SATS and Singapore Post Limited (SingPost) have recently entered into a Memorandum of Understanding (MOU) with the aim of establishing a strategic partnership to explore the potential development of an ecommerce transshipment hub in Singapore, reports PR Newswire.
McKinsey's projections indicate that the Southeast Asian market is expected to experience significant growth between 2023 and 2026, with a compound growth rate of 22 per cent.
This surge is expected to triple the market size, reaching a gross merchandise volume of around US$230 billion.
Additionally, a report by Statista in June 2022 emphasised the substantial growth expected in the ecommerce market across Asia, Australia and the Americas.
Singapore and Indonesia, in particular, were identified as key players with projected increases of 36 per cent and 34 per cent, respectively, in their online sales.
Recognising this immense potential, sats and SingPost are collaborating closely to capitalise on their combined expertise and cater to the evolving needs of ecommerce businesses.
The MOU signifies the commitment of both companies to jointly operate an advanced transshipment hub facility, with the aim of reducing delivery times, operating costs, and manpower.
As part of the MOU, SATS and SingPost have agreed to allocate equal resources towards engaging operational and commercial consultants for formulating a business case, exploring synergies, and conducting trial runs to gather crucial data for a feasibility study.
This study will evaluate the operational viability and potential synergistic benefits for both entities, enabling them to leverage their respective strengths and resources effectively.
SeaNews Turkey
McKinsey's projections indicate that the Southeast Asian market is expected to experience significant growth between 2023 and 2026, with a compound growth rate of 22 per cent.
This surge is expected to triple the market size, reaching a gross merchandise volume of around US$230 billion.
Additionally, a report by Statista in June 2022 emphasised the substantial growth expected in the ecommerce market across Asia, Australia and the Americas.
Singapore and Indonesia, in particular, were identified as key players with projected increases of 36 per cent and 34 per cent, respectively, in their online sales.
Recognising this immense potential, sats and SingPost are collaborating closely to capitalise on their combined expertise and cater to the evolving needs of ecommerce businesses.
The MOU signifies the commitment of both companies to jointly operate an advanced transshipment hub facility, with the aim of reducing delivery times, operating costs, and manpower.
As part of the MOU, SATS and SingPost have agreed to allocate equal resources towards engaging operational and commercial consultants for formulating a business case, exploring synergies, and conducting trial runs to gather crucial data for a feasibility study.
This study will evaluate the operational viability and potential synergistic benefits for both entities, enabling them to leverage their respective strengths and resources effectively.
SeaNews Turkey
