee Malaysia.
“As part of CapitaLand’s commitment to help our retailers adapt to the new normal, we are focused on creating a holistic retail ecosystem integrating offline-and-online sales channels,” says Chris Chong, managing director of retail at CapitaLand Singapore.
“By combining expertise and sharing resources with Shopee, we are confident of creating a mutually beneficial retail ecosystem that drives value creation for retailers and delivers differentiated customer experiences for shoppers,” Chong adds.
“Shopee has always been passionate about nurturing and empowering our sellers and brand partners to build sustainable e-commerce strategies that prime them for success in today’s digital economy. In Singapore alone, we see tremendous potential and value in helping more retailers to kickstart and scale up their digitalisation efforts,” says Zhou Junjie, chief commercial offer at Shopee.
“We are pleased to work with CapitaLand to support their network of retailers in accessing more digital business opportunities and to help them unlock the full potential of e-commerce. We look forward to working closely with CapitaLand, tapping on its leading physical network to further equip retailers with the necessary resources and support to maximise the inherent value e-commerce has to offer,” he adds.
As at 2.15pm, shares in CapitaLand were trading 4 cents lower or 1.5% down at $2.67. Shares in Sea were trading at US$162.96 ($221.21).
