\n<\/p>\n
SINGAPORE –\u00a0Media
\u00a0<\/p>\n These are
\u00a0<\/p>\n Over 3,000 SMEs
\u00a0<\/p>\n Mr. Bernard Tay,
\u00a0<\/p>\n Si<\/b>zeable regional growth opportunities for
According
\u00a0<\/p>\n Singapore
\u00a0<\/p>\n Currently, close
\u00a0<\/p>\n 87% of those surveyed locally agreed that e-commerce is critical for their ability to
\u00a0<\/p>\n Key challenges faced by local
Amidst the
\u00a0<\/p>\n High cross-border
\u00a0<\/p>\n \u00a0<\/p>\n Lastly, 72% of MSMEs
\u00a0<\/p>\n Tackling current challenges: Start local,
Amazon offers
\u00a0<\/p>\n Most recently in
\u00a0<\/p>\n Enterprise Singapore’s Executive Director
\u00a0<\/i><\/p>\n Amazon has
\u00a0<\/p>\n To further help
Other resources
\u00a0<\/p>\n Over the three days at 2021 Amazon Expo, Seller Boot Camp, MSMEs can
\u00a0<\/p>\n To
To
\u00a0<\/p>\n \u00a0<\/b><\/p>\n Appendix A: Success stories
\u00a0<\/p>\n [1]<\/sup>
Huge potential
for local SMEs with B2C e-commerce export value in Singapore forecast to grow
from S$1.4B in 2021 to S$3.5B by 2026, per Amazon’s first-of-its-kind report 87% of SMEs find
e-commerce critical to expand globally, with greater sales growth expected
overseas than domestically, reveal report findings SINGAPORE –\u00a0Media
OutReach\u00a0– 11 October 2021 –\u00a0(NASDAQ:AMZN) –\u00a0The …<\/p>\n","protected":false},"author":1,"featured_media":18054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18053"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18053"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18054"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOutReach<\/a>\u00a0– 11 October 2021 –\u00a0(NASDAQ:AMZN) –\u00a0The annual value
\nof business-to-consumer (B2C) \u00a0e-commerce
\nexports in Singapore is estimated at S$1.4 billion in 2021 and could
\nreach S$3.5 billion in 2026 if micro, small, and medium-sized enterprises
\n(MSMEs) accelerate their pace of using e-commerce to sell overseas. Currently,
\nMSMEs are estimated to contribute 45% of Singapore’s B2C value of e-commerce
\nexports in 2021.<\/p>\n
\nfindings from Amazon’s new ‘Local Sellers, Global
\nConsumers: Capturing Singapore’s e-commerce export opportunity<\/a>‘ <\/i>report, which surveyed over 300 MSMEs from
\nSingapore, and was
\nreleased at the inaugural ‘2021<\/a>\u00a0Amazon
\nExpo, Seller Boot Camp<\/a>‘. The report, prepared by consulting firm AlphaBeta, is the first-of-its-kind
\nin analysing the size of Singapore’s e-commerce export potential, the
\nperspective of local MSMEs, and best practices to achieve that potential. <\/p>\n
\nfrom Singapore, Malaysia, and the Philippines are expected to join this Seller Boot Camp, a 3-day virtual
\nevent hosted by Amazon from 11-13 October 2021, to equip themselves with the tools, resources, and knowledge to seize
\ncross-border opportunities, increase their customer reach, and expand
\ntheir business globally. During the event, Enterprise Singapore’s (ESG) Executive
\nDirector (ICM & Digitalisation), Mr Lee Yee Fung, will also share how the Singapore
\ngovernment and industry experts are working together to help local businesses
\nunlock opportunities with e-commerce.<\/p>\n
\nHead of Amazon Global Selling, Southeast Asia<\/b>, said, “We are on a mission to help MSMEs start
\nlocal, grow global. Local businesses of any size can benefit from this report to
\nunderstand a range of topics, from business models and export regulations to
\nconsumer needs and foreign competition. Along with the report insights, our
\nfirst-ever Seller Boot Camp comes as a timely opportunity for small enterprises
\nto identify the current gaps in their operations and arm themselves with the
\nknowledge, resources, and connections to sustainably expand their business. Not
\nonly can MSMEs learn from Amazon, but they can also connect with Enterprise
