SingPost mall combines online and offline shopping
Singapore Post has started work on a shopping centre which will offer a complete suite of e-commerce logistics solutions, aimed at meeting the evolving needs of shoppers.
The new 25,000sqm mall at Singapore Post Centre (SPC) will include instore online ordering and flexible in delivery and pickup services.
The $150 million development is scheduled to be completed around mid-2017 and will consist of four above ground levels and one basement, an eight-hall cineplex, SingPost’s flagship post office, retail shops, as well as food and beverage outlets.
Consumers will be able to browse instore, purchase products and arrange for delivery directly to their home. This arrangement will open up stock keeping and warehousing options for retailers, while saving consumers from carrying their own bags.
The development is all part of SingPost’s empire building project, CEO, Wolfgang Baier said.
“SingPost is building a unique and disruptive concept – converging online and offline – to gain maximum customer benefits,” he said.
“With the new retail mall at SPC, consumers can enjoy the best of both worlds – online and offline – while businesses can potentially cut costs and focus on enhancing customer experiences.”
Baier said SingPost views the development as O², which refers to the retail fulfilment of online-to-offline and offline-to-online shopping, rather than just of O2O, which stands for online-to-offline ie click & collect.
“This is an important shift in mindsets as well as the retail and e-commerce landscapes. The convergence of online and offline will bring exponential benefits to consumers and businesses – therefore we view this as ‘O²’ (O-squared) instead of O2O (Online-to-Offline). The SPC O² retail concept puts consumers at the heart of this evolution, allowing them to have greater retail options and more convenience,” Baier said.