SINGAPORE – Media OutReach – October 11, 2023 –
Amazon Global Selling Singapore today revealed its strategic priorities for 2024 at the Amazon Global Selling Summit 2023 (Southeast Asia) and signed a Memorandum of Understanding (MOU) with the Singapore Institute of Retail Studies (NYP -SIRS) from Nanyang Polytechnic. Under the MoU, the two parties will join hands to strengthen the online export capabilities of Singapore’s entrepreneurs and small and medium enterprises (SMEs) and further empower them to go global. The program aims to equip around 800 Singaporean entrepreneurs and SMEs with the knowledge and skills to launch their businesses online over the next three years and help them seize cross-border e-commerce (CBEC) opportunities. At the summit, Amazon also introduced a fee waiver for new sellers from Southeast Asian countries.
Synergistic collaboration with NYP-SIRS
The value of B2C e-commerce sales earned by Singapore businesses through overseas sales could more than double from S$1.7 billion in 2022 to S$3.9 billion by 2027, whether they invest in cross-border e-commerce. These are the findings of the recently launched study ‘Local Sellers, Global Consumers: Seizing the E-Commerce Export Opportunity in Singapore » study[1]which surveyed over 300 SMEs in Singapore.
One of the key strategies of
Retail Industry Transformation Map (ITM) 2025 led by Enterprise Singapore is to build global brands in Singapore and support internationalization. This is also the main background to the Memorandum of Understanding between Amazon Global Selling Singapore and NYP-SIRS. Amazon Global Selling’s vision is to help businesses benefit from global digital transformation, build global brands, and directly reach Amazon customers around the world. Through this collaboration, both parties plan to coordinate and jointly organize training and courses, to enable entrepreneurs and SMEs to have the opportunity to operate on the same stage as established brands and to gain global recognition among customers.
Entrepreneurs, SMEs and retailers in Singapore can expect to benefit from initiatives and programs such as product sourcing best practices, study missions and product development workshops that can tap into trends global consumption. The goal is to improve the training and support available to CBEC sellers, particularly those targeting North America. Amazon Global Selling and NYP-SIRS plan to work together to explore more initiatives to encourage and support cross-border e-commerce adoption among entrepreneurs and SMEs. Over a period of three years, the program aims to equip around 800 Singaporean entrepreneurs and SMEs with the knowledge and skills to revive and grow their CBEC businesses.
Anand Palit, Head of Global Sales, Amazon, Southeast Asiasaid: “This collaboration marks a key milestone in our continued journey to enable Singapore’s SMEs and entrepreneurs to thrive globally. As the e-commerce landscape rapidly evolves, our commitment remains steadfast to equipping local entrepreneurs and businesses with the online export knowledge, resources and expertise essential for sustained international success. We recognize the immense potential of Southeast Asia and envision a future in which our joint efforts with industry collaborators serve as a catalyst for the region’s entrepreneurial community. Together, we will not only navigate the opportunities and complexities of cross-border e-commerce, but also pioneer innovative solutions that keep local brands at the forefront of global cross-border e-commerce.
Russell Chan, director and CEO of Nanyang Polytechnic, said: “By being aware of what local businesses wanted and needed, we were able to work with Amazon Global Selling to ensure that this collaboration resulted in real, immediate and practical initiatives that leverage global expertise and knowledge from Amazon, as well as those from NYP-SIRS. experience and know-how in the field of retail sales. This region is rapidly growing to become a powerhouse of the cross-border B2C market – and this collaboration is poised to have a huge impact.
Driving business success at the Amazon Global Selling Summit 2023 (Southeast Asia)
Themed “Go Global from the Get Go,” this year’s Amazon Global Selling Summit (Southeast Asia) will feature inspiring success stories from sellers in the region, illustrating how they leveraged innovative services and tools of Amazon to achieve their international sales goals in North America. and Europe.
At the summit, Amazon Global Selling also outlined four strategic priorities for its Southeast Asia business in 2024:
Introducing global infrastructure and resources, strengthening local industry and entrepreneurship collaborations, enhancing product and service innovation to improve seller experience, and global business building solutions. global brand.. Additionally, Amazon Global Selling announced additional initiatives to strengthen support for sellers in Southeast Asia.