\nSingapore and our key partners to glean insights, additional support, and an
\nexpanded network to grow globally.” \u00a0<\/p>\n
\ne-commerce exports <\/b><\/p>\n
\nto the report, if current e-commerce adoption trends continue, the annual value
\nof B2C e-commerce exports in Singapore is expected to grow at 5% per
\nyear to reach S$1.7 billion in 2026, from S$1.4 billion in 2021. However, if
\nMSMEs accelerate their use of e-commerce to export, this value is projected
\nto increase more than two-fold and reach S$3.5 billion in 2026.<\/p>\n
\nMSMEs surveyed anticipate greater sales growth prospects overseas (35%) than at
\nhome (13%), with Asia Pacific countries \u2013 Malaysia, China, Australia, Indonesia and Thailand \u2013 seen as the top five e-commerce export markets in five years’
\ntime, by 2026.<\/p>\n
\nto one-quarter (24%) of MSMEs in Singapore conduct B2C e-commerce, of which,
\nmore than 90% use it for export. <\/p>\n
\nexport, with top motivations including the ability to reach overseas customers,
\naccess to sales and marketing tools that are available on e-commerce marketplaces,
\nand support for logistics and payments provided by these marketplaces. For 35%
\nof surveyed Singapore MSMEs that export via e-commerce, more than half of their
\nannual e-commerce sales were generated from
\nabroad. <\/p>\n
\nMSMEs <\/b>in e-commerce exports <\/b><\/p>\n
\nopportunities for growth and global expansion through e-commerce, MSMEs surveyed in Singapore
\nrevealed that key challenges can be narrowed down
\nto three categories \u2013 barriers in cost, regulation, and information and capabilities.<\/p>\n
\nshipping costs is the most common challenge faced by Singapore MSMEs surveyed,
\nwith 81% citing it as a major barrier. While Singapore offers a robust range of
\ngrants to support local businesses on their e-commerce export journeys, about
\none-third of small enterprises (32%) surveyed admitted that they will find
\nfurther support valuable. <\/p>\n
\nover three-fourths (78%) of MSMEs surveyed cited a lack of clarity in import
\nregulations as a key barrier to selling overseas via e-commerce. Only 19% believe that current advisory
\nsupport on importing regulations is sufficient. <\/p>\n
\nsurveyed believe they lack the ability to compete with other sellers globally,
\nand 71% admitted that they are unsure of foreign consumers’ demands and
\npreferences. <\/p>\n
\ngo global with Amazon<\/b><\/p>\n
\nvarious resources for thousands of local sellers to tackle their current
\nbarriers and complement existing efforts by industry and government agencies.<\/p>\n
\nSingapore, Amazon launched its IP Accelerator programme<\/a> to make it easier and more
\ncost-effective for small businesses to protect their brands by obtaining
\ntrademarks and tackling goods infringement in Amazon’s stores. ESG will also
\nsupport Singapore businesses defray some of the costs associated with internationalisation,
\nsuch as Intellectual Property Protection services in North America offered
\nunder the Amazon IP Accelerator programme. <\/p>\n
\n(ICM & Digitalisation), Mr. Lee Yee Fung, said<\/b>, “Key players
\nin the e-commerce landscape, such as Amazon, have an established ecosystem of
\nsolution providers and suite of resources to assist sellers in deepening their
\ndigital capabilities for market expansion. We hope participants at the 2021
\nAmazon Expo, Seller Boot Camp will take the opportunity to acquire new
\nknowledge about selling overseas and tap the range of support that can help
\nthem do so. We look forward to partnering more Singapore businesses to grow
\ntheir sales avenues and international footprint through e-commerce.”\u00a0 <\/p>\n
\nsupported many homegrown businesses such as Hegen, Malt and Wine Asia, and Tack.
