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SingPost launches E-Commerce Shopping Mall

Update On :28 October 2015

SingPost launches E-Commerce Shopping Mall

Singapore Post today (Oct 28) announced the launch of the Republic’s first shopping mall that will house online as well as offline brick-and-mortar shops under one roof, where shoppers can browse in-store, purchase products and get it delivered home directly.

While consumers have the convenience of shopping, retailers save on storage space in the store as fulfilment would be done at the backend of the warehouse, SingPost said in a media release.The new retail mall, spanning 25,000 square metres, is scheduled to be completed around mid-2017 and will be located at the open concourse in front of the Singapore Post Centre (SPC) next to Paya Lebar MRT station. The construction cost, SingPost said, is about S$150 million. This includes upgrading amenities and facade for the adjoining office building.

Mr Lim Ho Kee, Chairman of SingPost, said: “Ever since our IPO in 2003, SingPost has always sought to maximise the returns to our shareholders by realising the full potential of our assets - from human capital to physical assets and resources. The redevelopment of the retail mall at SPC is part of our efforts to extract maximum value from our property portfolio and support our accelerated transformation from Singapore mail to global eCommerce logistics.”

Dr Wolfgang Baier, Group Chief Executive Officer of SingPost, said: “SingPost is building a unique and disruptive concept - converging online and offline - to gain maximum customer benefits. With the new retail mall at SPC, consumers can enjoy the best of both worlds - online and offline - while businesses can potentially cut costs and focus on enhancing customer experiences. This is an important shift in mindsets as well as the retail and eCommerce landscapes. ”The convergence of online and offline, Dr Baier said, will bring exponential benefits to consumers and businesses.

News Source From : http://www.todayonline.com/singapore/singpost-launches-e-commerce-shopping-mall

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