Andrew Yong Chuan TAN’s Post

Singapore’s wholesale trade sector contributes over 20% to our economy, yet today we see it turning to the Job-Skills Integrator for Wholesale Trade (JSIT-WST) for a lifeline in digital and green talent. But what does this really say about the state of our businesses? **Is this sector lagging behind in innovation and adaptability?** Relying on government-supported initiatives and external job-skills advisers to plug talent gaps might seem like a good strategy, but are we missing the bigger picture? Shouldn’t our businesses be leading the charge in digital transformation and sustainability rather than waiting for external help? **Are we too reactive?** Reskilling existing workers is important, but what happened to proactively building a future-ready workforce? Why is there such a dependence on external agencies to guide our businesses? Are we not capable of creating our own pathways to success? **And what about the smaller players?** This initiative highlights the benefits for mid-sized firms, but what about the smaller enterprises that are just as critical to our economy? Are they being left behind in this rush to digitize and go green? Let’s not forget that while the JSIT-WST might bring some relief, the real question is whether we’re fostering a culture of innovation and resilience within our businesses - or just patching up problems with government grants and external consultants. 🔍 Are we being too complacent? It's time to reflect on whether this dependency is a sign of underlying issues in our business ecosystem. The future of Singapore’s economy depends on how we answer these questions. #WholesaleTrade #BusinessInnovation #WorkforceDevelopment

🌟 Exciting times for Vietnam's retail sector! A recent article co-authored by Christophe Péron from Index Partners and James Miles-Lambert from Maison Retail Management International in Vietnam Investment Review gives insights into the transformative changes of Vietnam's retail sector, signaling strong potential for robust growth and investment opportunities. 💡 Key highlights from the article: Market growth: Vietnam's retail market is poised for expansion, driven by a burgeoning middle class (36m people will join the consuming class in the next decade) both in the key cities of Ho Chi Minh City and Hanoi, as well as in secondary cities like Da Nang, Can Tho, and Hai Phong. Digital transformation: The demand for digital solutions and an omnichannel strategy is more pronounced than ever. Retailers like Maison are leveraging technology to enhance customer engagement and streamline operations, reflecting a shift towards a more integrated retail experience. Strategic M&A: To navigate the competitive landscape and create an edge, retailers are increasingly turning to M&A strategies. These are often financed by private equity and private debt, aimed at consolidating market presence and diversifying product offerings. Mai Son Pham James Miles-Lambert Christophe Péron Julien Curtet #IndexPartners #VietnamRetail #MergersAndAcquisitions #InvestmentTrends #RetailInnovation https://lnkd.in/ezxZ8kyW

Thanks Vietnam Investment Review for this second article on Vietnam's retail sector. A lot to learn in it, especially from the co-author James Miles-Lambert from Maison Retail Management International!

🌟 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝘁𝗵𝗲 𝗪𝗼𝗿𝗸𝗳𝗼𝗿𝗰𝗲 𝗶𝗻 𝗪𝗵𝗼𝗹𝗲𝘀𝗮𝗹𝗲 𝗧𝗿𝗮𝗱𝗲 🌟 At the inaugural 𝗪𝗼𝗿𝗸𝗳𝗼𝗿𝗰𝗲 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗲𝘃𝗲𝗻𝘁, it was revealed that the Wholesale Trade sector is not only Singapore’s largest, contributing over 20% to our GDP, but it’s also evolving rapidly with the rise of digital and green trends. 𝗞𝗲𝘆 𝗶𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲: Job-Skills Integrator (JSIT) for Wholesale Trade: Singapore Business Federation (SBF) has been appointed as the JSIT partner to help companies redesign jobs and reskill employees, addressing human capital needs with support from EnterpriseSG, WSG, and SkillsFuture Singapore. Workforce Transformation Awards: Recognizing companies like Lim Siang Huat and Franco-Asian Enterprises, who have successfully embraced digital transformation and workforce upskilling to stay competitive and future-ready. As the wholesale trade sector continues to transform, it’s crucial for businesses to stay ahead by embracing these changes. 🔹 𝗜𝘀 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗿𝗲𝗮𝗱𝘆 𝘁𝗼 𝗮𝗱𝗮𝗽𝘁 𝗮𝗻𝗱 𝗴𝗿𝗼𝘄? 𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀 𝘁𝗼𝗱𝗮𝘆 𝘁𝗼 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝗵𝗼𝘄 𝘄𝗲 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝘀𝗲𝗰𝘂𝗿𝗲 𝗴𝗿𝗮𝗻𝘁𝘀 𝗮𝗻𝗱 𝗻𝗮𝘃𝗶𝗴𝗮𝘁𝗲 𝘁𝗵𝗶𝘀 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗹𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲. #WorkforceTransformation #WholesaleTrade #DigitalTransformation #GreenEconomy #BusinessGrants #Innovation #Singapore

