Just in 2019, companies approached digital transformation with an “if it ain’t broke, don’t fix it” mentality.
Retail businesses seem to still think that digital retail = digital, physical retail = physical. Which isn’t the case since successful business often operate both online and offline.
Then COVID-19 hit.
Instead of having a steady transition, now everybody is forced to adopt digital means as fast as possible.
It’s now. Or die.
(as a business)
To the panicking CEOs out there, specifically for retail businesses, the gahmen has rolled out exactly the thing you needed:
E-Commerce Booster Package To Help Retail Businesses
Alright, take a breather and relax. Here’s what the package helps with.
E-commerce for Domestic Market
If you ever thought that you should put your products up on platforms like Lazada, now is the time to do so.
With this programme, you can partner with one of the popular online platforms, like Amazon, Lazada, Qoo10, or Shopee, to expand your reach in the domestic market.
What’s more, the platforms will offer services like:
- Content development (e.g. product photoshoot, content copywriting, product packaging)
- Product listing (e.g. setting up of merchant store, uploading of content, store decoration)
- Channel management (e.g. assortment and pricing, promotion/campaign planning, forecasting and inventory management, data analytics)
- Fulfilment (e.g. warehousing of products, fulfilment by e-commerce platforms, integration with last-mile logistics providers)
- Advertising and promotion (e.g. cross-channel marketing campaigns, onsite/in-store marketing campaigns)
- Training workshops to enhance e-commerce capabilities
Which of course costs money, but that’s what the gahmen is helping you with.
If you’re eligible, you can receive a one-time support to defray 90% of eligible costs of up to S$9,000 for up to 6 months.
The criteria for eligibility:
- Business entity is registered/incorporated in Singapore
- Have a minimum of 30% local shareholding
- Company’s annual turnover not exceeding S$100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees
You can read more about this here.
Just make sure to apply by 30 Sep 2020.
If you have business or are aiming beyond the little red dot, they have something for you too.
Multichannel E-commerce Platform (MEP) Programme for Overseas Markets
Like the previous scheme, this also connects you to solution providers, from either CombineSell, SELLinALL, Synagie or Vinculum. These companies help you to list and sell products on multiple overseas e-marketplaces, because I bet no one in the US can pronounce Lazada or Qoo10 correctly.
The three components of MEP:
- End-to-end package by appointed MEP providers to gain rapid entry to new markets via multiple overseas e-marketplaces
- Digital marketing support to help SMEs increase brand value and drive traffic on e-commerce platforms
- Relevant training programmes to operate an e-commerce business (working with Singapore Institute of Retail Studies as a designated training partner)
If you’re eligible, you will receive a one-time support at 90% (from 70%) of eligible programme costs for a year.
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The criteria for eligibility:
- Business entity is registered/incorporated in Singapore
- Annual overseas sales not exceeding S$100,000 (offline or online) for each of the three preceding years
- At least 30% local shareholding
- Group annual turnover not exceeding S$100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees
Like the previous programme, make sure to apply by 30 Sep 2020.
Read more about the programme here.
But there’s more.
Digital marketing capabilities for retailers
It’s cool that you have a place to sell your products, but what use is a place to sell if nobody comes to your store?
Simple, training in digital marketing. The Digital Marketing Programme will provide funding support of up to 90% for digital marketing advisory services for three months.
Here’s what you can expect at the end of three months:
- Understand and apply digital marketing for your business
- Use basic digital marketing tools to develop and drive digital campaigns
- Plan and manage content of digital campaigns
- Perform basic data analytics to assess the performance of digital campaigns
- Learn how to optimise campaign effectiveness
Eligibility is similar:
- Business entity is registered/incorporated in Singapore
- Have a minimum of 30% local shareholding
- Company’s annual turnover not exceeding S$100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees
Read more here (it’s at the bottom).
By now, you should be panicking less about money.
But then you remember: this means more work to do.
Don’t worry. They thought about that too.
Additional Manpower Support
That’s right. If you’re participating in the programmes, you can also apply for additional manpower support for your e-commerce efforts. You will receive a one-time support of up to 90% of the qualifying manpower costs for three months.
As for application and details, you have to ask for more info from your respective e-commerce platform and solution providers.
Hang in there.
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