Innovative Retail Strategy: Driven by Data

On 3 July, SGTech organised the “Innovative Retail Strategy Driven by Data” conference at GeoWorks, a collaborative platform by the Singapore Land Authority (SLA) for geospatial start-ups and industry partners to co-create innovation and business opportunities. This conference is a joint effort by SGTech’s Cloud & Data Chapter and the Singapore Retail Association (SRA). 

It commenced with an address by Mr. Thomas Pramotedham, Executive Committee Member of the Chapter, and Ms. Rose Tong, Executive Director of SRA. 

The conference was attended by delegates from close to 30 retail organisations and more than 60 technology solution providers. The sharing session covered the use of analytics through various forms – predictive intelligence, smart payments and video for greater customer visibility. The sharing and discussions were robust, moderated by Mr. Jaime Syjuco, Founder, Lean Retail Labs & Managing Director, Moda Pacifia Pte Ltd.

Speakers and panellists include Professor Andrew Lim, NUS Department of Industrial Systems Engineering & Management; Mr. Michael Toh, Chief Executive Officer, 1GFS Pte Ltd and; Mr. Allen Lin, Chief Executive Officer, Trakomatic. Ms. Katherine Chong, Assistant Manager, Singapore Land Authority gave an overview of SLA’s efforts in establishing Singapore’s national spatial data infrastructure including the GeoWorks initiative. 

Key Takeaways

  • Retail is a fast-evolving yet important industry in Singapore. However, growth has been slow in recent years due to economic slowdown and e-commerce competition. New technology adoption and practices are needed in order to stay competitive.

  • Recent reports have highlighted an increasing challenging environment even as we are in the middle of our Great Singapore Sale season. In many cases, retailers are looking deeper into their databases to uncover stronger connection with their consumers, uncovering insights to make better offerings to their customers.

  • To create a competitive advantage, retailers need to connect the data they already have with insights gleaned from digital devices, voice, and IoT sensors to transform their customer experiences and enhance personalisation efforts. 

View the event photos on Facebook HERE!

Published July 2018