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RedMart launches Marketplace, ties up with SPRING to mentor SMEs

SINGAPORE — Online grocer RedMart is setting its sights on becoming the Amazon of Singapore. Newly-launched today (July 24), its RedMart Marketplace enables other independent grocery sellers to set up shop on its platform and sell to the company’s existing base of tens of thousands of customers.

SINGAPORE — Online grocer RedMart is setting its sights on becoming the Amazon of Singapore. Newly-launched today (July 24), its RedMart Marketplace enables other independent grocery sellers to set up shop on its platform and sell to the company’s existing base of tens of thousands of customers.

The additional sweetener: Sellers on the platform will not have to spend money on investing in logistics and delivery — the one issue that some say makes or breaks the success of e-commerce stores. Instead, RedMart will pick up the orders from the sellers and deliver their products to customers.

At the launch, RedMart chief executive Roger Egan said: “We eventually will become an Amazon-like ‘everything store’, expanding into new categories mainly through our marketplace.

RedMart has grown its fleet of trucks from just one when it started in 2011 to more than 60 now. And sellers evidently like the concept. Since the test run of the online marketplace four months ago, more than 100 sellers have signed up, offering more than 5,000 food, grocery and household products, according to the company. Delivery is free for orders above S$49, while a flat fee of S$7 is charged for orders below that amount.

Ms Wendy Ng, manager of Euraco FineFood, a seller on the platform, said: “It is a fantastic way for us to sell to a wide customer base without the worry of setting up our own logistics and delivery network. We have already seen an increase in our revenues.”

As part of the launch, RedMart has tied up with enterprise development agency SPRING Singapore to train and mentor local small and medium enterprises (SMEs) in all aspects of e-commerce. The six-month training programme will include inventory management, pricing and marketing.

About 400 local businesses will be mentored by RedMart and, at the end of the programme, they can choose to set up shop on RedMart Marketplace or start their own e-commerce venture.

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