Amazon Global Selling has on Monday launched its first cross-border e-commerce brand launchpad in Singapore to help small and medium-sized enterprises (SMEs) to unlock growth opportunities in cross-border e-commerce.

Amazon Global Selling said in a statement that it has introduced the ‘Amazon Global Selling Singapore Cross-border Brand Launchpad’ program, in collaboration with Enterprise Singapore (EnterpriseSG) and Singapore Business Federation (SBF).

According to the statement, the program is to equip local entrepreneurs with cross-border e-commerce skills and help them access burgeoning opportunities of this sector and build a long-term global business.

The program will help over 100 local Singapore micro, small and medium enterprises (MSMEs) to launch and scale their brands through global selling in the next two years and help at least 300 Singapore companies to equip them with knowledge set of cross-border e-commerce through a long-term knowledge collaboration.

A first by Amazon Global Selling in Singapore, the program will help over 100 eligible local MSMEs launch their brands and scale in the United States with dedicated and tailored account management support and resources.

Notably, MSMEs will receive support in areas including advisory on business growth and solutions, optimization of marketing and analytics tools, and know-how on achieving product standards certification in line with local regulations.

Additionally, as part of a long-term knowledge collaboration, Amazon Global Selling is working with SBF to develop a dedicated cross-border e-commerce learning series for at least 300 Singapore companies.

This will feature key topics including introduction to cross-border e-commerce business model, solutions to tackle common global e-commerce challenges, and relevant digital economy skills such as product selection and preparation, overseas market and consumer research, digital brand building and tools, performance optimization, cross-border logistics, and more.

With seminars, business review, and business matching, the knowledge collaboration aims to empower local companies to develop a global business on the worldwide playing field.

According to the statement, global e-commerce has grown at an average rate of 12 percent over the last several years and this is forecasted to continue into the future.

Within e-commerce, it said the cross-border business-to-consumer (B2C) e-commerce market is experiencing growth with a global compound annual growth rate (CAGR) of nearly 28.4 percent during 2020-2027.

“Cross-border e-commerce is becoming increasingly crucial for the success of MSMEs,

“To fuel their long-term growth, we recognize the significance of local collaborations and local support,” said Anand Palit, Head of Amazon Global Selling, Southeast Asia.

“We look forward to growing our efforts with Enterprise Singapore and Singapore Business Federation to help local businesses seize the potential of the ever-expanding cross-border e-commerce and write the new chapter of Singapore MSME’s transformation story,” he said.

Soh Leng Wan, Assistant Chief Executive Officer of EnterpriseSG, said that to strengthen their competitive edge, businesses must equip themselves with the capabilities to explore new markets and adopt differentiated go-to market strategies.

“The size and vibrancy of the e-commerce market in the United States presents significant opportunities for Singapore businesses,

“We are excited to partner with Amazon Global Selling to help Singapore businesses build their capabilities in cross border e-commerce and unlock new drivers of growth,” he said.

Kok Ping Soon, Chief Executive Officer of Singapore Business Federation, said that this partnership will help Singapore businesses develop the necessary know-how to reach customers in the United States which is one of the most diverse in the world with an enormous growth potential for consumer brands.

“We look forward to do more with Amazon Global Selling to accelerate cross-border e-commerce adoption by Singapore companies,” he added.

Cited a finding from consulting firm Access Partnership, the statement said the value of B2C e-commerce sales earned by Singapore firms from overseas sales has the potential to nearly double from SGD 1.7 billion ($1.28 billion) in 2022 to SGD 3.9 billion ($2.93 billion) by 2027, if they invest in cross-border e-commerce.

It is noted that more than 60 percent of sales in Amazon’s store are from independent sellers—most of which are small and medium-sized businesses—providing a vast selection of amazing products, competitive prices, and great convenience for consumers.

The statement highlighted that many Singapore sellers have already started their e-commerce journeys on Amazon stores.

It said that as of this May, sales from Singapore sellers on Amazon global sites have achieved double-digit growth year on year, and have hit record-breaking performance during Prime Day this year.

Amazon Global Selling is a platform that helps businesses from anywhere in the world to launch a global business, reach Amazon customers around the world and build international brands.

Through selling on Amazon online stores, sellers of different types and scale can reach millions of Amazon customers worldwide, including 200 million+ Prime customers in overseas Amazon online stores; and more than five million business and institutional buyers in the United States, Europe, and Japan.

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