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The virtual mall aims to recreate IMM’s shopping experience, enabling shoppers to purchase authentic merchandise at attractive prices right at the comfort of their homes.
IMM, Singapore’s largest outlet mall operated by CapitaLand, has launched its virtual mall on Shopee to help Singapore retailers embrace digitalisation.
In an SGX filing, CapitaLand noted that the initiative is an “outcome of the Emerging Stronger Taskforce’s (EST) Alliance for Action (AfA) on facilitating smart commerce”.
Recreating IMM’s shopping experience online, the virtual mall enables shoppers to purchase authentic merchandise at attractive prices right at the comfort of their homes, while providing retailers more online marketing opportunities to drive revenue via enhanced branding under one roof.
Retailers on the virtual mall will also enjoy marketing subsidies from Shopee and CapitaLand, which include trial packages of livestreaming their merchandise on Shopee LIVE.
In its initial phase, the virtual mall will feature a line-up of 33 brands, including retail brands adidas, Pierre Cardin, Kipling, SK Jewellery, Winter Time and Premier Football as well as food and beverage establishments Jollibean, Ajisen Ramen, SF Fruits, Old Chang Kee, Streats and So Pho.
“COVID-19 has adversely impacted Singapore retailers, but overcoming the challenges has also strengthened their resilience and camaraderie. Through collaboration, the different players in Singapore’s retail ecosystem will be able to deliver innovative products and services that they would not be able to achieve in isolation, said Lee Chee Koon, Group CEO of CapitaLand Group and Co-Lead for the AfA on Facilitating Smart Commerce.
“CapitaLand is thus delighted to partner fellow industry players to drive value creation for Singapore retailers by integrating the physical and digital shopping worlds, and exporting their brands overseas.”
Chris Chong, Managing Director of Retail at CapitaLand Singapore noted that the collaboration with Shoppee will “enhance CapitaLand’s online presence beyond eCapitaMall, create new income streams for retailers and widen their consumer reach”.
“It will also yield meaningful insights on how we can continue to innovate omnichannel retail business models,” he added.
Meanwhile, Zhou Junjie, Chief Commercial Officer at Shopee, said the launch of the IMM virtual mall demonstrates the “importance of digital transformation and the value of strategic partnerships in today’s retail landscape”.
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