It seems that as the Coronavirus rages on, more and more established companies are lending their support to the cause. Facebook’s support grant was one…
And Fairprice’s Marketplace platform is certainly another.
FairPrice Allowing Local Food Manufacturers To List On Their Marketplace
According to Channel News Asia, Enterprise Singapore (ESG) and FairPrice Online have teamed up to launch an all-new initiative called YummySG!, which allows local manufacturers to apply to list their products on the Fairprice Marketplace platform.
The initiative was launched yesterday (25 September 2020).
Thus far, the venture has attracted the likes of Chocoworks, Nature’s Field Snacks Manufacturing, Sheng Aik Trading, Thong Siek Food Industry and more.
A vast collection of items has also been made available for online consumption.
Higher Visibility To Consumers
According to Enterprise Singapore and FairPrice, YummySG! allows local food manufacturers to improve the visibility of their items in the market.
They will also be able to test general reception to their newest products.
“YummySG! brings together local products under the Singapore brand, providing higher visibility to consumers and differentiating them from other international products,” said Enterprise Singapore and FairPrice.
“ESG is working closely with FairPrice Marketplace to curate the products for YummySG!, as well as facilitate the partnerships between participating companies and FairPrice.”
The initiative is part of the agency’s “continuous efforts” to support the local ‘online market’ scene.
It comes after the launch of the E-Commerce Booster Package, which caters to small- and medium-sized retailers.
Added Perks
Apparently, FairPrice Marketplace will provide extra perks to its ‘tenants’ as well.
According to the organisations, the platform will step up its publicity efforts and generate traffic for local products in the process.
Partaking companies will also be able to view online sales and traffic data.
Additionally, manufacturers can work with Enterprise Singapore to enhance their product developmental process, packaging design and the appropriate online retail strategies.
All in all, really good reasons to jump on the bandwagon.
In essence, the partnership will permit food manufacturers to “leverage a collective branding and an established platform with good reach”, as online consumption increases amidst the Covid-19 pandemic.
“At the same time, through YummySG!,” said Ms Dilys Boey, assistant CEO at Enterprise Singapore. “They will also be able to test the receptiveness of consumers to new products that they create. This, in turn, will enable them to adjust their strategies for scaling up.”
And they will certainly be able to improve on a digital front as well.
“This will enable our SMEs to take charge of their digital transformation journey with a convenient and efficient e-commerce store to grow their business,” said Ms Deepti Lad, head of FairPrice Marketplace and B2B.
Rising Trend Of Online Consumption
As the pandemic looks set to become a mainstay for the near future, businesses have begun going online to meet the change in demand.
However, it should be noted that as consumers continue to purchase from mainstream suppliers, these recently-converted businesses may find it hard to break into the market.
As such, Fairprice’s Marketplace platform is a really welcome addition to the online industry, and I can certainly see it benefitting many small-time businesses in the long run.
And to serve as the cherry on top, Fairprice and its partner, Enterprise Singapore, will likely benefit in their own ways such as increased recognition and an elevated branding.
So in essence, they are really killing two birds with one stone.
Though in this case, it’s positive in all the right ways.
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