Omni-channel strategies for Singapore retailers

AS E-COMMERCE and mobile payments continue to revolutionise the retail sector, Singapore retailers must adapt to new systems in order to engage the modern-day consumer. Currently, most retailers have physical store fronts and many have their own websites, but only some offer online purchases, are active on social media or have a mobile app. With consumers increasingly exploring a number of platforms, many retailers are missing out.

As at May 2014, retail e-commerce hit more than S$3.6 billion in Singapore - with 50 per cent of the e-commerce traffic coming from mobile phones. The prediction for 2015 stands at S$4.4 billion, offering a profitable promise for the future. Singapore's Economic Development Board (EDB) has also recognised the growing potential of the sector and is looking to drive e-commerce among Singapore companies.

Last year, the EDB pledged to build up Singapore's marketing, payment and shipping capabilities in e-commerce, to help retailers provide smooth transactions to their customers. Omni-channel retailing seamlessly integrates all available platforms across devices, channels and websites - such as a retailer's stores, e-commerce website, mobile apps, social media presence and much more - to provide a flexible shopping experience.