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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, said Octopus in a press release. Octopus is a cloud-based retail management company that offers a comprehensive POS 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 gross merchandise volume (GMV) on their platform from over 20,000 retail points across 3000 customers.
“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,” said Ong Whee Shiong, founder and managing director, Octopus.
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.
“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,” added Shiong. (PC)
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