🌟 Why do companies fail in international expansions? 🌟I have done the research. And I can help you avoid the same mistakes. Ever wondered why companies try but fail to expand globally? Let´s take a look at some examples: 🧭 Walmart: Walmart struggled in Brazil due to different consumer preferences and strong local competition. Eventually, they closed many of their stores and rebranded to Grupo Big, which was later bought by successful rival Carrefour. The same problem occurred when Walmart tried to expand into Germany. 🧭 Best Buy: Best Buy expanded into the UK and faced challenges due to differences in consumer preferences and competition, leading to store closures. 🧭 Starbucks: Attempting to enter the Australian market, Starbucks faced difficulties due to the strong local coffee culture, resulting in many store closures. 🧭 Tesco: Tesco's expansion into the US failed due to cultural differences and intense competition, causing them to abandon their plans. 🧭 Daiichi Sankyo: The Japanese pharmaceutical company faced challenges in the US due to regulatory differences and strong local competition. These examples underscore the importance of really understanding local culture, consumer preferences and regulatory requirements when expanding into a new market. 👉 So here´s what I focus my advice on when clients wish to expand to Brazil: 📶 Do your Market Research: Many companies do not invest enough in understanding local market conditions at a granular level, leading to misunderstandings and poor decisions. It is not about what you can offer. Find out who your clients are, and what they really need and want. Talk to them in their own language! 📶 Adapt your Product: Companies that do not tailor their products and services to local needs struggle to attract customers. Do not assume what works in your home market will work abroad too. More often than not, it won´t. 📶 Build trustful Local Partnerships: The absence of collaboration with local businesses or suppliers makes market entry difficult and reduces acceptance. Know who you can trust. And then ask what their end clients want and how you can help along the value chain. 📶 Adjust Pricing: Companies that do not adjust their pricing strategies to the local economy find it hard to remain competitive. Understand price sensitivity, in detail. Which product or service can command a premium, and which cannot, and why. 📶 Deepen your Cultural Understanding: Differences in business culture, negotiation strategies and communication often lead to misunderstandings and conflicts. Do your homework by asking people who know both your home, and host culture. Many costly mistakes can be avoided. If you need support with your market entry in Brazil 📞 let's talk! Together, with the support of my professional network of specialists, we can make your expansion a lasting success. 💼📈 Comment on what you´ve learned from other failed expansions. And contact me for advice on how to avoid them!

A game-changer unfolded earlier today with the launch of the Jobs-Skills Integrator for Wholesale Trade (JSIT-WST), a transformative initiative designed to enhance career health and empower Wholesale Trade SMEs and mid-career professionals. As we tackle the challenges of digital transformation and sustainability, this initiative provides essential support to ensure both careers and businesses remain robust and forward-thinking. Building on the Jobs Transformation Map for Wholesale Trade, JSIT-WST provides a centralised hub for accessing critical training and talent resources, helping businesses stay competitive and relevant in an ever-evolving landscape. Under JSIT-WST, SMEs seeking to transform their workforce can leverage support from the Singapore Business Federation and industry partners, including training providers, employment agencies and services for Job Redesign, reskilling and talent matching. Additionally, WSG presented the inaugural Workforce Transformation Awards for the Wholesale Trade sector at the event, recognising companies who demonstrated commitment to workforce transformation through their dedication to Job Redesign and employee reskilling and upskilling initiatives. Congratulations to Franco-Asian Enterprises Singapore Pte Ltd and Lim Siang Huat Pte Ltd for their efforts in improving the career health of their employees! Together, let's work together and pave the way for a brighter, more resilient future in Wholesale Trade! Singapore Business Federation Enterprise Singapore SkillsFuture SG Alvin Tan Dilys Boey Boon Ping Lau Julia Ng Lee Hoon Kenneth Wong

