Introduction to the Retail Centre of Excellence
With the global retail industry estimated to be worth USD $28 trillion by 2019, and the local Retail Trade industry commanding 1.4% of Singapore’s total GDP in 2016, the retail industry (physical and online) has been earmarked as a key industry for growth in Singapore. Aligned with this overall vision, the Retail Centre of Excellence serves to galvanise retail innovation in Singapore and beyond in Asia Pacific, focusing on key areas such as research, insights, talent and community.
The RCoE aims to empower and enable brick-and-mortar and online retailers to tackle key retail industry challenges for their businesses. To achieve this aim, the RCoE seeks to:
- Establish an ecosystem of retailers, retail experts, knowledge partners, talent and students, with the support of the government and academia
- Enhance retail know how through research by SMU faculty experts for traditional and non-traditional retailers to grow their retail businesses in Singapore and beyond
- Explore and resolve talent and manpower gaps in the retail industry through the development of academic curriculum, leadership training and internships for SMU undergraduate and postgraduate students, coupled with masterclasses for industry stakeholders, managers and C-Suite executives
The Retail Centre of Excellence strives to establish Singapore as the Asia Pacific regional retail hub.
The Retail Centre of Excellence aims to empower and enable physical and online retailers to tackle key retail industry challenges for their businesses insights, community and talent.