Partnership will see Octopus’ B2B software solutions uplifting retail industry in North Asia, India and SEA

SINGAPORE - Media OutReach -26 March 2019 - Octopus RetailManagement (Octopus),a Singapore-based company and a pioneer in offering a holistic suite of retailmanagement solutions, today announced that it has partnered with JD.com for itscutting-edge Point of Sales (POS) suite of solutions which has benefitted avariety of businesses spanning the retail, F&B and ecommerce sectors.

With Octopus' partnership with China's largest retailer, JD.com, Octopuswill be the first B2B software provider for the retail industry and will haveaccess to more than 300 million active customers that shop on JD.com. Thisstrategic alliance is in light of Octopus' vision to digitally transform theretail industry.

Octopus is a Cloud-Based Retail Management Company that offers acomprehensive Point of Sale solution to brick and mortar SMEs. With a presenceacross 7 countries -- Singapore, Malaysia, Philippines, China, Sri Lanka,Indonesia and the USA, Octopus generates around $2 billion of GMV on theirplatform from over 20,000 retail points across 3000 customers.

Ong Whee Shiong, Founder and Managing Director, Octopus said, "Thedigital age has thrown several challenges at businesses today. It has becomecritical for retailers to have an efficient retail management system to enhancetheir business productivity. Our products aim to empower the retailers toembrace digitalisation and streamline their online business."

The company's cloud-based retail managementsolution helps firms to leverage social media interactions to curatepersonalised offerings based on consumer's shopping and dining behaviours. Thesolutions can also synchronise inventory, support customer promotions, andoffer loyalty points to add more value propositions to their customers. Thesolutions also allow its customers to onboard a mobile platform through itscloud offering. This enables real-time visibility over the network to monitorsales, the performance of staff, and inventory which leads to efficiency andbetter decision-making.

According to an article citing joint research by Google and Temasek in2017, more than half of Southeast Asia's population is a millennial and ofthat, 70 per cent are under the age of 40. The retail space per capita remainslow, indicating limited access to offline stores and products. Whilst thereport shows that consumers in the region show the interest and willingness toshop online, there have been emerging trends focussing on omnichannel andonline-to-offline solutions.

"We believe online and offline need to go hand in hand today. Throughour integrated solutions, our clients are able to offer their customersenhanced seamless shopping experience and create more value," he added.