SINGAPORE - THE HUB OF ASIA
Singapore has been at the forefront of ecommerce adoption across the region in the last few years. The country has been exceptionally well-positioned in attracting venture capital from across the world, resulting in many unicorns and start-ups that have dominated the digital landscape across the entire region.
Due to its limited market size, many Singapore companies have to expand overseas at an early stage. Similarly, the government has been proactive in promoting free trade, with more than 20 FTAs, including with China and the USA.
While many developed countries are experiencing declining GDP growth, ASEAN and China have continued with their exceptional growth rates.
Consumer spending is a key growth-driver in this region. With the growing middle class, demand for quality imported products has risen in tandem. As shown on the charts to the right, ecommerce is expected to contribute to the significant growth in retail sales in both ASEAN and China, with CAGR of 32% and 21% respectively in the next few years.
Singapore companies have established strong networks and businesses across the whole region. Changi is a well-entrenched air hub, with more than 100 airlines flying to 400 cities and carry more than 65m visitors in 2018. Singapore companies have developed unique capabilities and advantages in every part of the ecommerce value chain, establishing themselves as the market experts in ASEAN and China.
Individually, each company has proven track records of being able to deliver their core capabilities for their partners and clients.
However, a key request of brands that wants to expand in Asia is for a one-stop solution that will handle everything from market access to marketing and logistics.
SEED - THE ONE STOP SOLUTION
SEED, short for Singapore Ecommerce Enterprises Development office, is formed by a consortium of Singapore companies, with the objectives of pooling resources and offering a stronger value proposition to our partners/clients. Each member company of SEED will bring together unique capabilities that aims to provide a one-stop solution for companies that wants to access and grow in the crucial growth markets of ASEAN and China.
HOW WE CAN HELP BRANDS?
SEED is funded by the Singapore Government. If you are a brand owner or are exploring options for expansion into Southeast Asia, SEED provides a free referral service based on your requirements. Whether you are looking for logistics partners to help with your end-to-end logistics, or digital marketing firms to build your brand's awareness, or agents to help you grow your channels and customer base in Asia, SEED can recommend the right partners to you. Contact us today for a free referral.
HOW WE CAN HELP SINGAPORE FIRMS?
For Singapore firms that have always been interested in expanding into the European markets, the SEED office in London offers a cost effective way to connect with unique European brands and companies. To strengthen the overall value proposition and provide a more comprehensive solution, SEED is always on the lookout for companies with capabilities that complement the rest of our partner companies.
Membership is currently free. Kindly contact us to find out more.