Singapore’s Retail Industry Digital Plan

The Retail Industry Digital Plan (IDP) was announced as part of ongoing efforts by the government to enable small and medium enterprises (SMEs) by adopting more digital technologies and contributing to the country’s digital transformation.  

 

Retail Industry IDP Digital Roadmap

The Retail Industry Digital Plan (IDP) was announced as part of ongoing efforts by the government to enable small and medium enterprises (SMEs) by adopting more digital technologies and contributing to the country’s digital transformation.  The Retail Industry will need a good digital strategy in order to keep up with rapid digitalisation and growing customer expectations. The IDP therefore contains a Digital Roadmap which serves as a guide for SMEs to navigate their digital transformation and equip them with digital solutions through three stages:

Stage 1: Getting the Digital Economy Ready

The first stage will help SMEs in the Retail Industry digitalise business solutions and optimise resources in order to improve efficiency.

Examples include:

  • e-Payment
  • Integrated Point of Sales
  • e-Commerce
  • Inventory Management

Stage 2: Growing in the Digital Economy

The second stage will enable SMEs to capture new consumer markets while lowering operating costs through aggregation platforms and mobile-enabled solutions. Operations will be increasingly automated while customers are encouraged to self-serve with the help of digital applications.

Such solutions include:

  • Mobile Enabled Payment
  • Self checkout
  • Store Layout Optimisation
  • Resource aggregation platforms

Stage 3: Leaping Ahead

The third stage exploits new, advanced technology and digital platforms such as Omni-channels to reach global markets.

Examples of such technology include:

  • Global e-Marketplaces
  • Intelligent concierge robots
  • Collaborative digital advertising
  • Product authentication

 

Digital Roadmap for Skills and Training

As the Retail Industry expands and progresses, the digital skills required to follow suit.

Job roles will likely require upskilling to keep up with digitalisation and it is best to prepare early by providing the relevant training.

IDPs outline two types of courses for basic and advanced users respectively:

  1. Basic Courses
    These are required for all users as they cover important foundations to improve digital literacy and awareness. These users tend to be a part of retail support and operations functions.Examples of such users within Retail Industry include:

    • Marketing associates
    • Merchandising associates
    • Sales associates
  2. Advanced Courses
    These are recommended for users who want to attain high proficiency in digital skills. These users tend to be business specialists who use digital solutions to better achieve business objectives.Examples of such users include:

    • Chief Executive Officers (CEOs)
    • Retail operations directors
    • Merchandising directors

Singapore’s Retail Industry Digital Plan

 

Additional Support

SMEs are also provided with additional help through basic advisory or specialist consultancy services through SME Centres and SME Digital Tech Hubs. Resources available include self-assessment checklists for digital readiness, consultation to provide digital advisory or project management information, and more.