\nDetails on the success of these MSMEs is included in appendix A<\/i>. <\/p>\n
\nsellers manage cross-border shipping costs and logistics, Amazon’s over 225
\ntools also include the Fulfilment by Amazon (FBA) service through which Amazon
\npicks, packs, and ships products, as well as takes care of customer service and
\nreturns, across its 20 stores globally. Locally, Amazon is also waiving its
\nmonthly seller subscription fees until 31 December 2022[1]<\/sup>.<\/p>\n
\ninclude the Amazon Seller App<\/a> for local sellers with accounts on
\nAmazon.sg to track sales and manage their business via mobile, the <\/span>Marketplace Appstore<\/a>, a one-stop shop to discover third-party
\napplications and services for automating tedious business aspects, and the <\/span>Seller Forum<\/a>, a resource for first-hand advice from
\nfellow business owners on selling with Amazon.sg. Sellers can also join the <\/span>Sell on Amazon Singapore
\nFacebook page<\/a> to connect with
\nthe community of sellers on Amazon.sg. These resources are in addition to easy
\nlisting tools, payment processing and credit card fraud protection, and
\npromotional features that businesses of all sizes on Amazon.sg can use to be
\ndiscovered by customers and improve sales.<\/span><\/p>\n
\nhear from industry experts and Amazon’s partners who will dive into topics
\nranging from cross-border e-commerce and payments to customer and sales
\nconversion strategies, to help small businesses scale globally and improve
\ncustomer reach.<\/p>\n
\ndownload the ‘Local Sellers,
\nGlobal Consumers: Capturing Singapore’s e-commerce export opportunity’ report, visit https:\/\/alphabeta.com\/our-research\/capturing-the-e-commerce-export-opportunity-in-singapore\/<\/a>. A
\nfull report which includes findings from other ASEAN countries will be released
\nat a later date.<\/p>\n
\nlearn more about the small and medium-sized businesses growing with\u00a0<\/span>Amazon.sg,
\nvisit:\u00a0<\/span>https:\/\/amazon.sg\/shoplocal<\/a>.\u00a0<\/span>More information about selling on Amazon
\ncan be found here: <\/span>https:\/\/www.amazon.sg\/sell<\/a>.<\/span><\/p>\n
\nof local small businesses selling on Amazon.sg <\/b><\/p>\n\n
\n2020, Hegen started retailing its products on Amazon.sg and has since seen
\nsteady growth in revenue. During Prime Day 2021, Hegen sold 5x as many products
\nas compared to a year ago. Aside from Singapore, Hegen also sells its products
\non Amazon.com and Amazon.uk to reach a global audience online.<\/li>\n
\nBy selling via Amazon, the brand has been able to offset its initial onboarding
\ncosts of selling online, upskill digitally to build its e-commerce
\ncapabilities, and navigate the disruptions caused by COVID-19. It also uses
\nFulfilment by Amazon (FBA) to deliver products to consumers and overall, has
\nboosted sales by 3x in just 5 months.<\/span><\/li>\n
\nin 2019, Tack started selling on Amazon.sg in April 2021 and within 5 months,
\nexpanded internationally via Amazon.com \u2013 all while being based in Singapore.
\nIt is now eyeing a global expansion with Amazon and expects its shoppers on
\nAmazon.com to contribute to 25% of its GPS’ sales in the first year, followed
\nby a 40% growth in its GPS’ sales in the next year.<\/span><\/li>\n<\/ul>\n
<\/p>\n
\n
\nThis waiver applies for professional selling
\nfees only. Read more here<\/a> for
\napplicable terms and conditions. <\/p>\n<\/div>\n<\/div><\/div>\n\n
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