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MarketScreener Homepage  >  Equities  >  Nyse  >  Sea Limited    SE

SEA LIMITED

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Sea : CapitaLand and Shopee collaborate to accelerate digitalization of Singapore retailers

10/30/2020 | 05:40am EST

CapitaLand and Shopee collaborate to accelerate digitalization

of Singapore retailers through diversified retail strategies

  • CapitaLand x Shopee 11.11 campaign to drive sales, traffic and engagement for six CapitaLand malls through gamification
  • CapitaLand's IMM outlet mall to debut as Shopee's first virtual shopping mall from
    Singapore
  • These are efforts under the Emerging Stronger Taskforce's Alliance for Action on
    Facilitating Smart Commerce in Singapore

Singapore, 26 October 2020 - COVID-19 has significantly impacted the retail sector, and accelerated structural shifts, such as the rise in e-commerce and demand for more personalization and engagement. While it is now even more pressing for retailers to transform, there are also opportunities that can be seized in an increasingly digitalized world.

Recognizing the need to act quickly and decisively in order for the economy to emerge stronger from the COVID-19 crisis, the Emerging Stronger Taskforce (EST)1, formed under the Future Economy Council (FEC), convened the Alliances for Action ("Alliances")2, which are industry-led,government-supported coalitions that will act quickly by prototyping ideas on strategic areas for Singapore. The Alliance on Facilitating Smart Commerce in Singapore is one such Alliance.

The Alliance is co-led by Mr Lee Chee Koon, Group CEO of CapitaLand Group, one of Asia's largest diversified real estate groups; and Mr Ye Gang, Group COO and Co-Founder of Sea, the parent company of Shopee, the leading e-commerce platform in Southeast Asia and Taiwan. It is pioneering new operating models to help Singapore retailers digitalize, diversify their revenue streams and export their brands overseas, to address ever- evolving consumer preferences in the current COVID-19 landscape.

  1. The Emerging Stronger Taskforce (EST) was formed under the Future Economy Council (FEC) to review how Singapore can stay economically resilient and build new sources of dynamism to emerge stronger from COVID- 19. The EST is co-chaired by Minister for National Development, Mr Desmond Lee, and Group CEO of PSA International, Mr Tan Chong Meng.
  2. To date, seven Alliances have been formed in the areas of Digitalizing Built Environment, Robotics, Supply Chain Digitalization, Sustainability, Edutech, Facilitating Smart Commerce in Singapore, and Enabling Safe and Innovative Visitor Experiences in Singapore.

1

To demonstrate the benefits of an offline-online partnership model and boost retailers' confidence to adapt and transform during this time, the Alliance collaboration kicks off with the commencement of the CapitaLand x Shopee 11.11 campaign - an innovative integration of online and offline shopper engagement to drive sales, traffic and engagement for six CapitaLand malls through gamification. Participating brands include retailers such as Skin Inc, Zaffron Kitchen, Linen Gallery, and many more. 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. The second initiative is to re-create the iconic IMM outlet shopping experience, popular among both Singaporeans and tourists alike, on Shopee Singaporeand Shopee Malaysia. IMM will be the e-commerce platform's first virtual shopping mall from Singapore, providing retailers with more online marketing opportunities that will benefit in-store sales at IMM through enhanced branding under one roof.

The partnership was officiated today by representatives from both CapitaLand and Shopee at an offline activation event held at the Skin Inc store in Junction 8 mall. Skin Inc is a homegrown Singapore retailer with ecommerce storefronts on Shopee Singapore and eCapitaMall.

Mr Chris Chong, Managing Director, Retail, CapitaLand Singapore, said: "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. In addition to operating our twin digital platforms eCapitaMall and Capita3Eats, we are pleased to join forces with Shopee to offer our retailers more opportunities to engage with their customers digitally, while driving footfall to their physical stores through online marketing. 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."

Mr Zhou Junjie, Chief Commercial Officer, Shopee, said: "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 digitalization efforts. 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 maximize the inherent value e-commerce has to offer."

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CapitaLand x Shopee 11.11 campaign

From 21 October to 11 November 2020, S$4 million worth of shopping, dining and accommodation perks are up for grabs in the Slice game on the Shopee Singapore app. Shoppers can earn points to redeem Shopee Coins and discount vouchers from 45 participating retailers for redemption in-store at six CapitaLand malls - Bugis Junction, Bugis+, Junction 8, Plaza Singapura, Tampines Mall and Westgate. Players also stand to win complimentary stays and discount vouchers as well as free Ascott Star Rewards (ASR) membership upgrade sponsored by The Ascott Limited, the lodging business unit of CapitaLand. Each day, the daily top scorer will be further rewarded with a S$50 eCapitaVoucher.

IMM virtual mall on Shopee Singapore and Shopee Malaysia

The IMM virtual mall on Shopee aims to re-create the iconic IMM outlet shopping experience, bringing together some of the mall's most popular stores and best-value discount buys in one landing page. Participating retailers will enjoy marketing subsidies and incentives from CapitaLand and Shopee, and those who are eligible can receive additional support from the Ecommerce Booster Package provided by Enterprise Singapore. IMM retailers who are authorised brand distributors in Malaysia will be given support to set up their storefront on Shopee Malaysia with minimal fuss. More information of the IMM virtual mall will be made available in due course.

VIRVICI x Shopee pop-up store in Funan mall

Leveraging CapitaLand's network of malls to generate buzz and build brand awareness, Shopee recently partnered with Korean beauty brands distributor, VIRVICI, to launch a pop-up store in Funan on 6 October 2020. Funan was chosen as the location because it is a vibrant location with many trendy stores that attract a younger crowd, which is in line with Shopee's and VIRVICI's target audience. Driving traffic and conversion to its online marketplace, the VIRVICI x Shopee store allows consumers to purchase products on the Shopee platform and collect the items in-store immediately, or choose to have it delivered to their homes. Customers can also scan the QR codes next to each product and find more information on Shopee.

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Sea Ltd. published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 10:39:06 UTC


© Publicnow 2020
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