Singapore Post (SingPost) has started construction work on a new retail mall that combines the benefits of both online and offline shopping by offering a complete suite of e-commerce logistics solutions.
The new mall will be built as part of the Singapore Post Centre (SPC) and will offer greater convenience, choices and experiences to consumers by providing online e-merchants and offline stores all under one roof.
Online shopping through e-merchants will include in-shop online ordering and flexibility in delivery and pickup timings. For example, a consumer could browse in store, purchase the product online and arrange for delivery of the product directly to their home. The consumer could then continue shopping, watch a movie or have a meal in the mall without having to carry bulky shopping bags. The retailer, on the other hand, could save on storage space in store, as fulfillment would be carried out at the warehouse.
The new 270,000ft² mall will be located at the front of the SPC next to Paya Lebar MRT station and will be delivered at a cost of approximately S$150m (US$107m). The project is scheduled for completion by mid-2017.
Lim Ho Kee, chairman of SingPost, said, “SingPost has always sought to maximize the returns to our shareholders by realizing 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 e-commerce logistics.”
Dr Wolfgang Baier, group CEO 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 while businesses can potentially cut costs and focus on enhancing customer experiences. This is an important shift in mindset as well as the retail and e-commerce landscapes. The convergence of online and offline will bring exponential benefits to consumers and businesses.”
Clara Cheo, CEO, Golden Village Multiplex, one of the key anchor tenants of the new SPC mall, said, “Amidst fast-changing trends and the evolving business landscape, SingPost’s continuous innovation has transformed the brand into a global player in its industry while staying relevant to customers’ needs.
“With these shared values, we at Golden Village (GV) are proud to be part of the upcoming development in 2017. With the mall’s abundant car park space, easy access from Paya Lebar MRT station and city fringe location, we will be able to bring GV’s well loved cinema experience to even more residents in the east of Singapore.”
October 29, 2015