How can retailers in Asia successfully expand into other countries in the region? After all, each Asian country has its own way of doing things, and what works in one place might not work in another. Check out our top 5 tips for a seamless expansion plan: https://lnkd.in/g8834wag Inside Retail Asia #retailer #asia #global #expansion #ordermanagement #orderfulfillment

🌟 Announcing our Triple A Collab: AWEX | Alioth | Alibaba.com 🌍✨ Working together is not easy. Differences in language, geographic location, culture, timezone, and mission are all factors complicating the process. That’s why this collaboration, partnering with a Chinese multinational and the Walloon government, feels special. 🇨🇳🤝🇧🇪 When we started our collaboration in 2020 with Alibaba.com, Carrie Wong was my first point of contact and taught me all the Alibaba basics. You could say she was my Alimama! She took more under her wing than just me, bringing us together one year later when she introduced the Walloon project to me. In 2021 at the height of the pandemic, Prescillia Tang from Wallonia Export & Investment Agency (AWEX) and I met for the first time. Our shared vision got us through setbacks and challenges, strengthening our relationship along the way. Together, we recognised the immense potential of B2B e-commerce for Walloon businesses. Our mission: to empower Walloon companies to tap into a global audience and build a strong online presence, all while representing the innovation and quality Wallonia is known for. 💪🌍 How? By offering a unique promotional package for 30 hand-selected Walloon companies, giving them access to the largest B2B marketplace in the world. In the final stage of preparation, we brought in Wendie as the superstar of the project. Her daily guidance makes the journey better for every Walloon supplier involved. We officially launched the project in 🌸 spring 2024 organising our first workshop. Now, as we’re halfway through recruiting 30 Walloon companies to Alibaba.com, it’s incredibly to see the first stores of Walloon suppliers go live. Stay tuned as we introduce the amazing Walloon companies joining this adventure over the coming weeks. This collaboration will culminate in the creation of the Belgian Pavilion, a virtual space where Walloon businesses can showcase their excellence to the world. 🌟 Are you based in Wallonia? Contact us or Wallonia Export & Investment Agency to find out if this is something for you! #GlobalTrade 🌍 #Wallonia ❤️ #Alibaba 🏪 #ECommerce 💻 #Innovation 🔑 #AWEX 🚀

