Source: Singtel. Pictured showing support for the 99% SME Shopping Week 2017 are (from left): Ted Tan, Deputy Chief Executive of SPRING Singapore; Yeo Hiang Meng, President of the Federation of Merchants’ Association of Singapore; Joyce Tee, Managing Director and Group Head of SME Banking at DBS Bank; Sim Ann, Senior Minister of State for the Ministry of Trade and Industry and Ministry of Culture, Community and Youth; Andrew Lim, Managing Director of Business Group, Group Enterprise at Singtel; and Parminder Singh, Chief Commercial and Digital Officer of Mediacorp. Mediacorp served as the official media partner for the event.
Singtel and DBS joined forces to support small and medium-sized enterprises (SMEs) with the launch of Singapore’s sole annual shopping event dedicated to promoting SME businesses. The third 99% SME Shopping Week was officially inaugurated by Sim Ann, Senior Minister of State for Trade and Industry, in the Toa Payoh Central HDB heartland.
This year’s event attracted a record-breaking 5,500+ participating SMEs, more than double the previous year’s 2,600. The 10-day event, held from October 20th to 29th, provided consumers in Singapore with in-store and online deals and discounts.
“The growing number of SMEs embracing digitalization underscores the need for brick-and-mortar businesses to adapt as they face potential disruption from innovative technologies,” remarked Andrew Lim, Managing Director of Business Group, Group Enterprise at Singtel. “This distinctive event fosters connections among SMEs across Singapore. This collective effort aims to elevate consumer awareness and visibility for these businesses.”
“In today’s digital economy and the rise of online shopping, SMEs can leverage the resources offered by the 99% SME movement to transform and digitalize their operations for enhanced productivity and market reach. This event allows SMEs to tap into the marketing capabilities of 99% SME movement partners and experience firsthand the advantages of online presence as a complement to their physical stores,” he added.
Joyce Tee, Group Head of SME Banking at DBS Bank, stated: “SMEs are the foundation of Singapore’s economy and continually seek innovative solutions as consumer behaviors change. In recent years, they have been increasingly adopting e-commerce and cashless payment options to enhance the shopping experience and provide greater convenience for their customers. DBS is pleased to support SMEs in expanding their customer base by co-marketing their products and services to the bank’s customers. This allows SMEs to connect with Singapore’s largest customer base while DBS customers benefit from exclusive online discounts offered during the 99% SME campaign.”
Throughout the 99% SME Shopping Week, shoppers could participate in a lucky draw for every S$20 spent at participating businesses. The grand prize was a pair of airline tickets to Tokyo. Other prizes included the newest Samsung gadgets, Huawei smartwatches, and shopping vouchers valued up to S$100 redeemable on the 99% SME eMarketplace, an e-commerce site hosted by online retailer Lazada. Singtel post-paid mobile subscribers could also receive 1GB of mobile data for one month with a minimum spend of S$9.90 at participating SMEs.
The 99% SME Shopping Week is the culmination of year-round initiatives aimed at assisting SMEs in transforming and digitalizing their operations. One such initiative involved Singtel’s collaboration with Temasek Polytechnic to support the online transition of SMEs in traditional trades. Business students from the polytechnic assisted over 150 SMEs in establishing an online presence, developing e-commerce capabilities, and enhancing their marketing strategies.
Spring Court, Singapore’s oldest Chinese restaurant founded in 1929, is a prime example of a beneficiary. Students worked with the third generation of the founding family to showcase their offerings on the 99% SME portal, enabling them to engage a new segment of online customers.
Furthermore, Singtel partnered with Nanyang Polytechnic - Singapore Institute of Retail Studies (SIRS) to assist SMEs in recruiting digital professionals. This partnership also creates opportunities for professionals seeking re-employment after acquiring new skills relevant to the digital economy. Currently, approximately 500 SMEs have expressed interest in employing digital professionals to guide their digital transformation.
In addition to facilitating the online presence of SMEs, Singtel collaborated with online retailer Lazada to develop the 99% SME e-marketplace. This platform enables SMEs to participate in e-commerce, and approximately 400 SMEs have registered on the marketplace through the 99% SME movement.
Singtel organized 25 workshops for SMEs taking part in 99% SME Shopping Week. Over 700 SMEs attended these workshops, gaining valuable insights into leveraging IT solutions, online marketing, and cybersecurity practices to navigate the digital landscape securely.
The 99% SME Shopping Week is organized by the 99% SME movement, co-founded by Singtel and DBS. The movement derives its name from the fact that SMEs constitute 99% of businesses in Singapore. They are the unsung heroes, employing 70% of Singapore’s workforce and contributing nearly half of the nation’s GDP. The movement empowers SMEs by uniting them on a shared platform to showcase their products and services. A new feature introduced this year is the 99%SME eMarketplace, a dedicated portal hosted on Lazada.sg. This platform allows small businesses to advertise their offerings and reach up to 4.5 million visitors monthly, enabling immediate online transactions.
Since its establishment in 2015, the movement has gained significant momentum and welcomed new partners this year, including AXA Insurance, Brother, Far East, Google, Huawei, Lazada, Mastercard, and Samsung. The group also includes SPRING Singapore, industry associations, grassroots organizations, and polytechnic schools among its supporters.