Octopus inks partnership with JD.com providing retail innovations, expanding reach in Asia

Partnership will see Octopus� B2B software solutions uplifting retail industry in North Asia, India and SEA

 

SINGAPORE - Media OutReach -
26 March 2019 – Octopus Retail
Management (Octopus),
a Singapore-based company and a pioneer in offering a holistic suite of retail
management solutions, today announced that it has partnered with JD.com for its
cutting-edge Point of Sales (POS) suite of solutions which has benefitted a
variety of businesses spanning the retail, F&B and ecommerce sectors.

With Octopus’ partnership with China’s largest retailer, JD.com, Octopus
will be the first B2B software provider for the retail industry and will have
access to more than 300 million active customers that shop on JD.com. This
strategic alliance is in light of Octopus’ vision to digitally transform the
retail industry.

Octopus is a Cloud-Based Retail Management Company that offers a
comprehensive Point of Sale solution to brick and mortar SMEs. With a presence
across 7 countries — Singapore, Malaysia, Philippines, China, Sri Lanka,
Indonesia and the USA, Octopus generates around $2 billion of GMV on their
platform from over 20,000 retail points across 3000 customers.

Ong Whee Shiong, Founder and Managing Director, Octopus said, “The
digital age has thrown several challenges at businesses today. It has become
critical for retailers to have an efficient retail management system to enhance
their business productivity. Our products aim to empower the retailers to
embrace digitalisation and streamline their online business.”

The company’s cloud-based retail management
solution helps firms to leverage social media interactions to curate
personalised offerings based on consumer’s shopping and dining behaviours. The
solutions can also synchronise inventory, support customer promotions, and
offer loyalty points to add more value propositions to their customers. The
solutions also allow its customers to onboard a mobile platform through its
cloud offering. This enables real-time visibility over the network to monitor
sales, the performance of staff, and inventory which leads to efficiency and
better decision-making.

According to an article citing joint research by Google and Temasek in
2017, more than half of Southeast Asia’s population is a millennial and of
that, 70 per cent are under the age of 40. The retail space per capita remains
low, indicating limited access to offline stores and products. Whilst the
report shows that consumers in the region show the interest and willingness to
shop online, there have been emerging trends focussing on omnichannel and
online-to-offline solutions.

“We believe online and offline need to go hand in hand today. Through
our integrated solutions, our clients are able to offer their customers
enhanced seamless shopping experience and create more value,” he added.