Reebonz e-commerce hub launched in Singapore
This e-commerce hub will enhance Reebonz’s global outreach by significantly improving the company’s capabilities in dispatching goods to its customers, no matter where they are in the world. At 200,000 square feet, it is four times larger than Reebonz’s previous office and distribution centre. In terms of capacity, the new infrastructure can stock over 500,000 types of products, which is more than 11 times the previous capacity of 45,000. I am heartened that Reebonz is already looking ahead to its next phase of development, where it is planning to invest in robotics to further increase its productivity.
In the ASEAN region alone, one quarter of the combined population of 400 million people are already shopping online today. By 2019, it is projected that one in every five sales in the Asia Pacific will be conducted through an e-commerce platform. By 2020, local e-commerce user penetration is expected to be 3.9 million, or nearly three quarters of all residents. Singaporean shoppers are turning to online retailing in droves, accounting for the popularity of players like Reebonz.
To enable our retailers to tap the growth opportunities, SPRING has set a retail Industry Transformation Map target of growing e-commerce’s share of total retail receipts from 3% to 10% by 2020. On the international front, IE Singapore is also helping our companies enter foreign markets through e-commerce platforms. E-commerce and other initiatives relating to the digital economy will be a key priority for Singapore’s ASEAN 2018 Chairmanship. We will work to advance common trade rules governing e-commerce to promote greater digital connectivity in the region, help companies access new markets, and lower operating barriers to entry.
Press-release at the official web-site of the Ministry of Trade and Industry of Singapore