📊 𝐕𝐈𝐄𝐓𝐍𝐀𝐌'𝐒 𝐑𝐄𝐓𝐀𝐈𝐋 𝐌𝐀𝐑𝐊𝐄𝐓 𝐀𝐓𝐓𝐑𝐀𝐂𝐓𝐒 𝐅𝐎𝐑𝐄𝐈𝐆𝐍 𝐈𝐍𝐕𝐄𝐒𝐓𝐎𝐑𝐒 📊 🚀 Since the beginning of 2024, the total retail sales of goods and consumer service revenue have shown consistent growth month over month. 📈 In the first five months of the year, the total retail sales of goods and consumer service revenue reached an estimated 𝐕𝐍𝐃 𝟐,𝟓𝟖𝟎.𝟐 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧, an 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐨𝐟 𝟖.𝟕% compared to the same period last year. Notably, retail sales of goods accounted for a significant portion, estimated at 𝐕𝐍𝐃 𝟏,𝟗𝟗𝟖.𝟐 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧, representing 𝟕𝟕.𝟓% 𝐨𝐟 𝐭𝐡𝐞 𝐭𝐨𝐭𝐚𝐥, 𝐮𝐩 𝐛𝐲 𝟕.𝟒% year-on-year. 💠 According to the General Director of the General Statistics Office, the positive trends in the first half of 2024 indicate that the 𝒓𝒆𝒕𝒂𝒊𝒍 𝒔𝒆𝒓𝒗𝒊𝒄𝒆𝒔 𝒔𝒆𝒄𝒕𝒐𝒓 𝒄𝒐𝒏𝒕𝒊𝒏𝒖𝒆𝒔 𝒕𝒐 𝒃𝒆 𝒂 𝒃𝒓𝒊𝒈𝒉𝒕 𝒔𝒑𝒐𝒕 for the economy this year. ✈️ Major corporations from Japan, Thailand, South Korea, and Singapore have expanded their retail operations in Vietnam. Notably, BRG and Aeon from Japan have made significant moves: 🖊️ On June 1st, BRG Group, in partnership with Sumitomo Corporation (Japan), launched a new FujiMart supermarket, bringing the total number of FujiMart outlets in Hanoi to 11. 🖊️ Aeon Vietnam Co., Ltd. also recently broke ground on the Aeon Tan An Shopping Center project in Long An province, marking the 8th Aeon shopping center in Vietnam, scheduled to open by the end of 2025. 🔷 Vietnam’s retail market has substantial growth potential, both in scale and depth. With rising average incomes, a rapidly expanding middle class, and a high consumption-to-GDP ratio compared to other countries in the region, the retail market presents vast opportunities for investors. 👉 Contact G2B today for 𝒕𝒓𝒂𝒅𝒊𝒏𝒈 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔 𝒆𝒔𝒕𝒂𝒃𝒍𝒊𝒔𝒉𝒎𝒆𝒏𝒕 𝒔𝒆𝒓𝒗𝒊𝒄𝒆 𝒊𝒏 𝑽𝒊𝒆𝒕𝒏𝒂𝒎. Reliable - Transparent - Dedicated! G2B supports your business on the journey to Vietnam business expansion. (𝐼𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑠𝑜𝑢𝑟𝑐𝑒𝑑 𝑓𝑟𝑜𝑚 𝑉𝑇𝑉 𝑂𝑛𝑙𝑖𝑛𝑒) -------------------- G2B: Flexible Solutions - Trusted Partner 🏢 Head Office - Singapore: 50 Raffles Place, Level 19, Singapore Land Tower 🏬 Representative Office - UK: 20 Wenlock Road, London, N1 7GU 🏬 Representative Office - US: 838 Walker Road Suite 21-2 161, PMB #161, Dover, Delaware 🏬 Representative Office - VN: 16th Floor, Metro Tower Building, 667 Dien Bien Phu Street, Ward 25, Binh Thanh District, HCMC 📞 Singapore: +65 9778 8696 (WhatsApp) 📞 Vietnam: +84 837 064 064 (Hotline) 📧 Email: support@g2b.co 🌐 Website: https://g2b.co #Glodival #G2B #GPay #CompanyFormation #BusinessGrowth #BusinessRegistration #Incorporation #VietnamBusinessSetup #StartBusinessInVietnam

The e-commerce market is reshaping Asia's logistics sector, projected to grow by a CAGR of 10% from 2024 to 2029, signalling significant opportunities in the region. Govinda Singh, Head of Real Estate Advisory and Head of Hotels & Leisure at Colliers Asia envisions substantial growth for this region globally in the near term. Coupled with the adoption of a China Plus One strategy, this trend is expected to drive a surge in demand for premium logistics space. He also emphasises the disparity in supply across various nations. While Japan, Australia, and Singapore have managed a balance in logistics per capita and merchandise trade, emerging markets like Vietnam and Malaysia offer the most compelling opportunities. For more insights, read our Q1 2024 Real Estate Advisory Insights here: https://ow.ly/w7sf50RqjP5 Govinda Singh Vanessa Tse Velda Wong Xin Yi #ColliersSG #RealEstateAdvisory #PropertyTrends #ColliersResearch #LogisticsSpace