Published October 11, 2022 by

Written by Jasmine
Jasmine
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Singapore Retail Industry Transformation Map to Focus on New Experiential Concept

On 7th October 2022, Minister of State for Trade and Industry Low Yen Ling launched the Retail Industry Transformation Map 2025 at the official opening of Castlery’s flagship store.

SINGAPORE’S updated industry transformation map (ITM) for the retail sector will help Singapore brands go abroad, encourage new experiential concepts, position the country as a lifestyle hub for global brands, and groom local talent for quality jobs.

Retail's updated industry transformation map focuses on Singapore brands, innovation, talent, Government & Economy - THE BUSINESS TIMES

This calls for NPN latest retail solution MR.retail (Mixed Reality) aim to encourage new experiential concept in the retail industry by delivering interactive and captivating MR/AR immersive experiences for their consumers. Allowing the real and virtual world to interconnect to mutually reflect and influence each other to enhance end-user and customer engagement that leaves an everlasting impression on your customers.

Mixed Reality (MR) is on its way to causing a profound transformation among retailers who use the technology to offer attractive shopping experiences and boost sales and customer loyalty. With MR in retail, customers can interact, customize, and engage with products better, so that they make the right purchase decisions!

“This refreshed roadmap will arm the sector with what it needs to meet the accelerated changes brought about by Covid-19,” said Minister of State for Trade and Industry Low Yen Ling, who was speaking at the opening.

The Covid-19 pandemic has prompted a “quest” for unique consumer experiences and a shift towards digital-first business models and omni-channel retail, said Enterprise Singapore (EnterpriseSG) in a press statement.

With an increase in middle-class consumers in the region, as well as government and private sector efforts to drive sector rejuvenation and vibrancy, retail is “poised to see further growth and transformation”, EnterpriseSG added.

“Retailers that are nimble and quick to adapt their business models and products to meet customers’ demands will stay ahead of the game,” she said.

Stay Ahead in the Retail Game with MR.retail (Mixed Reality) Solution

We bring more than just mixed reality technology to you. Our mission is to enable a new retail reality that redefines the future of retail. To transform the way people, interact with their surroundings to incorporate advanced and interactive technologies into their everyday retail.

What do MR.retail bring to the retail industry? 1) Fully immersive and highly interactive MR/AR experiences! Our experiences allow users to explore by touching digital content seen in the virtual and physical world. 2) Capability to integrate into your day-to-day business applications and systems! Allow users to seamlessly adopt and offer AR and MR experiences to your customers and business. 3) Comes with more than 10 years of skilled technology and MR experiences! We design and match up with up-to-date development requirements and advanced processes. 4) Custom solution for your business! We craft client’s ideas into custom mixed reality solutions, tailoring each MR experiences to perfection.

Interested to know how you can use Mixed Reality experiences for unique consumer experiences and shift your retail towards a digital-first business model? Have a chat with our MR expert! https://www.retailtechnpn.com/sg/contact-us/