Amazon’s Global Selling Strategic Priorities for 2024
Overview of global infrastructure and resources: Amazon continually invests in global infrastructure and supply chain innovation to help optimize and simplify sellers’ fulfillment and delivery needs. FBA (Fulfilment by Amazon) offers a fast and reliable service that helps sellers reduce operational burden so they can focus on their brand and product innovation. In September, Amazon introduced Supply Chain by Amazon[2]a set of fully automated end-to-end supply chain services that will provide sellers with a comprehensive solution to quickly and reliably move products from manufacturing sites to customers around the world.
Strengthen collaboration between local industry and entrepreneurship: Amazon Global Selling will continue to actively strengthen its collaborations with governments, industry associations and higher education institutes in the region, to empower entrepreneurs and upskill CBEC SMEs. These efforts and collaborations, such as with NYP-SIRS, Enterprise Singapore, Singapore Business Federation (SBF) and the Department of International Trade Promotion (Thailand), not only facilitate knowledge sharing but also build online export capabilities .
Improve product and service innovation to improve the seller experience: Amazon is committed to introducing innovative products and services to reduce seller friction and improve the seller experience. To simplify how sellers create more comprehensive and engaging product descriptions, a set of generative AI features have just been launched to allow sellers to list new products faster and easier.[3]. In Southeast Asia, where credit card penetration is relatively low[4]Amazon recently launched debit card acceptance in Amazon stores for sellers in Southeast Asian countries such as the Philippines, Malaysia, and Thailand to improve the seller check-in experience in these regions.
Complete global branding solutions: Amazon helps businesses of all sizes launch and build a successful brand and offers comprehensive solutions for brands looking to establish a global presence. Beyond advertising tools, brand owners in the region can also look forward to new tools such as the Customer Loyalty Dashboard to help brand owners build stronger relationships with customers and strengthen brand and product loyalty.[5]as well as Brand Tailored Promotions which helps brands offer promotional codes to potential and new customers.
Unwavering commitment
Anand Palit, Head of Global Sales, Amazon, Southeast Asiaadded: “Amazon Global Selling Singapore has consistently strengthened and expanded its support for sellers in Singapore and Southeast Asia, working closely with key partners. We remain steadfast in our commitment to helping regional businesses in Singapore and Southeast Asia become global brands. involves building the capacity of local entrepreneurs and SMEs in the dynamic CBEC landscape, as well as leveraging Amazon’s active customer base, global infrastructure and innovative products.
Subscription Fee Waiver for New Sellers: To further support new sellers and provide more opportunities for those willing to explore cross-border e-commerce opportunities, Amazon is also offering a six-month discount on its Professional Selling plan to sellers located in Singapore, Philippines, Thailand and Malaysia. and several other parts of Asia that are signing up to sell in North American stores. Sellers who register with
Amazon Global Sales for the first time you can pay a total of 1 USD[6] for the first 6 months’ subscription fee ($1 for the first month and $0 for the next 5 months), instead of paying the standard Professional Sales Plan fee. This initiative reduces entry costs for SMEs planning to set up a global business and helps them get the first stage started financially.
Gray Tan, founder of Thiccly, said: “Fulfillment by Amazon (FBA) has been a game changer for my business. With FBA, our business became scalable with a global reach from day one. Instead of being overwhelmed by the operational logistics of packing orders for our Thiccly GrowPoles, we can focus on product design. In the first year of selling through Amazon Global Selling, we launched 6 new products in 12 months and grew our revenue 5x. And we’re on track to increase our revenue 400% year-over-year. another in 2023. Beyond plant care, Amazon Global Selling has given us the confidence to start a new business. »
To learn more about the millions of small and medium-sized businesses around the world growing with Amazon, visit:
about amazon.com/supporting-small-businesses.
More information about selling on Amazon can be found here:
https://sell.amazon.com.sg/north-america/us
More information about Amazon Global Selling Summit (Southeast Asia) can be found in this
link.
The seller will be charged $1 for the first month if they sign up with Seller Central US (sellercentral.amazon.com) and $0 for the next 5 months. Fees may vary depending on the recording store (US, Canada, Mexico). After the promotional period ends, the seller will be charged a standard Professional Selling Subscription fee, which is $39.99 per month when selling on Amazon.com.
