Amazon Global Selling introduces the ‘Amazon Global Selling Singapore Cross-border Brand Launchpad’ program in collaboration with Enterprise Singapore and Singapore Business Federation, empowering over 100 local MSMEs to launch and scale their brands in the U.S. through tailored account management support. Additionally, a knowledge collaboration will provide essential cross-border e-commerce learning opportunities to at least 300 Singapore companies, fostering their global business growth.
25 July 2023 – Amazon Global Selling has unveiled the groundbreaking “Amazon Global Selling Singapore Cross-border Brand Launchpad” program in collaboration with Enterprise Singapore (EnterpriseSG) and Singapore Business Federation (SBF). The initiative aims to equip local entrepreneurs with essential cross-border e-commerce skills, enabling over 100 micro, small, and medium enterprises (MSMEs) to launch and scale their brands globally. Additionally, a long-term knowledge collaboration with SBF will provide essential cross-border e-commerce learning opportunities to at least 300 Singapore companies, ushering them towards a thriving presence in the worldwide market.
The innovative program will provide eligible local MSMEs with dedicated and tailored account management support, guiding them in launching and scaling their brands in the United States (U.S.). This support extends to areas such as business growth advisory, marketing optimization, analytics tools, and product standards certification in line with local regulations.
As part of the knowledge collaboration, Amazon Global Selling, in partnership with SBF, will develop an exclusive cross-border e-commerce learning series. Over 300 Singapore companies will benefit from valuable insights, including an introduction to the cross-border e-commerce business model, solutions to address global e-commerce challenges, and essential digital economy skills like product selection and preparation, overseas market and consumer research, digital brand building, performance optimization, and cross-border logistics.
Global e-commerce has witnessed significant growth at an average rate of 12%, and the cross-border Business-to-Consumer (B2C) e-commerce market, in particular, is experiencing a remarkable global CAGR of nearly 28.4%. Recognizing the importance of local collaborations and support for MSMEs, Anand Palit, Head of Amazon Global Selling, Southeast Asia, expressed enthusiasm for partnering with Enterprise Singapore and Singapore Business Federation to empower local businesses in embracing the vast potential of cross-border e-commerce.
According to Soh Leng Wan, Assistant Chief Executive Officer of EnterpriseSG, the collaboration with Amazon Global Selling is set to help Singapore businesses enhance their capabilities in cross-border e-commerce, thereby unlocking new drivers of growth. Kok Ping Soon, CEO of Singapore Business Federation, echoed the sentiment, expressing excitement for the partnership with Amazon Global Selling to accelerate cross-border e-commerce adoption by Singapore companies.
A study titled “Local Sellers, Global Consumers: Capturing the e-commerce export opportunity in Singapore,” conducted by consulting firm Access Partnership, reveals that the value of B2C e-commerce sales earned by Singapore firms from overseas sales could nearly double from S$1.7 billion in 2022 to S$3.9 billion by 2027 if they invest in cross-border e-commerce. The study highlights the optimism among Singaporean MSMEs about the demand for online shopping, with 82% believing e-commerce is critical for their ability to export. Access to marketing tools for international product visibility and ease of engaging with overseas customers online were cited as key benefits of using e-commerce for export.
Amazon Global Selling commends the emergence of Singapore brands on the global stage, with over 60% of sales in the Amazon store coming from independent sellers, most of which are small and medium-sized businesses. Successful Singapore sellers, such as HYDRAGUN, have achieved remarkable growth, reaching global audiences and providing premium recovery solutions worldwide. – source: Malay Mail
The ‘Amazon Global Selling Singapore Cross-border Brand Launchpad’ program marks a significant step in empowering Singapore MSMEs to thrive in the dynamic world of cross-border e-commerce, setting the stage for transformative growth and global market presence.